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Discussion Starter #1
Since I am fairly new to fv and still finding my way around, thought I would post my "success" so far.
In the last couple of months I have paid off 2 loans and 3 credit cards to the tune of over $8000.00.

The new plan:
refinanced house dropped payment to $730
will start putting all my paychecks in savings and hope to pay house off in 2 years.
Goal is to start living on hubbys check alone! Oh no, I have been put on a budget reduction diet!!!
Only other payments (besides regular living expenses) are two car payments, one that will pay off
in about 15 months.

Emergency fund over $1000
change jar~ several hundred so far. I NEVER spend any change, and will break a dollar instead!!!
 

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Way to go on the pay offs. Wishing you luck on your goals!
 

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When I planned to quit work (the first time - long story), we transitioned our budget so we paid for everything from hubby's paycheck for a year except for the taxes that my income generated and my working expenses (we didn't have daycare but I would have included that so the other expenses were gas, clothing, lunches out, etc). I immediately adjusted the tax withholding on hubby's paycheck to reflect what it would if we were living on his paycheck alone. My paycheck took the bulk of the other taxes.

While we were waiting out the year to see if there would be any financial surprises to see if we'd have to tap my paycheck, we socked away my check into savings (we were already debt-free). It was an amazing experience because it really did take some adjusting to learn to live on one paycheck.

Good luck. You've got a good plan.
 

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Wow that's great keep up the good work.
 

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Discussion Starter #5
Thank you for the atta boys!

CookieLee, it will be an adjustment! I am eligible to retire from my job, but plan to work for several
more years. That should make a difference. Hubby is retired from one job and plans to work for several
more years also. The debt free status may come faster than we are planning if this works out. I sure hope so!
 

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Thank you for the atta boys!

CookieLee, it will be an adjustment! I am eligible to retire from my job, but plan to work for several
more years. That should make a difference. Hubby is retired from one job and plans to work for several
more years also. The debt free status may come faster than we are planning if this works out. I sure hope so!
Cheers to you!!!! Before my husband retired, we socked away my paychecks for a year and lived on only what we would receive from Hubby's future pension. We saved the extra from Hubby 's paycheck, too. And yes, it was an eyeopener to live on this amount. It was a good experiment with a safety net built in, in case it wouldn't work. Then after he retired, I worked one more year and then retired. We, too, had been debt free for many years before we did this. I would urge everyone considering retirement to do this for a year in order to prepare.
 
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Good work- can't wait to hear your future successes- you're on a roll!
 

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Discussion Starter #9
Quick update! Been awhile since I checked in.
Puting my checks in savings, so far, has been less of a major upset to the monthly living than I imagined.
I do try to stay away from any spending that I feel is unnecessary and am finding how much I was wasting!!
All credit cards are paid in full!
Thanks for the replies to my original post.
 
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