The problem with the annual budget, I find, is that it puts in stark focus how we just barely have enough to meet our goals. The problem is the little unbudgeted-for things that pop up. Too many of them, and we'll be in danger of not meeting our goals. And we REALLY want to meet our goals; small space living (950 sq ft with 3 adults, 2 young kids and a cat) is really starting to chafe.
Our cat has been acting neurotic, either a UTI or mad at his new litter box, or on a hungry spurt and mad about his diet. Anyway, he's been managing to scatter litter over the whole house, and has peed in various non-litter places at least 5 times in the past couple months. Two of them were today, on the sofa. One of those was right in the space between NT and me as we watched TV.
We'll be calling the vet to see if we can get UTI meds tomorrow without going in, and if not, we'll bring him in. (Not ideal because he hates his carrier and we're not supposed to have pets in our building, so the elevator rides are nerve-wracking.)
But either way, the situation paints a clear picture of both problems: the cure will cost us $60-$100. And meanwhile, we live in a 950-square-foot litterbox that we're trapped in until we can scrape up enough money to get out. And that vet bill is just one of the many stumbling blocks we'll face.
Other expenses (both needs and wants) coming up that aren't budgeted for: my 40th birthday party: $300-$600. (Would like to have a bit of a blowout since it's a significant milestone.) My license renewal: $25. Cab rides if there's another major cold snap: $10-$15 per ride. AS yoga: $750 for the year. Textbooks: unknown. Later this year, new snow gear for the girls: unknown. I'm sure a hundred other little things will come up, and each one has to be dealt with, deciding whether it's better to spend the money or find a way around it (if possible).
As it stands, we have exactly enough surplus money to hit all our goals. Then we have $1150 coming in credit card rewards over the next few months. Incremental rewards coming in after that. Money from a guest appearance AS will be making at a conference. So we're still probably in good shape. But it's hard not to obsess.
We also need to carefully plan our vacation spending this year. After Puerto Rico in February, we have four more things to pull off: NT's best friends visiting for a week or so from UK in May. NT's mom and sister visiting for 10 days in August/September. We would like a grownups-only weekend away in late summer or early fall, Chicago being the most affordable option probably. We would like some kind of weekend cabin trip with the kids in the summer. We have $5000 planned in the budget for all four things. So not a ton of money for each. We'll have to make smart choices to stretch that money and put it to maximum advantage.
Some raises would be AMAZING good news. I really hope I and/or NT really do get one this spring. That would ease my anxiety considerably.
Oh, and I'm really glad now that my dental costs will be smaller and leave us a bunch of flex money: I just noticed my acne may be coming back, and the co-pay this year per visit is $40 instead of $20. The last time I went through this, I had at least 10, maybe 15 visits with the dermatologist, so this year that would be $400-$600. Thank goodness at least THAT isn't a source of financial anxiety!
Anyway, things are so far so good. I just wish I could stop stressing out about it!
More odds and ends
January 20th, 2014 at 04:28 am
January 20th, 2014 at 06:40 am 1390200035
January 20th, 2014 at 06:58 am 1390201100
I'm really still thinking UTI. The couch thing seemed more a cry for help, like we weren't paying attention to his pain and he wanted us to show how bad off he was. Later he was rubbing against me and purring, especially when we petted or scratched him. He doesn't seem hostile. (He DOES seem extra whiny about food between meals, but maybe animals crave food for comfort like humans. We've been ignoring his food pleas in general, although I think we all have slipped him a snack here and there.)
I love our cat, but I'll be SO glad to live in a larger space where his little neurotic tics don't wreak such havoc on our sanity. One of his other things is twanging the doorknob to the bedroom, loudly and insistently, on weekend mornings. If we feed him, he gobbles it down and comes back to twang some more. If we let him in, he walks on us and nibbles and scratches us to try and wake us up. There's no good way to stop him from doing that. If we had a basement with a door it'd be another story!
January 20th, 2014 at 07:58 am 1390204709
January 20th, 2014 at 11:58 am 1390219097
You speak about wants -- like your birthday party -- being an obstacle to getting a bigger place to live. You probably should decide whether getting that bigger place is a want or a need. Doing that for nearly everything has helped me get my financial priorities in crystal clear order.
Good luck!
Retired To Win
January 20th, 2014 at 02:08 pm 1390226900
January 20th, 2014 at 02:29 pm 1390228199
Hope the cat situation is solved so you can get in with things without this issue. Poor you and poor kitty too.
January 20th, 2014 at 03:42 pm 1390232544
January 20th, 2014 at 05:18 pm 1390238283
January 20th, 2014 at 05:25 pm 1390238721
I think we make plenty of money (though I always like more!); our wants are, in general, less than a quarter of our take-home pay, and we have a budget surplus of over $1000 a month, which we use toward our long-term goals unless it's needed for other things. It's just a matter of making those choices of whether to use the surplus for other things or try to deny our needs or wants.
January 20th, 2014 at 05:27 pm 1390238845
January 20th, 2014 at 05:50 pm 1390240242
Having read your blog for years, you have done a remarkable job of turning the ship around. However, a reset of the way you think about your jobs could make a huge difference. Paid well for your skill set? Maybe you could be paid better. You won't know unless you look around. Are there openings for managers? That will pay more. Maybe you could re-examine your skill sets and make even more with them. Perhaps you could expand your skills and move into a related, but better paying field.
In your shoes, I would focus on the income side. Yes, you are doing a great job managing expenses. But a bump in each of the three incomes could accomplish a whole lot more.
January 20th, 2014 at 06:16 pm 1390241778
With retirement, we have 10% of gross income going toward it. Half 401(k), half Roth IRA. Again, I don't blog about it (other than monthly net worth update) because it's just the bare minimum until it can become more of a focus for me. When we get settled in a new home, I hope to put more toward retirement as well.
It's a good point about career. I do some soul-searching once in a while and read about different careers, trying to picture myself in them. I tend to get very comfortable and not want to leave, because I'm an awkward introvert who also has face-blindness, so starting a new job is always a stressful and scary endeavor. That said, I know I can do it. Maybe this year as I'm turning 40, I'll think more seriously about it.
NT is the same way about jobs (except he's nowhere near as shy as me, though he claims to be an introvert). He will need a huge push to look elsewhere, even though he's been doing 50 hours per week at the same salary as he got when he was working 40 per week. We've been leaning on him to look, but once he graduates, if his job doesn't improve and he hasn't gotten a healthy raise, he'll see the collective power of two spouses pushing him onto the job market.
January 20th, 2014 at 06:33 pm 1390242836
After 40, it becomes a lot more difficult to change careers. In your shoes, I would have a family meeting and a serious discussion about how all three of you can get better paying employment so you can move to a better living situation and educate the girls.
January 20th, 2014 at 06:45 pm 1390243520
I guess it's all perspective; we're bringing home nearly 3x as much as we did when NT first moved in, and back then nearly all our money went to basic needs and debt payments. Now only 52% goes to needs, and that's with 2 kids in daycare.
January 20th, 2014 at 07:11 pm 1390245101
January 20th, 2014 at 07:23 pm 1390245824
January 20th, 2014 at 09:52 pm 1390254752
January 21st, 2014 at 04:59 pm 1390323581