Each year, we take out more withholdings so that we get more back in our taxes (and to make sure we won't have to pay in). Once we file our taxes and learn what we are getting back, we make a plan. We always put money back for traveling throughout the year. Those who know me know that I can't live without traveling somewhere:) Then we look at any bills we may have and pay the balance. This year, we splurged and bought a temper pedic bed from Grand. I had significant buyer's remorse and was pretty much sick to my stomach to think about how much a new bed cost; however, I am much more rested these days. When we bought the bed, we had four years of free financing (i.e. no interest). We bought the bed in July and we just paid off the balance with our tax return.
After we set aside travel money and pay off any bills, the rest of the money goes tooooo...you guess it, SCHOOL LOANS:) The total owed is now below $70k:) We're getting there!
Our February challenge is going well so far. We have not eaten out and we are more than half-way through the month! We are going to make it! As of today, we have a little more than half of our allotted food budget left for the month. That might sound like we won't come in under budget since we are half-way through the month; however, we have several meals in the pantry and fridge that will take us through another week of eating. The most we have ever been UNDER our food budget is 1.88:) We will see what this month brings!
Unfortunately some of those costs get offset by random happenings. This month just so happens to be several doctor check-ups for the both of us- meaning copays (booo!). Regardless of extra money going to the doctor fund, we should still be under our monthly goal. Hopefully we will be able to put a bunch of extra money on school loans at the end of the month with all of the money we saved. We shall see! Until next time...
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