I received the following question from one of my
readers friends and thought the answer would be more helpful to the masses if I put it in a post. Should you have any questions, just leave some comment love and you, too, could be on your way to fame and fortune knowing everything having your questions answered. 🙂
|Ok so you said we can ask anything….How much do you take home a year or a month? Also if you could go back and keep yourself out of debt how would you do it? We have no debt but we do eat into our savings every month. Or even what are you doing now to keep yourself from falling into the same trappings…since now you have all that extra money that you used to be throwing at your debt.|
A: I did, indeed, say anything!
The Hubby’s base pay is around $80k, but we actually made about $110k (before taxes) last year. He worked lots of OT and found a writing gig with a national magazine that brought in a little extra every few months.
I would keep myself out of debt by taking Dave’s course before I had any! Seriously. I can’t tell you how many times the Hubby and I wished that had happened. The best we can do now is to remain faithful and teach our kids before THEY fall prey to the societal norms of living past their means! (blog post about that coming soon to a blog near you… and by “blog near you, I mean this one!)
Have you read my “Recovery” post? It’s about those “trappings” you ask about. It’s scary as all get out, because debt is SO easy to live with and to come by! It’s just “normal”. Even people that say “I have no debt” often have student loans or car payments they are still paying!
As for the “extra money”, we don’t really have any. The Hubby cut back on his overtime to be able to be home with the family, so I suppose *that’s* how we’re spending it! We have about $400 each month that doesn’t go to bills or into our beefed up Sinking Funds (again, more on that at a later time…), that we allocate towards all the things we’ve been waiting 2+ years to do/buy. Top of our list was a larger deep freezer (I just got one for $100 off Craigslist! Not bad, considering I sold the one I had for $90 and the new one is double the size!), and a new TV, since that $1500 one broke already. We’ve also put $50 away towards an actual veggie garden in raised beds and with a timed drip system. I hate going out in the heat of the summer to water the plants. What can I say… I’m a lazy gardener!
I can’t wait to share more about Sinking Funds, Allocated Spending, and what happens when emergencies pop up!
Thanks for the question!