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Friday, March 12, 2010

Money, Money, Money: An Explanation

43. Pay off my Wells Fargo student loan.
Between the two of us, we owe quite a bit in student loans. Having both gone to St. Olaf, I guess that's to be expected. My Wells Fargo student loan was by far the largest and had the highest interest rate, so that is the one we have been going after the most aggressively. Thanks to a generous gift from my dad a couple years ago, we're slated to have this paid off by March 2011.

44. Bring savings up to at least $40,000.
Technically, we have way more than this saved already. But it is spread out over our 401Ks, mutual funds, kids college funds, and our emergency fund. This item is in regards to our emergency fund, which is currently sitting at around $30,000. This should start significantly increasing after our trip to Europe when we start saving my entire paycheck and live on my husband's salary alone.

45. Buy chair(s) for the living room.
We've been on the hunt for the perfect chair to complete our living room, but so far we haven't found anything we've fallen totally in love with. It's sort of a formal living room, so we were kind of hoping to get a nice wingback chair.

46. Buy sectional for the basement.
I think this post summarizes the situation surrounding this item pretty well.

47. Buy a Road Bike for Andrew.
Once again, check out this post for a summary of this item.

48. Follow the Budget and track all purchases in the spreadsheet.
To keep better track of how much we're spending and what were spending it on, my husband has created a spreadsheet that we track all of our purchases in. It's broken out by categories and creates a neat pie chart. Oh, I should also mention that, with the exception of our bills and gas, we pay for everything with cash. We take out our designated amount of money each month and most of the time we have some leftover at the end of the month.

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