My husband got a raise this month.Â After taxes and added dental insurance, it is barely a blip on the pay stub.Â It is a raise, though.Â And I am determined that we will use it in the best way possible.
1.Â Â Â Â Â We are going to save over the next year.Â Each month, I am going to â€œpayâ€ or savings account.Â My goal is to have $2000 by the end of the year but some of that will have to come from sources other than this massive â€œcost of livingâ€ raise.
2.Â Â Â Â Â We are going to pay off our equity loan.Â I got careless with a new baby on the way and talked my husband into getting an equity loan to put on an addition.Â I just couldnâ€™t bare the thought of putting the crib up in our bathroom (about the only space available).Â Now I canâ€™t bare the thought of having that extra payment each month.Â A little extra on the principle each month will have it paid off in just a couple of years.
3.Â Â Â Â Â We are going to set aside for vacations and trips.Â Although I can get us to the other side of nowhere on almost nothing, it would be nice to not have to squeeze so hard.Â We may not be flying to Europe, but we can go camping in Yellowstone (as long as gas prices donâ€™t go up too much more 😉 ).
This is a team effort.Â If my family doesnâ€™t help out then I know it wonâ€™t get done.Â There will always be a reason not to save.Â We just have to make some reasons why saving is more important than the other things.