I have written this blog post in my mind several times. Unfortunately, up until now, that is where it has stayed. Have you ever had an upcoming month or two where there are just too many variables? That is where I’m at, which leaves me to do a lot of financial figuring.
I wish that when it came to figuring out finances, it could be as simple as making a list of potential expenses along with potential income. The problem, however, comes from the word potential. Perhaps this is one of those times where I should “hope for the best, plan for the worst sort of things.”
As for expenses, we are facing our semi-annual auto insurance bill, our flood insurance, refilling our propane tanks, getting a delivery of wood, a repair on Hub’s pickup truck, and our kids (along with their spouses and our six grandkids) are coming for a week. Then there’s the (yet unresolved) deck situation. We still don’t have any hard numbers on that.
As for income, we are facing Hubs taking time off. Hubs will be home twice in July. He gets paid for travel days, holiday pay and will put in for vacation pay which will offset his time off. I am also taking time off when our family is in town, but for me, that means no money for that week. In addition to that, I need an extra day off this week for a court appointment. Nothing criminal – this is for a property tax appeal I started over a year ago. More on that later.
I have no worries about meeting our monthly expenses. My concern is in throwing too much at the debt we are snowballing and then come up short on all the other stuff. I’m not always good at finding a happy medium, so with all these variables, I’d rather err on the side of caution. I still do intend on sending something to our furnace debt because it also pains me not to see that number going down. Right now, I’m just not entirely sure how much that something will be! Overthink things? Yeah, that would be me!
As for our remaining debt, the furnace is now down to $2,700. No change on the Visa until the statement arrives, which should be in the next couple of days. What is exciting this week is that our debt should/could be under $10K! The light at the end of the tunnel is getting brighter!
You’re knocking out that furnace debt fast! I’m one of those plan for the worst, hope for the best people. Otherwise I fret. And then YAY if the worst doesn’t happen.
Our furnace debt annoys me! Lol I think mostly because it wasn’t part of our original snowball. I’m with you on the fretting. I do way too much of it!
Ok, I’m going to quote Suze Orman here – people first, then things – you don’t see your kids all that often so for JUST THIS ONCE, don’t worry about paying extra on the furnace and enjoy spending time with hubs & kids & grandkids!!!! I’m SO good about GIVING advice, not so great about taking it 🙂 That furnace debt will be out of your hair before you know it – hang in there!!!!
You are right, Sue. We don’t see our kids that often, and the fact that they are all coming to see us…well worth slowing the snowball! Just the other day Hubs was reminding me that it wouldn’t be the end of the world if it takes us an extra month or two to get rid of our debt. It WILL happen and that is more than we could have even hoped for 2.5 years ago!
I think you are right to pause the debt snowball some for this time, and if it turns out you don’t need the extra $$$, make the extra payment then. This is what I have seen with Dave Ramsey’s advice and I know you follow his principles. I also think it is good that you mentioned this here, so we can all help keep you accountable if you need it. I am really excited to see that you are getting close to being under $10k. That is huge!
I’m hoping we won’t need the extra money, but if we do, at least it will be available. I’m keeping my eye on the prize of getting out from under this debt! Thanks for the accountability. Spoiler alert, as of tomorrow, we will be under $10k! Woohoo!
that is so great! Congratulations, happy for you.
Thanks!
As long as you aren’t adding more debt, you are headed n the right direction. Enjoy having the family all together.
Adding debt is something I’m avoiding at all cost! I still feel sick over the furnace debt, and I think that is why I want it gone so badly. We have 4 weeks before the family comes. Good time to stock up on the extra food I know we will need. We may rent a pontoon boat for a day, but other than that, we will be taking advantage of free activities.