Finally Don’t Have to Rely on the Pay Raise
This paycheck coming up is the first of our pay raise. My budget does not take that money into account. That money will go directly to a credit card. We should be able to have it down by at least $800 before we are able to pay it off with the tax refund.
Knowing we can live off of the money we have now is a great feeling. We were debating shredding one credit card and keeping the other for “just in case” – but we haven’t had to use them in a long time. Once the cards are paid off, the extra month will go half to the car payment and half to the student loan.
The budget looks good. We don’t have an emergency savings account – or any savings other then our IRAs – but by this summer all of that will change. We will have no credit card debt, be about a year away from no car payment (probably less then that) and will start saving other money. We need to start saving for the kids for college. We need to start saving for when we need to replace one of the cars.
Knowing that we don’t have to rely on a pay raise to survive is an awesome feeling.