The Budget Talks…

Are still underway but currently on hold until we figure Ryan’s new pay check amount. In addition to the Social Security tax increase of 2%, we also added Seth and I to his company insurance plan. We will know more at the 1st of the month.

On another note, I just got a raise and yearly bonus. In a way, it makes it easier to save but on the other hand, it means its really easy to increase our lifestyle… A double edged sword!

An update on progress:

We’ve agreed to cancel our gym membership which is $82 per month saved!

Our nanny is leaving at the end of March to enter the mission field. We still need child care for the afternoons so long as I have a full time job but, with the summer approaching, I’m hoping to find a college student for a lower cost. Possibly $160 per month saved!

For the summer, Seth will attend half day camps at the YMCA. We will save about $90 per month!

For preschool next year, Seth will attend a new school and our family will save $265 per month!

Since August of last year, we have been paying a monthly payment to the IRS for taxes owed. We met with a tax professional last week, she has indicated that if we amend our 2011 taxes, we may be owed some money by taking advantage of deductions that we missed. So that is $125 per month saved! Plus, unknown amount to add to our savings!

With the raise in salary I just received, we will be able to add $100 per month to our savings!

With all these savings we’ve found, plus what we already save, we’re looking at being able to add up to $1097 per month to our savings account. That’s amazing! I’m still looking for ways to save too.

The other thing I’m working on is finding a part time job to start once I quit my full time job. I’m not sure of the timing yet but this job market is tough and I’m not the only business professional looking for work right now. This step may take a while. But, while I’m searching, I’m trying very hard to save where we can.

I’m keeping my eye on the prize by thinking about all the things I’ll be able to do with and for my family as a stay at home mommy and wife!

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