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Update on Finances

June 21st, 2008 at 03:54 pm

I've been very busy lately due to my running schedule and heavy work load. Just ran a 5K today at a decent 10 minute mile pace. I am happy about completing the run. My next goal is preparing for the 8K in July. My running group was key to me successfully completing the race. Lots of laughter and encouragement (especially running up hills!)

My job is moving to a new location at the end of the month. My drive was a 25 minute commute and will change to a 45 - 90 minutes commute depending on traffic. The good thing is that my employer is allowing us to telecommute two times a week. My work hours will permit me to avoid the morning and afternoon D.C. traffic jams. I also received a 6% raise which will be used to boost up my 401K, house emergency fund and to pay for higher gas expenses.

DH has negotiated a good salary and an outstanding benefits package from the new prospective job. He is now waiting to see if the military will allow him to retire in October. We hope to have an answer about his release date by the beginning of July. We are on pins and needles about this because there is a chance that the military may say no due to the current status of Afganistan and Iraq. This has happen to a friend who was due to retire in August but was denied and was immediately deployed to the conflict. All we can do is stay positive and hope for the best.

Our DS#1 has purchased his own bedroom furniture (used) and mattress set (new). Paid in full about $650 in cash money. He is now saving up for a television set for his future apartment. He also is continuing to save up for his three month emergency fund, first and last month apartment fees. He plans to look around for inexpensive living and dining room furniture in September. I still can't believe that he has a plan to move out the house in one year. He also had an unexpected car repair (alternator and electrical problems) that cost him $400. He was prepared due to his saving $500 in his car repair fund. He was very happy that he had this fund to pay for the repair. This is a proud moment for us.

DS#2 will be here in July for the summer. We are really looking forward to seeing him. He has all ready lined up a summer job. He has expensive tastes in clothes and electronics. This summer job will be used to supplement his expenses because we won't finance his wants. It will be a challenge due to his mother has a live life on credit and don't worry about the costs. My DH is worried that DS#2 will grow up living beyond his means. I told him that the young man can learn about finances from us but we should do it slowly without being pushy. Since he doesn't live with us full time that is all we can do. Raising young men is so much fun!

2 Responses to “Update on Finances”

  1. klbb90 Says:

    Some kids learn from verbal lessons and some from hard painful experience lessons. Each child is different. I've done my best with my DS (17 for 40 more days) and he seems to have learned some of the lessons but is oblivous or ignores others. Now I have to stand back and let him sink or swim on his own. I offer information/help if he's interested and then let it go if he's not.

  2. Amber Says:

    Sorry about the drive but glad you got the raise. I also have my fingers crossed for your husband's retirement. Looks like you guys did a good job with DS1 so it will only be matter of time before DS2 jumps on the band wagon. I wish my parents had taught me earlier to save

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