Changes in FInances
For those of you who don't already know this, my husband Tim works at a Nissan dealership as their Business Development Manager. That's a fancy title for a job that's isn't really that fancy. He's responsible for taking care of the customers who contact the dealership through their website or through other internet means. He then tries to get them in the door for a test drive and hopefully to purchase.
He's been working there, in this position, for a year and a half. About 3 weeks ago, he was approached and offered a promotion to IT at another dealership in the franchise, but at that time they didn't give him any of the details about any potential change in his pay.
This week, he had a chance to sit down and talk with the woman who will be his boss in the new position, and he found out that he'll be paid $3/hour more, but the new position doesn't pay commission (which his current job does) so I'm estimating that his net pay should remain about the same. The main difference is that instead of getting a commission check around the 11th of each month, he'll be bringing home more weekly.
This has given me the push I need to make a new budget, which I have been mulling over for a while now.
Our current budget hasn't changed since he started at his job, and it includes:
So that's a huge problem that I want to tackle with the new budget. It's been a source of stress between my husband and I on many occasions, because he and I look at money very differently. He would be happy putting every spare penny in savings, and he is hesitant to make purchases until they're absolutely necessary, if not overly so. Now, I wouldn't call myself a shopaholic, and neither would my husband, I'm sure. On the contrary, compared to most of my friends who have pretty common shopping habits for the most part, I am the frugal one. But given the fact that we only make a small amount more than we need for our living expenses, I need to be more respectful of that money and the hard work my husband puts in to earn it.
With the new budget, I plan to incorporate those "extra" things like clothes, gifts, vacations, etc., and set aside a budgeted amount each month so that the money is there when we need it. I'll use an envelope system for this, with envelopes marked with each category. I also plan to budget our savings, to make sure that there is money being set aside for that purpose.
My husband likes to put our savings into low-risk stocks, and last year we were able to increase the humble amount we were able to save by about 20%. Those stocks have since been sold to pay for Christmas and taxes, so now we're back to square one.
I am excited to get to work on the new budget and to start implementing it. I also would like to make a list of both long term and short term financial goals that I'd like to achieve once the new budget is in place.
I'll be sure to update with the new budget as well as the list of goals once I've finished setting them in place.
He's been working there, in this position, for a year and a half. About 3 weeks ago, he was approached and offered a promotion to IT at another dealership in the franchise, but at that time they didn't give him any of the details about any potential change in his pay.
This week, he had a chance to sit down and talk with the woman who will be his boss in the new position, and he found out that he'll be paid $3/hour more, but the new position doesn't pay commission (which his current job does) so I'm estimating that his net pay should remain about the same. The main difference is that instead of getting a commission check around the 11th of each month, he'll be bringing home more weekly.
This has given me the push I need to make a new budget, which I have been mulling over for a while now.
Our current budget hasn't changed since he started at his job, and it includes:
- our rent (we live in a mobile home that we own, but we pay rent for the lot we live on)
- car payments
- insurance payments
- utilities
- payments on our two credit cards
- my husband's student loans
So that's a huge problem that I want to tackle with the new budget. It's been a source of stress between my husband and I on many occasions, because he and I look at money very differently. He would be happy putting every spare penny in savings, and he is hesitant to make purchases until they're absolutely necessary, if not overly so. Now, I wouldn't call myself a shopaholic, and neither would my husband, I'm sure. On the contrary, compared to most of my friends who have pretty common shopping habits for the most part, I am the frugal one. But given the fact that we only make a small amount more than we need for our living expenses, I need to be more respectful of that money and the hard work my husband puts in to earn it.
With the new budget, I plan to incorporate those "extra" things like clothes, gifts, vacations, etc., and set aside a budgeted amount each month so that the money is there when we need it. I'll use an envelope system for this, with envelopes marked with each category. I also plan to budget our savings, to make sure that there is money being set aside for that purpose.
My husband likes to put our savings into low-risk stocks, and last year we were able to increase the humble amount we were able to save by about 20%. Those stocks have since been sold to pay for Christmas and taxes, so now we're back to square one.
I am excited to get to work on the new budget and to start implementing it. I also would like to make a list of both long term and short term financial goals that I'd like to achieve once the new budget is in place.
I'll be sure to update with the new budget as well as the list of goals once I've finished setting them in place.
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