<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Plans
 

Plans

September 28th, 2015 at 05:14 am

I'm slowly preparing my hubby for a salary decrease in a few years (or sooner). I'm still adamant about stepping down from my job. He is supportive (somewhat) but I think very apprehensive about the salary cut and I understand. I am not thinking that way; I, for once, would like to put myself first. I've made tons of sacrifices to get to where we are now. Our priority was to payoff the house as well as put the kids through college. In a few years, DS #1 should be on his own or still living with us but with full-time employment and health benefits.
Yes, my salary is more than I thought I would ever earn and has helped us meet our goals, but money is not everything in life. Having said that, I made a list of things we need to do to have the house in top shape and today we begin the journey of saving 60% of our salary and living off 40%. It will be hard but I know that we can do it. I will still work but in a different capacity. The goal if $100K in savings by the time I decide to step down.

Please pray for me as I embark in this journey. I feel this is the right thing to do.

8 Responses to “Plans”

  1. Carol Says:

    I surely will. I taught a year longer than was good for me.

  2. creditcardfree Says:

    Prayers for you and your hubby as your work towards your goal.

  3. Ima saver Says:

    I will too. I wish you all the best!

  4. snafu Says:

    I'm confident you can make this spending reduction work. Will you begin by automatically moving your new salary increment as part of the 60% target? What is your plan for the new savings sums? Will it fund an increase to ROTH 401 or a retirement plan which results in an income tax reduction? What spending categories do you see offering obvious reductions like E fund full, home renos/ upgrades at desired outcomes? Decreased spending for personal grooming, wardrobe with more awareness of using pantry and freezer foods for example?

    I was going through this process most of August with mixed results in September. It feels like one step forward, two steps back here and there.

  5. ThriftoRama Says:

    I recently went through the same process. It has been worth it, so far.

  6. FrugalTexan75 Says:

    You can do it!

  7. VS_ozgirl Says:

    Wishing you much success!

  8. Livingalmostlarge Says:

    Good luck. Sounds like a great plan.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]