A lot has changed since my last blog post. We had our baby, went to Germany, I started a new job, and we started a proper garden.
I am currently on maternity leave and thought it was finally time for an update.
Our finances have changed too. I have a regular income again and am making more money and have benefits.
Our Financial Goals:
- Be Debt Free
- Make $2,000+ a month from investments or part time work so we no longer need to work full time.
Our Current Numbers as of May 19th, 2023:
Investments: ($57,869)
- My Roth IRA: $28,760
- B’s Roth IRA: $25,888
- My IRA: $1,833
- My Roth 401(k): $0 -Just opened it right before my maternity leave, so no money in it yet.
- Our son’s UTMA: $100
- My Robinhood: $1,288 (Bitcoin & Tesla -lol, waste of money)
Savings: ($13,924)
- Savings: $13,024
- Back-up savings: $900
- HSA: $0 -emptied it so we could then receive medical bill assistance.
Property: ($199,220)
- House: $188,600
- Car: $10,620
Debt: (-$110,045)
- Mortgage: -$110,045
- NO medical debt! Even after having the baby! We qualified for medical bill assistance at our hospital and they are covering 100% of our bills!
Total Assets: $271,013
Net Worth: $160,968
We are comfortable with the amount we have saved and want to focus on paying off the mortgage and investing in our retirement accounts, particularly my 401(k). Once the mortgage is paid of, that majorly increases our financial freedom. It will free up $1,000/month. We already can survive off of just my income with the baby. So work will become mostly optional at that point.
With that being said, we both LOVE our jobs. My new job is perfect & all of my coworkers are fantastic. I genuinely enjoy being by them and get every benefit you can think of, so it is really worth it. They are super flexible as well. I plan on working there as long as similar people stay working there that have great attitudes and as long as I enjoy it.
The baby isn’t costing as much as we thought it would since we don’t need daycare yet, we have family & friends buying us almost everything we need, no medical bills now, and I am able to breastfeed. So our expenses have not gone up yet really. They will once he starts daycare & when the gifts/money slows down from friends & family, but not terribly. Luckily, Brandon’s job is super flexible and we have a friend who does daycare so she is giving us a discount and we only need her part time.
Ease Your Financial Payne 