Money Monday- Starting the Mid Year Analysis

   

      It's not quite the halfway point of 2022, but I know what our bills and expenses are through June, so close enough to do analysis of our money goals, the major one, figuring out if we can cover all living expenses in 2022 and 2023 on just my take home. Major home renovation projects, annual Roth contribution, and college tuition is excluded, but things like travel and general home and car maintenance is. Going into the year, we know would have ebbs and flows. If we were starting at $0, there would be cash flow gaps. That was recognized as part of the effort, but target would we'd catch up by year end. I'm happy to say, the difference in deposits to DH's take home is less than what my last quarter take home increase will be. The signs indicate we should be on target for 2022.

     I have worries or at least things that bring me pause as the first half of the year ends. Hopefully, we're able to mitigate some of these through other strategies. The plumbing unexpected issue, aren't they all, could be one of many surprises. 

     Of course inflation was already inching as the new year started, but now it feels like prices are growing by feet. My no waste mantra is stretching to every line on my budget with flexibility. I'm cutting some purchases, maybe silly, I didn't think about like diet Coke and endless coffee ( trying for no more than two mugs) and drinking more free water. We've got to reduce eating out- mostly the impulse meals, coffees, and drive throughs, and save that part of the budget for planned and enjoyed meals out. I need to get better at batch cooking. I've got to really use items I've purchased ahead for gifts. People need to double check lights and electronics are off when not in use. Errands need to be grouped for efficiency. When replacing items, we need to buy well made and cost effective. We'll rethink if something is a need or a want. If a want, how much so, before buying. 

     The second half loading of take home is due to my hitting the 401K max by mid September, when other years it might be October. That's because I converted 40 hours of vacation to deferred comp back in May. I don't want to forgoe vacation, but after the fiasco with taxes and timing, that might be nullified anyway. I could change the way I defer to spread my take home out at the same rate all year, but this way pushes me to belt tighten a bit more for 3/4 of the year. I'm slated for a July 1 salary increase of 2.5%, not much, but something. Long short of it, I think we're on track.

     And good thing too. DH waited until 7:00 Saturday to mow when it got cooler. He did fine helping my daughter move large furniture into storage Sunday morning, but then he basically napped for two hours on Sunday. I feel like he works too many hours and has little left for his own life. I don't know if I can convince him he can afford to retire earlier, but hopefully the numbers will talk and he'll listen.