Tuesday, December 11, 2007

Our Saving and Spending Plan

My husband and I just got married in July of 2007. To overly simplify our jobs, he is an engineer and I am a secretary. Once we have our first child, I plan on becoming a stay-at-home mom, so we decided to prepare for this right from the start by putting all of my income into savings and living off of his income. We are also trying to put some of his income into savings so that we don't develop a standard of living that has us living paycheck-to-paycheck once we lose my income.

I have to clarify something here. The money going into "savings" isn't going to be sitting in our savings account indefinitely. We do have various plans for it...some gets spent on vacations, some on funding our ROTH's, and we also use it for home improvement projects, etc. So we are using our "savings" money, but not on day-to-day living expenses or the necessities of life. What do you think of our plan?


Anonymous said...

How much, then, would you say your financial situation is driving the timing of when you plan to have children? Or, is it the other way around?

Becky said...

Good question! How about I write a post about it? :)