The 2nd half of this year is bringing many financial changes for my husband and I.
I will have the credit card debt paid off by the beginning of August.
Baby Hopeful will be arriving towards the end of August.
My husband & I both get 3 months parental leave.
We will be adding insurance for the baby.
Out next big financial goal is savings towards a new home.
November begins Daycare expenses.
January 2016, we will be increasing HSA contributions and creating an FSA account. I will be contributing $3333 pre-tax and my company matches $1667 for a total of $5000 for the year.
However, because of how the FSA reimburses, we will have to cash flow the daycare costs and will utilize the reimbursements to replenish cashflow.
So I have multiple paycheck budgets set to accomidate all the changes.
First, my current budget will transfer the $1550/month that was going to debt repayment toward the New Home Fund
The next budget adds in daycare costs, which decreases the snowball to the New Home Fund.
Then I have my 2016 estimated budget which includes the increased HSA and the FSA.
Its fun to plan! But I HATE seeing expenses going up and money in my snowball decreasing. I can hope that 2016 allows for some OT, even with the new baby
Lots of Budget Changes - forcasting potential budgets
July 1st, 2015 at 11:57 pm
July 2nd, 2015 at 01:53 am 1435802030
July 2nd, 2015 at 02:20 am 1435803631
Sounds like lots of good plans!
July 2nd, 2015 at 09:32 am 1435829547