The impending mortgage has me in a bit of a tailspin about our finances. I try to keep myself and most of our primary bills in tip-top shape, paid at least 2 week in advance of the due dates (I know, I know, I make myself sick sometimes), virtual checkbook balanced, filed then repeat.
But I haven’t really consolidated anything since our marriage. We still manage our money between two separate accounts with one joint savings account which is quickly disappearing under the looming shadow of this house. Townhouse. Pseudo condo. Whatever.
After our plans to move to the UK were dashed, finances fell a bit to the wayside. We rushed to make alternative living arrangements, find places to store all our crap like squirrels with nuts (a perfect correlation I might add since we were scrambling everywhere) and still keep my sanity.
So The Hubby and I have pretty much been living our single lives, with the added taxation of being married, and not reaping any of the benefits. Yes, I think that about sums up the past six months.
So today, I’m all money. Sorting, fixing, consolidating, merging. Call it what you will. I’ll call it the AKO (Asterisk Knock Out). Of course, all rights reserved. Because who knows? It could become that next ‘It’ thing. Like ‘Oh snap!’ or ‘Youdigit.’
Err, yeah. I’ve got nothing.
So moving on. The AKO. We’ll tackle this thing in 5 steps to get financially fit by the end of the month. Here we go:
- Re-route. All money gets funneled into our joint checking account for everything. And I mean everything: mortgage, insurance, his car notes, credit cards, food, gas, blah blah blah. The list goes on. So papers going flying to our HR departments to re-route the direct deposits.
- Allowances aren’t just for kids anymore. This ties in with step one. The Hubby and I have agreed on splitting the direct deposit into the joint and our separate accounts effectively giving us an allowance. If there’s something we just can’t live without that’s not for us but for me, tough shit. Save your pennies.
- Bundle up. Once the mortgage is finalized, we’ll start shopping around to get an insurance plan that bundles our auto and homeowners. With those discounts, we should be able to save even more money. And since The Hubby and I pay the full amount at once, that re-pay at cancellation will be a nice windfall right to savings.
- Be a hermit. Learn to love the Mac & Cheese. Hot Dogs. SPAM (my favorite guilty pleasure which the The Hubby abhors…. yeah, I’ll survive the nuclear fallout, will you?). No more take-out no more yummy. Relegated to once a month (hopefully!).
- GOAL! The Hubby and I have to re-focus our energy into the pursuit of something great. Paris 2015? Returning to Amsterdam, 2012? Maybe something a simple as Vegas on NYE’s? Small baby steps and we’re back in the money. Cha-ching.
So that’s the plan. Now let’s see if it words. Update to come next month.