Tuesday, May 4, 2010

Preparing for a Layoff at T-Minus 27 Days: What We're Not Cutting

Okay, so we're cutting some things in our budget. Probably mentioned that.

What I might have passed over is what we aren't. Which, on some level, is just as important.
So here's a few things that are sticking, at least for now.

1. His gym membership and my bikram yoga classes
We both feel better and look better when we sweat regularly. Nuff said.

2. Quality local and organic food
Especially milk and eggs, along with whatever will come from the garden and what we can get inexpensively from local farm stands. On both a health and food security front, this is a big deal. I probably won't buy as much, but we'll still buy.

3. The extra mortgage payment we make every year
I cannot wait to not have a mortgage. I bloody hate debt. And I believe that financial security is best had by not owing anyone anything.

4. The overpayments on the 2nd mortgage and my car
We've been hoping my car is the last one we'll ever finance. Of course, that remains to be seen, since so much is up in the air, but paying it off as quickly as we can is still in the works. As for the 2nd mortgage, we got that instead of PMI, and we're working on getting rid of it.

5. Our June vacation
We'd already paid a big chunk towards it (over $900, or about half), most of which we would have lost by cancelling. We'll scale it back and eat in a lot, but otherwise are going to enjoy ourselves

6. Donations
My husband sponsors a little girl in Peru monthly, we give to church, and we donate to the local food pantry. We'll keep those in the budget - no matter how tight it gets, there are those who have less.

7. Retirement and College Savings
Retirement is still going to come at some point. So is college for our daughter. We'll save as long as we can and as much as we can.

I'm sure there's more, but that's what I can think of right now. All of the above add up to a fair chunk of our budget, so we can always revisit them if and when we need to.

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