When I started this blog "the plan" was to pay off my car and become consumer debt free by the time I turned 39. Well I am now 39 plus a few months and we accomplished my/our plan. I can't imagine that I will suddenly become some spendy person. That is just not in my nature. I don't plan to change any of my habits as of now. I like my frugal lifestyle and the way we live.
So now what will we do???
I will continue with $200 per month we already put into savings and throw any extra money at it until our emergency fund hits $2,000 right now it sits at about $1200. That is where I feel comfortable with it sitting for a while. We have started a home improvement project on our kitchen floor. We are still in the demo stage of it ( post on that to come). When we reach the point of needing to purchase new flooring I plan to be able to pay cash for it. Once that is done I will go back to building up our emergency fund. I would like to have at minimum of 3 months bare bones living expenses saved.
Tomorrow I will be setting up an automatic transfer so that the money that was allotted for our car payment will automatically be transferred to our saving account. My husband drives a very old car ( not by my choice, he loves his old car) and the reality is he is going to need to replace it very soon. We are hoping to make it until the end of tax season in April/ May next year. We plan to use the money we are saving now from our old car payment plus whatever he would or could make doing taxes to purchase him a new to us car with cash.
I also need to start saving for new heating and air conditioning. Our units are almost 20 years old. It is time to get those replaced hopefully by the end of next year. If my husband should make enough doing taxes next season to purchase a car and the new furnace/central air that would be great but I am not going to count on that solely happening. I have not really allotted a set amount to this fund yet. I need to sit down and run some numbers again to see what I think would work. I hope to finish the kitchen remodel first before I start this savings.
On top of all of this I need to finish up my shopping for Christmas. Yes I have already started! Have you??