[USER]

Hubby and I have always scraped by. Finally for the last year we have been making our bills OK but nothing extra. He’s gotten an offer at a new place where his bring home (after taxes and insurances and 401k contribution) will be 3k more a month. I’m not very interested in changing our frugal lifestyle much although it will be nice to have some breathing room. Just trying to figure out the best savings/spending plan.

No debt other than the mortgage but need a car really soon. Also need some serious house repairs. Not updating but structural stuff that our home insurance refuses to pay for because it’s “structural aging” or whatever. We also have kids but no college funds.

I’d appreciate any advice or ideas from other frugal minds! Should I put 1k each per month towards each of those things. Or do you consider one more important than the other? Or would you do something else?

Thanks

[VF Fab]

Save for your retirement/investments before worrying about college funds for kids. They will have access to student loans. it’s much easier to not have to worry about being financially independent in your golden years/a burden on the kids.

[Shelly]

I’d get my roof, siding and windows replaced that were all damaged in the storm today. Then I’d get home owner’s insurance, because the company that I was with for years dropped me because they said my roof needed replaced.

[Sheri]

I don’t know how close you are to retirement but it is never too soon to start saving. So many things come up after retirement that can quickly deplete your savings. I know…I’m in the middle of it now!

[Kelly]

If house repairs are truly structural fix asap. You won’t get much if you try to sell and if you don’t disclose you get sued. Save the rest.

[Stephanie]

They say the more you make the more you spend. I would save the 3k each month and build you a nest egg for at least a year then reevaluate your needs not wants.

[Sandra]

We paid our mortgage off by adding some to the payment each month. Put aside some for home repairs each month. Also put aside for a car fund. There are many scholorships out there for college that you need to be looking into plus putting aside funds for each child if that is what they want to do. They might want to go to a trade school or can go to a local college for much less. It is sit down time for the family. We are also not assured how long the job will last, so stay frugal and save while you can.

[Stephanie]

Continue to live on your current income, save $3,000 each month. “Murphy” will show up and you’ll be ready.

[Author]

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