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Home > Bonus and Budget Update 12/18

Bonus and Budget Update 12/18

December 20th, 2008 at 01:54 pm

My mom visited this last week and it curtailed my blogging. Fortunately (for me) she didn't have any comments about my spotty looking carpet.

Mr H received a bonus check the day before she arrived. At his work place they have something like a profit sharing bonus that usually turns out to be a significant amount of money. I'd guesstimate the take-home amount of it this year is equal to one-fourth of Mr H's annual take home pay. "What would you like to do with this money, Mr H?" was the first thing I said when he told me he'd deposited the check. "We'll talk about it after your mother leaves," was his response. We agreed on a date and time, and this conversation sat for a week.

We discussed it the day she left, just hours after she went to the airport. Mr H surprised me: he had a list ready of things he'd like to spend the money on. The Emergency Fund was at the top of the list! It looks like we will complete the Emergency Fund goal by December 31, well ahead of the July 1 date we'd set. I plan to set further Emergency Fund goals though, and Mr H agreed to that. We also tentatively agreed to replacing the sliding glass door, and replacing the carpet in the family room with a hard surface. Mr H can put in the new door and he has some work connections with a flooring company so even with doing both of these projects there should still be some money left. No firm decisions were made, except for the Emergency Fund. For us this conversation went very well.

Later I showed him a Checkbook One budget update. He didn't have much to say, except to note that the money for Grocery/Cleaning/Personal Care category was almost gone. But - we still might squeak by for the month, if we end up spending less on gas. Usually by this point in the month I've transferred $100 - $500 from savings to cover spending in this account. This savings transfer has been going on for years, so to even get this far in to the month without it is a huge development.

My current Goal 1 of getting the EF to $8625 by July 1 and Goal 2 of a Budget for Checkbook One are progressing nicely.

6 Responses to “Bonus and Budget Update 12/18”

  1. frugaltexan75 Says:

    Sounds like progress! Smile

  2. asmom Says:

    Umph! That's awesome and a heck of a bonus. Congrats to you and Mr. H.

  3. scfr Says:

    Wow - You're doing great! It's always wonderful to hear about couples who work together as a team ... When I hear about situations where 1 person sabotages the other, it just makes me cringe, because without that teamwork they're either not going to get anywhere or 1 person is going to end up dragging the other like dead weight and end up exhausted.

  4. creditcardfree Says:

    Nice job! I always know when people are on the right track when they get a large sum of money and look to do something productive with it rather than blow it all away. You are making great decisions...together!!

  5. ceejay74 Says:

    Wow, your husband is really coming along! Congratulations...your patience is paying off.

  6. Petunia Says:

    Thanks everyone! scfr - In some ways I have dragged Mr H along. . . and it has been exhausting. But progress has definitely been made in the last year. I need to remember that when I'm frustrated by the glacial pace of the progress. Smile

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