Wednesday Update

 

safety net $35,895.44
savings account $5,719.02
checking account $2,216.7
friday saving $2,152
may 15 saving $3,347
$49,330.16
comcast $75
airbnb $189
airbnb $76
food $250
$590
difference: $48,740.16

By May 15, mortgage balance is $46k against this – $2740 above the mortgage balance.  I still need to finish the Airbnb booking, send some wedding money.  Also there is emergency fund to stay padded.  Ugh I want to pay this thing off ASAP but I also don’t want to be irresponsible.

May 15 – $2740

June 1 – $5,892

June 15 – $9242

July 1 – $12,394

I just have to decide what I’m comfortable with having in savings when I flush the hoard.

After payoff, ongoing monthly expenses are $1328 plus annual payments for car insurance, home insurance, property tax, car registration which total ~$5000.  That’s about $21k required spending a year, ignoring maintenance, vacations, etc.  On a monthly basis then, I have to decide the best use of $6,636.  The last months of the year will contain a bit more in the paycheck b/c I’ll have maxed out social security already.

I’ve been thinking to spread out things over the next 6 months.  Maybe something like….Screen Shot 2017-04-26 at 4.50.32 PM.png

In 2018, the 401k/IRA/HSA contribution would drop in half and the general savings would be about 2.5X.  I’d start out 2018 with about $20k in e-fund.  That would grow to $65k by the end of the year while maxing all my tax advantaged stuff.  I’d get to spend $3816 on fun in 2017 and $7632 on fun in 2018.  I haven’t accounted for the $5000 in annual payments or the extra money I get at the end of the year.  I think it’s only around $2000.  That would consume some of my general savings.

Screen Shot 2017-04-26 at 4.55.36 PM.png

I could get rid of my storage ($130) and downgrade my phone plan ($50).  That would add $2160 to the budget annually and drop my retirement goal by about 10%.  That’s probably at least a year of savings, so it’s probably worth it, although figuring out what to do with all the stuff in the storage seems like it could also take a year, but I guess not if I’m not working, so maybe downgrading the phone plan is a now thing and downgrading the storage is a when-you-quit thing.

Allright, now given my priority list [https://fiveyearclub.wordpress.com/2017/04/06/prioritizing/], I need to price these out, rank them, and see what I’m going to be able to do in 2017 and 2018.

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