Finances and a Second Income

While the notion that by the end of the summer I will have a job sounds appealing, it leaves hubby and I trying to decide what items that money will go towards. I have said in the past that we live quite comfortably on hubbys income alone. Being able to live on one income is an amazing thing with us only being in our 20’s and allows any income I make/may make to be extra (disposable) income. 

What this means in terms of me working: Not needing my income will allow us to use the money I make for “extra” things. However, we have quite a few “extra” things we would like to take care of.

A few things we know we want to do with the income:

1.   Purchase hubby’s car. We already have the money saved up to buy me a new car ($7,200) but we will not have enough to fully fund a second car for Colby. While we are hoping to keep my car under $5,000 in order to carry the remainder into hubbys car, we do know we will need at least $3-4,000 more saved up.

2.   Put $10,000 in our account. While we have a sizeable amount in our account already, we want to add at least $10,000 more to it. This is mainly to help when we decide to start our family. This money in our account will act as a buffer while I stay home with our child (until they are in school) and provide us with money needed for extra expenses that come with having a child.

3.  Start a house fund. Hubby and I hope within the next five years to start looking at homes to buy. However, while we would love to buy a home in five years, we are completely fine with renting until we feel we are 100% ready. Buying a home is a big commitment and while we cannot wait to own a home, we are nowhere near ready. That being said, we would love to start a house fund for when we are ready to buy. We would ultimately like to put down 20% if not more.

4.  …and last but not least, we want to pay off our student loans. Hubby and I are lucky enough that our only debt is school loans and between the two of us for two degrees we owe less than $40,000. Each month we pay close to $500 towards our student loans (close to 5k for a year). We would love to free up that $500 a month to be put towards something else, like our baby or house fund.

Those are the main things that hubby and I want to do with my income once I start working. While we are able to do many of those things on hubbys income, having my income dedicated to nothing but these items will enable us to accomplish them at a much faster pace. Our main problem though seems to be figuring out which one to accomplish first.

As of right now this is the way we seem to be leaning…..

1.  Buy hubby a car (he needs a car that actually goes in the winter, firebirds do not fare so well in those conditions lol)

     2. Split income between putting money in bank/paying off debt (i.e. If I made $2,000 a month then 1k would go in our account and 1k would go towards debt)

     3. House fund….in case you may not have realized it, our house fund is the least important item. While we cannot wait to own our own home and stop renting, we are perfectly happy as renters and would be fine with renting a house opposed to buying. This will be the last thing we use my income for most likely…..the only exception would be if we found a great deal on a house that we loved. But for now, it remains last on the list.

What would you do with extra disposable income?

Also, how many of you are a 1 income family and how does this work for you 

and your financial goals? 

Pop Tarts

It has been a good 3 years if not longer since I have had a Pop Tart...

I remember eating these as a kid. My favorite, strawberry iced! Although Pop Tarts probably are not the greatest thing for you, there is something to be said about eating a pastry with warm fruity filling. Ever since going gluten free I have wanted to find a gluten free version of a Pop Tart and I think I finally have.

Introducing Strawberry and Cinnamon Apple Toaster Pastries. You can find more about them HERE. I recently found mine at Walmart for $3.97 for a box of 5. My local Walmart's gluten free section has been steadily growing and expanding and I am finding new and interesting products everyday. 

When I found these, hubby was with me and sadly just did not share the same enthusiasm I did over the fact that I had found gluten free Pop Tarts.

 But, he laughed at my excitement as I tossed them in the cart and continued on chatting about them....and how much I had wanted them, and how happy I was that I found them. Hubby was kind enough to pretend to listen to my constant babble about said Pop Tarts... 

So how do they taste,,,,, 

Delicious... Amazing... Fruity... BUT best of all...they taste "normal."

 I admit I was a bit skeptical, and although I wish Glutino would have made iced versions, they are still delicious and taste exactly like the ones I remember eating as a child.

I am a Happy Girl! 

http://www.instagram.com/thenotsoordinarywife

Week in Review July 1st-7th

This month started out as a normal month, but little did I know hubby and I would end up car-less....

Car Issues

On Tuesday, the 2nd I decided to head out to Kroger to pick up a few items. After doing my shopping, I got back in my car and noticed my gears were shifting way too easily among each other. In putting my car intro drive I got a big surprise when my car started going in reverse opposed to forward! I quickly put my car in park and turned off my car. I decided to call my hubby who was at work at the time and let him know of the issues I was having and if I should walk home or not (it would have taken me about 1.5hrs to walk home but totally do-able). Hubby told me he had to finish up with his work and he would come out to pick me up.

About 30 minutes later, he arrived and we tested a few things out with my car, only to discover my car wasn't actually going into any gears, but instead staying only in park. We decided to head home and figure out how to have my car towed later, as it was safe and sound in a parking lot. As we were leaving Kroger, we headed up a hill directly beside it and to our surprise hubbys car started sputtering and eventually stalled. So here we were trying to get home after my car broke down and then hubbys does the same thing, only his on a hill, in a good amount of high-traffic area.....yes we were those people blocking traffic lol oops! But it would have been impossible for just the 2 of us to push it out of the way, while on a hill. Hubby called AAA and a tow truck was to be sent out, making us a top priority, as we were blocking traffic. About 30 minutes later, the tow truck appeared and we had hubbys car towed back to their shop....a good 3 miles from our home.

At first the shop thought it was hubbys fuel pump, told us it would be done the next day, gave us an estimate, and we were sent on our way. In order for us to get home, we had to walk....3 miles no biggie...EXCEPT that actually took us about an hour or two and it was close to 90 degrees out, yuck! Regardless we made it home and promptly ordered AAA for myself in order to have my car towed the very next day.

The next day we walk the 3miles to the Kroger store, about 1.5-2hr walk, and have my car towed home. My car is old, a 1998 and is slowly on its way out and is only worth about $700 according to Kelly Blue Book, so we refuse to take it to the shop. only general maintenance and inexpensive fixes for my car. If it costs more then $50 to fix, then it is not worth it, especially seeing how we do intend to buy me a new car sometime in the near future. Well hubby looks at my car and we are pretty darn sure my shifter linkage broke and I need a new one. As soon as we get hubbys car back, we will head to our local car place to pick one up.

As for hubbys car, it was originally thought to be his fuel pump and was suppose to be done on the 3rd. It wasn't and no one called. Hubby called on the 5th, seeing as how the 4th was a holiday and was told it is not his fuel pump, but a computer chip and they had already ordered the part, which would be delivered the next day (the 6th). Needless to say we were a bit ticked off, as no one had called to let us know it was a different problem or even to ask if we wanted them to fix that problem, hubby likes to do alot of car stuff himself if he can. Well as of today, the 7th his car is not fixed and we have heard nothing more from the shop. Hoping tomorrow it is fixed and we can pick it up....going a week without any cars, is pretty easy for us, seeing as how I do not work and hubby can walk to work, but not everyone is that fortunate. We will definitely not be returning to the shop we used this time and will be looking for a new one for the future.

Baking Cookies

On a lighter note, I decided to bake some cookies this week. Nothing beats a warm gooey cookie right out of the oven. I am absolutely in love with THIS recipe. Who doesn't love peanut butter and oatmeal together. It is one of my favorite combinations for cookies. Throw in some chocolate as well and I am in heaven! The main reason I love these cookies though has to do with the fact that they are flourless (they are butter-less as well). Being gluten free, I love finding flour-less recipes and not having to deal with using gluten free flour mixes. One thing I do not do that often when I bake gluten free goodies is use flours. I find it is much easier and the taste and texture is loads better when baking flour-less items opposed to using gluten free flours to try to substitute for "normal" flour.

http://www.instagram.com/thenotsoordinarywife

BIG Mushrooms

...and it wouldn't be life without some randomness thrown in here and there. On our walk to go have my car towed hubby and I noticed these HUGE mushrooms growing in the grass around our apartment complex! These mushrooms are literally the size of my hand and are growing everywhere...it is hard to walk outside without finding these beauties. Nature really is amazing sometimes with what it can create!

http://www.instagram.com/thenotsoordinarywife

What happened in your life this week?