The balance between paying down debt and savings

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Originally Posted by Tybee

Wow, that's great planning Tradd. And congratulations so much on another 1k at the debt!!!!

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Thank you! I want it done! I’ve sort of come down on the side of throwing as much as I can at the debt and not adding more to savings for the time being.

I decided WTH not to type this out.

This is my monthly bare bones budget:

$1000 rent
$50 electric (budget plan)
$50 house gas (budget plan)
$250 car gas
$300 groceries/household
$50 hair cut/brow wax
$97 internet
$55 mobile phone
$100 church donation
$130 massage (for sciatica)
$12 Apple Music

Annual
$1000 car insurance
$150 renters insurance
$200 diving insurance
$151 car registration
$300 gifts/Christmas

$50 oil change (every 5K miles)

My 2018 Escape is paid off. Internet is kind of high. Need to get into the Xfinity store to see what I can do about reducing cost. My complex only allows Xfinity for broadband internet. Mobile is the base cost for Xfinity Mobile as I only have one line (it’s just me). Anything for car (such as tires) is cash flowed. Same with diving. All the pricey diving stuff I’ve done the last couple of years has been paid for with cash.

$800/month into 401K.

So inspiring to see simple living in practice! I think you are doing great, Tradd! I can't see how you can do much reducing your basic expenses, and you're knocking off your debt really well, with enough money to save into your 401k and fund your diving passion!

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Originally Posted by catherine

So inspiring to see simple living in practice! I think you are doing great, Tradd! I can't see how you can do much reducing your basic expenses, and you're knocking off your debt really well, with enough money to save into your 401k and fund your diving passion!

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Forgot the $12/month Apple Music!

That's a great budget, Tradd. You are not wasting money, that is for sure! I am super impressed with your rent since I have an idea about where you are and what things cost from my years in the area.

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Originally Posted by Tybee

That's a great budget, Tradd. You are not wasting money, that is for sure! I am super impressed with your rent since I have an idea about where you are and what things cost from my years in the area.

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I’ve been in the same place 15 years. It started at $800 in 2008 and just went to $1K last month. Landlord said it will stay at $1K for at least two years.

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Originally Posted by Tradd

I’ve been in the same place 15 years. It started at $800 in 2008 and just went to $1K last month. Landlord said it will stay at $1K for at least two years.

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You provide the landlord with a stable, clean tenant who is not hard on the place. That is worth something to him.

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Originally Posted by iris lilies

You provide the landlord with a stable, clean tenant who is not hard on the place. That is worth something to him.

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Yep!

Looks good, Tradd. Great to see you adding to both 401k and paying down the debt.

I’ll up 401K contribution once debt is paid off. I really should have it done sometime by the middle of next year. No trips for me, aside from going to FL at Christmas next year.