Dh and I have been on a very low income for quite some time now, but this month we are fortunate enough to have money left in our checking account. I was wondering how much is considered a comfortable amount to you all, after all bills and rent are paid? We only have one account, no savings, no credit cards.
Due to our situation right now, I am happy when we have an extra $100 or so after all bills are paid and food has been bought.
Israel, mom to DD, Ivy, 4-27-06 :and DS, Kai, 12-29-07 and DD, Lilith 2-1-10 and always remembering Alice fullterm stillborn 08/31/11 (unexplained placental abruption)
Technically, we each had retirement accounts through our jobs before we met, but we have each had a handful of jobs since then and neither of us has a 401k anymore. We fully fund our Roth IRAs, though.
We worked on our mid-term savings much later and started with 0-3 months worth of our living expenses, then 3-6 months worth. We skimmed off the top whenever we needed to purchase something big in order to use cash versus credit whenever possible. At this point, we are close to 10 months worth of living expenses and are slowly working towards a year's worth.
"Kind words can be short and easy to speak, but their echoes are truly endless." - Mother Teresa
RIP Sidney 1994-2010 RIP Charlie Brown 2008-2010
"Full" expenses include
Rent, Utilites, all insurance payments (auto, home, life, full medical), auto upkeep at current level, food, clothing, kids activies, travel expense account (incase of death, family need, etc), daycare fees, etc
Mom to J and never-ending , 0/2014 items decluttered, 0/52 crafts crafts completed
Seeking zen in 2014. Working on journaling and finding peace this year. Spending my free time taking J to swimteam