Irritable Discussion

January 11th, 2008 at 10:32 am

My wife and I had an irritable discussion. We need to free up 13k per year to pay for day care (twins are due in June- babies 1 and 2 for us).

We found most of it:
$625 (cancel my Roth IRA payment each month)
$250 (cancel wife's Roth IRA payment each month)
$220 (pay of wife's student loans early.

I remember a budget conversation 2 years ago and I had mapped out a plan to pay off wife's student loans by April or May. Then a few months after the conversation she changed her mind. Now that we need the money the discussion was not pleasent.

It will take $3000 to pay off the loans (to free up the $220/month needed). Loans are small ($600, $700, $400, $700, $550 type ammounts) with low interest (7%).

It's tough when one spouse plans (me) and one does what she feels like (wife).

Irritable discussion- that's our PC term for we did not agree.

Posted in Spending | 5 Comments »

5 Responses to “Irritable Discussion”

Broken Arrow Says:
January 11th, 2008 at 07:48 pm

Wow, talk about Deja Vu.

Not that I was as financially organized as you, but my ex-wife was most certainly a "buy whatever I feel like" gal.

I swear I will never, ever, be with a woman who is not at least financially aware again.
Livingalmostlarge Says:
February 26th, 2008 at 06:00 pm

Okay I'm stupid and don't know enough but I have to ask why are both working with twins? Do you make about the same amount of money? Then I can totally understand. Or is one providing the medical benefits so the lower income person can't not work. Where we live one kid is $1800-2k/month. I can't imagine paying twice that at one time. I make $2k gross/month, sigh, and I want to finish school so the kid would go. But I do realize I'd be paying someone more than I make to work.
jIM_Ohio Says:
February 26th, 2008 at 06:43 pm

Day care for us is $25/day per kid, or $250/week. That is with sister in law, under the table.

Wife earns less than I, but will probably earn more if she continues working. We could scrap IRAs and 401ks and live off my one salary, but those are sacrafices we have talked about and do not plan to stop.

401ks keep going
IRAs shift to diapers, and my soccer money now goes from extra money to IRA contributions.
Livingalmostlarge Says:
March 1st, 2008 at 12:49 pm

So is the incomes abourt equitable? That makes it so hard to cut one persons income. I know all these people say "oh someone should stay at home it's more economical." It's more economical when someone makes $80k and $20k for the other. But not when each makes $50k + $50k. Then cutting 50% of the budget is a lot harder. KWIM?
jIM_Ohio Says:
March 1st, 2008 at 12:54 pm

My wife's career oriented, and even though she makes less than me, she will make more sooner or later.

If she gets a 25% raise, she will have caught up, if I take a 33% pay cut, that would also allow her to catch up.

jIM_Ohio is Investing to retire early

Instead of making retirement a question, make it a sport- can I do it and how fast?

Irritable Discussion

5 Responses to “Irritable Discussion”

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