Ready or not, 2015 is knocking at the door! I’m always both excited and anxious for what a new year holds. I know what I’d like to accomplish in 2015, like birthing a second baby in about 15 weeks. Other than that main goal — which isn’t really a goal at all, Johnny and I are still nailing down our New Year’s resolutions. So instead of looking forward today, I’d like to look back on our most favorite posts of 2014.
We automate every aspect of our lives that we can — except our budget. Johnny and I like to feel the pain of entering in every single expense as it happens. It helps us play an active role in our budget, which in turn helps us to stick to our budget each month. While we love using Mint as an overview, it’s just too automatic to use as our main budget.
Our reasons for having a Roth are simple. But the most important remember are these: you’re going to get old, and compound interest is THE bomb. If you, like us, are looking for more ways to be ready for retirement, it’s time to look into a Roth IRA.
I won’t name any names, but one of us is more prone to spending than saving. It might be me. But who really knows. The point is, if you and your spouse/boyfriend/girlfriend have different saving and spending philosophies (and you likely do), you can still have a successful budget.
There’s no simple answer to this question, but we took a stab at it anyway. We looked at what the experts had to say, and then we chimed in with what we did while we were paying off our debt. For us, the answer to this question was a big YES, and it might be for you, too.
In May, I quit my full-time job to stay home with Sally. This was one of our biggest decisions of 2014, and we’re happy to say it’s been the right one for our little fam. Oddly enough, I now feel more invested in our financial future than ever before, and I hope to help contribute financially where I can in 2015.
We shared one of Johnny’s best tips for lowering your monthly bills — picking up the phone and haggling. It works like a charm, and as long as he continues to do it, we’ll use this method forever.
A roundtrip flight with a toddler can either be the worst thing in the world or it can be… tolerable. It’s never the best thing. We took a flight to DC with Sally in July, and we’ve since flown with her more times than a sane person should. So we shared what we learned from being in a confined space 30,000 feet in the air with an unpredictable ball of energy.
We looked at the pros and cons of fun-size contributions to a 529 versus king-size contributions. Our conclusion? If you can, contribute to your 529 in a few big chunks to maximize your compounding interest potential. In 2015, we’ll share more about exactly what we did, just in time for us to have another baby in need of a 529 :).
Instead of creating a budget and then deciding how much you can save, what if you first decided how much you needed to save and then created a budget to make it happen? Welcome to backwards budgeting. Johnny and I are super fans of this form of budgeting, so look for more on this topic in 2015!
Yup. We created another human. Or rather, there’s one still in the process of growing in my belly right this moment. Either way, we can’t wait to meet her come April! Next year, we’ll be sure to share all the budgeting ins and outs of adding another kiddo to our brood.
2014 was full of changes, and moving to NYC might have been the most unexpected change of all. But here we are! We’re excited to share more about our downsized life and adjusted budget in 2015!
Thanks for reading along with us this year! We’re ready to kick 2014 to the curb and have our best year yet of OFB in 2015.