Honestly, I don't know where my motivation is tonight. I got home from work at 6:00, and I have been laying on the couch watching the Saw movies on SciFy for the last three and a half hours! My house is a wreck and I could be doing some extra work for one of my jobs to earn some extra income, but I just feel like a blob. DH will be home in an hour or so, and I really should get some things accomplished before he gets home.
I think I will try to get our taxes finished up this weekend. Our state has announced that refunds are delayed, so I guess the earlier I can get it in, the better. We have to pay for federal, around $150-$200. I need to change our withholding so we owe on state as well. This is the second year in a row my state has delayed refunds. Last year, I filed in January and didn't get my refund till May.
I was thinking about our long term plans today. Once we pay off all the credit cards and cars, I think I will pay off the Wells Fargo student loan, which is a private one at 8 percent. However, I do not think I will prepay any of the other student loans because the interest rates are so low, anywhere from 1.5 percent to 4 percent. I know once we have a baby, our cash flow will obviously go down, but I still think we need to have some type of purpose in mind for our money. Here is my 3 year plan (I am a complete planner who is all the time making lists, goals, and outlines):
2010: Pay off all credit cards except for BOA 1. Pay off the car. Have emergency fund at $3k, baby fund at $1k, and keep retirement contributions at 13 percent of our total household income. Start trying to conceive in the summer.
2011: Pay off BOA 1. Have emergency fund at $6k. Keep retirement contributions at 13 percent or higher. Have baby and will quit one job of my two jobs. Any extra funds can be put into the emergency fund.
2012: Pay off Wells Fargo private student loan. Have emergency fund at $12k. Bump retirement contributions to 14 percent of our total income. Start saving money for when our cars die/when we want to move to a bigger house/the boat my DH wants for fishing.
It sounds good on paper. I need to print a copy out of these and keep it my wallet to remind me of what DH and I are trying to achieve.