4/23/2013

Conflicting Priorities

Posted by with 2 comments
There are a lot of things that Jordan and I want to do, to have, over the next few years and while we want it all, we know we can't have it all - not at the same time anyways.  We're going to have to have a staggered approach.

Here's what we want:

  1. A family, we'd really like to have a baby
  2. Our back yard to be finished
  3. To pay off our Car Loan
  4. To invest in a property that could provide income in retirement
  5. A house with a backyard bigger than a yard stick
I  have budgets for just about every scenario:
  • Paying our Backyard in Cash this year (current plan)
  • Split an annual camping spot with my mom
  • Paying off our Escape in 2014
  • Going on Maternity leave in 2014
  • Going back to work w/ Baby in childcare and paying off the Escape in 2015
  • Buying a Condo in 2014, 2015, or in 2016

You'll have to click on the image to look at them in more detail - but these annual budgets give a big picture view of some of our options.   There's an assumption the our income won't change (which it will) and I didn't include planning purchases like Christmas, Gifts or upping our Emergency Fund but you can see that I included Retirement/Education Funds in each scenario and that there is cash flow remaining under each one as well.

What have you done when you wanted it all?

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2 comments:

  1. Nd.chic23 April 2013 at 14:33

    I have just prioritized and tried to make a decision on what was really important at the time. Some things can easily wait and others can't.

    ReplyDelete
  2. Moonwaves6 May 2013 at 05:01

    I've actually done something similar but just based on different salary levels to try and help me figure out exactly what the lowest amount is I can live on and still have money for the stuff I want to do. I'm planning to switch jobs in the next 2-3 years and what I want to switch to will never pay as well as the company I'm in now (but I earn that extra money with far too much stress so I'll be happy enough to trade less stress/more enjoyment of work for less money). I did up multiple spreadsheet with varying salaries and that was very useful. I'm working on plans now to get a certificate or two in hand before I make changes which would make earning a side-income a realistic proposition, too. Congratulations on your promotion. I don't read along very often but have dipped in and out of your blog over the last few years and it's always nice to come back and see good news.

    ReplyDelete

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