Almost Ready to (Not) Panic

May 8, 2018

Hey Everyone,

May has arrived. The last month of the GI Bill for Husband. I can’t believe that we’ve been anxious, planning, and hoping to avoid this event for the last 18 months. The next 4-5 months are going to be a little rocky for us, but with planning and perseverance, we will overcome all obstacles. Also, Husband was able to get his final semester paid for by financial aid, so we are just worrying about paying for Summer classes, and then our monthly bills for June, July, August, and September (I actually really don’t like the month of September because we always seem to be struggling during this month of the year).

As a breakdown, we have $1,000 for the cost of Summer tuition (with an additional $500 from MIL, love that woman for always supporting her children’s education) for a total of $1,500, and then another $500 for books. If my husband could purchase second-hand books, or just not buy any at all that would be perfect but it seems that no matter what college books are highway robbery, especially when they require an online code that by itself usually runs $100-$150 and can’t be used ever again or by anyone else.

June is a three paycheck month (1, 15, 29) with two bonus paychecks (1, 29)  for me and just the normal 2 for Husband, so we shouldn’t have to transfer any money from savings to cover the beginning of the month’s expenses, and there might be enough left over from the June 29 paycheck that the whole $1,200 amount we put aside to be transferred each month for July, August, and September. Like I said, September is going be so tight that if anything were to happen we might just snap, and not in a good way.

Adding to our debt is not an option and so we are not using credit cards or making anything less than the minimum on our lowest loans. The car loan is almost finished, and since we decided to pay that off with lightning speed (9 months instead of the 36 months, payment was supposed to be $117, but we’ve been paying about $702 a month) that will give us some extra breathing room once that is paid off.

There will be a slight break for Husband between this semester and the beginning of Summer classes, so during that three week period he will try to pick up a couple extra shifts at Wal-Mart, I will try to add in as much OT as the company has available. Also, we will take some time to deep clean our carpets because they are in desperate need of a deep cleaning.

Once October hits we will be in the home stretch to freedom. I will maximize the OT opportunities, and Husband will be in the last months of his educational career (for a while at least). This is a long time coming.

After graduation in December, where he will walk his happy butt across the stage, he will start the interviewing process (if he hadn’t already started beforehand) to get a job where they pay at minimum $3,000 a month, after taxes. It’s a great goal, and with the annual salary for a Level I Accountant at 10% being $42,110 it’s not unreasonable, it might actually be low balling ourselves because he’s graduating cum laude, dean’s list 6 semesters running, and is a member of three different honor societies. Moving from $800 a month up to $3,000 will be such an income boost we will be debt free before we know it (24 months or less).

Right now we are at $75,000 in debt. I hate that number so much, however, the goal is to be down to $70,000 by December. We’ll focus on Net Worth later, even if we do glance at it once a month. Wish us luck!!

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