June 03, 2008

How do they do it?

With R being a student this year, we have gone down to one income. We have done this before, but not with two kids... My sis-in-law and bro are on the same income, also with two kids. I'm really wondering how they do it? They even have a mortgage to service which we don't, which makes it even more mysterious as to why we are just bumping along. I mean, I'm on a pretty good income, more than NZ's average and we are still getting along only just in the black - and it seems quite likely to turn red in the next month if we don't mine savings again. We don't go out, we don't drive much, we don't spend lots on food ($150 a week, give or take). When I look at our statement I don't see much waste.

Perhaps we are trying to save too much. Wouldn't that be a strange thing to be doing!

I have to admit we are not following a strict budget, we just make sure we are in the black and leave it at that. We try not to splurge on stuff without being too scrooge-like. Money is soo stressful sometimes. The next two and a half years are some of those times...

Posted by Toni at June 3, 2008 09:01 PM

Money is a worry for most people. Also, no mortgage? Are you renting? My mortgage actually worked out cheaper than when I was renting. It depends a bit on when you obtained your mortgage though. I know friends who bought a couple of years after us have it much worse for a similar property, just due to house prices!

I suspect your are over busy. Term 2 is the main teaching term after all!


Posted by: Giffy at June 7, 2008 01:10 AM

No, we own the house. R worked in the army for 20 years and got one of those Big superannuation payouts. So we only paid a mortgage for 3 years. It should be noted though, that this had nothing to do with good money management...

I've just been marking exams - there is some serious teaching to be done. Not Impressive.

Posted by: toni at June 7, 2008 08:31 PM

Do you have another set of "practice/school exams" (our school put pressure on the teachers not to refer to them as "mocks") later on in the year?

Well done on no mortgage!

I worry about one income with kids. Luckily Beau's income is *good*, but going on OE this year means that we might all our savings. We're both working quite a lot right now (he's doing ridiculous hours some weeks (70+?)I do 9-5, but do more of the housework/shopping etc) and the plan is that later on in the year we both stop working and *just travel*.

However, this means we may not get back to NZ with much money and have plans/hopes for offspring! We've got a plan for money earning, just hope it all works out.

Money is *such* a worry!

Posted by: Giffy at June 10, 2008 01:47 AM