Our third baby is due in 7 short weeks, and in about 2.5 months, I will be without a paycheck. Here are our goals for weathering this financial storm, so to speak, and our progress:
Save 5 months’ of living expenses. Thus far we have saved 58.6%, which is almost 3 months of living expenses.
Have 2 no spending months. Just based on my salary and our expenses, I do not have enough extra income to save 5 months’ of living expenses. One of the ways we plan to get around this problem is by having several no spending months and putting the difference away. This not happened yet.
Sell at least $500 worth of extra household items on eBay. In January, thanks to some old textbooks my husband had to sell, I sold $221, (in addition to the $310 I sold in September – December) so I have sold a total of $531, making this goal 100% complete.
I’ll report back every month and let you know how we are doing!