“As long as we stuck to our budget, we always had more money than expected.'
More than 10 years ago Ryan and Courtney Luke were both working, but with nothing to show for it except big cars and big debts.
“Those goals to us are more important than things anymore. They keep us motivated,” said Ryan, who also has a personal-finance blog. They married in November 2007, and Courtney, handy with numbers and Microsoft MSFT, +1.31% Excel, did some digging on where their money went each month. These days, Ryan buys lunch once every two weeks or so. The family eats out once a month, if that. It felt like a splurge when Ryan recently spent $7 on a Chipotle CMG, -0.64% burrito while at work. “I felt awful doing it. … Just because I’m so trained.”
Looking ahead Since 2009, Ryan’s take-home pay has climbed to $72,000 through raises. All that added pay has gone straight to Ryan’s retirement savings. The couple has six savings accounts, including one for ‘fun money.’ Other surplus money goes to the couple’s savings accounts — all six of them. There’s an account for a car, an account for vacations, a short-term emergency fund and a larger rainy day fund.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How one family went from debt of $55,000 to saving more than $350,000 — ‘the fun money really allows us spend on junk’At one point they had $55,000 in debt, but have found their way out of it by budgeting and re-evaluating what was worth their money. Not on the list: the latest phone or this year’s car.
Read more »
Families Go Deep in Debt to Stay in the Middle ClassWages stalled but costs haven’t, so people increasingly rent or finance what their parents might have owned outright. The unreachable goal for some: becoming a homeowner.
Read more »
Senate Passes Two-Year Spending Deal That Suspends Debt CeilingA two-year agreement to raise federal spending and at the same time lift the government’s borrowing limit will go to the president’s desk after it passed the Senate with more Democrats voting for it than Republicans.
Read more »
The best ways to manage money — and avoid credit card debt — while in collegeWhen you’re away at college, it's easy to spend money on things you don’t necessarily need — or worse, rack up credit card debt. Yahoo Finance writers Kristin Myers and Daniel Roberts share their tips on how to manage your money in college.
Read more »
Late night goes live to make fun of the second Democratic presidential debatePresidential candidates squared off in the first night of the second DemDebate and late night comedy shows went live to discuss them
Read more »