Weekly Financial Newsletter – August 12th, 2018

We done did do it! Paid off those pesky student loans, what a time to be alive! A huge thanks to my wife for supporting me in trying to get those suckers eradicated and letting me spend all our hard earned money. I know it was a big pill to swallow sending off 50% of our income every month…

Now that that business is out of the way, we can focus on building up our cash/cash equivalent savings for buying some vehicles when the time comes.

Cash: 8,081
HSA: 1,361
Checking: 906
Business Checking: 768
Savings: 5,045

Business income for the week was $231.

The stock market had a good first half of the week, then immediately lost all momentum at the end and finished mostly flat.

Portfolio: 61,551 (up $40 since last week)
His 401k: 38,285
Her 401k: 16,373
SEP IRA: 6,893
Brokerage: 0.10

Debts. NONE!! Credit card balances are at around $300 and I skipped zeroing them out yesterday and will wait until next week when our cash on hand reserves are replenished, just to keep a nice buffer.

Spending for the week:

Mostly low except for my FINAL loan payment and her quarterly hair appointment.

weekly_expenses_081218

Student Loans 3,849
Hair 320
Clothing 229
Groceries 211
Restaurants 94
Bars 34
Parking 8
Gifts 7

The last and final order of business is the calculations for the remainder of the year when it comes to maximizing our pre-tax accounts to save on our tax bill.

With both of our raises, and if we do max contributions (600/month) to 2 HSAs for the rest of the year, we will still have about 4.2k of net income per month to work with and we’ll save $1900 on our tax bill, and have $6900 extra pretax dollars in our pocket! (did someone say Lasix?) I think it’s the right move, but we have to discuss further.

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