Reply to What would you do with a greatly increased HHI?

Forum Index » Money and Finances

Reply to "What would you do with a greatly increased HHI?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]DH and I have been doing fine for the duration of our marriage, largely because he is good with money, and because he had a decent cushion/inheritance from a parent who died young.  I've learned a lot of his habits (mainly, not spending money whenever possible!).  Since we've been together we've both gotten through grad school and are now starting to reap the benefits.  Over the past 2 years our HHI has increased quite a bit, and I am looking at an upcoming promotion which will increase it even more.  We are generally (not always) on the same page regarding money, but going forward, I want to make sure we are making wise choices.

We both have student loan debt (about $16k total at this point), and we have a mortgage, but no car payments, credit card debt, etc.  We have $25k in emergency savings.  We have 529s for our 2 kids and contribute about $1k a year.  Both of us put about 10% of our (current) earnings into retirement.  We give some money to charity throughout the year, but it's a small percentage of what we make.  We moved last year into a new home and can comfortably afford the payments; we have plans to fix things up and will eventually have some large expenses (new windows, new HVAC) but nothing is urgent, and we are happy to do things ourselves whenever possible, so I don't see a big remodel making it onto the list of priorities.  We love to travel and will likely take "bigger" trips than we've done in the past, especially as our kids get older, but our kids are preschool age and I don't really want to trot the globe with kids too young to remember or appreciate it.

If you were us, what would you do with this increase, and in what order?  Or, if you have a great financial book to recommend, I'd love a suggestion.  FWIW we did meet with a financial planner when I was pregnant with our first (6 years ago) but neither of us came away impressed or feeling like he told us anything we didn't already know, so I'd be reluctant to go that route again.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics