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2017 Outlook

December 30th, 2016 at 10:00 am

This year was a pricey one. Moving from the glorious land of low-property values to Nashville (a booming market with a constant influx of people) meant doubling our rent payments halfway through the year. Our utilities were pretty consistent with Ohio, but moving to a new city means getting out and exploring our new home... and spending a whole lot of money eating at new restaurants, visiting new bars, etc. Combined with the fact that we just weren't really watching our spending and I was unemployed for my first 3 months here (with no network to build my business on), it was a bit rough for sure.

But we're starting to right ourselves and plan for the future, now that our lives have a clear trajectory, as DH was accepted into his PhD program.

So. Many new changes on the horizon. And many big questions: When will DH officially quit his job? When will I find one? What will our expenses be like once we do move? How much money will I be making? What will our benefits look like?

The move will happen the last week in May, which really only gives us 5 months to answer those questions, plan our strategy, and execute. That's not a whole lot of time at all. I feel like the last 3 years have included big events we've had to plan for - the wedding, the move to Nashville, and now the move to Louisville. Thankfully, his program is 3 years. So we'll get two that should be "business as usual." Unless a baby sneaks its way in. But as of right now, that's not in the game plan.

All that being said, the focus right now is on saving money to account for some of those question marks. What we DO know is that we will definitely be moving when our lease is up, by the end of May. DH wont start classes in the fall, and thus he likely wont be getting a stipend until then (and we're still waiting to hear back that he's getting one for sure). We expect the stipend to be between $18-20k/year. I also know that DH doesn't want to continue on with his job past our move. So we'll be losing a big chunk of income then. All that basically means that it's imperative for me to find a full-time job as soon as possible - and we need to plan for the just-in-case it takes longer.

We do have some money saved up, but I'd rather not touch it if possible, of course. And there are some things that I think we'd like to do prior to the move - just in case it's harder to do after. Things like funding our IRAs for 2017 (if possible), making any doctor's appointments that need to be made, etc. We've talked about making one last big trip, too. But after a conversation this morning, it just seems like putting it off to the winter makes more sense. I think we're going to do a trip for xmas next year instead of trying to fit one in the middle of such a big transition. We may be taking a trip out to California for his cousin's wedding, but even that is a bit up in the air right now. We priced tickets, and it'll run us up like $1,000. They came to our wedding, but their parents paid for the tickets. It's also about a week before we move, and not great timing. We're not actually close to them, either (I met his two cousins at our wedding last year). So we're going to wait that out a bit and see what the best course of action is.

The nice thing is, once we move we'll be cutting our rent in half. We've started looking at apartments in Louisville, and it seems that we'll be able to find something great within our price range. And I think we're both ready to make some sacrifices there, given that we'll both be working out of the house. Having a lot of room was important to us here - but we both work from home.

I worked out what expected monthly expenses will be in Louisville, and it comes out to be roughly $3,500/month. If I can get a job making at least $40k/year, that should allow us to cover our expenses and put away a bit along with DH's stipend. And I'll be doing photography as a side gig, so potentially we could put away even more. But we'll see. I'm *hoping* I can find a job making at least that much. At this point there are no guarantees.

So we've got some goals in mind for 2017:

[ ] Adhere to monthly budget, continuously
[ ] File taxes by March 1
[ ] Ideally, save an additional $5,000 prior to June 1
[ ] Find an apartment in Louisville for $1,000 or under
[ ] Find a full-time job at $40k +
[ ] Take a trip for xmas (probably Thailand)
[ ] Fully fund IRAs for the year
[ ] Consolidate student loans

And some goals for January:

[ ] Uber Frugal Challenge
[ ] Change phone plan
[ ] Consolidate/put into forbearance gov't loans
[ ] Get HSA stuff figured out
[ ] Start GIS training (for resume building)
[ ] Research networking opportunities in Louisville
[ ] Start putting together planning portfolio

DH and I went through and set up our budget for January. I cancelled Hulu and we'll be doing the same for Netflix. We have Prime and HBO already, so it seems like opting out of these two for a month will be an easy way to save about $20. We're also going to shoot for eating at a restaurant only one time this month. We're going to see the symphony play on the 12th, so that'll be our fancy date night. Otherwise, we're cooking at home. Nobody is visiting this month, and we're not taking any trips - so it should be pretty simple.

I also set our grocery budget to $300. Our "grocery" budget includes toiletries, cat food, and cleaning supplies, etc. So it'll be tight for sure. We just need to get creative. My mom was the master of inexpensive meals growing up. I've learned from the best. And I love a challenge.

***

As for personal goals, they're the same as they are pretty much every year. Live healthier, embrace my passions, work on myself and my marriage. This past year I didn't do a list of resolutions and instead decided to keep track of the things that I did during the year that I particularly loved or was proud of. It's a pretty amazing list for 2016. I have a feeling it will be the same next year. Photography will take a smaller space in my life, but I see it as an opportunity to focus more on what I love about it. My acting and writing are just getting started, and I'm excited to see where they take me moving forward.

There's a lot to look forward to - and so much to do!

5 Responses to “2017 Outlook ”

  1. debt-free by thir-ty Says:

    Good luck with your upcoming changes! I feel like we're so similar in certain aspects, so I always enjoy reading your blog. Good luck on the Uber Frugal Month challenge. Sounds like it'll be a little easier for you than for me!

  2. livingalmostlarge Says:

    Wow can't wait to read about changes.

  3. alice4now Says:

    Love your outlook, lots of excitement ahead for you!

  4. pjmama Says:

    @Debt-free by thir-ty: Likewise! It's nice to have someone facing similar changes to relate to. We're super lucky that January ended up being so chill. But then again, we get the best of ourselves most of the time. Good luck to you as well!!

    livingalmostlarge: Ha! Me too Smile There will be so very many.

    @alice4now: Thanks! I'm trying to stay positive. Everything is so daunting...

    Happy New Year, everyone!

  5. FrugalTexan75 Says:

    You've got some impressive goals. Good luck!

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