On living honestly

This morning, Luke and I registered Kara for preschool.

Well, technically, not preschool. It's categorized as a children's ministry program, offered through a nearby church. Four hours a day, one day a week. The program isn't accredited with fancy acronyms, and the staff members don't have teaching licenses, but there will be free play and music and snack time and show-and-tell and take-home bulletins once a month. Plus, we'll have to get her a backpack and lunchbox. So for a two-year-old girl who's been hanging out at home with her dad and her baby brother almost her entire life, it's close enough.

It's plenty close for her parents, too.

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In an effort to get a better handle on our finances, Luke and I are trying something new at home. Suze Orman calls it the back-to-cash movement. I like to think of it as our new reality.

The new reality is this: Gone are the days where we put everything on the credit card and pay for it at the end of thirty days (which, near the end, wasn't working out so well, anyway). Good-bye to Excel spreadsheets that were intended to help us budget on a monthly basis rather than per-paycheck. From now on, if we want to buy something, we are going to the bank, making a withdrawal from the ATM, and paying for it in cash. There will be occasional exceptions, of course, like purchases online or the occasional Redbox rental, but ninety-five percent of the time, them's the rules.

We started on October 1. Six days in so far, and doing well.

 

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Luke and I have been talking a lot about what we want to accomplish in the short term--realistic goals we can achieve in the next six to twelve months. In the short term, we want more social networking opportunities for Kara and Nathan (not the Facebook and Twitter kind), to give them a chance to explore interests outside the confines of our living room, interacting with adults who are not us. We want to enjoy financial freedom and not have to itemize every single penny of a paycheck two months in advance in order to afford concert tickets or Christmas presents or a random date night. We want to formally close the baby chapter of our lives by New Year's and put our house on the market come spring. And I want to volunteer.

However, we're also in agreement on what we don't want. For example, we are not quite ready to enroll Nathan in any sort of program that takes him out of our care. He can have a few more months of home time with Luke and Kara, and enjoy the precious one-on-one time he's about to score with his dad, and at least blow out the candles on his second birthday cake before we re-evaluate our position. Also, we are not ready for Luke to go back to work, even if we could put another salary to good use ($1,600 worth of car repairs on the Outlander, I'm looking at you). We appreciate and depend on the benefits of being a one-income family: the extra bonding time for Luke and the kids, the flexibility of managing only one work schedule, the ability for me to concentrate on my corporate to-dos as needed instead of tossing my laptop into a bag the minute the clock turns five. We wouldn't be any worse for the wear for having those issues, but they would most definitely complicate things, and we have all the uncertainty we can handle right now, thankyouverymuch.

We've talked about me picking up some freelance work or Luke taking a part-time job with night and weekend hours to bring more money through the door, but honestly, right now we are content to just buckle down and do the best we can with what we have today. There is enough to pay the bills and buy the organic yogurt we like and travel north and even score dinner out once and a while. We are beefing up our short-term savings and still making regular deposits into our health savings account for medical expenses. We don't need a second mortgage, and we aren't defaulting on Sallie Mae. In every area that counts, we are fine. And believe me, we are thankful.

But still, we are making hard choices, like back in August when we discontinued satellite. This month, we stopped all contributions to my 401(k), an account that's been funded every two weeks rain or shine for the last five years AND saw generous matches from my employer, to make room in the budget for Kara's tutition. I am disappointed over this and understand there may be long-term ramifications come our golden years, but I do not regret it. Luke and I have been preparing for the future since before we even married. We're proud of the money we've accrued for retirement already. But right now, it is time to plan for now.

 

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In a conversation with Molly earlier this fall, she used the phrase "living honestly," and it has stuck with me ever since. Because that's what it feels like we're doing now: living a life that reflects our priorities and our resources, and sorting out the white noise that only gets in the way. For the first time in a long time, we're putting our money where our mouth is. What's that worth to you? I ask about almost everything now, from wedding RSVPs to a bag of Gummi Bears to preschool. What are you willing to sacrifice to make this happen?

Our short term is paving the way for the long term, a reality in which we are mortgage-free and in a position to entertain housing options that bring us closer to our loved ones, who I am missing more than ever these days. A reality that has both of us in careers that we love and best align with our strengths and passions. A reality that includes another child, obtained in a non-traditional way. It will take baby steps, but we will get there. I know it in my bones.

 

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As Kara and Nathan grow older, I become more aware of all the ways we can screw them up. I know, I know, they're only babies, all they need is love, blah blah blah, but even at this young age, we are setting the bar for how they will realize their potential. Take Kara's "school," for example. She'll be three in December, and is intellectually capable, I think, of handling a (slightly) more rigorous curriculum than the one we are placing her in; kids younger than her do this all the time in daycare, yes? But that benefit of school is not important to Luke and me right now, and as a result, her experience will be missing that formalized educational component. We'll revisit our feelings next year, obviously, but for now that's where we stand. 

We are also setting the bar for ourselves, I suppose, in regards to what Kara and Nathan can expect from us as parents. We did what we felt was necessary to get Kara into school, but we didn't even consider placing her more than one day a week (baby steps, remember?) or research more expensive options like the Goddard School or Montessori. We already know that retirement savings will always trump a 529. Many parents have different opinions on this, and that's okay. But as much as Luke and I want to give the kids the very best of ourselves, we are going to make ourselves a priority, too, and not apologize for that to anyone.

 

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I have come to learn that as a mother, I enjoy the toddler years far more than the infant ones. Kara's humor and sass are shining through these days, the product of two wise-cracking parents, to be sure, and builds upon both by relying on her razor-sharp memory. One day while we were eating dinner, she thought it a good idea to let milk dribble out of her mouth. She laughed as the milk traveled down her chin, and I hid a smile as I said, "Kara Leigh, please don't do that, that's not funny," and she replied, "Well, maybe a little funny," a phrase Luke uttered in passing the day before. (Thank you, dear.)

Meanwhile, Nathan speaks in full sentences and punctuates the majority of them with a question mark. "What's that noise, Mommy?  Want to build Mrs. Potato? Where's the moon, Mommy? Is that a oak leaf, Mommy? Want to read Turtle, Turtle, Watch Out? Should Momma hooold you?" And so on with the inquisitiveness. He is so curious, so observant, so willing to sit back and watch the action unfold. That is, when he's not bouncing off the couch, roaring like Michael Jackson circa "Scream," or body slamming his torso into the nearest gate.

They both have insatiable appetites for reading, which has been further enhanced by the recent discovery of our local library. At first I was worried they wouldn't get the concept of borrowing books, afraid they would pout and fuss when it came time to return them, but they totally get it, and now live for the next chance to play with the trains and scramble through the catepillar tunnel featured in the kids' room.

Our new reality is that our toddlers are becoming full-blown children. And man, do we just want to do right by them, and ourselves, too.

 

Comments

[Katie]

great post! I still love reading them!

[daddyd]

Well thought out. The long term operational mode for us has been to pretty much live within one income. The other when we had it was saved and not spent. That has worked out over the long term.

[shawnna]

Wonderful Post! "Living honestly" What a great phrase. There is not need to keep up with the Jones...they're in debt too! We are on the Dave Ramsey plan. It has been an adjustment, but we are loving it!! So far we have paid off Dans school loans and my Odessey (which we bought brand spanking new in 09) Working my my school loans now. As for our house, instead of paying this one off, we are saving to buy the next one with cash. We still make contributions to the 401K, but only what it matched. We've stopped adding extra. We have never had credit card debt...which seems to help the transistion to cash only.
I loved what you said about "What is it worth to you?" Forking over cash can truely make you rethink the "worth" of something.
You are changing the legacy of your family...Congratulations!!!!!

[Jen L.]

Fan.freaking.tastic post. I have lots to say, but it would take up far too much space. So I'll just say HOLY CRAP when did Nathan get so big?

[eva]

Great post, thanks for sharing so much of your inside voice with us so honestly yet again!
Why are you selling the house? Where are you going? Did I miss something???