What would you do with an extra $600 a month?

Since February, M and I have experienced a few changes to our financial situation, both positive and negative:

  • I went down to working only part-time
  • I picked up some consulting work
  • I added tuition to our costs by going back to school

Our most recent change, which comes into effect this month, is that we have taken L out of before and after school care, as I have the flexibility to pick her up every day at 3:00.  As a result, we now have an extra $600 a month to play with.  While we could technically use this money entirely as fun money, we have decided to be semi-practical and spend this money the following ways:

  • $300/month (in addition to what we are already paying) to expedite paying down the last few thousand dollars on our line of credit.
  • $100/month for a recreation and entertainment fund to cover the girls swimming and dance, my volleyball, M’s hockey, and all the fun things we try to do with the girls.
  • $100/month increase to mine and M’s monthly ‘allowance’ (extra $25 every 2 weeks for both of us).

That leaves us with $100/month remaining which is just sitting as a buffer.  Maybe I can finally convince M to get a cleaning lady 🙂

What would you do with an extra $600 a month?

4 thoughts on “What would you do with an extra $600 a month?

  1. that is an excellent question 🙂 I have been meaning to remove some unnecessary expenses from my life. The future ability to use the funds saved in other parts of my life is an exciting feeling 🙂 I could not figure out what I would do with the saved funds yet, but I am moving in that direction. Thanks for this post that reminded this to me again.

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