:::: MENU ::::

Browsing posts in: Budget

Working with the Twins – Young Adult Budgets


The twins and I have met (individually) to discuss their budgets and goals. They are working with quarterly budgets and starting (really just starting) to think long term when it comes to their finances.

I am covering their room and board now, but they are responsible for all their own monthly bills, spending money and school expenses. It has been a learning lesson for us all.

How We Created their Budget

These are the categories we used to plan their money:


Individual subscriptions (Hulu, Xbox, Spotify, etc.) – these vary for each of them
Cell phone
Car Insurance

Car Maintenance – oil change and then a little extra for other regular car care items such windshield wipers, tire rotation, etc.
Special events (varies by season) – this quarter we discussed including extra monies for our Thanksgiving Trip to Texas, Christmas presents and a trip they plan to take over the Christmas holiday back to Virginia

Once we had these numbers, we divided them up into weekly/bi-weekly amounts based on their pay schedules with their jobs.

How the Money Works

Once we knew the number they needed to have available to them for these expenses, we made a plan.

  1. Every time they get paid, they put their monthly and quarterly monies into their personal savings so when those expenses/bills arise, they have easy access to the money.
  2. They also “pay themselves” their weekly money and put it in their personal checking or withdrawal in cash, whichever they prefer.
  3. The remainder of their paycheck gets moved into a shared checking account. (Each twin and I share an account.) This is not to be touched without a discussion with me. We call it their nest egg.

Because Sea Cadet has been working on this for quite a while, he has another account where we put $500 which is for car maintenance. This is for any major repairs, etc. that he might need for his car.

I plan to do the same with History Buff, but he’s just getting on his feet so it will take a little while.

What about an Emergency?

I believe this is a good jumping off point for them. They are responsible for making sure they maintain their personal savings with no oversight from me for the budgeted items and know that if it comes time for any of the pre-planned budgeted expenses, they will not be able to withdrawal any additional monies.

But having their nest egg allows them to have an EF of sorts. Sea Cadet has dipped into his nest egg a few times:

  1. When his hours got cut and he didn’t have enough to cover his budgeted needs. It was a small amount but really nice for him to see that savings at work.
  2. He had to purchase some medical supplies and uniforms for his EMT courses and clinicals. Again, not a significant expense but something unexpected. And it was really nice to be able to buy them without stressing at all.
  3. When his cell phone stopped working, he was able to purchase a new phone on Amazon quickly. (He later found out that his phone issue was a the result of an Apple defect and they fixed it for free and he got this money back.)

Long Term

They really are just starting to think long term and the money required for that. They both dream of better cars. (I just hope their cars make it until they are done with college.)

Sea Cadet has his eye on the prize of graduating with his Advanced EMT diploma next August and plans to move out. He’s really earmarking his “nest egg” for that move and possibility of being independent and  out of a job/income for a while when he moves.

We haven’t talked numbers for these long term plans yet, but they are starting to think about them. And they are definitely enjoying the freedom (from stress and otherwise) that having a nest egg gives them.

I’d love to hear ways you helped your young adults launch into the world post-college specifically when it comes to finances and planning!


Hope’s Anticipated Spending – Week of 10/12


Life has taken on a bit of a predictable routine that we do not typically have. Work and school, dinner as a family and then everyone retires to take care of their own business – homework, preparing for work the next day or just relaxing. For the first time, maybe ever, I feel like we are a “normal” family.

Anticipated Spending - Week of 10/12

Income *after taxes$524
Auto/Renter's Insurance($267)
Justen (car insurance)$100


It’s what each of my kids has always dreamed about, or at least spoken of as a goal. But the reality is not everything they thought it would be. I think they are getting a little bored.

I, for one, am enjoying the chance to breathe. No running from place to place. No rushing meals. Plenty of time to prepare for the next day and spend time with the kids. I’ve even gotten some reading time. And I know this won’t last forever, or even for long!

Work Update

My client base continues to grow steadily. I am ALMOST full as far as weekly clients go, but continue to apply to avoid what happened a few years ago. And I have left room to pick up one time projects which I really enjoy.

I am starting to think of ways to scale my business as I only have some many hours in the day that I can sell myself. But really don’t have any firm ideas. I do still continue to deliver groceries and continue to put out feelers for more of that type of work.

Kid Update

I am in talks with the local parks and rec department and another select volleyball team for Princess and friends for the spring. I hope to have a solid plan this coming week. And today I will meet with her high school guidance counselor to plan out her remaining high school year and making sure she gets the most out of it.

Gymnast is still homeschooling. And going to gymnastics one day a week. I have high hopes that he will get the opportunity to try public school again, but I believe I will wait until the next school year. There are a lot of bad habits and experiences from time at the local middle school that I am working out how to get past and undo.

History Buff started a job with a tree service this week. It will be hard and he will have to get up early. But it’s a big step in the right direction. We will finalize his school registration for the spring next week, and he will continue to work on the basic subjects as refresher to prepare for next year.