[speaker001:] Okay, so, um, yes we do keep, uh, well we started out keeping a budget about two years, ago, we have a computer, here at the house,
[speaker002:] Uh-huh.
[speaker001:] and I made a Lotus spreadsheet and went through the year using all of our, our checkbook to figure out what we spent each time and whether we were over or under for each month and then basically since then what I've done is, is keep track of it through the checkbook so that based on whatever we've got coming in, the check coming in, [child talking] then how much I'm spending each half of the month and then trying to also spe-, because our house payment is once a month, that's our, our biggest, uh, expense so I take half of that amount out of my checkbook each, with each paycheck,
[speaker002:] Uh-huh.
[speaker001:] even thought it's really still there,
[speaker002:] Uh-huh.
[speaker001:] so that I can keep, uh, uh, good balance,
[speaker002:] A running total.
[speaker001:] a running total, yeah through the month,
[speaker002:] Yeah.
[speaker001:] What do you all do?
[speaker002:] Uh, we've, we've, uh, taken how much we have, you know, write down how much we have coming in each month and then, uh, we've, at the beginning of the year we sat down and determined how much we could spend. We sat dow-, made up different accounts like, you know, we've set a budget for each, you know, household expenses, or food, and clothing and entertainment and then our, our own fun money and just stuff like that and then we write down each, each time we spend something, we write down in a book and at the end of the month we tally it up to see how close we, you know we, we try to stay within a certain budget, so.
[speaker001:] Is it, is it hard to keep track of it or does it work out pretty well?
[speaker002:] Um, it takes some, it takes some dedication to do it, but it, it works out real well, so.
[speaker001:] And, and you're staying within your budget and keep-,
[speaker002:] Uh-huh.
[speaker001:] everything is working pretty good.
[speaker002:] Yeah, yeah, I stay wi-, I have to stay within it, so I, you know, and then we have that, you know, if you can't stay, if something comes up and you can't stay within it then we have, uh, you know, a budget for, you know, like we call our slush fund or something and some-, an unexpected comes up, then you're not, you know, you don't feel it so strapped.
[speaker001:] You don't have to go out and borrow it somewhere and do that.
[speaker002:] Right, yeah, because we don't, you know, we don't charge anything that we can't pay off by the end of the month.
[speaker001:] That's a good choice, we've been trying, we're trying to, uh, do that this year. We've budgeted the money that we used to spend, we were spending on a CODA account with T I and then money we were also buying stock with for that year, we've taken that this year,
[speaker002:] [Talking to someone else in the room] You've got paper under your table.
[speaker001:] and said we're going to pay off all of our credit cards and, uh,
[speaker002:] Uh-huh.
[speaker001:] we have, uh, another loan with the bank,
[speaker002:] Uh-huh.
[speaker001:] and so we hope by the end of this year,
[speaker002:] To be out of that.
[speaker001:] that by doing that we'll be free,
[speaker002:] Free.
[speaker001:] and clear.
[speaker002:] Yeah, the only thing we have, it to pay off is our, is a automobile loan and our house payment, and that's the only thing we ever,
[speaker001:] That's good to be in that kind of shape.
[speaker002:] We try to stay out of debt [child].
[speaker001:] What are you all trying to do long term.
[speaker002:] Huh. Oh it's long term. We just, he ha-, you know, his retirement plan and then to CODA and stuff like that, that's all we, and you know, we just have our life insurance for right now.
[speaker001:] Uh-huh.
[speaker002:] So, we don't have any long term, you know, in stocks, or anything like that right now, so.
[speaker001:] Yeah, mostly what we're doing, we've worked, we've done the, uh, CODA account with T I where they, we put in so much a month, and then they, or so much a pay check and then they match it.
[speaker002:] Yeah, that's what we're doing.
[speaker001:] So that's, that's worked out pretty good and then, I used to work for T I and I have, when I retired from there, or left, I took the money I that I had in mine and put it in an I R A and we had an out, we had an existing I R A so we have, both of us have some money in an I R A that we're also trying to figure, to, put it, we're putting it in C D's right now,
[speaker002:] Uh-huh.
[speaker001:] and then we're also looking at it in possibly getting a mutual fund.
[speaker002:] Yeah, when ever we get enough saved we stick it in a C D for a while and, then, uh, you know and then when, if we need it we wait until it, it's expired and then so,
[speaker001:] Yeah. The other thing that we've done, that, that was really nice to see, we had one of the financial companies, um, han-, uh, John Hancock company came out and their agent did a long term analysis based on salary and, uh, what we were pla-, what, what our, uh, goals were on a long term budget in terms of retirement, kids college, paying off the house, buying a different house,
[speaker002:] Uh-huh.
[speaker001:] um, special thing, buying land and building our own house and they did an analysis for us based on what we were putting in and the time frame that we wanted to look at,
[speaker002:] Uh-huh.
[speaker001:] and then gave us a good idea back, you know, some good information back on whether or not we were going to achieve those goals,
[speaker002:] or not, yeah.
[speaker001:] and, or not, and what we needed to do so that we could achieve them and the money we could put in at what time.
[speaker002:] Uh-huh. That sounds interesting, we've never done any-, we have, you know, just our, our life insurance guy has come out, you know, and he's set up, uh, you know, determined how much we need to, you know, we need if something were to happen.
[speaker001:] Yeah, that, that's the other financial thing I guess that we've done is with our life insurance is, since I'm at home now is, is figuring out, uh, what we would need if something happened to my husband, or what he would need if something happened to me, that's a, a big thing to think about.
[speaker002:] Right, yeah, you know, if, I would sell the, you know, if, he, something would happen to him, I wouldn't stay in Texas, I would, uh, sell the house and move back home, you know, to my home town, and, and, uh, I wouldn't stay here in Texas, so you know, I don't know what he would do.
[speaker001:] Okay, I guess that's most of my, um, financial plans right now.
[speaker002:] Yeah mine too.
[speaker001:] Is, is there anything you'd like to add?
[speaker002:] No, that's about all for mine.
[speaker001:] Well it's been nice talking to you.
[speaker002:] Nice talking to you too.
[speaker001:] Bye, bye [baby].
[speaker002:] Bye, bye.