[speaker001:] um why don't you go ahead first
[speaker002:] okay um short term uh it works out pretty well because we have just enough to cover expenses with a little left over so budgeting in the short term isn't too much of an issue because there's not that much uh
[speaker001:] sure
[speaker002:] extra to go around uh long term is something we're starting to think about because our older child will be ready for college in about uh gee she's eight now so I guess about ten years good heavens
[speaker001:] um-hum
[speaker002:] so we're we're starting to think about long term considerations college and retirement but with not a whole lot of discretionary money it's kind of hard to figure out how to do it
[speaker001:] sure
[speaker002:] how about you
[speaker001:] that's kind of uh similar to what we're doing is um budgeting you know month to month is uh kind of taking into consideration what the bills are and what's extra so that's kind of how we do it uh from month to month depending on what insurance is due or whatever
[speaker002:] um-hum
[speaker001:] um long term that's a little bit easier for us because uh with uh our jobs we can take out extra money towards savings 401K plans
[speaker002:] um-hum
[speaker001:] um that kind of you know retirement plans that kind of stuff so we can kind of put aside some money that actually is better for us not to see versus when it's on the paycheck and you have to try and take out some of that money you always find something a little extra that you'd like to get that month so
[speaker002:] right
[speaker001:] uh long term probably is a little bit better than short term simply because um it's automatically taken out so uh that works out much better for us so that's kind of how we do it anyway but
[speaker002:] and the old uh if you can't see it then you can't spend it uh idea
[speaker001:] exactly exactly and if you can't touch it you can't spend it either so that kind of works out where you get into uh some plans that you know you touch it you're going to get a penalty that kind of thing so it leads you to kind of say well I'm not going to take it out I'm going to keep it and uh keep it in there and let it grow so that some way maybe for retirement you're going to have that money left let's hope anyway so you'll have that so
[speaker002:] right
[speaker001:] that's kind of how we do it but ours is more like month to month too uh short term is to get things going so any way other than that uh is kind of how we do it so I don't know if we're our time is up or what they'll let us know
[speaker002:] um-hum um they'll uh yeah exactly we we actually do have some money in a 401K I just
[speaker001:] uh-huh
[speaker002:] wish I could afford to uh put more away each week because I agree that it's a an excellent way
[speaker001:] oh definitely definitely and uh it grows uh it it seems like at first you're not gonna see a big return but as the years go on if you're with the company for any length of time then it gets much better and uh so you know you just have to kind of look at it that way and there's other savings plans or other things that you can do automatic you know deposit from checks to where you don't see it
[speaker002:] right
[speaker001:] and uh you know exactly whatever is in our checking account is basically just about what gets spent
[speaker002:] yeah
[speaker001:] it's put into our savings account and we don't see it then it works out to where you know you don't look at it you just look at the checking account and say this is what we have for money and that's it so
[speaker002:] yeah checking account's a very dangerous place for money to be I'm convinced
[speaker001:] yeah it it's easy because you do spend it that's for sure like I said you know you kind of look at it uh you you better have some other way of uh savings otherwise uh checking accounts aren't the best for you know long term type of planning so and you don't get a good return on it anyway so other
[speaker002:] yeah I guess there other than things like the stock market or mutual funds there's really not much of a return on anything these days
[speaker001:] exactly right now yeah it's a bad time you know
[speaker002:] yeah the interest is so low I mean it it's nice for people buying homes but for older people who have money in CDs or whatever it must be awfully hard to see rates go down to three and a half percent or whatever
[speaker001:] um-hum um-hum exactly exactly you know we have some in-laws uh that uh had theirs in some money market certificates and other things and uh kind of took them out of that because they got so low but uh yeah it's it drops so your better bet is to uh try to get in with something with your corporation if they have some kind of uh savings plan or something like that to where they kind of match the percentage or whatever so or some kind of profit sharing so
[speaker002:] yeah I'm I'm with a small company now and I hope that uh if we're successful that they'll go in for some sort of profit sharing that'll be very nice
[speaker001:] sure oh that's great yeah okay
[speaker002:] well I guess we're kind of running out of steam on this topic here
[speaker001:] yeah exactly