We decided to sell your Toyota Minivan. We were planning to keep it as an extra vehicle and to use for trips with my Mom. After much discussion and given the fact that unemployment will be less than half of Matt’s normal salary. We decided to go ahead and sell. We got an online offer from CarMax and made an appointment. We spent a total of 1 hour for the entire process in the store and walked out the door with a check for $10,600.
Paid off every little last debit, we could find or knew about for the next six months. This included things like garbage bill, taxes, tags and inspections as well as a couple of small medical bills. We also went ahead and paid all of the credit card balances to zero. I have been using some of the no interest promos combining with paying off the amounts as they come due. I felt like by going ahead and paying everything to zero, it would be easier to start and use a cash only system. We will continue to use our Sheetz card for gas as it reduces the cost by 8 cent a gallon. We have a set amount of $500 to pay each month on this.
Finished purchasing Christmas presents. I actually already had 3/4 of it completed but this was the push I needed to finish.
Took inventory and completely stocked up on groceries. We added items for appetizers and things we might only use for the Super Bowl as well to this list. I need to make a Dollar Tree run for body wash. We will still need to purchase bread, diary and vegetable items. My goal is to reduce the grocery budget to $300 a month which is half of what we currently are spending. In reality, I may be able to reduce it down to $200 a month after November.
Established an emergency fund. This is placed in a money market account which is still easy to access but separate from our normal savings accounts.