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Take An Action: July 23

July 23rd, 2018 at 07:20 am

CB, I like your term "gap year." I'm in the middle of mine. I can't take Social Security until next year, and we're about out of liquid savings that we can withdraw without generating taxable income.

I played around in Quicken this weekend, trying out different scenarios through the end of this year. The state of our projected checking account balances made me very nervous.

After sleeping on it, I decided that the most sensible thing to do is change to monthly payments on our car and homeowners insurance. Otherwise, paying the big lump sums this fall would tap us out, and I'd end up not being able to pay our credit cards off in full each month anymore. The $1 a month service fee on the insurance is a lot less than credit card interest would be.

So, it's done. Once my Social Security kicks in, we can go back to the annual billing.

Another action I took this weekend was using up some dry milk in pancakes, to conserve fresh milk.

1 Responses to “Take An Action: July 23”

  1. CB in the City Says:

    Good thinking! During a gap year, it's all about the cash flow!

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