Once a quarter I appreciate a brief pause in my weekly blogging ritual to do some reflecting and to express some gratitude in my life. This is a special quarter as it marks the end of my paternity leave from work. In the fall of 2024 we welcomed TresMoneyFinance and my company is incredible in their benefit of offering a 6 month leave for new parents. I wrestled with taking it all vs. some of it and in the end decided to take it all. It’s been an incredible time with TMF (TresMoneyFinance) and I’m also grateful that I have a job I’m excited to go back to!

Here are some of the other updates in my personal finances:

Income

I always like to start this section with some gratitude saying that thankfully both Mrs. Money and I are gainfully employed in jobs we like. That right there is an incredible blessing to be able to say. On top of that, I did get a decently higher than cost of living bump at my job which is awesome because as I’ll get into in the expenses section, our expenses are a lot with 3 kids! With this raise I hope to be able to save and invest a little more, but know that most of it will probably go to our monthly spending. 

We still have a tenant in our rental property and although we had to drop rent to find a tenant, we are thankful that we get enough in rent to cover the mortgage, and just slightly more but I’m finding that there are always little expenses that pop up here and there! The blog as a side hustle has slowed down in terms of sponsored posts which is a bit of a bummer but it’s not the primary reason I do this blog but I am still thankful that I earn a little bit more than the hosting expenses! 

Imaged Credit Unsplash

Expenses

A huge benefit to this paternity leave is the fact that TresMoneyFinance hasn’t been going to daycare which means we haven’t had a daycare bill for the past few months, but that has changed now! Thankfully BabyMoneyFinance (no longer a baby!) is in a state funded pre-K so we’re only paying for 2 daycare bills right now – so better than 3! The winter is always an expensive season of life with all the bills and trying to fully fund 529s and retirement plans so the spring is a nice reprieve as we get back to a more normal cadence of earning and spending. 

I have been trying to do a better job pre-planning for expenses that I know are coming up and although we might not fully get ahead of them, I’m still able to feel like I’m not always behind. Inflation at least to us feels to not be getting worse and we’re coming to terms with higher prices being here to stay. We still try to be smart with meal planning and grocery shopping and I haven’t been getting as many lattes as I used to! 

Saving/Investing

One of the greatest tools I’ve found to help me save and invest is through leveraging my company’s 401(k) and ESPP (employee stock purchase program) plans. I tell them how much to withhold from my paycheck and they do it before my paycheck comes to me. It’s like I never see the money and so I don’t miss it! That is how I’m able to save 30% of my income really without thinking about it!

The other tool I’ve been leveraging is an after-tax 401(k) contribution. The IRS actually allows you to (if you have access to these tools) save up to $66,000 per year, vs. the $23,000 with just a 401(k). I’ll come nowhere close to saving an extra $43,000 but I figure even if I can do $1,000 that’ll help in the long run!

My favorite index fund – the Vanguard Total Stock Market Index is where I continue to keep most of my investment money and it continues to do well! At the time of writing this it’s up 6.7% year to date. 

Finally and please yes roll your eyes at me but I’m pumped to see the price of Bitcoin back up! I’ve bought a little (like <$100) here and there!

Giving

Mrs. Money and I continue to donate a portion of our money to various charities and our local church. We’ve been blessed and feel blessed that we can give back to our community for causes that are important to us! 

One thing we’re are thinking more about is a DAF – a donor advised fund. Apparently it can be a tax savvy way to continue donating to charities. I plan to bring this up with our CPA when we meet here in a few weeks to get his thoughts!

Overall

Some bigger events happening in our lives right now – me going back to work and all the adjustments there, and finalizing our taxes – which is hopefully better this year having a CPA that I didn’t wait until the last minute to find. I’m grateful for the progress we’ve made, the plan we have to continue that progress and the balance we’ve struck in life that gives us time to enjoy it! 

Blog 

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Thanks as always to our readers – whether you’ve been with us for most of this 11 year journey or are brand new – I’m grateful to have you!