We Answered a Questionnaire!

I read various articles and blog posts throughout the week to pass time and get inspiration for our blog. Recently when I was reading a post on Making Sense of Cents, I came across this questionnaire that I thought would be fun to fill out.

Do you avoid a lot of the expenses that many of your peers spend money on, such as technology and meals out?

Maia – As a couple, I would say Jake and I eat out more than we should. Since we don’t live together, I don’t have a lot of food at his house so we usually end up ordering takeout at least 2 weekends a month. The one good thing about this is I can usually get 3 meals out of what I order so it’s worth it to me. Once we are married, I want to work on decreasing our restaurant budget and eat in more.

Jake – I think we save tons of money versus our peers on one particular thing: alcohol. Simply because neither of us really drink! Whenever we go out to eat with our friends their bill is almost double ours simply because they got a couple beers and we had water. But when it comes to technology I’m probably on par with my peers. Although, I like to spend money on things that can save money in the long run like The Nest!

What’s your typical meal?

Maia – Some type of stew that contains meat and a lot of vegetables.

Jake – Imagine what the typical 8-year-old eats. Yeah, I basically have the same diet: chicken fingers, mac & cheese, cereal, hamburgers, etc. Oh, and I love breakfast food!

What about clothes?

Maia – I only buy clothes when I really need something and try to go to thrift stores first to see if I can find it. Other than that, I’m very content with my current wardrobe.

Jake – My clothes have typically been gifted to me for my birthday or Christmas. I rarely will by something unless I actually need it. I can probably count the number of clothing items I’ve bought for myself on two hands.

What about going on dates?

Maia – We typically eat out at a nicer restaurant and/or go to the movies using the gift cards we got for Christmas. We’re much more homebodies and prefer to stay in than go out, especially during the winter.

Jake – I would say our dates are usually really cheap! The most expensive are when we get dinner and a movie.

Do you indulge in any luxuries?

Maia – I like to splurge on personal care products such as skincare or make up. I also highlight my hair every couple of months.

Jake – I don’t have many interests but the things I am interested in I like to buy the best things for them! My computer is expensive and powerful. My guitars are expensive and beautiful. I’ve got great snowboarding gear. My rock climbing shoes are excellent. I’ve spent way too much money on aesthetics and performance upgrades on my car. These things are probably the bane of my finances, but that’s why budgeting is amazing. It makes it possible for me to afford all of those things!

Do you have health insurance?

Maia – My company provides my health insurance with a high deductible HSA plan.

Jake – I also have a high deductible plan with an HSA (Health Savings Account) through my employer. I can set aside money pre-tax to fill that HSA. When I need to pay medical bills, I can use that account to cover the large deductible.

Do you have any savings for emergencies?

Maia – Currently my savings and emergency fund are in the same account and it’s not as much as it should be. Once we’re married, I would like to create an account with funds just for emergencies should one of us lose our job or get sick/injured.

Jake – I have a savings account labeled as my emergency fund. I’ve got enough money saved in there to cover 6 months of expenses in case I lose my job or to pay for any unpredictable events. I also keep a safe amount in my checking account in case I have an emergency that requires money immediately. A savings account may take a couple of business days to transfer your money.

Do you anticipate or look forward to having a higher salary one day?

Maia – I definitely do. I don’t want to increase our standard of living but instead want to pay down my debt and save more.

Jake – A higher salary would definitely be nice hopefully allowing me to be more generous with my money. I do expect to get annual raises each year but don’t expect too much. I am already fairly content with making $47,500. The current task is to change how I make that money! The goal is to figure out this blogging thing so I can eventually subsidize that income with it.

What about retirement–do you plan on ever saving enough to retire?

Maia – I have a 401K through work and a ROTH IRA so yes, definitely saving for retirement. I want to be able to retire in my 50s – not that I will, but I want the option.

Jake – I have a Roth IRA that I contribute to each year as well as a 401k with my company. They will match a certain percentage of my contributions to that as well. This is money that I put away and don’t touch so that it can grow upon itself.

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