SINKS who can’t wait to be DINKS again
I feel stuck in a financial rut. I’m not going forward, but I’m not sliding backward either. This whole SINKS living situation (single income no kids) thing has really hindered my ability to save any money outside of my $600/month to RRSP and TFSA ($300 on auto-debit every pay day). Even with the extra side income from my design business or this blog, I’m still not really getting anywhere fast.
And I mean, I knew that it would happen. When you drop down to one income, that’s just how it works. But I’ve never been in this position before; where I’m not going anywhere. I’ve always been going straight downhill into debt, or going straight up getting out of debt and saving money like crazy.
I know it won’t last forever. BF is getting odd jobs here and there to help with the bills, and he will be working full-time by the spring. It’s not like it’s a 4-year degree program. When it’s all said and done, because he has so many of the pre-requisites, he will have been in school for less than a year. And it will be SO worth it. He will be almost doubling the income he was making before school, and he has good earning potential going forward. Plus, most importantly, he will be so much happier. He hated his old job and now he’ll have a real career that he loves and is proud of.
My PT job starts mid-September and I am grateful for the boost in income. I’ll be able to save all of that money and start saving more than the usual $600/month that I am right now. In fact, including my RRSP/TFSA savings, I’ll probably be able to tuck away $1200-1500/month. Which is pretty good. But you can bet BF and I are both looking forward to being DINKS again (dual income no kids). :)
25 Responses to “SINKS who can’t wait to be DINKS again”
Author comments are in a darker gray color for you to easily identify the posts in the comments
Leave a Reply
As seen in…
Recent Comments
Categories
- annual goals (23)
- banking (26)
- blog (190)
- budget (96)
- car (41)
- contest (26)
- credit card (19)
- credit score (10)
- debt (27)
- design business (37)
- down payment (28)
- education (14)
- EI (16)
- emergency fund (18)
- entertainment (194)
- fitness (165)
- guest post (19)
- health care (56)
- housing (56)
- investing (43)
- job (297)
- making money (55)
- miscellaneous (306)
- monthly challenge (52)
- monthly goals (112)
- motivation (34)
- property (43)
- recipes and food (27)
- relationship (117)
- retirement (30)
- saving money (174)
- scooter (24)
- spending (446)
- sponsored post (9)
- tax refund (22)
- travel (300)
- vlog (2)
- weekly spending recap (78)
But you are saving! And $600/month into retirement is more than I save every month as a single person with no bf! You are still doing a good job because you aren’t accumulating debt and able to still save on 1 income. Besides, we all get in stagnant places sometimes. :) Just realize you’ll be really lucky soon as a DINK!!
I was going to say this as well — even at your reduced saving rate, you are saving a lot more than other people can or do. You've come such a long way what with paying off your debts!
No shame in wanting to go back to DINKdom though.
Agree with the above posters. Your in a temporary situation. Your certainly socking more away then I am able too. Keep up the good work!
My recent post
But you are saving! And $600/month into retirement is more than I save every month as a single person with no bf! You are still doing a good job because you aren’t accumulating debt and able to still save on 1 income. Besides, we all get in stagnant places sometimes. :) Just realize you’ll be really lucky soon as a DINK!!
I was going to say this as well — even at your reduced saving rate, you are saving a lot more than other people can or do. You've come such a long way what with paying off your debts!
No shame in wanting to go back to DINKdom though.
Agree with the above posters. Your in a temporary situation. Your certainly socking more away then I am able too. Keep up the good work!
My recent post
All of the above, give yourself a big pat on the back !!!
My recent post Day 23 No Spend August – Recipe Book Cull
All of the above, give yourself a big pat on the back !!!
My recent post Day 23 No Spend August – Recipe Book Cull
I agree with everyone else. Even without the extra income you are still doing well in your temporary situation.
My recent post Bits and Pieces 8-23-10
I agree with everyone else. Even without the extra income you are still doing well in your temporary situation.
My recent post Bits and Pieces 8-23-10
I bet next year or whenever you become DINKS again, you two will be able to save like $3000 a month together, or some crazy number like that!
My recent post Keeping Up with the Cost of Living
I bet next year or whenever you become DINKS again, you two will be able to save like $3000 a month together, or some crazy number like that!
My recent post Keeping Up with the Cost of Living
Trust me, I SO know how you feel.
It seems like forever since T last made an income!
Agreed with the others – you are still saving tons! I save a little less than you, but only abou $150 goes into retirement – the rest is, I guess, EF money (although I don’t really like that term.)
Here’s to becoming DINKS again!
Trust me, I SO know how you feel.
It seems like forever since T last made an income!
Agreed with the others – you are still saving tons! I save a little less than you, but only abou $150 goes into retirement – the rest is, I guess, EF money (although I don’t really like that term.)
Here’s to becoming DINKS again!
You are doing good. Keep it up. I am in SIMKS (Single income multiple kids) and 10 years later I am getting the upper hand. For a while, I had to stop my RRSP contribution. Career growth will balance it over time unless you increase your spending at the same rate your income goes up.
My recent post August 2010 Passive Income Update
You are doing good. Keep it up. I am in SIMKS (Single income multiple kids) and 10 years later I am getting the upper hand. For a while, I had to stop my RRSP contribution. Career growth will balance it over time unless you increase your spending at the same rate your income goes up.
My recent post August 2010 Passive Income Update
Yeah, agree! If you calculate it, you're saving about 15% pretax which is pretty good considering most people's savings rate is like -0.3% =) So don't be too hard on yourself!
My recent post AC or Windows Down Which One Is Better for Fuel Economy
Yeah, agree! If you calculate it, you're saving about 15% pretax which is pretty good considering most people's savings rate is like -0.3% =) So don't be too hard on yourself!
My recent post AC or Windows Down Which One Is Better for Fuel Economy
I agree with everyone else, you're in a good situation, just remember at least you're not battling SINK with multiple debts!
My recent post First Budget
I agree with everyone else, you're in a good situation, just remember at least you're not battling SINK with multiple debts!
My recent post First Budget
[...] can’t wait to become a DINK household again – trust me, I know what it’s like. Every word in that post could have come from [...]
At least you are saving. I mean, it is tough and you do get so depressed about how little you save… but you are -saving- and not spending :)
My recent post Radio Fodder for Thought- Finding a job in this economy
At least you are saving. I mean, it is tough and you do get so depressed about how little you save… but you are -saving- and not spending :)
My recent post Radio Fodder for Thought- Finding a job in this economy
Keep saving!
It is tough out there and jobs are hard to come by.
My recent post Rona- Save 75 on 5 in Flooring Saw Ends August 31
Keep saving!
It is tough out there and jobs are hard to come by.
My recent post Rona- Save 75 on 5 in Flooring Saw Ends August 31