Since our income will take a huge plunge in a little over two months with my retirement, my husband and I spent hours going over our budget. We felt we’d be okay, financially, as we will have all our debts paid off, except the mortgage, but it is always better to sit down and look at actual figures, particularly our tax withholding. We sure don’t want a nasty surprise at the end of the year.
And so, we fiddled, plotted, and planned for hours, crunching numbers around every possible scenario we could envision. With the debts paid off, and no work expenses, we’ll actually have more money left after bills than we do now (no surprise there, but good to see the actual numbers verify that).