I finally received my payout from work, they owed me a little less than 2 months pay, but the taxes were higher than usual due to paying me in a lump sum, so the take home covers a bit more than a month's worth of take home pay for me. Since we use YNAB and budget a month ahead, I put the usual take home amount in for August's budget and put the rest into September's budget. (July was funded already with June's deposits). So August is fully funded at our usual amount. September will be the first month that our budget will be funded at a lower amount.
August is always ridiculously expensive for us with sports fees for the kids, scout registration and new uniforms, school fees, new school clothes, school supplies etc etc. I worked really hard this summer to spread out the spending. I have been buying school clothes for the kids one kid at a time whenever I get a 30% off coupon or whenever I have Kohl's cash. I have a bunch of Kohl's cash to spend today and I only have one kid left to buy for. I paid for travel soccer in July and also paid for running camp (For cross country) in July. In August I still need to pay for: one soccer uniform, cross country "mandatory donation", scout fees times two, new scout uniforms times two, and racing fees for one. School supplies do seem to settle down a bit as the kids are getting older. I will buy those during tax free week. I brought home a TON of things from work like 3 ring binders etc that I had purchased with my own money over the years, so I will shop from that stash first. I'm still concerned that I don't have enough in that sinking fund but it is what it is.
We spent almost $1000 in medical in July (mostly dental visits for the kids), so I had to build that sinking fund back up as well. We do get partial reimbursements but dh's ex generally takes like 4 months to pay for anything, and in the meantime the sinking funds needs to be refilled for the next thing.
We close on the house we are selling next Monday. It's served us well. I lived in it for 2 years and rented it out for 5 more. Now, we will get a huge lump of cash out of it (I put a lot of money down).
Our plan for the money:
1. A big chunk into 529's for each kid.
2. Finally finishing the laundry room, about $2k for this. Cabinets are ordered and are the bulk of the cost. Then it just needs paint, baseboard (which we already have) and a few odds and ends. We are keeping the current washer and dryer. May replace the chest freezer with a larger upright model if we can find a good one on craigslist.
3. Buying an outbuilding for storing stuff for the business, not sure how much but it's looking like $3k.
4. paying off our 2nd mortgage on our primary home. YAY! Our main mortgage will be down to "only" about $190k, which we will snowball.
5. invest the rest in down payment for another rental house to be found and purchased this fall.
Meanwhile we are closing on a rental home next Friday as well and hope to have renters in it by September 1 or earlier. It only needs paint.
It remains to be seen how much we can take from the rental business monthly to replace my income. To maintain our current standard of living minus Roths we would need $1300 per month from the rental business. We already take $300 a month from it so that's another $1000. (I did make more than $1000 per month but this is taking into account lower taxes, lower tithe and no roths).
We can't take another $1000 yet, so sacrifices and choices will have to be made. We saved up all the Roth money all year so we have about $7300 just sitting in the Roth category that could be pulled from if needed but we don't want to. We are going to try to make it through December and if we haven't needed it at all, we will just send it all to Roths. But it's nice to know it's there if needed.
I have no idea how this will all shake out. But we have health insurance, we have a house to live in, we can buy food. It will all work out somehow.