After my wife and I had our second child this year, we became really anxious about our finances.
We were never concerned about money during the pregnancy, but as soon as that baby was brought into the world, sheer panic spread between the two of us.
My wife was granted 3 months of paid maternity leave, and I was able to take one full month. Even though we were getting paid during that time, we still stressed over our new financial situation. In an attempt to make ourselves feel better, we sat down for coffee and tried to rework our expenses. We started by eliminating any ongoing prescriptions to magazines and music companies. The next expense we cut was our trash service. Instead of paying the garbage company to pick up our trash once a week, we decided that we would take our trash to the landfill for free. The last expense we cut was our HVAC maintenance. Although it only set us back $75 per month, it would free up $900 per year! We were excited about the extra money we’d have to spend on our second baby now. It seemed like a great idea at the time, but now we’re really regretting it. We had the best intentions of replacing our own air filters and keeping an eye on the HVAC equipment, but we really failed. We forgot about our HVAC system entirely, until we started hearing odd noises and our furnace started running less efficiently. Now, we have to pay an HVAC technician to come service the equipment, replace everything that’s broken, and we might need to replace the furnace entirely. These expenses will be way over the $900 we were trying to save.