Well, I obviously haven’t been writing weekly as I said I would in my last post. Some things have changed, but not a lot. I’m still moving forward. Here’s the latest:
We sold our house and lived in an apartment for a short time. It was cramped, but it was shelter until we could move to a new city. The city we’re in now is less expensive, so our chances of finding an affordable house are good.
We lived with family for a while until we could find a place. We had intentions of buying, but decided it would be wise to rent until we have reduced more debt and until we are sure we’ll be happy here.
We kept the cost of moving down by doing it all ourselves. I’ll write another post on how we did it.
We’re making money
My contract got extended until the end of the year. It was originally set to expire in October, but I got a couple more months added. This has actually been a good experience because I am able to take time off as I need. I still have to notify someone, but I don’t have to ask permission or worry about using up all my “PTO” days.
I’ve also taken on some side projects that is helping bring in more money. Yes, I’m working a few more hours, but this will get the debt taken care of quicker. I’ll work harder now so I can take it easy later.
I think I have it planned to pay of our high monthly payment vehicle by the end of September; 9 months ahead of schedule. This is $320 a month that I can apply to other things. In this case I’m not paying off my lowest debt source first as you would do with the Snowball Method. In this case I’m paying off the highest monthly payment which will allow me to apply more to the lowest debt source.
The reason for this is that the amount to pay this off is not much more than my lowest debt source, so the monthly returns will be greater.
We’ve had some setbacks. Again.
The biggest problem with not having a regular “job” is that you have to pay for your own insurance. Insurance and healthcare in the US is ridiculously expensive. For my family it will cost over $600 monthly. That’s more than my monthly budget I had planned for a house.
Finding a rental house that fit our needs was more difficult than I thought it would be. Everything we were seeing was either too small or too big. Having been cramped in a small apartment, then a smaller area in our family’s house made us decide on a bigger place. It’s more monthly than I wanted to spend, but I think in the long run, it will have been a good choice.
I think that’s it for now. I think one of the biggest things I’ve learned so far is to make a plan, but be ready for changes. When the change happens, don’t get discouraged. Adjust but keep the same goal in mind. You may not reach your goal the way you expect, but you can reach it if you keep going toward it.