I’m back! Life Updates

~Progress, not perfection

Hello! It has been almost two years since my last post!!! 😁 What’s been going on?!?  How are we doing financially? Did we move? What are our new goals? Let’s catch up!

My husband and I are in our mid 30’s and I use this as my safe place to keep myself motivated and on track. Since my last post we have moved back into town. We chose not to move to another metropolitan area as we didn’t feel like the job markets are as good as were we live and the move didn’t feel “right”. We purchased a home with a 20 year mortgage and that is our only debt.

The things that are going well:

A) One year of expenses saved in our emergency fund

B) Contributing 12% to 401k (both myself and hubby)

C) 20 year mortgage $178,149 remaining at 4.125%- starting mortgage $192,500 (Sept 2018)

Things that have changed:

A) Hubby recently (this month) decided to transition his side hustle to a full time job.   In addition he has started a new part time job that provides benefits (health insurance, 401k, etc) so we won’t have the added expense of adding him to my benefit plans. Benefits start after 6 months so we will be holding off on contributing to his retirement until then.

B) We will be living on less income. End of story. Just kidding, it’s true but we will make it work! 🙂

I will create a separate post on updated goals as with life this is a work in progress  and if I don’t submit this post I’m afraid I might change my mind in posting since it has been such a long time!

Thanks for reading this if you did 🙂 The goal post will be up soon!

~Rachel

 

 

 

 

 

 

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Goals!!! And other financial updates…

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Trust the wait. 

Embrace the uncertainty. 

Enjoy the beauty of becoming. 

When nothing is certain, anything is possible.

~Unknown

Yep, I skipped June’s update but I’m back to keep myself held accountable. June ended up being a month where I wasn’t so rigid on the budget & it showed. Since paying off our vehicle loan in March 2017 & increasing our 401k contributions to 12% I felt a little lost. Not gonna lie we enjoyed the money we spent in June. We went on a day trip up north & went out to a nice restaurant for my husband’s birthday along w/another meal just because. It was enjoyable & eating out is something we don’t do all that often so it felt special.

However, it feels like we’re in a financial slump. We haven’t fallen behind but in June we weren’t really getting ahead much either. We loosely stayed within budget but had only $200 to add to savings (A normal month would be more like $700-900). The lesson learned is that we always need goals to make progress in life, no matter how small.

The hard part that both my husband & I struggle with is if we should move, where & when. We currently live in a spacious updated 1903 two-story home that we both love. We like the community that we live in but the one downside is the commute. I drive 60 miles a day (35 mins each way excluding winter) & husband’s commute is a little less (25 mins each way). We live in North Dakota where the winters can be treacherous driving (land is very flat so blizzard like conditions are not uncommon). We would rather not move closer to town because we would lose the serenity of why we live where we live, if that makes sense. So our plan would be to move to another metropolitan (medium size Upper Midwest city) which would require us to start over in a new city. We are both excited & beyond scared to make the leap. Which leads me back to needing goals to make progress in life. I’ve had my heart set on paying off our mortgage by 40 (we are 34 & 33) but if we don’t intend to stay in our home long term should we continue to aggressively pay it down? Or is there another place to put it? Our background: we are debt free (excluding our mortgage) with 6+ months of an emergency fund saved. If we continued to stay in our home we have a desire to purchase land where we would build a bare bones cabin for summer camping. I need to state that we both feel blessed to have this problem-to not know what to do with our additional discretionary money. We’ve worked extremely hard in the past ten years purchasing our first home & renovating it, getting married, traveling & paying off 70k of student loans. This was no easy task but we are grateful for our health & the opportunities that allowed us to work hard to get where we are today.

What advice would you give? We’d love any insight that you may have 😊

~Rachel