Archives For January 2015

Where We Stand With Our Debt

January 20, 2015 — 1 Comment

It’s been a while since I’ve talked money, but a reader asked how we were doing with our debt after I initially paid off my $50,000 in debt almost seven years ago (before my wife and I got married).

Here’s the quick answer on where we stand – we don’t have any short term debt. I drive my wife’s 2003 Toyota 4Runner with 178k miles on it, and she drives the Volvo we bought with cash a few months ago. We pay off our credit cards in full every month, and we even managed to pay for our round the world trip with the money we made off of renovating and selling our house in New Orleans.

We have a mortgage, but we kept well within the 2x income rule, so it’s affordable. We don’t have any immediate plans of paying it off, but we took a 7 year arm mortgage, so we hope to either have it paid off or expect to move by then!

Here’s what I think has helped stay in control of our money:

  • We’re on the same page financially
  • We enjoy experiences more than buying “things”
  • We work hard to spend less than we make
  • We’ve continued to increase our incomes through job changes and promotions
  • We’ve lived off of one income since 2009 (and saved/invested/paid for renovations with the other salary)
  • We’re not afraid to buy and drive used cars
  • We invest a healthy chunk of our incomes

As I mentioned in my post last week, we are working hard to get somewhere with our saving and investing. We may not know exactly what that is yet, but I think we’re getting closer!

What’s Your Point?

January 4, 2015 — Leave a comment

You might have noticed my blogging activity has slowed to a trickle in the last few months and what used to be weekly blogs are lucky to occur even monthly. My time has mostly been taken up by work as I received a promotion and now manage a global team, but it’s also taken up heavily by our new renovation project – which is about 75% complete after six months. We’re finally getting to normalcy in our house as our kitchen is nearly complete, so I plan to get back to blogging.

However, there’s another reason my blogging has slowed: my wife and I are still mentally floating after we returned from our round the world trip last year (ok, actually returned Nov 2013, does that make it two years ago???). We moved to Dallas, bought a house, fully reentered the workforce, and are both quite busy with work, but we’re somehow lost. We’ve gone from a state of near total freedom back to work servitude and our minds won’t let us fully adapt.

I can’t remember the name of the book I read it in, but a line that stuck in my head since was that it’s easier to never give freedom in the first place than to give freedom and then try taking it away. We had freedom and we’ve voluntarily given it away, but for obvious reasons like we couldn’t be nomads forever and we didn’t have an endless amount of money to blow. However, we know the type of lifestyle we prefer, and now the challenge is making it happen.

What’s Your Point?

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