Just read your journal, thanks for sharing.
Sounds like you are in a rural setting. I'm in the middle of a city now and miss the things you are describing about the outdoors. Impressive how cold you keep your house at.
I enjoy the template you use for your posts.
You mentioned childcare is coming to an end, are you planning to homeschool?
4622. Matrix. Kaizen. Reckoning. Adaptation. Whistling.
Re: 4622. Matrix. Kaizen. Reckoning. Adaptation. Whistling.
@DutchGirl
Yes, it's a reference to time. It's not required to be linear. If significant progress is made to lower expenses, increase income and live efficiently than I expect this number to go down more quickly than 1:1.
@Laura Ingalls
Truck payment and daycare are huge expenses in our household. The truck is definitely suited to our lifestyle: it hauls wood, 4wd for severe snow conditions, tows the camper etc. I will report on the progress of the loan payoff in future posts.
@Gilberto
-Riding the KTM was very exciting.
-Having the wood stove as a backup soothes any anxiety about a furnace going out. Even in the worst of weather I can burn wood for an entire season to keep the house warm enough to keep the pipes from freezing. More importantly if a severe breakdown occurs the resources are available to shop HVAC replacement prices until I find a low bidder which builds a small amount of resilience into our lifestyle.
@Pilgrim
-I'm not specifically rural but less than a 5 minute drive from 100+ acre farm fields and I do own land in the woods (communal ownership) and I am fortunate to have several friends that have significant property ownership. On any given weekend I can have access to 700+ acres of fields, woods etc. to enjoy time in for no charge except the gas to get there and some beer to pass along.
-Childcare is coming to an end in the next few months and after that the little one's will go to a public school.
Yes, it's a reference to time. It's not required to be linear. If significant progress is made to lower expenses, increase income and live efficiently than I expect this number to go down more quickly than 1:1.
@Laura Ingalls
Truck payment and daycare are huge expenses in our household. The truck is definitely suited to our lifestyle: it hauls wood, 4wd for severe snow conditions, tows the camper etc. I will report on the progress of the loan payoff in future posts.
@Gilberto
-Riding the KTM was very exciting.
-Having the wood stove as a backup soothes any anxiety about a furnace going out. Even in the worst of weather I can burn wood for an entire season to keep the house warm enough to keep the pipes from freezing. More importantly if a severe breakdown occurs the resources are available to shop HVAC replacement prices until I find a low bidder which builds a small amount of resilience into our lifestyle.
@Pilgrim
-I'm not specifically rural but less than a 5 minute drive from 100+ acre farm fields and I do own land in the woods (communal ownership) and I am fortunate to have several friends that have significant property ownership. On any given weekend I can have access to 700+ acres of fields, woods etc. to enjoy time in for no charge except the gas to get there and some beer to pass along.
-Childcare is coming to an end in the next few months and after that the little one's will go to a public school.
Re: 4622. Matrix. Kaizen. Reckoning. Adaptation. Whistling.
This will be a short entry but an update nonetheless.
Matrix: Finished reading Harry Potter 1, 2 & 3. Reading Anti-Tech Revolution.
Kaizen/Reckoning: Refinancing home at end of month to 15 year loan at 2.375%. The payback period for the refinance is 16 months. This is an optimized housing situation. Where our market is appreciating very quickly, the loan rate will be very low and it will be paid off much more quickly. Used stimulus payment and small amount of savings and paid off the vehicle loan. I consider our vehicle situation to be optimized for the time being given our lifestyle choices.
Whistling: Bought a child sized electric dirt bike for <$200. The children are really enjoying it. This will impact our electrical bill but it is not of particular concern given much lower operating costs and initial purchase price than a gas unit.
I have taken a new position with the company I work with. Pay increase was 25%. This along with the vehicle being paid off and only a couple months of daycare left means cash flow will be increasing a lot. Side business income is expected to be 100% higher this year based off current bookings.
I will post some numbers at a later time. They may not reflect low spending as we put some serious cash toward the vehicle and a refinance but these choices will be best for our situation.
Matrix: Finished reading Harry Potter 1, 2 & 3. Reading Anti-Tech Revolution.
Kaizen/Reckoning: Refinancing home at end of month to 15 year loan at 2.375%. The payback period for the refinance is 16 months. This is an optimized housing situation. Where our market is appreciating very quickly, the loan rate will be very low and it will be paid off much more quickly. Used stimulus payment and small amount of savings and paid off the vehicle loan. I consider our vehicle situation to be optimized for the time being given our lifestyle choices.
Whistling: Bought a child sized electric dirt bike for <$200. The children are really enjoying it. This will impact our electrical bill but it is not of particular concern given much lower operating costs and initial purchase price than a gas unit.
I have taken a new position with the company I work with. Pay increase was 25%. This along with the vehicle being paid off and only a couple months of daycare left means cash flow will be increasing a lot. Side business income is expected to be 100% higher this year based off current bookings.
I will post some numbers at a later time. They may not reflect low spending as we put some serious cash toward the vehicle and a refinance but these choices will be best for our situation.
Re: 4622. Matrix. Kaizen. Reckoning. Adaptation. Whistling.
You're making progress, that's nice to see.
I don't see debt payoff as expenses. The actual expense (for the car) was when you spent that money, in my opinion. Now you're just upping your net worth by paying down debt.
For the house, yes, the refinance fee is a true expense right now, but it reduces the interest rate and so it will probably be a good decision (if you indeed will have this mortgage for more than 16 months starting now - which I assume is the plan).
Keep it up and keep it going!
I don't see debt payoff as expenses. The actual expense (for the car) was when you spent that money, in my opinion. Now you're just upping your net worth by paying down debt.
For the house, yes, the refinance fee is a true expense right now, but it reduces the interest rate and so it will probably be a good decision (if you indeed will have this mortgage for more than 16 months starting now - which I assume is the plan).
Keep it up and keep it going!