• May. 6, 2006
Financial Decisions and Doubt!
DH and I have been talking about finances lately. That's always fun, isn't it? Actually we have been very blessed recently with a small inheritance . We were able to pay off some debt which was very nice.
For the first time in our lives we are sitting down and taking an HONEST look at our finances and trying to plan for the future. We knew we would homeschool before we had children so we always figured we'd be broke! And we have been!! But honestly we've been "broke" more often because of poor financial decisions and not being frugal enough. We have no "Gucci" bags but we buy or spend when we do not need to. I'm also having to babysit and teaching classes at the gym and DH has to work 50 hours a week to break even.
So we have come up with a radical plan. We are going to move out of the home we bought last year and rent it out for 5 years or so. This will make us a little bit monthly but more importantly this housing market is booming and our equity with skyrocket over the next few years while someone else makes our mortgage payment. This will allow us to sell it if we choose in a few years and make a good bit of money on it.
We will move into DH's grandmother's home (who passed away in January) with the blessing of my MIL at no cost for as long as we'd like. It is smaller but not tiny. We will save at least $500 a month doing this and it will allow DH to pursue his dream of teaching which will provide a smaller income than what he is making now.
Financially this seems to be the best thing for us. And yet I lie awake at night and wonder "What in the world are we doing?!?!?!?" This is "Our House"! It was our dream.
But our "dream" came with a lot more pressure than we bargained for. I want to be able to sit down with my children without having to worry about teaching a class at the gym or whether I need to babysit or not. I want to be able to put a little in savings! So we're making a radical decision that will (hopefully) net us a little financial freedom in the future..
But it's still so scary!!!
