So today I thought I would take a bit of time out on all the PF posting to give people an update on some happenings in my life – most notably that my wife and I are buying a new house.
Today my wife and I got the contract on a block of land where we are planning on building a new house. We are both pretty excited, but I am also very aware that I am about to enter into some serious debt again. This presents us with a number of challenges, particularly as we are now a single income family with a child to support. But it also means that I will be able to put myself back into the frugal mindset, which if i’m going to be honest with you all – has slipped over the last year or so.
It’s funny, as soon as you have your finances under control, spending becomes less of an issue and you can become really lax in your efforts. Even running this PF blog hasn’t really stemmed the tide of money waste, despite writing about saving so regularly.
The new house should be good for my family though. It means that we can live the way that we want to live, and also do things the way we wanted to do in our current house, but couldn’t afford to.
It also means that I will be righting the ship (so to speak) as I want to seriously track my debt pay down like I used to. This will mean that my wife and I will get right back into budget mode and start doing the things that we know how to do, but have become lazy with.
The next big question for us is whether or not we keep our existing house as an investment property, or if we sell it to reduce our overall debt burden. At this stage we are thinking about selling it, just so that we aren’t stressing about money, but the decision still isn’t final. I’ve always wanted an investment property, however it just might not be the right time considering our family needs right now. That isn’t to say that we won’t have one in the future. A lot really depends on how well the online business ventures go as well as how quickly my wife returns to work.
So that’s all my news and events – Have you been up to anything interesting lately?