New Year, New Adventure
December 21, 2008
The New Year is my favorite time of year. I love fresh starts, as you might guess, since I identify with gypsies. For every twelve-month period I get to start over 2 times. New Year’s and again on my birthday in the summer. And let me tell you, I revel in planning and making lists. I go through my finances, spiritual life, career goals, all of it.
For two years we’ve been getting the finances in order to where I can come home and focus on my writing career. In 2008 we paid off all our debt except for the house. Our mortgage is pretty reasonable considering we bought it 3 ½ years ago- the banks would have easily loaned us another $100,000 – and we could have taken it if we’d lost our minds. But because we restrained ourselves the mortgage amounts to less than a quarter of our combined take-home. The joy that comes from that is many-fold. Namely, in 2009 or 2010 I will be able to quit working full-time to pursue the dream I’ve spent years working on.
I know I’m a rather money-centric gypsypoetfool but since I share my life with another, it caused me to learn about some of these things because my DP is not a gypsypoetfool. When I was single I didn’t care a bit about money so long as I had a roof over my head with one good window and a kitchen to cook in. My DP requires a little more luxury than I do but she’s worth the extra effort.
2009 we are going to make it our goal to live on one income and use the balance to do 3 things:
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Pay extra each month on the mortgage;
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Save the balance in a savings account;
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Put any of her OT and bonuses into an account to replace her car at some point in the future.
As I launch my writing business it will be an easier transition for our household. We’ll be used to living on one primary paycheck and the savings account will be well padded for emergencies. The goal is to be earning income from writing prior to quitting my own full-time job. Those funds will either go into savings or be funneled back into the business for classes, paper, postage, business expenses, traveling, etc.
