Reducing Debt

land rover

It’s a wrap. I posted the Land Rover for sale Wednesday and sold it Thursday. I loved the Rover, it was the best riding vehicle I have ever driven but after 12 years it was time to let her go.

I ran to the bank and put every dollar from the sale toward my car loan, yep I danced in the bank as no car payment in a few months will be liberating.
Why is it we hesitate to get rid of material possessions. I certainly don’t think at this point they mean anything but I guess when you own something it is harder to let go. The piece of mind of eliminating debt is better…GO

Advertisements

Where are all the 50 year olds?

Retirement beach writing

This year I am turning 50 and with this milestone has come a whole lot of self-reflection and a whole lot of questions. I assume that anyone around my age never thought when they were 20 that we would need to consider all these decisions so soon.  I know I didn’t and I always thought I was the ultimate planner, WRONG. Now that I have arrived I guess it’s time to research, get some advice (please feel free to comment), and put together a 5 year plan.

  1. How many more years do I need to work?
    • How many more years do I want to work?
      • Five- I have worked fulltime since I was 14, I’m tired
  1. Can I take money out of my retirement accounts without paying a penalty?
    • I am currently waiting on responses from providers
  2. What do I love and want to pursue for the next 20 years?
    • My three tops things I love in life, Wine anything, Thrift Shopping, and sharing stories
      • Maybe my blog could become an income stream
      • Library and you tube here I come
  1. Should we sell our house and take the equity to pay cash for a pre-built home on a piece of property?
    • Can we find an affordable property that is not in the middle of nowhere?
    • I live in the Pacific Northwest and property prices are currently out of control
      • There is actually a housing crisis with 500 people a day moving to the Portland Oregon area
      • This would indicate that now is NOT the time to buy property (question answered, re-evaluate in a year)
  1. Since my husband is not ready to retire will I be bored out of my mind?
    • I believe that I could find plenty of things to do to keep myself busy
      • I have always wanted to transform pallets and wine barrels into usable furniture (pinterest has plenty of ideas) why not now
      • I love wine crafts, motivational and funny quotes, I could produce products for all my kindred wine friends (I know you’re out there)
  1. How much money do I really need to live?
    • If I can eliminate my few credit cards and pay off the balance on my car in 2 years all that would remain is a house payment
    • Dave Ramsey I hear you talking to me

As I discover new information I will share it with you

photo credit given to davidfranklinstudioworks

Wedding decisions 

Ok I’m old and it has been 26 years since I got married in a 30 dollar dress from Macys. Today I an watching say yes to the dress on tlc and these brides take all their moms, friends, critics, etc. And they are spending thousands on a dress. The friends always have an opinion and don’t like what the bride picks, really?  If you are getting married everyone elses opinion does not matter, pick the dress you love even if you look a hot mess. 

I can tell you from experience the price of the dress has nothing to do with the marriage lasting, clearly by the divorce rate in the US. I love that you want to look beautiful on the big day but that 5 grand could be the down payment on a house or payoff a credit card or car loan making marriage a whole lot easier.

I know way to practical but real people have bills and the struggle for most of us is real. Stop letting your friends dictate your choices as most of them probably wont be around in 10 years anyway, real talk.. 

Get Gazelle Intense

gazelle-leaping

I knew this year was going to bring BIG changes but I had no idea how big they would be. Yesterday my husband and I had a long discussion and determined it was time for him to give notice at his job (doesn’t have another one waiting) so he can focus on truly finding a position that utilizes his many degree’s and skill set. I know you all are saying you’re crazy, yep we are and we are huge fans of Dave Ramsey so if you follow him the next decision should not surprise you.
We also decided to have a realtor come out on Friday and evaluate our house to put on the market. Our kids have been gone for years, they are not moving back to Idaho, so a 4 bedroom, 3 bath house for us two doesn’t make much sense at this point. On the market it goes in August.
We have decided to sell EVERYTHING in the house, couches, beds, tables, rugs, pictures, the whole enchilada and only move our clothes and pots/ pans. We will use this money to eliminate debt.
• Whatever we make we are using to pay off credit cards, student loans, and the last balance on our vehicle.
• I have cancelled my contributions temporarily to my retirement plan, this money also will go to eliminate every single debt that remains. (Dave Ramsey, I’m listening)
• We are getting Gazelle intense and are going to live like no one else.
I can’t say that I am not scared because I am. We have not rented in 25 years so the thought of having to share a wall with someone is interesting at best and we have 2 little dogs so that will make it even more exciting. But the way I see it if you are afraid of change you can never grow. Here’s to a sensational next 3 months…