Well, well, well. It's creeping close to the 2 year anniversary of our life changing decision to sell our home and take on living the renters life in order to pay debt (and move within a reasonable distance to work).
When we made the decision to do this, our intention was to simply get finances (debt) a little more manageable and then buy a new place. I can now say the plan has changed. When we moved into the apartment (shudder) we had an astounding amount of liabilities. $74,211.91 to be exact. No wonder I couldn't sleep at night.
Well, at this point I am happy to report that while we still have debt it is getting much more manageable. We have paid off 43,809.91 in just over 1.5 years. Pretty freaking awesome! At the same time we have increased our assets (retirement savings) and we are very happy to be in a place where our living expenses are declining.
Last year, our child care costs = $2,400/month
This Year = $1,300/month
September 2013 = $700/month
We have been working to pay off our term loan that runs us $950/month (choke, gag, barf) and if all goes well that will be paid in full by the end of August freeing up almost a grand per month!
In addition, I just found out our car insurance has decreased by a whopping $50/month. Why? Who the fuck knows! But I don't care!
At this point, we are hoping that effective September 2013 we will be able to allocate >$1,500 per month to savings so we can finally buy a house again. Although, truth be told....I'm quite content to stay in our current (rented) home. I'm in no rush to move again :)
