Pros and Cons of Paying Off Your Mortgage Early

Pros and Cons of Paying Off Your Mortgage EarlyCurrently, one of our main goals is to save for a down payment for our next house. Due to this, we have been wondering about how much exactly we should save.

With our first house we didn’t put down 20% and had to pay PMI (big mistake), so we will definitely put down at least 20% on our next house.

Also, we are self-employed and I have heard that most self-employed people have to put around 25% to 30% down (and sometimes even 35%!) because banks want to see more upfront from small business owners.

Now, that’s a lot of money!

This has got us thinking. While we are aiming for 30% or more, at what point should we stop saving for our down payment and ramp up our retirement savings instead? Yes, we are still saving for retirement, but should we be saving more?

In the personal finance world, the decision seems to be split. Some are all about paying off a mortgage quickly, whereas others don’t think that’s a good idea. There is no right or wrong answer, which makes the decision a little more difficult. [Read more…]

February’s Food Budget Check In – We Failed But I’m Happy

Our Food Budget Check In

It’s now been a little over two months since we finally created an action plan to lower our food spending.

At the end of December, I published the post Our Plan To Finally Cut Our Food Spending. Below is a snippet from that post:

When I first started blogging back in 2011, we were spending over $1,000 on food each month JUST for the two of us.

Food spending is something that we have always had a problem with. Whether it be spending too much money at restaurants or spending too much money on processed junk food, it’s been a problem.

We are no longer spending over $1,000 a month on food, but it is an area that we still need to work on.

Some have asked why we want to spend less money on food.

I’m not sure what to say except for why wouldn’t we? 

While we both love food, we know that we spend too much money on it and it could be saved for better things. It’s not like we are eating well just because we are spending so much money on food. [Read more…]

Should We Get Rid Of A Car And Just Have One?

Sharing a Car And Becoming a One Car Family

We currently have two cars, but have been seriously thinking about sharing a car and downsizing to just one. I hardly ever drive, and I can count the amount of times I have driven in 2015 on one hand.

Due to this, we have been thinking about selling one of our cars and becoming a one car family.

There are many reasons for why we are thinking about sharing a car, and it’s not just all about money.

Yes, the money is just being wasted on the second car since we most likely do not need it, but it’s also a waste of time and space. I am always trying to save time in my life by eliminating time wasters, so it makes sense that the next thing we are currently evaluating is our car habit.

Below are some of the reasons for why we are and are not thinking about becoming a one car family. Some of the below can probably be adapted to fit your situation as well if you are thinking about sharing a car. [Read more…]

February Goals Update, New March Goals And Colorado Pictures

Move To Fruita Colorado Pictures  2Hello everyone! Time for another life and goals update.

February was another great and crazy month for us. We moved to Colorado, we put our house on the market, and it was a great month for business.

Our new home looks great and it’s already starting to feel like a real home. It is a great feeling knowing that pretty much everything is done and now we can just start enjoying our new state.

Also, as I said earlier, our old house is on the market. We decided to list it for now and see what happens. If it doesn’t sell, then we plan renting it out until our neighborhood rebounds from the tanking that it has experienced lately.

We’ve had two showings so far, so I’m not sure what to think. I realize that it’s only been a little over a week so I guess we will see. Please wish us luck!

[Read more…]

Should You Rent Or Buy? – Why I’m Excited To Rent

Should You Rent Or BuyWe are currently in the process of settling into our new home in Fruita, Colorado. This move came quickly and we are enjoying our new home so far.

Ever since I announced that we are renting our current home, I have received many questions. Some for some reason have given me flack for deciding to rent, whereas others understand why we made this decision.

While we loved owning our last home and there were many positives, owning this time around would be a huge hassle.

I believe there are positives and negatives when trying to decide whether to rent or buy a house, and our reasons for renting this time around clearly outweigh buying.

Below are the many reasons for why I’m excited to rent a home. Hopefully the below will help you decide whether you should rent or buy a house as well if you are stuck in a similar situation. [Read more…]

Our Moving Expenses And Moving Checklist – Colorado Move Update

Moving To Colorado On A Budget & A Moving ChecklistToday, I’m going to talk about our move to Colorado. It kind of popped up out of nowhere but now we are right in the middle of it all. I can’t believe how quickly everything is moving along and I am extremely excited.

Out of all of the moves we’ve done, this one is definitely the largest. We’ve moved a few times now, but they have all been fairly cheap and short distance moves.

However, after collecting, hoarding, and buying things over the last 5 years, we have many more items to move this time around. Even if we were just moving across town it would be difficult with all of our stuff.

Moving to Colorado will be our longest move as well as our most expensive. I’ve heard of people spending over $10,000 moving, and that is something we didn’t want to come anywhere close to.

Below are some updates for our move to Colorado, including our moving expenses and what’s left on our moving checklist. [Read more…]