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Five Years Later

August 23rd, 2011 at 05:32 am

You would think that a person could improve himself financialy over five years, but no. I had forgotten that I had started this blog so long ago and it was a little pathetic to see that nothing has changed in five years.

Well, age has happened . . . five years ago I don;t think i posted much about what it felt to be in my late 40s and I could now post a lot about what it feels like to be in my early 50s.

Desperation brought me back here, and the surprise that I had tried a few times to post about my money situation in the hope of . . . well, I'm not sure what I was hoping for.

Perhaps I can make a difference this time around.

The situation at this point -- my wife and I are still estranged, but still living together. She has her own business -- I work at the same place (thankfully, doing new things every year) that I have worked at for 25 years.

My wife still follows the the Laws of Attraction, though I really can't say it has helped her at all -- any success she has had in her business has come about through her hard work, not through a mystical alignment of forces.

Recently, she has been trying to buy a piece of property, as both a place of business and as a placeto move to. It is, of course, a buyer's market, but she does not have anywhere near enough money to afford a piece of property. Since this is a place of business, she is trying to get investors involved.

In an attempt to make a movement toward owning our current home, we recently re-financed. She had been the only person on the note, because when we re-financed last about 7 years ago, my credit score made it difficult for us to qualify.

This time around, I assumed the mortgage, so she would not have it on her credit history (other than her years of perfect payments). I start payments in a week.

Taking over the mortgage is within my means -- the killer around here is the property taxes. The combined monthly mortgage and property taxes is about $2500 -- the property taxes themselves are $900.

I recently put together a budget based on current income and current fixed expenses. Starting with my gross pay -- taxes, 401(k) contributions and loan paybacks, and insurance premiums amount to 39 percent of my gross biweekly paycheck.

Of the remaining monthly net, mortgage and property taxes account for 52 percent.

Then I added up the other fixed costs, you know, the things that will generate a phone call or a repossession or a cutting off of service if they aren't paid --

When I subtracted all of that, I was left with $568 on a monthly basis for food, gas money, etc.

I haven't mentioned the kids. Two college age, the last entering college next year. I will save that situation for another post.
We have saved nothing for college. WE paid for one year of the eldest

3 Responses to “Five Years Later”

  1. creditcardfree Says:

    Welcome back!

  2. ptc712 Says:

    It's not the most fun place to be, but it's a safe place to vent and maybe learn something, although my five-year break demonstrates I haven't learned much.

  3. Petunia 100 Says:

    If you're willing to provide all of your budget numbers, you may get some helpful feedback.

    It's never too late to learn and improve your situation! Smile

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