Entry date: November 22, 2018.
I am currently not investing any money into my index funds. Instead, discretionary income is going into a 'Home Repairs & Renovations' savings fund to address years of deferred maintenance and some much needed updates. I've done a LOT on my own, but now it's time to call in the professionals for kitchen, flooring and bathroom updates. Some of the quotes I've gotten have been insane! Guess I went into the wrong line of business. Frankly, I hate to spend money on this and I think about selling often. But then it's like: Where will you go? DC metro area has such a high COL that at this point, it's hard to imagine how to lower costs without moving into a 1-bedroom apartment in the outer suburbs (which would make my commute more of a nightmare than it already is). I have been pleased that I was able to fix a number of things I thought I would have to replace and am getting handier and handier by the week! That actually feels really good. I'm on a *RE-USE, REPAIR, REFURBISH, RESTORE, & RECYCLE* kick. Amazing what a coat of paint, sandpaper and a de-ruster can do!
I am also aggressively paying off credit card debt (@ $500 per bi-weekly pay period) and look forward to having only *1* debt (the dreaded mortgage) by the end of 2018. I know I can further reduce costs by taking in a roommate or two, and that may well happen in 2019 when I am done with the home repairs/remodeling. I'd see putting that income on the mortgage and re-directing my other discretionary income back into the index funds. Again with the two-pronged approach. Don't want to be debt free with no assets, nor gaining assets but always having that liability hanging over my head. My challenge now is to stay intense and committed to FI. Complacency could easily come knocking at my door, especially when I get down to having only one debt.
Quote of the month: "Don't ask if it's going to be easy, ask if it's going to be worth it." - Michael Josephson. |