If you are currently renting, and you want to know if you could really afford to buy a house, one thing you can do is “play house”. In other words, pretend you already bought one and see if you can manage financially.
All you need to do is set up a separate savings account and consider it your “house account”. Every time you get paid, put money into this house account just as if you were paying for a mortgage. Be sure to also take into account the additional costs of owning a home such as property taxes, utilities, etc.
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“The most important things in life are NOT things.”
In the past, I allowed myself to become really attached to my things. Whenever I would try to organize my bookshelf or closet I would find it really hard to part with anything, even if I never used it or even looked at it. The interesting part, though, is that any items that I ended up giving away, I never ended up missing at all! Who would have thought!
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by Pam on November 11, 2010
Every once in a while I go through my drawers and my closet and remove items of clothing that I either never wear or am highly unlikely to ever wear again. Sometimes I find it hard to part with my things, even though I know I never use them, however, I find that “decluttering” is a great way to make better use of my closet and drawer space, as well as a neat way to help others in need. And yes, I just made up my own word. I think the English language needs a word like “decluttering”.
Once I have rounded up all the items of clothing, and possibly some shoes, etc. I drop them off at a local thrift store. Someone else might as well make use of them. This also goes for other miscellaneous items around our house. About every six months or so we get the urge to do some “Spring cleaning”, and you would be surprised at how many things we discover we have that were hidden away and never used.
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Although it may be tempting to buy nice expensive furniture when you first set out on your own, this may not be the best idea. New furniture can be very costly, and you need to consider how long you are actually planning on living in that place, not to mention that town or city. The more new stuff you buy, the more it will tie you down. Owning a lot of “stuff” tends to complicate life more than you might expect.
A friend of ours, who has done a lot of travelling and working around different parts of the world, shared with us recently how she regretted her decision to buy brand new leather couches. Due to her frequent moves, she has been burdened with having to move her furniture along with her. She knows that if she were to try to sell it, she would never recover her costs, but the moving costs have amounted to almost half of what she has paid for the furniture to begin with.
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Have you ever went through your closet or storage room and discovered all kinds of things that you never use, but are still reluctant to part with them? I know I have experienced this recently. My husband and I were doing some Spring cleaning – room by room we went through our stuff with the intent of getting rid of clutter.
While doing this I discovered that I attach memories to stuff, and even if the item is completely useless and will just remain on the shelf collecting dust, for some reason it feels like I would be violating some kind of fundamental law by getting rid of it. My husband, on the other hand, doesn’t seem to allow himself to become attached to things at all, which makes it really easy for him to get rid of any unnecessary items.
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by Pam on February 17, 2010
Renting can sometimes be more appealing than owning a home. For the first two years of our marriage, my husband and I lived in a tiny apartment. All we had to pay for was the electricity; everything else was included in the rent. The only downer was that we felt like we were throwing away more than $7000 a year with nothing to show for it.
We decided to purchase a home in order to build equity as well as to have a place of our own with a small backyard. We soon discovered that our expenses shot way up due to water bills, heating bills, maintenance, insurance, and property taxes. Although our expenses increased, we at least had the sense of satisfaction in knowing that we were no longer “throwing away” our money to rent payments. We also had a lot more space to enjoy.
Although home ownership has been a positive experience for us so far, it doesn’t mean it’s the best option for everyone at every life stage. We definitely couldn’t have afforded to own a home when we were first married, so renting was a sensible option for us. There definitely is a time and a place for both renting and owning a home.
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by Pam on November 23, 2009
Here we go again. Winter will soon be here along with its snow storms and freezing cold weather. If you’re like me, you’re probably not looking forward to the increased heating costs. Below are some suggestions of ways to reduce your heating costs this winter. Stay warm!
1. Replace your furnace filter every couple of months to ensure your furnace is running efficiently.
2. Have your furnace cleaned every 2 to 3 years to maximize its efficiency.
3. Insulate your water heater with a water heater jacket.
4. Turn down the water heater temperature to approximately 50 degrees to conserve energy and save money.
5. Limit the use of bathroom and kitchen fans as they blow the warm air out of your home.
6. Check for drafts around your windows and doors. Use caulking or weather stripping to seal any openings.
7. Insulate your windows with window plastic.
8. Keep your blinds open during the day to let the sunshine warm the house. Once the sun goes down, close the blinds to further insulate your windows.
9. Before cranking up the heat, make sure you are wearing warm socks, slippers, and sweaters. Don’t be afraid to walk around wrapped in a fleece blanket either. Fleece blankets are a lot cheaper than your heating bill is ever going to be.
10. Make use of a programmable thermostat. Set it so that the temperature is lower when you are away from home as well as during the night.
11. To learn about more than 100 ways to save on your energy bill, check out this link.
