Monday 4 January 2016

Happy New Year!

So, it is a new year and that means a new chance to do things better this year than I did last year! As I enter this year I am in a much better financial place than I was a year ago. 

My credit cards are paid off and I a maintaining a zero balance on them. I make sure to pay the remaining two cards off to zero each and every payday, so as to not rack up any interest (evil cackle). 

The question that still nags at me is, what now? What do I do now? I have a few options before me and I still have not decided exactly to do and what I should do. Here are a few options bouncing around in my head: 

1) Keep Going

This option says that I keep freezing my butt off in this trailer and get completely debt free as soon as possible. My best estimate is that would be three years out. 

What this means to me is three more winters plus this one, then more after that. This would continue to put a serious dent in my dating life as I would be still living in an RV and parking in parking lots and side streets all this time.

It would mean the path toward absolute freedom though, eventually being able to go where I want, when I want and live really cheaply. 

2) Buy a Condo

This option is to buy a small, two bedroom condo for 2K or under (they are out here) this way I can still get ahead financially and have a bit of financial security. 

This would mean more expenses and yes much longer before debt freedom. If I did this, in all likelihood I wouldn’t be able to consider selling the condo for at least five years. 

The upside is that I would not freeze this winter and have an asset. The downside is much more debt and taking much longer to pay off Wanda.
3) Wait Till The Crash, Then Buy a House

This option says save up my down payment in full (10K) by around say August and then look to buy a place. My gut tells me that the market is going to tank this year. 

What this means for me is that I may be able to squeak into a small, older house with a smidgen of land and a garage/workshop still in commuting distance. 

This is nice but still more debt and further towards debt freedom. Like the last option this will allow me to actually have some sort of a social/romantic life.

4) Rent a Room

This option is a bit of a compromise. This one says to stick it out till October and then get a room for the winter at least. This way I can still save up cash but not freeze my butt off. 

There are still much to consider, but for now I will stuff as much cash as I can aside as I figure out what to do. For no reason whatsoever, here are some choice shots from my Christmas Break in Banff.

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