Wednesday, 30 March 2016

The Result of the Numbers

Okay, so yes I made a spreadsheet yesterday and had fun running a few different scenarios. 

I find that spreadsheets are a good planning tool to see just what will happen if you do this, or if you do that. They allow you to explore different options without actually doing them.

Each of my scenarios were based on the assumption of starting them this August (Aug 2016) and ending two years later in August of 2018. 

My goal was to pay off both the truck and trailer loans and have some cash left over afterwards. Below is a chart which shows my various options and what the result was.
  

1) Camping and a Room: This was the idea of renting a campsite at a local campsite during the warmer months and staying in Wanda, yet renting a room during the cold months. If I did this I would have my bills paid off and $2800.00 in my pocket left over.

2) No Camping This Year But Camping and Room Next: This is the same as the above but I continue the Urban Nomad thing this year but rent a room this winter and camp next summer. This would save a bit and I would end up with $4200.00.

3) Cheap Ass Bugger: This is me continuing my Urban Nomad ways and just tough it out without renting either a campsite or a room. Sure I end up with $16,000.00 but I sacrifice any semblance of a life.

4) Camping Year Round: This financially disastrous plan is probably the most desirable, lifestyle wise. This would entail renting a campsite and living in Wanda year round. It is a nice campsite but after two years I would still be $1500.00 short of paying Wanda off and have no savings.

5) Room Year Round: This would mean toss in the towel and rent a room for the next two years, only using Wanda on weekends. This one is nice, lifestyle wise, but not that great financially, after all, I only end up with $3300.00 after two years but I would have a life.

6) Room for Winter: is the option that I most likely would go with, if I were to do any of these plans, what this does is that I just rent a room for the coldest 6 months, and thereby not freeze my butt off in winter, yet still save cash. At the end of two years I would end up with $10,000.00 not bad.

7) Buy a House: Then of course there is the option to just buy a place (not a condo [spit]!) and make it work. Housing prices are low, or as low as they most likely will go, so the time is right to buy. I have a steady job and with any luck things will bounce back. When that happens I will make a profit on the sale of the now worth more property. With a portion of that equity I can pay off Wanda.

The problem with this one, as I have said before, is that I would have to drain my cash reserves to do this. After which I would be pretty much tapped out financially for the next year and a half at least (until Treabilla’s loan is finished). 

The furniture is something that I can buy one piece per payday and furnish the house over time; even I know that. As I have said before, I will carry on my savings plan and see what happens come August. (That is unless the large upwelling of generous people crowdfund my Down Payment before then . . . I won’t hold my breath.)

I thought that I would share this with you just in case anyone else was pondering different cash saving ideas such things. If, for any reason, you would like to look at or use, this planning tool, feel free to download it here

For fun, feel free to comment on which plan you think I should do.

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