I sold my house on Friday. I still can’t believe that I actually did it. The house is gone. No more planning my weekend around getting over there to mow the grass. Planning my budget around mulching a house I don’t even live in. No more worrying about something breaking, or being damaged, or what’s happening to the house while I’m not there. I am done!
Not only is selling the house a huge relief, it somehow feels like closing a chapter in my life. I’ve made a decision that is bettering my future, financially, emotionally, and physically. I can let go of all of the mistakes of the past, and concentrate on what I’m doing for the future. I can’t go back and change anything. But at least from here on out, I can concentrate my efforts on the present and the future.
Selling the house is going to have a huge impact on my financial picture. Sure, I didn’t walk away with a ton of money: $2,262 from the actual sell of the house. But I don’t have a mortgage payment anymore ($400/month). Or utilities ($100-200/month). I don’t have to worry about maintenance, or repairs, or upgrades. I’ll have an extra $130 each week that I can throw towards paying off my car loan. That’s going to make a huge impact on becoming debt free!
So, what did I do with the money? In responsible adult fashion, pretty much nothing: I put the $2,262 directly into my emergency fund. In the next few weeks, I’m hoping to bump it up to $5,000. I don’t know, I just feel more comfortable with that number right now. At least until the end of the year; If I’m really close to paying off the car at that point, then I might lower my emergency fund temporarily to get out of debt. But, for now, I’d like to have $5,000 in the bank, just sitting there, in addition to what is in my regular accounts.
What about the $300 from selling the mower and curtains? I’ve decided to set that money aside for the present. I feel a little guilty that my expenses are so low right now, with only paying half the rent and the weekly grocery bill, while Bryan still has a mortgage and other expenses from his house. So, I’m setting aside the $300, plus any money we make at a yard sale we plan to have in the next month or so, towards something we decide we want right now. We have a few ideas of what that might be, but it will depend on how much money we have, and what kind of deals we can find. Nothing extravagant; Possibly a new mattress, or a new recliner. Notice I said want, not need. I’m well aware that we could make do with what we have. I’m not against the occasional want, so long as it is budgeted for, and doesn’t derail the overall financial plan. Yes, that money would make a nice dent in my car loan. But, in the long run, it will put me back less than a month towards final payoff. So long as it doesn’t become an all the time thing, I’m fine with that.
And there you have it: My boring financial plan, that I’m super excited about!
– Cindy W.