Welcome to my blog!
I have been wanting to start this for quite some time, but never did. I finally bit the bullet and here I am, my very first blog post.
The purpose of this blog is to create an outlet for our personal finance journey (my husband and I). I want a space where I can freely talk about our financial situation, have a place to document our journey, and open up about our future goals because let’s be honest here, not everyone is comfortable talking about this subject. I like the thought of creating a support group for other like minded individuals. I also simply need a place to brain dump my thoughts, worries, ideas, and interests. Do you mind listening? I truly hope so.
Here is a little background about me:
My name is Ann, I am a millennial, and happily married to my husband of 7 years. I have worked in the retirement plan industry for 10 years and my husband is a financial advisor. You would think that since we both work in finance, we would have our financial stuff together right? Keep reading.
We started our financial journey about two years ago when we came across a man named Dave Ramsey. I credit this man to helping us pay off $60,861.00 of debt in less than two years. During this time we paid cash for two cars and lived semi-frugally. Our minimum payments on just the debt was $1,752.00. Goodness, that makes me sick to even just type it out. We officially became debt free in May 2020 and quickly saved a $20,000 six month emergency fund by August 2020. My husband works on commission so his income fluctuates every month, but thankfully he had high earnings this summer so we were able to save our EF rather quickly.
Right now we are in the process of saving for a large downpayment on a house, at least 20% to avoid PMI (private mortgage insurance). We are currently renters and want to own our own home as soon as possible. This is mainly due to the fact that rent keeps going up every year and that irritates me.
We are stuck between wanting to buy a house locally where the average home price is well over $500,000 or move to somewhere where housing prices are not as high. This choice is difficult because our entire family lives here, our friends live here, our church is here, and we both grew up here. Is it worth leaving your entire life behind if it puts you in a better financial situation for the future? My heart and brain have been at war for the past few weeks and we still have not come to a decision. Thankfully, our lease isn’t up for another 8 months so we have some time, but I am the type of person that likes to plan ahead. I want to know our plan for the next one year, five years, and ten years. Are you this way too? *High five* for us type A control freaks!
I have so much more to say, but I will save those for the next posts. I will be sharing any frugal finds, investing tips, saving information, retirement strategies, side hustles, our personal income reports, and anything FIRE related. Thanks for stopping by and come back soon.