Last month (October):
Years left: 1.4166666666666667
P =$1,134.40, I =$80.00, Escrow =$809.48
This month (November):
Years left: 1.333333333
P =$1,138.89, I =$75.51, Escrow =$809.48
One month’s prepayment savings: $0
Our spending in paradise seems to have stabilized. That’s good, because remember how I put a big lump sum into checking based on what I thought we’d be spending over and above our income? Yeah, that’s all gone now. 100% gone. It did not actually last 11.5 months. Spending without guilt worked a bit too well. Whoops!
That’s a little bit misleading– several thousand dollars went to pay for (unexpected) travel that got reimbursed, but to a different account (deposits are going into our Wells Fargo account, not our main credit union account). So we didn’t really overspend our wad quite as badly as it seems.
Still, I was surprised to see that for the month of October we spent a little bit under what we earned. The number in our savings account went up instead of down! It helps that we have a tenant for our regular house now, and it helps that I’m now getting paid again, even if only at half my regular salary. It helps more that we seem to have settled down with the right amount of furniture and our pantry is relatively full. We’ve also figured out grocery stores and are not wasting money at the more expensive stores when there are less expensive groceries that are better.
The holidays will probably be pretty expensive, because they usually are. We’ll have presents to buy and lots of restaurant trips to pay for. But then February and March will probably be pretty cheap, because they usually are.
It’s a bit deceptive– it feels like we could live in paradise forever when we start saving instead of overspending. But that’s only true with job security and high salaries. If I left my job, we would lose job security, and they’re not going to pay me to not teach for more than one year every five years or so. And there’s no guarantee rents won’t increase beyond what we could pay and without job security or a lot more savings, buying a house would be extremely risky. So we’ll be returning home at the end of the year, where we can save and save and save… but never enough to quit and move out here. I suppose that’s a problem with paradises– surrounded by beautiful slender people one feels fat, and surrounded by the wealthy one feels poor.