Tuesday, July 19

 

Our travel home budget is taking a hit!  We are into our 5th wheel for $20,000 and after shopping for trucks have found that we might be spending as much as $40,000 for something almost new and $45-50 K for a base model diesel capable of pulling our home reliably.

I am not liking this for several reasons.  1)  It delays our hitting the road debt free.  2)  I’m not confident that spending this kind of money on depreciating liabilities is the best use of our money long term. I’m going to wrestle with this a bit more and look at the numbers on a spreadsheet and see what i come up with….more to follow

We went to a local truck dealership yesterday to figure out what diesel truck prices looked like.  The short story is that in our area of Florida (possible everywhere) diesel trucks are a hot item.  All the bells and whistles, fancy rims, nav systems …..on and on.  To get a base 2500 diesel 2wheel drive i will need to special order it and the best offer the dealer showed me was $45,000 before tax,title and license.

Our current financial state is such that this is not good news. A bit about our finances:

Our intent is to hit the road with $30,000 cash in savings for emergency funds and to support our rental properties when repairs are needed. This breaks down to $12,000 to cover 6 months of expenses on the road without income and the remaining $18000 in reserve to provide for a roof , AC system and appliances as needed.  Our intent is to lead a stress-free life and I am sure that this reserve will provide a substantial safety net allowing us to sleep better.

Our current rate of savings is $4100 a month.  This is our base JOB income and rental property income.  We hoped to increase this by $500 a month when we put tenants in our current home and transitioned into the RV but renting the house has proven tougher than the last.  There is also the option of increasing my income.  AT this point I’m willing to do whatever it takes to make our escape happen.  Just need to find an opportunity and jump on it.

On the rental front:  I had a great couple lined up as our new tenants.  Applications looked great and I had offered them the place for a two-year lease.  Unfortunately for me and good for them but they found a less expensive property that met their needs.  Now I’m back to screening applicants for our place.

So half of our stuff is sold, we have a fifth wheel but no truck, we are a bit cash poor for now and we are maintaining 2 residences for the time being (one of them has wheels).

The boss gave me some good advice today, she reminded me that the journey we are on is supposed to be a joyous and happy one.  I think i have lost sight of that in the midst of the hustle.  All of my “problems” are first-world in nature.  Life is good and I am thankful for where we are at today!

“A wise man should have money in his head, but not in his heart.”

-Jonathan Swift