Planning, questioning, taking a leap

It's the middle of January, and we're saving and planning. Here's the current rundown of what we've nailed down (in short, not much), what we're still trying to decide, and what our hopes are:

*We'd like to purchase a used RV by the end of the summer and head south for the winter. Ideally we'll find an RV that is clean and comfortable, one that has separate bunk space for an independent boy who probably won't want to be around his parents all the time. I don't need or want an RV that is brand new; they depreciate in value too quickly and we don't have the money for that anyway.

Plus, these months of living in our tiny, old, clean, basic rental has shown me that I feel more relaxed when my surroundings have a little wear to them.

*We're going to homeschool our son. I need to look into homeschooling more - and some of the specifics will depend on the state in which we establish residency - but I'm confident we can make it work. He loves to read, loves to explore, and loves to have adventures. Road learning will be good for him.

*We're looking for freelancing work. My husband contracts with a publishing company, and I recently snagged an editing gig. Plus, I have a Beachbody business that is starting to gain some traction. Online teaching is also an option, though right now those jobs seem a bit hard to come by. We're also discussing the possibility of seasonal work; for instance, I think I'd love to work as a park guide in a national park during the summer months.

That's one thing that may be difficult to acclimate to: living without a fixed salary. But I'd rather freelance than be stuck in one spot.

*We need to embrace minimalism and sell our stuff! Our house is rather diminutive and by many standards we don't own all that much, but the thought of moving into an even smaller space makes us realize that we need to offload a whole bunch of home goods: our couch and armchair, a couple of beds, a kitchen table, a water cooler, a desk, a television stand... Ideally we'll be able to sell some of it and make a little extra cash.

*I need to start cleaning out my office. Ugh.

*We're in the process of paying off several credit cards and other debts. More about this in the future, but in order to pay them off, we cashed out a few retirement accounts (and took the tax hit). We need to reduce our monthly expenses as much as possible before we hit the road. Lack of credit card debt will make a huge difference both financially and emotionally.

That said, we're not going to be debt free. We'll have a car loan and our (somewhat crushing) school loans. I suppose most financial advisors would recommend that we pay those off before making our move, but... no. We'll keep paying our monthly bills on time, and eventually they'll be gone, but in the meanwhile I'm not going to let these stupid student loans get in the way of living.

*We've canceled cable as well as several monthly services and subscriptions. That's another ~$100 a month that we've freed up.

*We need to figure out what to do about our phones. My husband and I both have smartphones that we use all the time, but they're expensive. We've toyed with the idea of getting cheap flip phones, but I'm not sure either of us is willing to actually make that change. It really depends on our freelancing jobs: for gigs requiring quick turnaround, I think having at least one smartphone is worth it.

*Luckily, we currently rent our house and can move out with one month's notice. After the stress of selling our home in Nashville, the ability to pick up and leave so quickly and easily feels like a real luxury.

I'm sure I'm forgetting a million little things and of course all of these plans are evolving, but I needed to take a few minutes to move these random thoughts from my brain to paper.

Revolutionary Road (and my first giveaway!)

This summer, I'm reading Revolutionary Road by Richard Yates. Trent and I watched the movie (starring Kate Winslet and Leonardo DiCaprio) a few weeks ago.  Then Trent heard on a Slate podcast that the book is even better, so we checked it out at the library. 

There's something disturbingly familiar (that's how I feel, anyway) about the themes in this book. It's about a young married couple, April and Frank Wheeler, who - despite their once passionate determination to travel and act and live life outside of the norm - somehow find themselves raising two children in suburbia. Frank works in the city, and April stays at home with the kids. They feel out of place in a pretty, perfect-lawn-and-garden world in which everyone else seems comfortable and content. 

The novel is set in the 1950s. To be honest, I thought the author had written it only in the last few years. I was surprised to discover it was first published in the 1960s. The themes seem modern. Some issues span decades, I guess.

Frank and April's story brings up some questions that I think a lot of us ask ourselves, though perhaps we don't share them with the people around us:

Do we choose the nature of our lives for ourselves, or do circumstances and expectation channel us into them?

How many adults, despite appearances, feel uncomfortable with the status quo of their lives? How many adults make an effort to change that?

Is it selfish to try to buck societal norms? 

Is bucking societal norms really that difficult - or is that an illusion? Do we create imaginary barriers in our own minds, ones that prevent us from exploring as far and wide as we're actually capable of doing?

Personally, I think a lot of the things that seem impossible really aren't. We're just entrenched in our current situations and bound by a mountain of debt, stuff, complacency, and/or other people's expectations.  That doesn't mean we can't pull ourself out of the trench or overcome the mountain; it'll just require some work. For instance, the idea of buying a boat, living on it, and seeing part of the world that way seems kind of far-fetched from where I'm sitting right now, but really, what will it take? Money (definitely a big obstacle, but not an insurmountable one if we plan ahead), research, patience, a willingness to learn, and time - and that's about all. That's why I'm so convinced we can make it happen.

Anyway, that's what I'm doing/thinking about on my summer vacation.

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On a somewhat unrelated note, I've decided to have a giveaway - first because I think it'll be fun, and second because I'd like to have a better idea of who's reading this blog. Nothing fancy, but I'm giving away two new WRAP-N-MATS wraps. My sister-in-law purchased one for my son last year, and it's perfect for wrapping up sandwiches. It encourages both frugality and "green living." 

To enter, just reply to this post, include your name and e-mail address in the comment boxes, and answer the following question:

What book would you recommend others read this summer?

The giveaway ends on Tuesday, July 7 at 7 p.m. Eastern Time. I'll choose the winners at random and announce them on Wednesday morning. You must have an address in the U.S. in order to enter.

Debt - A New Plan of Attack

As we're unsure how our job prospects will look later this year, we're making a push to pay off our remaining credit card debt. It's important to us to get rid of the balance to avoid further interest rate hikes. Besides, the money we're giving the credit card company could be going into our cruising kitty. Presently, our emergency fund isn't huge, but it's decent for our lifestyle. We're going to keep contributing to it but at a somewhat slower pace.

We do contract work and get paid by a few different employers. Our paychecks are irregular and scattered about. Sometimes we get three in a week; sometimes we go for a month without pay. Given this situation, and given that anything in our checking account should be used for expenses, here's our new debt-reduction plan:

-The night before we get a paycheck, we'll write down how much is left in the account.

-The next day, assuming that the paycheck is sufficient to get us through the next round of bills, we'll take the amount that we wrote down the night before and put it to the credit card.

To me, there's no point in leaving excess money in the checking account. A checking account contains funds meant to go to the mortgage, our bills, school loans, etc. Anything extra should be placed elsewhere.

This plan might seem a little odd, but I think it'll work. I'll feel great once we make that last credit card payment. I hope we can do it by the end of the summer (and then we can start focusing more on our school loans - hurrah!)

Goals for 2009

We have a few fiscal and sailing goals for 2009. Given the unstable economy and shaky job market, we've decided we need to make the most of our current employment contracts and earnings. For us, 2009 is all about frugality, saving, and laying low. At the same time, we will continue to hone our sailing skills so that we can gain confidence and be prepared to take more advanced sailing lessons in the future.

Fiscal goals:

-Pay off Trent's last credit card.

-Put at least $75 a month into our cruising kitty (for a total of at least $900).

-Once the credit card is paid off, bump up our monthly student loan payments by $50 each.

-Stick to a "fun budget" of $150 per month - this budget covers things like going out to eat, coffee runs, alcohol, and babysitting expenses.

-Put 15% of earnings into our retirement accounts via automatic draft.

Sailing goals:

-Sail at least six times this year on the local lake. We do not own a boat, so we will need to put money aside to rent one.

Frugality goals:

-Go to the grocery store just once a week, instead of 2-3 times like we used to.

-Start using coupons when we go to the grocery store (our local Kroger actually lets us "load" the coupons onto our customer cards - no need to carry around paper ones).

-Distinguish between wants and needs: we need to pay for doctor's visits; we do not need new hardwood floors.

-Continue to look for free activities around town: the park, our running group, etc.