All posts filed under: savings

Why I choose to rent…for now at least

Ever since my husband and I became debt free, most people in our circle of friends and family keep asking us when we are going to buy a house. It’s a very reasonable question as most people our age (early 30’s) are getting married, buying homes and making babies. The truthful answer to this is, I don’t know and I am in no rush. After grinding away for 2.5 years to pay off $120,000 of debt, the last thing on my mind right now is to get into more debt. Now I know the argument that mortgage debt is good debt, but that is beside the point. Where I stand personally in my life right now, debt is debt. Yes, I agree good debt (if there is such a thing) provides you with a better interest rate and increases your long term assets (sometimes), but your still on the hook to pay it back and that’s what I want to avoid right now. The feeling of owing anyone, anything. I know this feeling will probably…

7 Reasons Why Gen-Y Can’t Save $$

I am almost convinced that my dad either has 3 bank accounts spread across the world, a side job that no one knows about – *queue in detective mode, mum*, or a magical power that allows him to save every penny he earns, and still ALWAYS find a way to make ends meet, financially. So often, when I am sitting in the living room during our ritual ‘family hour’ at 8:30pm every night, my dad will turn around and ask me, “How much money have you saved in your bank account?” Why do you ask, old man? IT’S A TRICK QUESTION, DON’T FALL FOR IT, I tell myself. Why does he care so much about my financial situation? Being the suspicious person I am (I’m not – as a matter of fact, I am wayyy too trusting), I went to the bank to ask whether my dad had access to my accounts, and knew how much I was spending on the daily. Turns out, he didn’t. He was just not utterly oblivious to the fact that I…