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Mid May Update

May 13th, 2009 at 05:40 pm

Wow!!! What a month so far. Things are finally calming down. I had a few interviews in New York and California. At the end of the day, I like where I am currently and where I am heading at the moment.

By paying off all my consumer debt and medical and having an emergency fund, I have this sense of content in my life. I no longer feel like a hamster on a wheel, trying to out earn my spending. For those of you where I was, it is worth the struggle and sacrifice to be debt free.

The way I would explain it is you are at the bottom of a hill and there is a path going up the hill. It is heavily wooded, sometimes you can get a glimpse of the sky but the view is obscured. Its buggy at times and dark, sometimes you slip on the loose gravel. When you get to end, you see this spectacular scenic view and for that moment you feel in awe of what you have accomplished. That's what getting out of debt felt like to me.

Now, I am back at the bottom of that hill and looking at a much steeper longer journey – paying off the mortgage. At first like the last hill, it looks daunting. I can't even see the top. I am standing at the bottom in the shadows and am in awe, is it too high, am I ready for this, maybe I can just rest a little more?

Then my inner voice speaks up, "What are you waiting for? There aren't any escalators here."

And with that I continue my journey.

(My refinance went through. My mortgage will be 353,000 at 4.5% for 15 years. I have shaved off 11 years and around $267,000 in interest.)

8 Responses to “Mid May Update”

  1. Valerie Says:

    that's a great feeling...not to always feel like you're on the wheel of life, but you can stop and smell the roses once in a while.

    good work on the mortgage.

  2. Broken Arrow Says:

    Um, New York and California? So, you're searching everywhere eh? I wish I could do that. My custody pretty much requires that I stay put, but maybe some day.

  3. merch Says:

    BA - The wife was not looking forward to any moves, but the investment industry is in shambles. So, it seemed prudent to take a look around. Since Feb. thinks are starting to settle.

    My only thing waas no american banks.

    But always nice to know the options that are out there. Smile

  4. creditcardfree Says:

    Great job on the refinance. I suppose that puts you a little farther up the hill than before!! Great analogies. I completely relate.

  5. baselle Says:

    Interviews? Are you interviewing to get back to 100% or because you were laid off? Apologies if I'm probing too deeply.

  6. merch Says:

    No worries. I wasn't laid off. I am consultant in the investment area. As a consultant, we are usually the first to go. With the market plunging in the first quarter, my job going forward looked less stable. So being proactive, I started networking and looking to see what was out there in case I got laid off.

    Since things have started to settle and calm down, I can have more confidence in remaining in my job and eventually going back to 100%.

  7. Miss Sporty Saver Says:

    Deep blog bro! Great analogy. It got me super pumped to erase the rest of my debts. Thanks, and good luck!

  8. ceejay74 Says:

    Nice job on the refi! I would love to do mine, but there's no help for underwater mortgage holders who are current and doing fine. Will just have to wait until either I pay off the extra water or home value rises above the surface again. I live on the 18th floor, so it seems strange to be underwater! LOL

    My breakneck pace of debt repay has slowed in favor of EF saving and spending on some luxuries (vacations, rental cars). However, things are chugging along, albeit more slowly, and will pick up pace again if AS's job situation improves and nothing else bad happens. In other words, my next infusion of cashflow, if there is one, will go toward debt repayment.

    Good to hear from you!
    CJ

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