I've been reading financial service books, and several of the folks I've read, I enjoy. Suze Orman and Dave Ramsey are two. She started out a waitress, and he's had to file and declare bankruptcy so they understand what it is to scrape by. David Bach, however, is one of those who've never been poor. He's third generation investor and doesn't get that sometimes in order to make ends meet, you can't actually put $100 into a retirement fund because you don't have that to spare.
My goal is to get my husband (myself since I married into it) out of credit card debt so that we don't have to pay the fees and interest. When we're done paying on the car in March, we're not going to trade it in and buy another. I want, desperately, to be able to start saving for a significant down-payment on a house (not here) but I'm afraid that none of these goals will be reached because rent is going to be increased in January and there aren't any apartments or houses being rented for less than what we're paying and will accept our cats.
I was spoiled growing up. I was never concerned about money, though as an adult now, I worry about my parents and rising cost of living on a decreasing retirement fund.
The recession that's starting in the US is also starting in Canada, albeit more slowly and it's different. The housing prices are coming down, but not to a level that we can afford. And once they're at a level we can afford, well, there are laws going into effect in the 4th quarter that say you must have a minimum of 5% down on any home you mortgage, and the amortization period can be no more than 35 years.
I don't know how we're going to be able to afford to live since I'm still unable to legally work. Hopefully I'll have the proper paperwork settled and in place by the new year.
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branchandroot
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Date: 2008-08-01 12:22 am (UTC)My goal is to get my husband (myself since I married into it) out of credit card debt so that we don't have to pay the fees and interest. When we're done paying on the car in March, we're not going to trade it in and buy another. I want, desperately, to be able to start saving for a significant down-payment on a house (not here) but I'm afraid that none of these goals will be reached because rent is going to be increased in January and there aren't any apartments or houses being rented for less than what we're paying and will accept our cats.
I was spoiled growing up. I was never concerned about money, though as an adult now, I worry about my parents and rising cost of living on a decreasing retirement fund.
The recession that's starting in the US is also starting in Canada, albeit more slowly and it's different. The housing prices are coming down, but not to a level that we can afford. And once they're at a level we can afford, well, there are laws going into effect in the 4th quarter that say you must have a minimum of 5% down on any home you mortgage, and the amortization period can be no more than 35 years.
I don't know how we're going to be able to afford to live since I'm still unable to legally work. Hopefully I'll have the proper paperwork settled and in place by the new year.