Rebuild our 10% savings account

Unexpectedly got $1328.00 returned to us, this morning, from a loan made last year. It was supposed to return in a few months. And when it didn’t and many moons passed with no mention of the loan, it seemed that the loan had gone bad. Good news. Glad we continued to have faith in the loaner:)

So in keeping with the rule – ‘10% from every bit of money that comes into our hands’ goes to our 10% account. Another $13.28 into the ‘pay ourselves first’ bucket:)

It is soooooooo tough taking that 10% off the top of our income these days. With the renovations stacking up the bills – every single day, a person has to really stare down one’s inner (and outer) critics to stay sane and committed to the task.

We hear ourselves complain “we can’t save … right now”; “we’ll catch-up next month”; “we’ve done good in the past, a few months of wiggle room won’t hurt!” This is the slipperiest of slopes. Faking ourselves out, telling ourselves half truths, whining, almost forgetting that it is MUCH more difficult to get started or restarted than it is to stay consistent … is the proverbial ‘good intention … road to hell’ path.

The consistency of 10% from Every, single dollar (business income; pay cheque; birthday money; found money; bonus money; tax credits; refunds … all of it) is the only way!

Getting our businesses and lives turned in the new direction of totally electronic and part of each year in both the east and the west has been / is being a huge, massive, tension-filled undertaking that has / is messing with every aspect of our lives – including our ‘pay yourself (10%) first’ rule.

It all fell apart for quite a few months and we were all about wanting to catch-up, but not being able / willing to do what was necessary to actually do it. However, as of a couple of days ago, we’ve gotten our finances sorted out!!! yeah! And we’ve gotten all caught up with where our savings ought to have been:))

We’re close to the line, because of the (dream) house renovations. But we’re Not as money-frantic as we would be if we didn’t have savings. Its good.

Well, I’m not much for collecting ‘points’ or coupons or … And truth be told, I’ve giggled a few times at my cowboy who diligently does. I was wrong. Turns out that the Air miles that we have been collecting from loads of nights in hotels from business travel is now being claimed for gas coupons for our up-coming trip across to the east! Its a good thing. We’ve been crossing the country quite a few times with this move. Big trucks cost a bunch of gas.

And the transfer out of one of the 3 credit cards, we allow ourselves, has also resulted in points which we’re gonna turn into gas. Yea and boo. I wanted our trip to Spain or the Canary islands or …

The exciting news is that he (cowboy) proposed that we use the points for gas, but take the equivalent,in cash, that we would have spent on the fuel and put it aside in a separate savings envelope toward a trip! I love this idea. Finally, he gets it – we really are making a few steps out of work-a-holism! We started withdrawing the cash into ‘trip’ savings and have it in the safe.

After saving and saving and saving and making a couple of wise financial moves – we spent 80% of our savings buying a house (some say a wooden tent [100 year old non-insulated, no furnace ‘cottage’]).

Fortunately, we had decided Not to get a mortgage – a ‘blessing’ and a ‘curse’. We own it! – such as it is … unliveable until we get some winterizing and power upgrading done. Truth be told the bank probably wouldn’t want it:) No matter. The title is clear. It is all ours.

Going with the one-payment plan means that other than taxes (and the fact that we couldn’t survive a winter in it!:)) there are no monthly payments. Good thing too. The economy has been hard on our businesses. We’ve gotten a few huge lessons in scaling down, back and what’s really important when it comes down to staying afloat.

Before we started making a concerted effort to build our savings back up, the only thing we had left was a bit of money to get started with the demolition and the buying of insulation … and coloured glass tile. What can I say, I’m an artist. There’s only so much ‘sufferation’(Jamaican) I can take.

We’ll be starting on the house in the middle of MA. We really have to make a ‘run for it’ before winter … which comes weeks earlier in the east than the west.

The horror stories one always hears about ‘the money pit’ of old houses threatens to swallow up the little bit of savings we’ve begun to rebuild. No doubt it will be a challenge and lesson in delayed gratification to stay on course, debt-free and … liquid savings.