Financial Planning
The trouble with money is, nobody seems to have enough of it. As of yesterday evening, us included.
We just bought our house in late April, and it is brand-new. Just built. Wich is kinda nice, given that we know the entire history of the house — us. Unfortunately, now we’re in a pickle and I’m finding it more and more increasingly difficult to find a way out
We got a letter/bill yesterday from our mortgage company. They deal with paying the county taxes for us. Back about a month ago we got a bill in from the county that had a lump-sum bill in it to cover a short in our property taxes. Apparently, on newly-built homes, Clark County doesn’t properly set the tax rate. They have to, after the fact, adjust the taxes on a property once the structure is completed. I called our mortgage company on this and they said that there would be no problem, that they are handling it.
I ended up forgetting about it until the bill from them came in yesterday. It’s asking for a sizable escrow account payment by December 1st and also informed us that our now-increased county taxes have pushed our mortgage payment up… By $200 per month. Please, tell me a family that could handle that kind of expense increase easily. Yeah, didn’t think so.
So now we’re in a pickle. Not only do we have to figure out how to come up with a big chunk of change (at least it’s one-time), but we have to carve out another $200 per month to cover our increased county property taxes. How much fun is that?
Laura and I have already talked a little bit about how we’ll probably end up handling this. The problem is that we don’t have any obvious place to cut expenses from in our budget. We’ve tried addressing different areas but the best we can come up with is cutting a small amount from our home phone bill. We both have an “extracurricular” activity that costs money each month, but we’re trying to figure out how to not cut those out, because we’re human and need recreation in whatever form we can get. Without that, we’ll have a tougher time coping.
So we’re officially under the gun financially. I’ve been worried about money for a couple months, but now I’m worried about things like Christmas. I don’t think we’ll be able to get many gifts for people this time around, and I feel kinda bad about that. Ultimately, I guess it’s better to not be able to buy gifts for loved ones rather than sink further into debt. It sucks, but I think our family members will understand.
This economic crisis is starting to worry me, and greatly. I thought Laura and I were on solid financial footing, so if we’re having issues, what’s it like for other people? I’m also curious to discover how other people are dealing with issues like this, perhaps to find some inspiration on what we can do.
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You are SO not the only ones, Robert. The same thing happened to our escrow and mortgage payment the first year. Now we’re foreclosing after trying and failing to short sell. Obviously, that’s not an option for those who are living in the homes they are struggling to pay for. Thing is, you can’t just rent your whole life. It’s the American Dream, right? Buy a house, you and your family live comfortably and have vacations and are able to enjoy life as you see fit. Except the American Dream is getting holes in it; it’s the broken economy, the shitty president, the bullshit politics…but then again, it’s something else, too. Capitalism worked for a while…but it seems to be breaking down. It’s got a rotten core these days. And the only thing us little people can do is keep plugging along, surviving. Either that or hitchhike the rest of our lives…hide out in mountain caves. I dunno. It’s definitely a pickle. I feel you. I really do. Just know you’re not alone, and your friends will always be there to help. Sometimes that’s all that counts.
Further thinking…You’re absolutely right about retaining your sanity through your recreational activities…But are there other activities you could do that would save more money? As an example, hanging out at the dog park together with your dog? That’s the great thing about pets: they help us refocus. Sometimes we get so wrapped up in the scary bullshit of being an adult that we forget to pay attention to the little things, and our pets don’t let us forget them. They poke you with their noses or drop a ball at our your feet, and you remember: hey, this is the good stuff. Loved ones can do that, too, but we have to remind ourselves to because it’s so easy to gripe at each other and stress at each other instead of just cuddling. Just try not to let the stress about money drive a wedge between you guys.
Nah, I don’t think stress will drive a wedge between us. I think we’re strong enough to make it through tough financial times.
And you’re right about pets. Pepper will just come on over and look for attention with her tail wagging, and it’s pretty tough to resist. :p