My financial life has improved dramatically from my days of lamenting about not having enough money and living in the fear of job loss. It's been a good while since I received the bequest from my grandparents' estate and my husband is still employed and I have learned to deal with the present and need to have a focus on the future.

Those doing UFMC with the Frugalwoods knows today's challenge is where do you want to go? We are in the process of downsizing from primary residence (23oo sf) to a 16oo foot townhome (three bedrooms/finished family room as the young adults are 21/20/17/15). The goal of this is to simplify our finances (buying cash with equity from current home) and to be able to travel to California more readily.

So the short-term goal: Sell current home (we are within four weeks of listing) and purchase new home.

Another short-term goal: Substitute teaching license for working in the fall. Should have done this last year, my skillset and lack of experience outside of higher religious education has made it impossible to get a job that I'm qualified for.

Medium-term goal: In four years purchase 25% of California condo from my parents (it is in a 55+ community that we are too young to co-own. My parents are fine with full ownership though the original plan was 50%-50% now. Starting in Sept I will pay for half of the monthly association costs.
I would like to save $60,000 by November 2023.

We are cash-flowing everything for the home remodel. Bathroom 1 is finsihed. Since April we've spent: $600 dryer for rental property; $600 for car repairs; $500 labor to finish bathroom after we fired friend; $250 for graduation dinner for 8th grader; $500 for older son to visit family in California in June; $150 toilet; $300 flooring for two bathrooms; and the list just keeps going. I also spent $400 for a girls weekend in Las Vegas in May. I've also budgeted for $800 for California next week with younger daughter.

Here is a quick financial snapshot:

Vanguard money market: $135,000
Fidelity 401K: $76,190
Vanguard IRA: $1,500

Z-estimate Value of Primary Residence: $490,000
Mortgage on Primary Residence: $206,000
Equity in Primary Residence: $284,000

Z-estimate Value of Rental Property: $237,000
No Mortgage
Passive income generated: $1,600/month
Cost per month: $400 taxes, $70 insurance

Now to be smart and responsible in making money decisions.

I plan on continuing the budgeting by paycheck method that I found over at thebudgetmom.com. She's pretty simple and straightforward and I am actually finding success with her plan. Over at OneDollar with Dave Ramsey, their monthly challenge is planning for Christmas. While I haven't got that as a sinking fund, I am randomly saving $5 bills in a Christmas reindeer piggy bank that lives on my closet floor. Fairly easily I've collected $70 since January.

Its so nice not be robbing Peter to pay Paul, especially when they are one in the same.

If you're still here, thanks for reading.