Monday, February 04, 2008

Some strategies for 2008

1. Refinance both homes if possible.
2. Accelerate paydown of HELOC on new home.
3. Sell old home (if possible - bad market).
4. Get raises (expect to be disappointed for his job).
5. Help relatives reorganize expenses to reduce cost of assistance.
6. Possible get new job to either reduce travel and/or incease his income.
7. Have at least two special family vacations.
8. Retirement contributions for children employees.
9. Identify domestic expense reductions (eliminate subscriptions, release nanny)

The overall theme is to reduce costs.
Right now the second house isn't selling and it's hurting our cash position.

We've hit many of the new home expenses with some potential big ones coming up:

1. Possible replacement of house infrastructure (hvac, water heaters) - too old.
2. Windows - very high quality, but I'm seeing frosting on the inside.
3. Network cabling - whole house (this is really optional).

I'll probably post next on our expense reduction.


1 comment:

Anonymous said...

Frosting on interior windows could just be due to high moisture content in your interior air. Do you have a furnace with built in humidifier? If so turn it down when it gets colder outside and it will eliminate the frosting usually.

Why would you invest in network cabling given the increasing use of wireless for almost all devices needing to access the internet?