Posted by Sheryl on October 17, 2012
This is a guest post from Sheryl in Ontario, who is 40 years old with a grown daughter, and is trying to rebuild her retirement dream just 20 years too late for early retirement.
I’d like to start by thanking everyone for their advice when I asked for their opinions a few weeks ago.
The easiest changes to show are:
Cell Phone – $35 – stayed the same. I did look around, but for what I use, this is the best plan I’ve found.
Landline – $0 – gone.
Internet $25 (plus tax) – Had to commit for 2 years, but this should be sufficient for my needs.
Netflix - Dropping later this month after I’ve finished watching a series I wanted to see.
Gaming Account – Still undecided about dropping. If I am playing, I’m not going out doing anything else that costs money, so the hourly cost of my entertainment is low. I’ll see how it goes after I’ve stopped Netflix.
Car & Condo Ins – $200 (down from $480). I’ve yet to have a positive experience with a car insurance agent. After hours on the phone, having to request that things showing on my record that shouldn’t have been there be removed, adjusting deductibles, chasing my daughter to officially change her address, I now feel this is a reasonable amount.
My Home. Although I can see the logic of selling my condo and renting somewhere, I’m not ready emotionally to take that step yet. I would need to upgrade a few things in my home in order to get enough equity to pay off the fees for ending my mortgage early and clear my debts. Most of the work, I’m fairly certain I can do myself.
My Plan. I am looking for a renter for my spare bedroom, as well as a part time job to bring some more income in. In the most cost effective way I can, I will do the upgrades as I can find materials to do them over the next little while. After I get the work done, I’ll reconsider selling. Yes, I realize I’m intentionally not taking the fast track to FI with this non-move, but I know I have to process some things emotionally before I could sell without looking back.
These changes I’ve made (and are in the process of making) should give me some good traction so I can feel like I’m accomplishing something again.