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our-next-year

Published on: 2021-09-22

After leaving BC last month and driving accross the country, we are now in the process of settling somewhere in Quebec. Since the housing market is schizophrenic, we decided to rent a condo for 12 months. We have the option to leave before the end of the lease, by finding a replacement tenant.

The plan is to move for October 1st and we will have a second income starting November 1st, then a maternity leave starting April 2022. To achieve that, we will use a free spot in a local daycare.

Our budget is now as below.

Total incomes monthly: 7171

Total expenses monthly: 3043

Total unused monthly: 4028

Or total without second income: 1028

Even with a somewhat expensive rent, we are below the 50% mark of ratio expenses/incomes, which is awesome.

Our expected furnishing costs to settle will be quite high though, but it was budgeted with the sale of our condo in BC since we sold almost everything.

We want to restrict the total below 12k, but it may go above. A recent inheritance will allow us to pay for those expenses.

And after a year?

I'm still puzzled in life as what do I really want. Daily, I question myself deeply, trying to align my long-term values to my short-term actions.

And in those actions are the definition of my lifestyle in the next months. As I am moving back East, I need to find our sweet spot, a house located where we want to enjoy our time for years to come, not a house conveniently because of jobs that I'm trying to dump sooner than later.

As our financial assets will reach our goal in the next years, I'm seriously thinking about giving up on the corporate world and the obligations.

As I forecast it, we should have rightsized our house and working part-time in a more meaningful job just tto cover the basic expenses will make a lot of sense with the fact that we should be able to live of the interests generated by investments.

If we can restrict ourselves to a $300k house, it would mean around:

By adding common expenses for a family:

Total expenses monthly: $3100

If working part-time at $20/hr for 20 hours a week, it means around a net income of $1,500/month.

With a low income, we could add:

With all incomes, we arrive at $3,139. Right on track with the expenses. This doesn't factor the possibility to get money from investments, but I am evaluating our ability to be Coast FIRE within few years only.
2021-10-06 (3884) / archives / about