Time for an update on our progress in Creating Our Kaleidoscope of a life: even though our family is mostly settled into the new home, there is still more work to be done towards our next goal of financial semi-independence.
The Holidays
We just hosted Thanksgiving for our families, for the first time ever! It was so nice to have enough space for everyone. The meal included brussel sprouts harvested from the snow at our old house, and green beans that were frozen from the garden this summer.
Speaking of space, the Christmas tree is up and not taking up our entire living room anymore 😀
Last year, my father was in the hospital during Christmas and we ended up losing him in January. I am hopeful that a fresh start in our new home will help me move forward and enjoy this year’s festivities. The kids have special concerts coming up at school and we’re continuing with our tradition to drive around and look at Christmas lights, with cookies and hot cocoa. I am looking forward to Christmas as a time for celebration, family, rest, and reflection.
Rental Property # 2
Mr. Smith has been working very hard to fix up our old home to be rented out in the near future. He has replaced all of the windows, and is in the process of putting down new flooring, replacing the downstairs bathroom, and painting all of the walls. He has run into some issues along the way, including an ant infestation and water damaged wood. In addition, I provided him with a list of things that need to be addressed (as an attorney), such as a step into the house from the back porch which is definitely not to code. This remodeling project is one of our top priorities right now, as we are paying three mortgages with only one tenant. We hope to have the property rented out as of January 1, 2023.
Finances
Our financial situation is tight right now. We have cash in the bank, even after our big down payment on the new home this summer, but we are losing money each month. As soon as we get a tenant in our old home, we will start moving forward again.
We did open a new credit card, with 18 months of no interest. This new credit card represents an interest-free loan to us, which is being used to help pay for the remodeling expenses. This is the only card that we will open. And, we know that it can all be paid back well before the due date, when interest starts accruing. We take this new credit card and the due date very, very seriously, because we have learned from our past mistakes.
Family
The kids have been adjusting really well to the new school, which was one of my biggest concerns in moving. Goofball has joined the modified swim team and loves it. Tornado has a best friend who spent the night here a few weeks ago (the first time that we have ever hosted a sleepover). Trey is really happy about having his own room. The twins are enjoying school and they like having an attic play space.
We added a new member to the family, and she is just the sweetest thing. The old house was too crowded to add any more pets, so when our other cats died of old age, we were patient before adopting any new kitties. But now, introducing: Reese or Reesie
Our Homestead
Just before the first snowfall, Mr. Smith was able to repair some cracks and seal the roof of our wrap-around porch.
We are still working on updating the kitchen. It is taking forever! The cupboards are all freshly painted. Mr. Smith is still peeling wallpaper and painting the walls. I have been very slowly making progress with stripping paint from a wood doorframe and window frame, to be stained to match the rest of the house.
The sugar maple trees are marked with bright orange yarn, so they can be tapped in the spring.
I have been cracking open the black walnuts we gathered a few months ago, which is a lot of work, but worth it for free food. I’m looking forward to using these walnuts in Christmas cookies!
Side Hustles
Christmas spending seems to always motivate me to earn some extra money.
Poshmark continues to be a huge help for keeping our expenses low. I have earned a total of $980 from selling old clothes, in the past year. The credit from these sales has allowed me to buy new clothes, shoes, and other items, without spending any money at all.
I am trying to return to Bar Exam tutoring – a side hustle that had to be forfeited during more stressful times. It is a seasonal position, and now that all of the kids are in school, it would be nice to have the extra money.
Swagbucks requires more work these days, as you can’t just earn pennies for letting videos play in the background. I have been trying to do some surveys, instead of scrolling through social media. My goal is to earn $50 in gift cards over the next few weeks, to use towards Christmas.
Finally, now that I have enough finished crochet projects with no intended recipients, my Etsy shop will be opened soon.
Future Plans
A recent snowstorm flattened all of the vegetation in our two fields. This has allowed us to clearly see the boundary markers. We are starting to plan out where everything will be planted, including two gardens and a couple of apple trees. We are also planning to get things ready for chickens and hopefully, bees. It’s been very exciting to discuss all of our options and make these plans.
We do have a very big expense coming up next year – our new home needs a roof and the chimney needs to be relined. Frugal living, side hustles, and rental income will be crucial to having enough money in the bank to cover this expense.
In addition to the garden and chickens, we are experimenting with new ways to lower our expenses for food. The price of the things we eat continues to increase, and there is a lot of talk about impending recession. I have a new post coming soon about what we eat, and spend on food, for a family of seven.
Readers: What are you looking forward to this Holiday Season? Anyone also making plans for spring already?
