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Tank-Girl

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Dec 4, 2017
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As you may know I've recently reached a huge financial milestone in paying off a huge tax bill.

My next goal is to buy a battery bank for my solar power system.
I need to have some way of having energy independence even if it's in a small way.
Also with the rate inflation is increasing I need to buy the batteries soon
before prices sky rocket.

I'll also be increasing repayments on other debt so that isn't being ignored.

What are your goals and what are the steps your taking in achieving them.
Post them here because it's really nice to have some place to share your wins
with people you know are 100% cheering you on and will give you a pat on the back.

Thank you
 
right now we are saving up to buy a generator for emergencies .like the power off for 24 hours in 100 degree heat. but we really want solar . we have use of a generator for now but if the stuff hit the fan we won't. also going to cut down to 1 freezer. now that i've retired i'll have more time to do the canning like i want to . on that note i thought i was going to start today , but i neede a couple ingredients i didn't have. so hubby took us out to supper tonight and we stopped and picked them up, so i will start in the morning.
 
right now we are saving up to buy a generator for emergencies .like the power off for 24 hours in 100 degree heat. but we really want solar . we have use of a generator for now but if the stuff hit the fan we won't. also going to cut down to 1 freezer. now that i've retired i'll have more time to do the canning like i want to . on that note i thought i was going to start today , but i neede a couple ingredients i didn't have. so hubby took us out to supper tonight and we stopped and picked them up, so i will start in the morning.

Congratulations Timmie and that sounds like an awesome plan!

I have a 4 stroke gen-set here because I live in a tropical, northern part of Australia so outages are common during our wet season.

Canning hasn't really taken off here because the canning equipment is so expensive.
You pay a crazy amount of money for a single flat of narrow mouth pint jars.

What will you be canning?
 
I have been thinking of installing solar here. It makes no financial sense to do so because our electric bill is only $45 to $50 per month. We already have a generator for emergencies. I am only considering solar because it seems a shame to waste all this sunshine everyday. Plus I just want to do more to get ready because sometimes I feel things will get bad in the near (1 to 2 years) future.
 
Congratulations Timmie and that sounds like an awesome plan!

I have a 4 stroke gen-set here because I live in a tropical, northern part of Australia so outages are common during our wet season.

Canning hasn't really taken off here because the canning equipment is so expensive.
You pay a crazy amount of money for a single flat of narrow mouth pint jars.

What will you be canning?
cranberry conserve,chicken veggie soup, and ham chunks tomorrow. then i also saw some corn in the first freezer we are gonna work on. we have 3. 2 of them are large chest freezers. so we have our work cut out for us.:D
 
I have been thinking of installing solar here. It makes no financial sense to do so because our electric bill is only $45 to $50 per month. We already have a generator for emergencies. I am only considering solar because it seems a shame to waste all this sunshine everyday. Plus I just want to do more to get ready because sometimes I feel things will get bad in the near (1 to 2 years) future.

Fantasic idea Hiwall.

Don't get lulled into a false sense of security.
Having plan A, B and C in place is always a good idea.
 
cranberry conserve,chicken veggie soup, and ham chunks tomorrow. then i also saw some corn in the first freezer we are gonna work on. we have 3. 2 of them are large chest freezers. so we have our work cut out for us.:D


Good luck and I hope you have enough jars and lids.
I hope you can pause for a moment and post pics of your progress.
I LOVE pics of people's gardens, pantry and canning.
It helps to keep me focused on my food storage goals.
 
I live below my means.
Have a budget and stick to it.
When I say budget I mean yearly budget in addition to monthly budget.
I plan to have so much stashed at the end of the year that I would be okay for 3-5 years.
I have money in Savings account, also Checking account.
I live on less than half of my check.
My only big expense is car payment on new to me car( just hit 3245 miles on 2015 Fiat 500 Lounge), full coverage car insurance.
I garden, can, dehydrate everything I can get my hands on.
This last week I cooked and stocked the chest freezer with homemade meals.
My grocery bill runs about 25-45 every two weeks.
Pantry is well stocked with home made soups, stews, seasonings mixes, almost have dry milk on hand for emergencies.
Next month I will purchase another meat bundle which will last me about 3 months.
All I got left for this month is refilling propane tanks for the gas grill.
Do most of my cooking outside in this heat.
This winter I will go back to making bread to heat the house among other things.
 
As most might be aware due to circumstances beyond our control we are starting again to save for our home which by the way we are 26.35% of the way there to buying our land, having our home built, having verandas put on the house and a triple bay garage built and buying a second car all in the percentage specified. We are planning to borrow around 50 -60% from the bank and buying our land with cash as the deposit part of the loan.

We also live way under our wages with DH on a military wage (compensation payout pension due to injury in service) and myself on a low carers pension but we do save anywhere on average 50 - 70% of our combined after tax incomes whilst paying rent.

Here is how we are doing it and the measures we are taking -
- Remaining completely debt free and owning everything we have to date by buying with cash or using our credit card and immediately paying it off before the end of the month incurring no interest.
- Keeping a 3 month home and bank emergency kitty.
- Building up food storage, prepping items and needed equipment for acreage living up to a 9- 12 month level before getting our house loan, another form of emergency kitty :D .
- Haggling for the lowest price on everything we purchase.
- Growing all our own vegetables which saves us $3500 a year plus including expenses being taken out over purchasing them in the local shops.
- Cooking everything from scratch and preserving by blanching and freezing all our vegetables to supply us for a year. Any excess to our needs gets both sold and some given away too.
- Only buying things where we can on huge specials and stocking then.
- Trading with others for items we need in our home that we don't produce with items that we do.
- Negotiated the use of our land to a friend with bee hives to give us 15 kg of honey per year for our food storage and we also get another 15 kg of honey when he uses our trailer with cage for long honey related business trips.
- Selling our dried herbs, saved garden seeds and my handcrafted items for additional income on the internet as well as DH taking on some occasional CIH gardening work and myself occasional house cleaning too.
- Repairing and maintaining our own equipment and cars where we have the knowledge to do so rather than paying for services.

Shall keep you all updated on our progress :).
 
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We are working on making repairs and fixing up this house so we can sell it when hubby retires next year. We are also working on the mountain place which is being done as we have the cash. We paid off our camper this year and we paid cash for the other place so once this place is sold we will only have utilities to pay. We are also looking at solar for the other place, mostly for the well.
 
Buying our home last year while on a fixed income was successful. We had to put some money on credit cards and had work done like a back door put in and fencing the back yard with a shed for the goats and dogs. Also put a little on a card for furnishings.

So far we have paid off the card for furnishings. Next month will have a 2nd card paid off. Neither of these two cards do we normally use. Our phones are now paid off this month through Verizon so that bill went down $45. Leaving one credit card that eBay fees and car insurance go on plus still have some home improvement on it. After next month, all extra monies will go to pay that card off. All this while still on very low fixed income.

I only buy and stock up during sales and can anything I find a good deal on. Next year I will work more on a garden and not in containers. We have owned the house a year as of yesterday and am glad we have gotten as far as we have.
 
Forgot about this thread and to update everyone we didn't end up building a home after all but found an already established good quality 1910 - 40's home on 1.21 acres of land. We put a near on 40 % deposit down on the home and now have a small mortgage. We have paid off a little over $3500 off of the capital of the home loan since December last year as well as making the minimum fortnightly payments.

We have a couple of newer goals we are saving up for which are -

- To save up for 6 metal above ground gardens beds, 19 mm piping and shadecloth to get our vegetable gardens going again.
- Buy an inflatable spa for DH for pain relief for his back injuries.
- Buy insulation batts for the ceiling of the home and install them ourselves.
- And lastly our goal is to pay off our home mortgage in as close to 10 years instead of 20 to cut both time and bank interest paid.
 
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Having to meet a large medical deductible for the new year might stand in the way of working toward our debt for a short period.
Two debts were recently paid off so that will help.
Switching gears on who is taking care of paying the bills...my turn.
Recently someone wanted to make a purchase of an item that would cost several hundred dollars. I said no. ;)
Looking forward to the spring where people bring in extra fruits and vegetables for us where I work. I missed making plum jam because of an emergency that turned into a major issue. Maybe this year.
 
@Patchouli great that you have paid off 2 bills already and keep up the good work. Always a major turnaround when the other partner takes over the finances but it gives a new perspective and usually I find that one partner is harder than the other on spending.

In our home it is me but I do the finances currently and keep DH abreast of what is going on. He even knows should I get sick that it is all written down in my ledger what to pay for what each week.
 
I'm facing a huge learning curve, @Sewingcreations15 . So many passwords, online payments, dates due. I'm sure I'll enjoy it, seriously.
He used to get frustrated with me when I handled it before because of the lack of funds after I'd pay the bills. Ya think? Lol
He was very good at juggling. I am more of a slash and burn bill payer.
 
I have a unique system...
I throw all the bills up to the ceiling and pay the ones that stick. ;)

OK, that is not entirely true. I do pay all the bills - in full every month. I also pay myself by transferring money into the savings account. I like to keep at least $5000 in the checking and enough in savings for the next emergency plus enough for six months worth of bills. I do have some in stocks and bonds, some in gold and silver and some cash stashed in case we need it. My wife asks if we have money to spend and I give her a limit. I sometimes splurge on myself but it is usually little niceties for her, because she is worth it. I can wait for three or four years before I splurge. She wants it as quickly as she can get it, but she asks first.
 
Sounds like you have it all sorted @SheepDog in your relationship. DH and I also discuss all expenditures and DH asked me if he wants something is it in the budget. I spoil him too I must admit.

@Patchouli I think DH is a slash and burn bill payer too as well as me but there are times when it is good to let go of the reigns a bit and occasionally have a special treat or date night together too if it can be fitted into the budget.
 
Husband pays the majority of our bills. He has a tornado of a desk, but knows where everything is. Some are paid on line, some are paid by mail. He has spreadsheets on the computer to keep track of everything for the entire year. It's all complicated. Just like how he does our taxes but has an accountant do them. I am not interested, but can see where everything is going and what is due, when. Our biggest bill will be finished a year from May. That's when youngest gets her MD.
 
Most of my bills are on auto-pay. I had to do this when I was teaching, because otherwise, bills would be missed and not paid, while there was money in the bank for them. I have one bill that I have to pay. Auto-pay is not allowed. It is for sewer and storm cellar fees. I have asked several times for this to become an auto-pay, but nope. I wonder who is benefiting from that? No homeowner, for sure.

Now I think I should visit with my neighbors about what they think this is about. One neighbor is good about codes, city council, etc.
 
As newly weds with two incomes and no children, the wife said that she wasn't going to waste "her" money on bills, that was my responsibility and that was final. I thought credit cards could be a financial problem and I was against having any, she didn't disagree.

Five years later we discussed having children. I instigated a discussion on starting a budget. Envelopes labeled for different things. From my paycheck I would money in each of the envelopes every payday. Wife would take the "Grocery" envelope when she went grocery shopping, "Doctor" envelope for medical and etc. At the end of the first year all remaining money I placed into savings, wife objected. She said she had cut back on some of the budget items in order to save towards larger items. OK, I excepted that so the following year any "left over" funds would remain in the corresponding envelope(s). My truck was low on gas so I took the "Gas" envelope. After work I pulled into the gas station, I looked inside the "gas" envelope to see how much gas I could buy. The envelope was full of "IOUs" !? When I got home I checked the other envelopes, very little money but a lot of "IOUs"!!!!! Wife had been overspending from one envelope and borrowing from the others until there was very little money left. In her defense the wife said she had never agreed to the budget (men note: silence is not an agreement) and I wasn't putting enough money in the budget (compared to the zero amount of "her" money that she put into "Our" budget. "We" changed to a one envelope budget. I put X amount into the one envelope every payday, which 100% to be used at her discretion. I continued to pay all of "our" bills and my own gas, truck repairs and medical.

Fast forward a bit. We now have children and living off of one income (mine). We had a dry, warm house to live in and three meals a day. Wife complaining about how long its taking me to remodeling our 100 year old house. New roof, new electrical wiring, new plumping, new widows, new kitchen, new bath rooms, attached garage, siding, bunch of little things and she is disappointed on the 20 years it took for me to save up and do the work myself (couldn't afford to hire it out). After a Sunday evening service wife tells me that we are meeting some of the other families at DQ. I ask if she has any money because I'm low. No she doesn't. I say we'll have to cancel and go some other time. I'm told that is not an option because the other families had all ready left and will be waiting for us. I tell the wife how much I have and she says that's enough. At DQ she orders a large Sunday, that leaves enough for 1 small bag of French Fries for the children to split between them. #1 son looks around at the the other children gorging themselves on hamburgers, fries and ice creme and whines to me that he wants more to eat. I take him outside and with a few finger pokes in his chest I explain that is all the money I have and did he notice that his dad didn't have anything to eat?

I change careers. Less hours, better benefits (including a pension) and a lot better pay. Sold the old house and had the wife's dream house built. Children worked their way though college, married and we are empty nesters. Putting 20% into the company's 401K (they match up to 3%) to make up from my previous career. Company puts $x,000 into each employee's Health Savings account, I don't tell the wife so that money can accumulate and be available for our retirement years. Every car that I have purchased for her she has totaled or caused expensive damage. The last car she ignored my warning that because of the snow storm it would be best if she stayed home. Instead she wrapped it around a electrical pole and totaled it. I told the wife if she wanted another car she would have to buy her own AND take care of maintenance too (that went over like a lead balloon). Took her car shopping and she bought one. After two crumbled fenders, bent rear bumper along with the trunk lid and a dent in the front you can't see (I've never did figure that one out), bless her heart, her pocket was hit hard enough that she hasn't hit anything or had an accident for three years (a new record!).

Retirement is coming up. I paid the house mortgage off six years early, I'm now debt free. I'm driving a 13 year old truck (in very good condition) that has only 100,000 miles, it will last me another 15 years easy (by then I'll be old enough for the kids to take my driver's license away from me). At supper I ask the wife what she is planing on using for income when I retire? Her answer was that she thought I would take care of that. That is also when I learn that she has three credit cards which are close to being max out. Her "Business" required that she purchase $$$ amount every month to main her "franchise" which is more then she sells a month. Evidently from my facial expression she realizes I'm not happy, "Guess I'll have to work forever and not ever be able to retire", she pouts. "That is your choice", was my reply. Last year wife had some major medical problems and that is when she learn about my Health Savings account, she was relieved that she didn't have to pay the co-pay, that I would take it out of the HSA. Then she came up with the idea she could save "her" money by using the HSA for her contacts, over the counter meds, prescriptions and...I said no. That money is for when we are on Medicare and retired.

Wife is planning on paying off all of her credit cards debt by the end of 2018. Update, now it's by the end of 2019. No I'm not holding my breath.

Cousin of one of the wife's friends is working towards a college scholarship by selling kitchen knives (sounds fishy to me). Friend tells the wife not to be pressured to buy, cousin gets some credit for making the sales speech. Wife ends up charging $200 to her CC for knives that she doesn't need. Wife said they will be future gifts. When I ask how did that CC charge help her with her goal of paying them off by the end of the year, I get the deer in the headlights look.

Now that my blood pressure is up several points for writing this...think I'll click "Post Reply" and go work on a SHTF story for the Library.
 
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As newly weds with two incomes and no children, the wife said that she wasn't going to waste "her" money on bills, that was my responsibility and that was final. I thought credit cards could be a financial problem and I was against having any, she didn't disagree.

Five years later we discussed having children. I instigated a discussion on starting a budget. Envelopes labeled for different things. From my paycheck I would money in each of the envelopes every payday. Wife would take the "Grocery" envelope when she went grocery shopping, "Doctor" envelope for medical and etc. At the end of the first year all remaining money I placed into savings, wife objected. She said she had cut back on some of the budget items in order to save towards larger items. OK, I excepted that so the following year any "left over" funds would remain in the corresponding envelope(s). My truck was low on gas so I took the "Gas" envelope. After work I pulled into the gas station, I looked inside the "gas" envelope to see how much gas I could buy. The envelope was full of "IOUs" !? When I got home I checked the other envelopes, very little money but a lot of "IOUs"!!!!! Wife had been overspending from one envelope and borrowing from the others until there was very little money left. In her defense the wife said she had never agreed to the budget (men note: silence is not an agreement) and I wasn't putting enough money in the budget (compared to the zero amount of "her" money that she put into "Our" budget. "We" changed to a one envelope budget. I put X amount into the one envelope every payday, which 100% to be used at her discretion. I continued to pay all of "our" bills and my own gas, truck repairs and medical.

Fast forward a bit. We now have children and living off of one income (mine). We had a dry, warm house to live in and three meals a day. Wife complaining about how long its taking me to remodeling our 100 year old house. New roof, new electrical wiring, new plumping, new widows, new kitchen, new bath rooms, attached garage, siding, bunch of little things and she is disappointed on the 20 years it took for me to save up and do the work myself (couldn't afford to hire it out). After a Sunday evening service wife tells me that we are meeting some of the other families at DQ. I ask if she has any money because I'm low. No she doesn't. I say we'll have to cancel and go some other time. I'm told that is not an option because the other families had all ready left and will be waiting for us. I tell the wife how much I have and she says that's enough. At DQ she orders a large Sunday, that leaves enough for 1 small bag of French Fries for the children to split between them. #1 son looks around at the the other children gorging themselves on hamburgers, fries and ice creme and whines to me that he wants more to eat. I take him outside and with a few finger pokes in his chest I explain that is all the money I have and did he notice that his dad didn't have anything to eat?

I change careers. Less hours, better benefits (including a pension) and a lot better pay. Sold the old house and had the wife's dream house built. Children worked their way though college, married and we are empty nesters. Putting 20% into the company's 401K (they match up to 3%) to make up from my previous career. Company puts $x,000 into each employee's Health Savings account, I don't tell the wife so that money can accumulate and be available for our retirement years. Every car that I have purchased for her she has totaled or caused expensive damage. The last car she ignored my warning that because of the snow storm it would be best if she stayed home. Instead she wrapped it around a electrical pole and totaled it. I told the wife if she wanted another car she would have to buy her own AND take care of maintenance too (that went over like a lead balloon). Took her car shopping and she bought one. After two crumbled fenders, bent rear bumper along with the trunk lid and a dent in the front you can't see (I've never did figure that one out), bless her heart, her pocket was hit hard enough that she hasn't hit anything or had an accident for three years (a new record!).

Retirement is coming up. I paid the house mortgage off six years early, I'm now debt free. I'm driving a 13 year old truck (in very good condition) that has only 100,000 miles, it will last me another 15 years easy (by then I'll be old enough for the kids to take my driver's license away from me). At supper I ask the wife what she is planing on using for income when I retire? Her answer was that she thought I would take care of that. That is also when I learn that she has three credit cards which are close to being max out. Her "Business" required that she purchase $$$ amount every month to main her "franchise" which is more then she sells a month. Evidently from my facial expression she realizes I'm not happy, "Guess I'll have to work forever and not ever be able to retire", she pouts. "That is your choice", was my reply. Last year wife had some major medical problems and that is when she learn about my Health Savings account, she was relieved that she didn't have to pay the co-pay, that I would take it out of the HSA. Then she came up with the idea she could save "her" money by using the HSA for her contacts, over the counter meds, prescriptions and...I said no. That money is for when we are on Medicare and retired.

Wife is planning on paying off all of her credit cards debt by the end of 2018. Update, now it's by the end of 2019. No I'm not holding my breath.

Cousin of one of the wife's friends is working towards a college scholarship by selling kitchen knives (sounds fishy to me). Friend tells the wife not to be pressured to buy, cousin gets some credit for making the sales speech. Wife ends up charging $200 to her CC for knives that she doesn't need. Wife said they will be future gifts. When I ask how did that CC charge help her with her goal of paying them off by the end of the year, I get the deer in the headlights look.

Now that my blood pressure is up several points for writing this...think I'll click "Post Reply" and go work on a SHTF story for the Library.
It is interesting to me to hear people talk about finances. Some people really get it, how to save, don't buy things they do not need, no debt, living frugally. The people I hear complain the most about money are the people who have to have the latest and the greatest. I know many people who do not own their own home, never have, never will. But! They have much nicer cars than I do, newer clothes, on and on. Financial literacy is sadly lacking for many people. Some people grew up always getting what they wanted, or being well taken care of. I once read that it is easier to move up financially than it is to move down. Many Americans have huge debt because they have a standard that they are used to living at, and have no idea that they do not need two Starbucks a day, or a new car, or to spend $100 on a new hair-do. The same is true of food. Many people eat out frequently, some every meal. Other things that have gotten beyond ridiculous are the birthday parties that cost $100's or $1,000's; the concerts that people go to ($$$); the gaming devices; traveling and vacations; the lifestyle of going out and partying.

A young family from my hometown had a farm. They had a very nice, new home built. They traveled to Europe with the family. And then they had crop failure and lost everything, except the memories.

Some people could make many times what many of us make, and will always be poor and in debt.
 
I have to say @Weedygarden I just could not live a life of always being in debt. I had family who ran debt up in my name and caused damage to my house and DH and I paid all of it and repaired the house which was a substantial amount of money.

Fast forward and law suits with sons taking legal action against me and getting my house ( getting their grandfathers portion of the mortgage through a deceased estate) didn't get them far and brothers fought over the house and sold it, one owing the other $169000 for his split. Their grandfather and grandmother who paid all their bills for them are, not sure, passed away or in an aged care facility so no more financial lifeline for them as they have sold their home too to enter aged care. They eat takeaway at every meal, are both on heavy drugs, are violent and never cook and have no budget. I imagine after court cases against each other and no financial lifeline they are both broke and in debt and wondering where Mum is and I don't care (took me a long time to get to a happy place with this and many tears over their betrayal). Karma I believe has run it's wonderful course :) in that they reaped what they sowed for others.

By the way I paid cash for the house when my father in law sold my business and purchased my home with the proceeds but come time my so called family pulled in the mortgage I had no proof of my business sale money's going into the purchase of the property as my father in law had all the paperwork. The mortgage was supposed to safeguard me should my ex husband persue the house through divorce proceedings. Note never trust anyone with your finances or property purchases and I was stupidly young and naive.

Best thing I ever did was move away and not let them know where we are. Now it is time for us as a husband and wife to make a good life for ourselves in our newly purchased home and finally have peace.
 
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I have paid off my third home. This one only took me three years and the interest that I saved, rather than paying interest for another 17 years, is considerable. Through all these purchases and years I have always had an emergency fund large enough to pay all my bills for at least 6 month. This came in handy when I was sick and couldn't work for 8 0r 9 months. I had heat and lights. I thought I had enough food in the cupboard, but I had less than I wanted. Paying off your debt is important but not more important than having and emergency fund, it could save everything.
 
I have to say @Weedygarden I just could not live a life of always being in debt. I had family who ran debt up in my name and caused damage to my house and DH and I paid all of it and repaired the house which was a substantial amount of money.

Fast forward and law suits with sons taking legal action against me and getting my house ( getting their grandfathers portion of the mortgage through a deceased estate) didn't get them far and brothers fought over the house and sold it, one owing the other $169000 for his split. Their grandfather and grandmother who paid all their bills for them are, not sure, passed away or in an aged care facility so no more financial lifeline for them as they have sold their home too to enter aged care. They eat takeaway at every meal, are both on heavy drugs, are violent and never cook and have no budget. I imagine after court cases against each other and no financial lifeline they are both broke and in debt and wondering where Mum is and I don't care (took me a long time to get to a happy place with this and many tears over their betrayal). Karma I believe has run it's wonderful course :) in that they reaped what they sowed for others.

By the way I paid cash for the house when my father in law sold my business and purchased my home with the proceeds but come time my so called family pulled in the mortgage I had no proof of my business sale money's going into the purchase of the property as my father in law had all the paperwork. The mortgage was supposed to safeguard me should my ex husband pursue the house through divorce proceedings. Note never trust anyone with your finances or property purchases and I was stupidly young and naive.

Best thing I ever did was move away and not let them know where we are. Now it is time for us as a husband and wife to make a good life for ourselves in our newly purchased home and finally have peace.
Wow, Sewing, you have had some experiences! It never ceases to amaze me how people in families treat or rather, mistreat each other, especially parents and children, over money. Money makes some people act crazy.

While losing both of my parents as a child was rough, as I get older, I get that now, after all of these years, there are some blessings in that. I do not have to deal with my two narcissistic siblings and other dysfunctional sibling over their estate. The estate was gone when I was six years old.

An estate lawyer told me that it is a daily deal for some client or clients, one or more family members to want the share of the estate of other family members, to cut them out of the will. I personally know a woman who wanted her dad's house and for her brothers to be cut out. They went to the lawyer and the lawyer looked at her and told her she couldn't be there if that was what was happening in the will. She did it. Her brothers got nothing.

Re: Never trusting others with your finances: I am aware that many people want someone else to sign for a loan on something because they do not have good credit. I always say, if they didn't care about their own credit, they really will not care about yours! I have seen this happen to people I know.
 
Yes you are right @Weedygarden people do get crazy over money and will settlements are a classic example. I signed the house over to them rather than go to court and fight over it which would have cost $100 000 in legal fees and given me a 50 % chance of winning, they were trying to sue me for 1.58 million dollars and only got the house in the end. I had moved away by that stage and they didn't know where I was to serve papers on me anyway. My credit rating was intact at the end of it. It was worth it to be rid of them all.

Here I would say to everyone make sure you have an airtight will so there are not squabbles over assets once you are gone.

As the saying says "what doesn't kill you makes you stronger" and in our case it has done just that. We have happily and peacefully moved on with our lives and have a wonderful new to us home.

I have a close friend who went guarantor on a bank loan on a house for her son and he didn't pay it and she lost her home because the banks sold it out from under her to pay her son's debt.
 
Good on you @Caribou that is the way to do it and we also have a substantial emergency fund as a back up too. I think it just makes life more secure and peaceful knowing you have an emergency fund when and if problems arise. Likewise we are aiming to pay this home off in ten years or under saving a mound of bank interest charges.
 

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