Day one

Day one actually started on New Year's day, but this new year resolution was not going to be like any other and last a couple of days. Loads of planning and changing of mind set has gone into this "Life Changing" resolution and this is the year that my family's lives will change around financially.

You see, we've always been able to have everything we wanted(within reason), until my husband decided to have a career change at what was probably the most expensive time of our lives (in terms of children's education, mortgage etc). I agreed and increased my working hours to slightly more than full time (very possible in my profession). You see I also thought that everyone would stop spending and asking for things like they did when there were 2 good incomes in the house, but it didn't quite work that way!

So here's the situation as it stands now! $55,000 in debt + a mortgage of $332,000. My husband has 6 months from today of the final phase of his new career (then he'll have a job I hope), 1 child starting university this year and 1 child going into year 10 (private school).

At the beginning of the career change we only had a mortgage, and a credit card we payed off each month. what we lacked was the ability to say no, either to each other or the children! We had never thought of ourselves as irresponsible with money, but clearly with no set plan on paper it was never going to be easy to see exactly where we were headed. Until one day I snapped! And then it was all out! Everything I thought I had been protecting everyone from was finally out on paper!

I intend using this blog to help me stay on track and remind myself of why we as a family all need to make sacrifices. You see what I want to teach my children out of all of this also is that things don't have to cost a lot of money to make you happy! Presents don't need to be bought, they can be made with love and appreciated even more than the bought gift!

So here we go, let the recovery begin!

Martha