Just being grateful today…

glass lampwork bright round focal beadLife is good.

While my style in beads has changed dramatically again I feel that I’m back on track once again.  While these dot beads are far from simple, there is something about the fact that they’re ‘just dots’ that I need to get over.  Already though, in my normal fashion I’m being called to push it…not all funky Lori-like but adding elements slowly until before you know it, it’s something new and different.

I’m also feeling very fortunate after listening to a radio program about the housing (yes, I just typed hosing) market and mortgage business.  In some regards we live beyond our means but in other ways we live below our means.  Being self-employed, both my husband and I don’t have to dress up for people very often, although that has changed somewhat for him as he is spending more time at customer sites.  All that to say, we don’t shop for clothes on a regular basis and that’s ok by us.  Money saved there.  We also don’t overdo it with decorating our house with new furniture, rationalizing that the kids are still in the turn-your-back-and-I’ll-ruin-it stage of life.

Anyway, this program talked about the slowing of the housing boom (which hits close to home here in Arizona) and how people are either over-extended due to interest-only type loans or inflated income reporting and inflated appraisals, etc.  The bottom line is that they were told they could handle more debt than they really could and now they’re in tough situations.  I’m watching this kind of thing happen all around me here.  People who jumped on the bandwagon to buy second homes for an investment or bought bigger homes for the same reason with low interest loans that run out and now they either can’t afford them or can’t sell them for what they need to.

For the last few years my husband has wanted to invest in property or a second home to rent out and I wouldn’t have it.  Everyone wad doing it and I was a stick in themud.  My reasoning being that I didn’t want to deal with renters and didn’t have time or money to fix things that go wrong because people don’t care about rental properties.  I often wondered if I was just being an old-fashioned-earn-my-money-the-hard-way (work for it) kind of person and not seeing the progressive way of doing things.  And I wondered if I was holding us back from a great investment opportunity.  Today I’m really glad that I didn’t do what all of our friends were doing.  I’m glad we stayed put and built onto our existing home rather than moving to a new, huge, over-priced home just because we could have.

Two thumbs up to living below your means and it paying off.  My dad would be proud.

4 responses to “Just being grateful today…

  1. Lori,

    You are so right about living beLOW your means! People can’t figure how my husband is the only employed person in our 3 member family that lives in expensive California.

    Now, we live in a small condo, not a big house and we did purchase an investment property just beFORE the big real estate boom. We pay a small fee to property managers and our tenants usually stay for a year, so it has been a very good thing for us since renters are really paying the mortgage!

    But, we never buy expensive items, only what we need to buy, and then it’s usually something good and comfy, not fancy and gorgeous…enough to keep us happy.

    As my husband’s income has grown, we have even been able to pay for our child’s private college without taking out loans.

    People look at our simple little life and say “how do they have what they have on only one income…in California???!!!”

    Like Lori said, “live below your means!!!”

  2. Hi Julie.

    Comfy and happy is the way to go!

  3. Working in the Banking Industry I can absolutely agree with you here. Over here in Australia we are having a similar situation. We have had interest rates go up by about 2% in total over the last 2 years which doesnt sound a lot, but when 90% of homebuyers have totally over extended themselves to the point of barely being able to pay their own mortgage let alone cover the extra needed that the rent on the investment doesnt cover, it creates a huge impact. And the younger generation (even my generation – Im 34) just dont seem to get the whole – you cant have a mortgage and have a mega expensive lifestyle too. Add kids and they are falling to pieces. Lots of foreclosures (which banks in reality hate cause we lose money on them) which means lots of people on TV in current affairs shows whining about how the bank took away their house, but failing to mention it was because they stuffed their house with $10k sofas, dressed the kids in designer labels at age 2 and ate in restauraunts every single night.

    Sorry, this is a little bit of a soap box for me!

  4. Funny you bring that up Lisa. I almost went to that soap box but I had never experienced it personally so I thought I might be being a little tough. This show also had people that said they were told by the lenders that they could afford it so they believed them. Hmmm. I tend to know what I can afford and not…that sounds like it’s MY responsibility. But anyway…I’m not going to go there!

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