We moved back in with the rents...

As promised, I am finding myself with more than enough time to blog now that things are winding down at work, and lets face it, with a baby coming tomorrow I could use the distraction. So I will continue my blog from yesterday and elaborate a little bit on our seemingly pathetic housing situation. It is true, we have moved back in with my parents. I never in a million years expected to see myself doing this, but honestly, it is not as bad as it may seem.

We made the decision after taking Financial Peace University, that we wanted to sort of recession proof our families finances. Especially having made the decision for me to cut back on my end of our income. So according to this class we took, the best thing to do is to:

1. Establish a $1000 emergency fund
2. Pay off all your debts

Believe it or not step 1 was relatively easy to accomplish. We had that completed in just a few weeks. The next step however has been the difficult one. We were not in that much debt, but enough that this step has been immensely tiring. We are ready to move on to the next...to start building wealth...and to stop waiting to get into a new house! SO we made the decision to try to sell our humble abode in this horrible economy, and downsize to a rental on a temporary basis in order to finish paying off our debt.

Little did we know, the economy was a little worse than we had bargained for. All the realtors we spoke with insisted that we would have to take a rather large loss on our home in order to get it sold. So in light of that information we started preparation to rent it. With in two weeks of making this decision we found a renter in our church, who was a perfect fit. The only catch was that she needed the house in 2 weeks. So the frantic packing and decision making began. My parents were kind enough to offer their finished basement as an option for us to move into rent free while we figured everything out. That's right folks....I said rent free.

And so, the decision was made. We moved into my parents house, and somewhat settled in. I say somewhat because as soon as we got there, they made the decision to put in hardwood floors, and renovate their kitchen, so we are as settled as you can call living in a construction zone. But again, it is rent free, and my mom does all my laundry, so at the end of the day, and with baby # 2 coming we think this will work out just fine for us.

Again, I know it sounds pathetic moving back in with good ol Mom and Dad, but it will be nice to have the help, and it is nice to not have any payments. We are on track to be completely debt free by January 1, 2010 speeding up the process by approx. a year. At that point we will start looking for the perfect next landing place for our little family.