Pay as much of the house as quickly as we can whilst doing minor reno's along the way (ie painting, landscaping etc). We'd eventually need another bedroom so would either like to buy a bigger house or build preferably a bit closer to the city so DH can cycle to work more than once a week.
We'd also like to upgrade the car and don't really want to take out a loan so are also saving for that.
Ours are to save save save and get the backyard finished. We mostly just want to build on our nest egg so when I do fall preggers, we have something to fall back on
To give our children the best quality education we can afford. So far we have spent well over 100K on this... and that's just for our first child... we have 2 more.
A possible second priority is for me to return to uni.
After a good education everything else falls into place.
We rent. We don't want a mortgage... at this stage of our life that would mean we couldn't fulfill our first priority.
Our financial goal is to pay off our mortgage while at the same time buy a second property to renovate. DH is a builder without the quaification who can turn his hand to anything renovation-like, so we would be silly to not capitalise on my ability to service a bigger mortgage and make a profit on another property.
Like Bath, we want our kids to have access to a good education - we will do that by moving to an area with better state schools (one near us is Carl Williams' alma mater, so that pretty well sums this area up as far as I am concerned LOL!)
I think I will always want to work so for me its just about using our money in the most sensible way.
Great thread!
The option of secondary private school education for our kiddlie winks is our goal if that fits and is suitable to each child by that time.
Have just done some projections of what it is likely to cost per annum by the time each child hits year 7, the first in 2018. Bowel loosening stuff!
It's going to be tough and require us both to work hard to earn income and to subsequently invest smartly along the way.
So we are still plotting the best way forward.
It is very satisfying to finally reach your goals. We just paid out our mortgage whilst living frugally and going without certain luxuries whilst living on one income over the last few years. It was a very satisfying moment indeed. Also made us enjoy the money we did splurge a great deal more!
DH and I decided last night that if/when I am on mat leave with baby #3, we will take all 3 kids on a 3 month-long tour of eastern Australia (Melbourne-Flinders Ranges-Alice Springs-FNQ-Northern NSW-Melbourne). Now to start saving!!!
Better hurry up and TTC - optimum time to do this trip would be July-Sept next year
Oooh how exciting Rory! Start a thread about it in the travel and holidays section! I terms of a financial priority, I too agree that travel is way above and beyond most material priorities for us eg a flat screen TV. If I had $5000 to spend it would be the beginnings of a trip to Europe.
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I terms of a financial priority, I too agree that travel is way above and beyond most material priorities for us eg a flat screen TV. If I had $5000 to spend it would be the beginnings of a trip to Europe.
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