Financial Maturity (Yes We Are Moving Again)

A question many have asked me after proclaiming our Debt Free status is what are you going to do with all of that money? My first thought is all of what money? The student loan payment was only $280.61 a month. If we were to stop our plan this is all we would have added back to our monthly budget. That's not very much. As a result, we have to find money elsewhere.

Our biggest expense is our rent. I live in a building that many would agree is a really nice building. I love it. It looks more like a hotel than a rental property, and it was a great ride. See in an effort to fully gain the benefit our our new found Debt Free status, we must now become financially mature. Now, I am not saying that people who live in our building or want to live here are financially immature. In fact, I think they have made a wonderful home decision. However for us, we see it as an opportunity to find money to help us build our wealth. The maturity part comes in deciding between granite wannabe counter tops vs. actual granite counter tops, relatively new appliances vs. older appliances, tile vs. linoleum (Oh sweet Baby Jesus!), and hideous fireplaces that take up space vs. no hideous fireplaces that take up space. Sigh. We found a place. It's actually right down the street from us. It's a nice place, but it means giving up our 23rd floor view of the National Mall for a courtyard view in a garden style apartment. It's quiet, clean, and almost serene in certain parts. The problem is it's not our home; however, it helps us to walk in path of the financially mature. The apartment is $771 a month cheaper than our current apartment. That is $9,252 a year! Now, $280.61 wasn't much of an addition back to our budget but $771+$280.61=$1051.61 is. That gives us $12,619.32 a year! We found a leak, and now it's time to plug it up. Put that into an investment account at 10% (that is on the side of extreme optimism for some) for the next 40 years. Drum roll: $6.7M!!! My mind is just blown! BOOM! At 5%, which is about average, it's $1.6M. Crockpot millionaires...I'll take it. Oh imagine the good we would be able to do! Also, this is just an investment account. This doesn't include whatever other retirement/savings accounts that we will have as well. This is what financial maturity can mean for us. Our situation will probably change as I am trying to find a job that I care about which means a very probable decrease in pay, but the lifestyle change and behavior modification is the important part no matter how much money we make.    

So those are two big things that we were able to do to find this additional money. It's going to be an exciting journey to find out what small things we can change as well that can help us add to this amount. I'm just excited to see all of the things that we can do to be able to do so many wonderful things in life. Not just 40 years from now, but starting in July! This is going to be a great start to that down payment on a home, saving for a kid(s), and increasing our giving at church. Amazing. 

I am grateful for all of the many blessings that God has given us. Right now, I'm especially grateful for the ability to give up granite counter tops and a concierge for linoleum and $771 a month. I'm becoming financially mature, and I'll admit it less bougie. Linoleum is not the end of the world. Lol.   

-Debt Slayers 2013