Sale season is upon us, but I haven't burned my credit card in Zara and Mango as I normally would for the simple reason that we have a goal.
The goal is to move to a bigger house in 2-3 years time. For G that house should have a garage where he can tinker with his automotive project du jour. And for me, that house should have lots of natural light (for product shots) and cross ventilation.
Notice that I didn't say a house with a pool, tennis court or a sun room, because we simply don't roll that way. Besides, the budget that we have in mind will definitely not cover those.
Right now, we're on the right track because the condo we're living in can be flipped to cover almost 60% to 70% of our house budget. However, we'll have to pay off the mortgage before we can sell the condo, so we'll only have 40% to 50% to put towards our new house. That's why even with the condo, we still have to come up with a sizeable amount to at least cover the 20% equity.
And that's where saving and investing come in. With this goal in mind, I actually don't feel deprived even without new clothes or shoes. Imagine that.