My favorite comfort food is stuffing! I love it on Thanksgiving because I never eat it any other time. I have read the ingredients and I can't bring myself to eat it more than once a year.
I am a wetlands biologist in Louisiana, and I love that my job is different every day. Some days I am in the office, but other days I get to ride out in the boats collecting data. It's the best job ever!
What I love most about my job is the people I work with! I manage condos and I get to work with amazing co-workers, owners and guests. I get to meet people from all over the world and learn about them and their families. Makes coming to work everyday great.
There are so many great things about my job that it's hard to pick just one. My number one great thing about my job is that I feel valued--people take my ideas seriously and come to me for advice or information about projects. It's a great place to be!
I love that I'm actually being paid enough that I can afford my student loans. I love that even though I work only part-time, I'm eligible for benefits (affording them is another story since student loans own my life). I love that it's a much shorter commute than was my previous job, and I can work as many hours but in fewer days so I have to drive even less! Sooo much to love about my new job!
I love that it's close to home (<4 miles). I also like the fact that I'm allowed to work at my own pace, and that it's not so busy that I face continuous interruption. I also like the fact that I can wear jeans and listen to the radio. It's little things like this that keep away the stress.
I was in a job where the boss was extremely unethical, stealing tens of thousands of dollars from clients. I quit, and found a much better job, where there is a huge emphasis on doing the right thing. They do the right thing by their customers and by their employees. It seems counter intuitive, but I've learned that if you put making money above your integrity, you may make money in the short term, but it's not sustainable. If you keep your integrity, you may not make as much money right away, but it pays off in the long run.
This reminds me of a story about my grandfather, who raised cattle. Before taking the cattle to auction, it was common practice to not feed them, and fill them up on water. This made the cattle heavier, meaning they could get a better price. My grandfather, on the other hand, refused to do this, making sure they were well fed, and well taken care of. This meant his cattle consistently weighed less than every one else's. But, when his cattle came up to auction, the auctioneer would pause, say who they came from, and the price would suddenly sky rocket. The buyers knew that while they were lighter, they were healthier, and would taste better.
The flexibility in my time since I am self-employed, working from home. If the kids have a doctor's appointment or a school field trip or anything else that happens during the 9-5 shift, I can attend and make up work during early morning/later evening hours. It's a trade-off because I still have to do the work at some point, but I can also be available to my kids.
Thanks Meg -- you can tweak the resume for each job as you go along or create distinct versions in sync with one or two desired fields before you start your search (and try to avoid tweaking for individual jobs). In some cases, after a six-month search, people find that an industry or field has few openings so it makes sense to re-do the resume (or certain portions) to fit a completely new field.
You make an excellent point in regard to freelance gigs, especially if you handle various types of positions -- you could definitely move things around, revise wording, etc. to showcase certain skills and experiences.
Hi Paul, sorry to be slow in getting back to you. I am not great at guessing the answer but know how to run the numbers. Before you commit to anything, it would make sense for you to look at an amortization schedule comparing your present situation to different scenarios.
But in general, the 5/2 may not be a great idea for you because you can't be certain what the interest rate will be when you refinance; obviously if rates increase a lot, then you may not be able to afford the payment. If you kept up the current rate of payments, you would still have a balance of about 170K at the end of 5 years (I might recommend that route if you could pay off the loan in 5 years time though).
The other options to refinance to either a 15 or 30 year loan would be good ones, if you could get a low rate like 3% or 3.75%. You could still pay aggressively (making the $800 payment every other month) but with the lower rates you could pay off the loan in a bit less than 15 years for the 15-year loan and about 16 years for the 30 year loan.
When your income drops, however, it may be difficult to pay the mortgage but that should be more doable with the 30-year loan; of course, then you wouldn't be able to pay extra so your loan payoff will be extended. So, it looks like you may need to find a way to replace that income between now and 11 years. Rather than paying off the loan, you may need to set aside money so that you can make the monthly payment.
So, it looks like refinancing to a lower rate makes sense. But take a look at David's article on refinancing:
I'm a vegetarian, so for me, Thanksgiving is all about the side dishes. And my favorite comfort food out of all of them, are the mashed potatoes. It wouldn't be Thanksgiving without them.
I like that I work with people who need my assistance, at a community college. I saw what a difference my mom's education made in our family's life and am glad to help others improve their lives in the same way.
So glad I made the switch from plastic to reusable. I got tired of emptying my trash can every few days because of the massive amount of plastic water bottles occupying it. Finally found a glass water bottle that doesn't end up in my kitchen cupboard after a few months. Love my Rive bottle :)
I love that I have a great boss who when I need to allows me to bring my kid(s) to work so that I can still get my job done yet not have to stress when my babysitter backs out!
I left Chase within the last month to re-activate my credit union accounts. When I closed my accounts, I informed the Chase representative that it was because of the fees being "test marketed", which I was certain would be rolled out eventually. He was unsurprised at my reason, and attempted to reassure me that the decision had already been made not to charge the fees. Being cynical about large banks, I closed my accounts anyway.
The change was very easy, setting up bill pay through my credit union only required adding my account numbers, as all of the information for the various vendors was already in their database. 20 minutes and done!! Most credit unions are on the co-op system, so you can use any of them and pay no fees, so that makes them even more convenient than a big bank.
I've been disabled for the past decade so I don't have a paying job. I love the fact that my time is now my own to do with as I please. I miss the money but relish my freedom even more.
My favorite comfort food is stuffing! I love it on Thanksgiving because I never eat it any other time. I have read the ingredients and I can't bring myself to eat it more than once a year.
I am a wetlands biologist in Louisiana, and I love that my job is different every day. Some days I am in the office, but other days I get to ride out in the boats collecting data. It's the best job ever!
What I love most about my job is the people I work with! I manage condos and I get to work with amazing co-workers, owners and guests. I get to meet people from all over the world and learn about them and their families. Makes coming to work everyday great.
I work at the Girls and Boys Club as an education assistant/ tutor. It's a wonderful feeling to help children learn new things.
I liked Wisebread on Facebook!
I really enjoy my co-workers but I hate the lack of trust I am given in my job.
There are so many great things about my job that it's hard to pick just one. My number one great thing about my job is that I feel valued--people take my ideas seriously and come to me for advice or information about projects. It's a great place to be!
I love that I'm actually being paid enough that I can afford my student loans. I love that even though I work only part-time, I'm eligible for benefits (affording them is another story since student loans own my life). I love that it's a much shorter commute than was my previous job, and I can work as many hours but in fewer days so I have to drive even less! Sooo much to love about my new job!
I love that it's close to home (<4 miles). I also like the fact that I'm allowed to work at my own pace, and that it's not so busy that I face continuous interruption. I also like the fact that I can wear jeans and listen to the radio. It's little things like this that keep away the stress.
I was in a job where the boss was extremely unethical, stealing tens of thousands of dollars from clients. I quit, and found a much better job, where there is a huge emphasis on doing the right thing. They do the right thing by their customers and by their employees. It seems counter intuitive, but I've learned that if you put making money above your integrity, you may make money in the short term, but it's not sustainable. If you keep your integrity, you may not make as much money right away, but it pays off in the long run.
This reminds me of a story about my grandfather, who raised cattle. Before taking the cattle to auction, it was common practice to not feed them, and fill them up on water. This made the cattle heavier, meaning they could get a better price. My grandfather, on the other hand, refused to do this, making sure they were well fed, and well taken care of. This meant his cattle consistently weighed less than every one else's. But, when his cattle came up to auction, the auctioneer would pause, say who they came from, and the price would suddenly sky rocket. The buyers knew that while they were lighter, they were healthier, and would taste better.
The flexibility in my time since I am self-employed, working from home. If the kids have a doctor's appointment or a school field trip or anything else that happens during the 9-5 shift, I can attend and make up work during early morning/later evening hours. It's a trade-off because I still have to do the work at some point, but I can also be available to my kids.
Thanks Meg -- you can tweak the resume for each job as you go along or create distinct versions in sync with one or two desired fields before you start your search (and try to avoid tweaking for individual jobs). In some cases, after a six-month search, people find that an industry or field has few openings so it makes sense to re-do the resume (or certain portions) to fit a completely new field.
You make an excellent point in regard to freelance gigs, especially if you handle various types of positions -- you could definitely move things around, revise wording, etc. to showcase certain skills and experiences.
Some really nice people that I work with.
Hi Paul, sorry to be slow in getting back to you. I am not great at guessing the answer but know how to run the numbers. Before you commit to anything, it would make sense for you to look at an amortization schedule comparing your present situation to different scenarios.
But in general, the 5/2 may not be a great idea for you because you can't be certain what the interest rate will be when you refinance; obviously if rates increase a lot, then you may not be able to afford the payment. If you kept up the current rate of payments, you would still have a balance of about 170K at the end of 5 years (I might recommend that route if you could pay off the loan in 5 years time though).
The other options to refinance to either a 15 or 30 year loan would be good ones, if you could get a low rate like 3% or 3.75%. You could still pay aggressively (making the $800 payment every other month) but with the lower rates you could pay off the loan in a bit less than 15 years for the 15-year loan and about 16 years for the 30 year loan.
When your income drops, however, it may be difficult to pay the mortgage but that should be more doable with the 30-year loan; of course, then you wouldn't be able to pay extra so your loan payoff will be extended. So, it looks like you may need to find a way to replace that income between now and 11 years. Rather than paying off the loan, you may need to set aside money so that you can make the monthly payment.
So, it looks like refinancing to a lower rate makes sense. But take a look at David's article on refinancing:
http://www.wisebread.com/3-hidden-dangers-of-refinancing-your-mortgage
I'm a vegetarian, so for me, Thanksgiving is all about the side dishes. And my favorite comfort food out of all of them, are the mashed potatoes. It wouldn't be Thanksgiving without them.
I like that I work with people who need my assistance, at a community college. I saw what a difference my mom's education made in our family's life and am glad to help others improve their lives in the same way.
So glad I made the switch from plastic to reusable. I got tired of emptying my trash can every few days because of the massive amount of plastic water bottles occupying it. Finally found a glass water bottle that doesn't end up in my kitchen cupboard after a few months. Love my Rive bottle :)
I love that I have a great boss who when I need to allows me to bring my kid(s) to work so that I can still get my job done yet not have to stress when my babysitter backs out!
I tweeted! http://twitter.com/#!/junethomemaker/status/133990629293297664
I liked you on Facebook!
I love that I can leave my job at work - it's not so emotionally intensive that I have to think about it at home.
my coworkers and our great customers!
I teach mostly online, and I love the flexibility.
I left Chase within the last month to re-activate my credit union accounts. When I closed my accounts, I informed the Chase representative that it was because of the fees being "test marketed", which I was certain would be rolled out eventually. He was unsurprised at my reason, and attempted to reassure me that the decision had already been made not to charge the fees. Being cynical about large banks, I closed my accounts anyway.
The change was very easy, setting up bill pay through my credit union only required adding my account numbers, as all of the information for the various vendors was already in their database. 20 minutes and done!! Most credit unions are on the co-op system, so you can use any of them and pay no fees, so that makes them even more convenient than a big bank.
I've been disabled for the past decade so I don't have a paying job. I love the fact that my time is now my own to do with as I please. I miss the money but relish my freedom even more.