Long time no post. It’s been a difficult time with unexpected expenses completely killing the budget. I had reached a point where any planning at all seemed pointless. There was so much uncertainty that I truly feared looking at my account balance.
I would like to say that things are much better now, but the wounds are still fresh. It will take six months to a year to recover in terms of finances. Silver lining, I still made rent and paid off my bills. We have enough to buy basic groceries, so nobody is starving… yet.
But the fear is still there. Right now, finances are fragile. I can’t take another attack. There are so many things that I’ve just kept on hold. We need to move soon, furniture that’s falling apart needs to be replaced, all the while it feels like I’m paying a bill a day.
My financial goals are simple. Get an emergency fund set up (my first priority), get medical insurance (my workplace provides coverage only above a certain pay grade), and get the down payment ready to buy my own house. I currently live on rent, which would have been okay except that tenants don’t get any security. We have to be very careful not to break any written or unwritten rules to avoid eviction. And even then, there is a chance that the landlord can just give a month’s notice and ask us to pack up and leave. (This has happened to me already) In addition, every time I rent a new place, or renew my contract, I have to pay government fees and brokerage (a month’s rent extra).
Renting has become a huge drain on finances and I want to get out of it as soon as I can. Currently, it will take about 5 years to get the down payment for a flat in an accessible part of the city. It is virtually impossible to buy a house entirely out of savings so there’s a big loan in the future. My credit rating is good so far so that shouldn’t be a problem.
So right now, one day at a time, I’m floating along. Hoping that I only encounter smooth water for a while. If I can, I’ll use this platform to track my progress on my first financial goal – building an emergency fund of 2 lakh rupees.
The Getaway Bicycle 