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When new plans go up the spout

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Feb. 13th, 2014 | 12:50 pm

Well the new year started off pretty good: we had the trip booked, we were looking at getting our backyard landscaped and everything was cruising along well.

Until last Monday when THAT announcement was made.

Now that Toyota is closing in three years, Lynne and I have had to reassess our plans accordingly. To start with I work in head office not manufacturing so I'm not directly impacted, but I have no idea what the flow on effect will be so we have to take everything into consideration.

To start with we've cancelled our Vanuatu cruise in October to save the $$$, however, to make matters worse we've received a quote from our landscaper to do our backyard and it's thousands more than we expected - but we have to get it done as I'm not keen to compromise by getting a cheaper alternative. So as a result we may redirect those funds to get that work completed though it will be a major financial hit to the savings.

Once the backyard is done, we'll do a big push to lower the mortgage as much as possible just in case I'm made redundant or if we reach a worst case scenario.

So what is the worst case scenario? If I'm made redundant from Toyota - or take a package - and can't find employment and we still have the mortgage (acknowledging that a redundancy payout would go directly to the loan), we'd be forced to sell the house with the hope being that the selling price would pay for the balance of the remaining loan and allow us to buy a cheaper place outright so we would end up debt free. It's not an ideal situation but it's one we have to be mindful of.

For now though we'll just keep an eye on things and see how we go. Fortunately aside from the mortgage we have no other major expenses and if we can get the backyard done it'll mean The Dag House will be finished (who would've thought it possible).

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Comments {1}

Miss Margaret

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from: missmargaret
date: Feb. 24th, 2014 10:52 am (UTC)

Of course on the 14th we finally received plans for our building project. It would be nice to have it built before Andreas gets the boot!

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