Home Budgeting

One of the big reasons why I have been so focused on making more money is because I want to wipe out the debt that built up on us while living in Vancouver and so far efforts to cut expenses haven’t done much to help.

Much like the recent and ongoing debate in the US on how to tackle the debt problem. At home I have been trying to solve a persistent line of credit loan that’s taking a long time to chip away at. Heather tends to think in terms of cutting expenses, and I tend to think about ways to increase revenue.

The Halotis Inc business is hopefully going to help with both. It helps me reduce personal costs because the revenue from software is going into the business which is more tax efficient and it allows me to take expenses off my personal books (things like computers, internet, and a portion of the mortgage) and move them to the business. As the business grows it will also provide some dividend income that I can use to personally pay down the debts.

However a recent look at our spending patterns reveals that we also need to cut expenses more aggressively. So we’ll be taking a good look at our accounts and cutting out as much as we can.

Unfortunately that may mean our planned camping trip in Montana in September may not happen 🙁