Navigating Differences in Financial Goals: Is Your Home Tying You Down?

My wife and I are. We’re not on the same page about something we wanted to get your take on. Perfect. We’re the perfect people to ask. Can we? Rachel and I agree on everything, Chuck. So we got you. Ha, ha, ha. Cool. Okay. So, um, anyway, my wife Jamie and I, we’ve been working the steps. We finished, uh, step two. Congratulations. Step free. Yeah. Yeah, we paid off about $40,000. Good for your guys. Awesome. Yeah. But anyway, the dilemma is, my wife and I have different views on. On what to do next after we build the emergency fund. She would like to, um, start looking for houses. Sell our house, um, and downsize, you know, buy something that we can afford, obviously, and have a lesser mortgage. But have a mortgage. And my thought is, I really. I really dig the idea of being, like, just hammering away at the house we live in and. And having it paid off. I’m not sure how long that would take. Maybe two, three years. Um, and then having all that money afterwards to go buy whatever else we want, you know? And I don’t know. I’m not. My wife’s super smart. She’s super efficient, you know? I love her. Um, and I’m not trying to win, because I know at the end of the day, I probably wouldn’t win. I think I won, but I didn’t win. Okay. I just wanna hear from you guys what you Think. Yeah. Okay. Tell me. Your current house, um, how much you guys owe on it? Uh, we owe 148,000 on the house. 1:48. How much is it worth? It’s worth about 3:53. Sixty. Okay. Could be worth more, I’m not sure. Yeah. And how much, uh, do you guys make a year? 132,000. One, 32. Okay. And her big reason to sell the house is? What’s her number one reason? She just wants to get out of debt that much faster. She doesn’t like the house. Why? Does she wanna move? No, she loves the house. It. It’s bigger than she would like. Uh, she would like less cleaning. I mean, we both clean, but she does, you know, more, um, just because I’m out. Out in the field a lot. Working. Yeah. And not in the field, but, you know, out, out and about and. Yeah, she’s. She said we have less. We’d have less to pay off if we. You know, cause we’re gonna. We’d make some money off the house, and we’d have less. We’d have less of a mortgage. We’d have a mortgage, but less of a mortgage. She’s. She’s right on that. So, like, your idea of, I wanna pay off, be debt free, and not owe anybody anything is noble. That’s awesome. And she’s trying to tell you, hey, wait, I could expedite that. And so it doesn’t sound like the money is the issue. It sounds like you love your house. I Do. It’s a great house. I mean. And the truth is, I. We moved from this house. We lived in a house I. I had two daughters I raised on my own for a long time, and we had about 900 square feet, and we moved to a house that’s really nice and big, so it is. Excuse me. It’s a little emotional for me. Yeah. Hmm. Is this. This house is the signal to the world that you made it. You. You bounce back. Is that right? Right, right, right, right. And you have your wife, who you love, telling you, hey, honey, I love you. Okay. We made it. Yeah. Let’s go be free together. Yeah. Yeah. That’s it. I mean, that’s it. And I know we’d land on our feet wherever we were, wherever we end up, I know we’d be okay, um, together. Um. But it’s hard for me. Okay. So that’s really the big question is what. Why this house plays such a role for you. I mean, it does for. For many reasons. Yeah, right. Yeah, right. So how much of, like, Chuck’s identity would just die a little bit if you guys move to a smaller home? Like, what does that just do to you? Hmm? Good question. Uh, yeah, I mean, I. I just think it. I think it would just be a little ego deflating when I called a sign. Like, we’re okay. Yeah. Yeah. We’re actually gonna be debt Free. Completely. Like, you guys aren’t in a dire situation. You don’t have to sell it, right? So if you guys keep it. No, no, no. You can. Yeah, you can pay it off. Your wife’s like, hey, we. I don’t really want this big of a house. All of this. So it’s more of your reasons of why. And if your reason of why is staying, because it’s just unhealthy, and Chuck wants to feel like, oh, my gosh, I’ve made it, that’s not a reason to stay. And if she’s exhausted from cleaning it, it’s too big. She’s like, we can downsize and be so happy. It’d be a challenge for you, but I think it’s more of an emotional play than a money play. Either way, you guys are fine. You’re great. You’re great. You’re fine. Stay in the house, financially, you’re fine. Move financially, you’re fine. You’re fine. But it’s more of a question of why. Why are we staying? And the why is not sounding like the healthy. Unhook yourself from those extrinsic markers, man. They don’t matter. Thanks for calling, Chuck.