Tuesday, September 21, 2010

Spending Money on the House

Last week, I went ahead with our plan to replace another set of windows on the house. When we started replacing the windows 2 years ago, we decided to go with a gradual approach based on the amount of cash we could afford to pay each year for those renovations instead of using the line of credit or another form of financing to replace them all at once.

So before winter we will have new windows for the 3 upstair bedrooms. This will be good for 2 reasons. First, as a quality of life issue for Princess, as the old windows were very hard for her to open and close (they were heavy and would often stick). Second, the new windows will be provide much better insulation, so this should save us some money on heating.

Still, this is a fairly big expense at slightly over $3 000, so in order to have the cash available to pay for the windows I will cut back on my monthly DRiP purchases. This means I won't reach my stated goal of dividend income for the year, but I can live with that.

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