Life Is Like A No-See-Um

Ann Larkin Deluce

Life is like a no-see-um. This occurred to me as I sat in Toronto and watched the little red bites appear a few days after a New Year’s party in Florida. As the kids would say, “What’s with that?” After some cooler days December 31st proved to be a beautiful night and perfect for the midnight celebratory firework display. Sure the little bugs were out but I had no idea that the fruits of their labour would follow me home and be that gift that keeps on giving and not in a good way. Just as we make New Year’s resolutions with the best of intentions, we have to be prepared for the no-see-um events that will pop up unexpectedly along the way and interfere with our goals. One thing concerns me in particular and that is the lure and seduction of low mortgage rates. Many 28 to 34 year olds have been working for awhile, are married and thinking of buying their first house. Often they borrow money from their Boomer parents, combine it with their own and take out a mortgage for the balance. Unlike their parents, they themselves tend to have limited savings and could be headed down a difficult path. If the mortgage rates go up-which experts agree will eventually happen- then their monthly payments will also increase. If for some reason one or the other can not work or God forbid loses their job then the situation will become untenable. The parents/in laws who helped with the initial down payment are at an age where they have probably saved enough to take them comfortably and safely through retirement. It would be unlikely that they could again help their children in a significant way monetarily. So, what can you do? Well, one of the best ways is to follow the old saying ‘A penny saved is a penny earned’. It sounds simplistic but money can be earned by entertaining at home or walking instead of driving whenever possible. Exchange books and magazines rather than buy them or have a pseudo-designer clothing exchange night. Imagine having a new wardrobe without having to pay for it other than by bringing perfectly good clothes you yourself are tired of wearing. Seriously though, everyone deserves to have a brand new home to call their own and with good planning both short and long term, it can happen.