Meeting Milestones (Permanent Residency & Debt Free!)

Hey readers! It’s been a while, but a lot has happened in a short time span and we are keen to share some news with you. First up – Immigration New Zealand approved our Permanent Residency application! Now that we are Permanent Residents, we can exit and reenter the country without having to apply for travel dates or, if outside our travel dates, additional visas. This is HUGE. And we are so thankful that although long, the process was relatively easy to navigate.

Our immigration advisors, New Zealand Shores, did most of the work for us at no extra cost (to what we paid them in 2019 to start the whole process). I know what you’re probably thinking, “The next logical step is Citizenship. How exciting!” But that would require us to revoke our US Citizenship. Not so exciting. We aren’t even eligible for Citizenship for another three years. Regardless, it’s something we can take as much time as we need to ponder. We may decide not to become Citizens – we’ll just have to cross that bridge when we get there.

Second up – we obtained IRD numbers for Jack and Diane (Blaire was automatically assigned one because she was born here). For my American readers: an IRD number is the New Zealand equivalent of the Social Security Number. The kids won’t need their IRD numbers until they’re ready to work, but I figured it’s best to be proactive. It’s one less thing we’ll have to do (or worry about) later on. Their IRD numbers came last week (woo!).

Third up – I can’t believe I actually get to say this but we are DEBT FREE! Like 100%. We don’t have a mortgage. No car payment. School loans are done and dusted. I am talking zero debt from any source! A little background on the debt we just paid off – when we moved to New Zealand, we paid off our American debt with the sale of our Pinellas Park home (our car loan, my student debt, credit cards, etc). The debt that we accrued was solely from the costs of moving, visas, and Matt’s EWRB license fees (for becoming a Qualified Electrician).

Here’s the thing: the cost of moving, although steep, was manageable when it was in USD. Unfortunately, wiring money every month to the US wasn’t feasible as it would be too time-consuming and expensive. So, we transferred our debt to The Cooperative Bank here in New Zealand. At the time that we transferred our debt over, the exchange rate was not in our favour. Because of this, what seemed like a manageable debt nearly doubled when it translated into NZD.

For the past three years since our arrival, we have worked tirelessly to get this debt paid off as quickly as possible so that we could beat the interest. And with persistence and always paying above the minimum payment no matter our circumstance, we absolutely smashed it! What seemed like a giant is now beneath our feet – we are free! It feels amazing – and coupled with becoming Permanent Residents, we couldn’t be happier with the timing of things.

So, what’s next? Yup – fair question. We have set six savings goals that we will endeavour to achieve, one by one. I considered setting one big savings goal, but I knew it wouldn’t be motivating. Setting smaller goals makes saving feel more easily attainable. Eventually, as we hit little goals, we will build up to our big goals. With the loan payment out of our lives forever, we will divert that payment into our savings on the same schedule. We are also focusing on building our KiwiSaver accounts and our investment portfolio.

So, what are we saving for? 1. We want to have 6 months’ worth of expenses in savings as a cushion and 2. We want to purchase land and build a house. The real estate market here isn’t buyer friendly, but according to recent news supply is going up and prices are starting to drop. Some people are suspecting a recession – but I guess we’ll see what happens in the coming months. Either way – we are very excited about what’s coming ahead!

In other news, Jack has started winter hockey and Diane has started dance. I am only a few months away from resuming my role as Office Manager, which means I will need to start transitioning Blaire to kindy soon. Matt is enjoying his job as usual and is gaining valuable experience. We have been a busy family this year in particular, so time is absolutely just flying by. I can’t believe the year is half done! And most exciting, New Zealand’s borders are opening up fully in August. You can visit us! We do hope to see our family soon.

We’ve had an eventful year so far and are so excited for this next season of our lives of being debt free and working towards owning our own land and house (ideally, livestock too!). Regardless of our finances (debt or not), God has consistently provided for all our needs and I know He will continue to do so. I might do a separate post on this topic alone, just because we have seen provision in so many cool and unexpected ways since our move to New Zealand.

Until Next Time,

The Cullums