Financial freedom – are we there yet?

7/21/18

 

Financial freedom – are we there yet?  Oh, certainly not! We’re getting there though. 

 

Starting our homestead, it is very important to us that we work diligently to stay focused and on our course to become debt free.  A simple homestead does not deliver a huge income... in many cases, a homestead doesn't deliver any income at all.  Just the ability to work very hard to spend less.  Producing our own food and other resources is not just a perk of working as hard as we do, but a necessity. 

 

We still work our full time jobs though.  We have a goal to be debt free, and our jobs are helping us get to this goal. 

We have been debt free once before, and let me tell you (for those of you that have never experienced it), it is ABSOLUTELY LIBERATING! 

 

“What happened” you ask?  Life, of course.  Now, we could have gone about it differently – but we didn’t.  We became debt free for a reason, and using that freedom afforded us the ability to buy our current house with cash.  However, the move from Texas to the Carolinas and the remodel we have been undergoing, brings in debts as you can imagine.  Especially when the need for an entirely new HVAC unit, including all new duct work, comes into the picture.  We could have waited, saved up, and paid cash… but I am very much a wimp when it comes to summer and heat. 

Like I said though, we are almost there (again).  The cars are all paid for and we own our home outright.  Not to shabby… but credit cards and loans for home repairs add up quicker and higher than you realize.

 

My advice: Keep track of all your expenditures.  Pay cash as often as possible. Anything you do charge, try to pay off before interest is charged.  If facing what seems to be an insurmountable amount of debt: learn to love snow.  The snowball method that is.  Dave Ramsey was one of the best methods I ever followed, and it works! 

You can read about it here: 

https://www.daveramsey.com/blog/how-the-debt-snowball-method-works

 

Be diligent, stay focused, and don’t veer from the plan.  Before you know it you will be loving the freedom that comes with being debt free. 

And, IF you find yourself back in debt again – write your debts out and start another plan.

If you have any questions, or additional tips and tricks - please feel free to reach out to us and let us know.

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