|Next week I’m going to be doing a series on budgeting and living debt free. It’s a great way to begin the year. I’d like to start that off with a post about our debt free story. When Barry and I were first married, we started immediately using the Dave Ramsey budget. Before we got married, we took Financial Peace University together. Since then, we’ve taken it two more times and Barry teaches it. We know the method. We know money – we know budgets. It’s just something that’s in our blood. I realize that this isn’t the case for everyone, so I hope that next week will be beneficial to you all. I want to tell you how it works for us, so that you can know it IS possible to live debt free and that you CAN do it too. Next week will help you get started.
I grew up knowing about money. My parents lived debt free, so it was natural to me. If we didn’t have the money, we didn’t buy it. Credit was something other people used. They taught me the value of a dollar, and I know I will teach the same to Annie. “Debt is dumb. Cash is king!” Yes, at a young age I guess I was considered quite “tight” with my money……I’m still somewhat tight, but in a good way. I don’t go around throwing money to the wind and it sure doesn’t burn a hole in my pocket. Barry grew up the same. He was also taught how to behave with money, and I’m ever thankful. It has never been strange for Barry and me to handle money the same way. I know a lot of couples have different views about money, but we are blessed to agree with how we should handle it. We talked about the issue before we got married, so we weren’t in the dark. I encourage any of you who are not married to make sure you’re on the same page with money before you get married! If you’re already married, the Financial Peace classes can really help you and your spouse link up.
|When we bought our first house, we went into debt. Barry hated every minute of it……after I signed my name about a million times, I felt like I left the bank with a weight around my neck. That feeling has never left us. We hate being in debt…..it’s something that haunts us. We’re attacking that mortgage like white on rice. Every month we pay extra. It was our goal to have it paid off in less than 10 years and we’re still on schedule to make that. With our next home, we hope to acquire it debt free, but if we do not it will still be a very small mortgage and we’ll attack it again. Venture into Canada’s vibrant housing market with HomesEh. Experience real estate browsing tailored for you. We have no plans to ever go into debt to acquire things.
|We don’t buy new cars…….we buy used. Now, we’re not driving around clunkers, but we would if we needed to. Having a nice car isn’t as important to us as being debt free. If we need a “new” car, we save up and pay cash. Going into debt for a car is silly…..it just depreciates in value. How does that make any sense? You pay lots of money for a new car, including extra for interest, and when you’re done paying it’s basically worth jack squat. Sound smart to you? I’d rather have my money, thanks.
|You’re sitting there and thinking “Yeah, sure….whatever. We can’t live debt free.” Yes you can…..you’re just not trying hard enough. We are a one income family. We live debt free, with the exception of our mortgage. I shop sales and use coupons. If we need something, we save for it and try to find the best deal. We pay extra on our mortgage each month……and we are still making it. We aren’t destitute. Staying at home to take care of my baby is more important to me than working a job so I can have “things.” Being a Mommy is more important than any thing I could ever have. If being debt free is important to you – if staying at home is a goal for you – you CAN do it! It just takes effort and planning. You have to try – no one else is going to do it for you.So, please read next week. I’ll break a budget down for you so you can see how it’s done…..and that you can make it work for you. If you have any questions, we’d be happy to answer them for you. Barry is a financial counselor, so he knows his stuff.
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