Money is the key player in life. It can make you or break you in most cases unless you’re absolutely self-reliant. Now we are not fully self reliant as of yet. In due time. If you are anything like we are, that financial stigma that has been looming overhead is now pouring. By pouring, I mean torrential! We have learned a lot, some good and some bad. In the course of 10 years, 2 marriages, and a divorce for both of us, needless to say the financial bucket is full of crap. Honestly, we are no different than most Americans. Past mistakes that you’ve shoved under the rug in hopes they’d dissolve to dust, have now resurfaced and made their presence well known.
Part of homesteading and being self reliant is no debt. None! Owe no one any thing. Period. Living simply means not being tied to the hip of someone else who is profiting off of you. I’ve yet to read about a homesteader in any part of the homesteading process or style of homesteading that was knee deep in debt and living self reliant. The two cannot go hand in hand. Part of our personal homesteading journey, is just that. Making up for past mistakes and paying things off. No debt. Repeat after me. No debt.
Here’s my own yukky financial story before divorce in 2012…
- always at the cusp of shutoff or disconnect of utilities
- always riding that fine line for repossession of vehicles
- always late on rent
- always changing providers
- always barely making ends meet
- always scrambling for money
- lack of financial communication between spouses
- lack of focus or goals between spouses
Here’s my husbands yukky financial story before his divorce in 2013…
- late payments
- lack of financial communication between spouses
- lack of focus or goals between spouses
- always scrambling for money
- throwing money away paying for others
Sickening right? Now speed up to the end of 2016…
- current on all bills (not including debt)
- starting to pay off debt
- starting to pay more than the minimum on vehicles
- never late on house payments
- shop providers annually or negotiate
- building a savings
- building an emergency fund
- saving for a home with acreage
And 2017…
- current on all bills (not including debt)
- paying off even more debt
- owning our vehicles
- shop providers annually or negotiate
- growing a savings
- growing an emergency fund
- saving for a home with acreage
- improving our credit
And 2018…
- current on all bills (not including debt)
- 75% of debt paid off
- owning our vehicles
- still shop providers annually or negotiating deals
- growing a savings
- growing an emergency fund
- saving for a home with acreage
- improving our credit
And 2019…
- started The Budget Mom program on budgeting
- started an all cash budget system
- started sinking funds to save cash for daily/annual spending
- 100% current on all bills (not including debt)
- 85% of debt paid off
- we own our vehicles
- still shop providers annually or negotiating deals
- we have an emergency fund
- we are building savings towards a down payment on a home
- improved our credit scores by over 183 points combined!
- opened a $200 secured credit card to build credit
- increased 401k allocation with company match to 8% (i increase per annual raise)
- started a Roth IRA
- tracking our social security
Now 2023…
- Re-started The Budget Mom system AGAIN!
- 100% current on all bills (Still!)
- After buying a home, repairs, much needed unavoidable expenses added over $365,000 worth of debt!!!!!!!!
- Now focused on small DIY projects and paying off our debt. Part of this debt is mortgage, but leaves over $100,000 of consumer debt. Ugh
Progress- somewhat. We still have a long way to go, but like anything else, you have to start somewhere.
Here are a few posts that you may find helpful.
Spiritual Inspiration
Paying off Slowly
Save Every Penny
Life of a Frugal Wife 