So, it’s been one year. A year since we tallied up just how deep in debt we were and decided to eliminate it on a ten year deadline and document it on owningburtonfarm.com. This is a special post. Not only will I be talking about March and April’s numbers, I will also be talking about how we eliminated $108,210.80 in debt in our first year. I’m putting the numbers in a spreadsheet in our resource library so you can see exactly how we did it. You can see where we started…
Tag: Putting Every Dollar to Work
Net Worth & Debt Payoff through 12/31/2016
Happy New Year, Everybody! We sent 2016 out with a bang! Just kidding! It was LIGHTS OUT at this house around 9PM. But we did make some dramatic changes to our finances in the last month and I’m so pumped to go into 2017 in this shape! Let’s just bust this thing on out and see if you notice anything different: Assets Value Owed Totals Farmhouse $200,000.00 $166,367.39 $33,632.61 Town house $100,000.00 $84,199.09 $15,800.91 Savings Accounts $8,453.37 $0.00 $8,453.37 Checking Account $40.15 $0.00 $40.15 Family Loan $0.00 $0.00 $0.00 Discover $0.00…
How to Build a Budget in 7 Easy Steps
Want to take a sweet trip to Venice to ride a gondola guided by a singing gondolier in traditional Italian garb in five years? Maybe you want to retire a millionaire long before you hit minimum retirement age? Want to adopt a child in four years, but $20,000 is a lot of money and you don’t know where you are going to come up with it? Have you visualized yourself at the exact moment you are out of debt? What does it feel like? What does it smell like? All of…
How Can You Save Money? Here’s 9 Easy Ways
Here are 9 painless ways to save money or pay off debt. They just require a little bit of mental energy. I promise, you’ll be surprised at how much you can save or pay off quickly and some of you can see results as soon as your next paycheck. 1. You set a budget for X amount of dollars… When you come in under budget for the month, what happens to the difference? Usually, you just absorb it into your budget. Now what would happen if you were to transfer the difference to savings (or the…
How we found ourselves $276,243.63 in debt
April 8, 2016. I’m not going into details today about the circumstances surrounding it, but this was a burdensome, heavy-hearted day in my life. An informal, undocumented loan was called due by text message at 3:30 AM, followed up by an email at around 4:30 AM, net seven days, mind you, so I applied online that evening to four different reputable lenders. The next morning, my local credit union dumped fifteen grand into my checking account and it was official. I was the deepest in debt I had ever been in…