Friday, November 12, 2010

$65,000 Paid in Full in 3.5 Years!!

God is good everyday that He chooses to wake my family and I up, but especially today. Let me rewind back to May of 2007: Chris was getting ready for his first deployment Christian was 13 months old and I was seven months pregnant with Noah. We had two cars but were still paying for 3, 3 student loans, a personal loan, and 2 credit card debts. All together totalling around $65,000!!! I woke up today and realized it was the payday that we would finally be able to pay off our last debt! A $993 dollar payment to Nelnet for a student loan. I logged onto the website and even though it said we didn't owe another payment until 2017 because of how much ahead God has blessed us to pay back, I made the payment in full! What a blessing, it feels almost as good as the day I recieved Jesus Christ as my own personal savior for the debt of sin that owed back in 2004! I realize that not everyone out there is in the same financial situation as we are in but here are some things we did to pay back our 5 figure debt.

1) Put God first! Pay your tithes if you name the name of Christ!

Abraham paid Tithes before the law, the jews paid during the law and Christians did more than just give as their heart directed them to give. It took us a while to figure that one out but if you search the scriptures with an open heart you will see for yourself. This is one of the scriptures God used to guide us into laying aside 10% and then give on top of that as the Lord leads

1 Corinthians 16:2 (King James Version)
Upon the first day of the week let every one of you lay by him in store, as God hath prospered him, that there be no gatherings when I come.

2) Share a Car with your husband if you are married:

Yes I know it is 2010 and people have places they need to go but if God has given you a husband and an opportunity to be a keeper at home as God commanded in Titus 2:5, then this should not be a problem. We have shared a car for 3 years and have been content in doing so. If I really needed to go somewhere I would put the kids in the stroller the baby in the wrap and walk sometimes 2-3 miles. If there was somewhere I needed to be that I couldn't walk to, I dropped hubby off and took the car or my friend Liz would pick us up in her van =) Not a big deal.

3) Pay on debt first before making any big purchases when you get tax returns:

Yes it is very hard to do when you see the IRS has deposited several thousand dollars into your bank account and your mind begins to wonder and plan out all the things you could buy with that nice chunk of change.....but stop.....Pay Your Debt!

4)Stop buying new stuff, and sell stuff your not using anymore

I take pride in our home being clutter free and do not wish to have a bunch of stuff in our home that just collects dust. I regularly go through our home and find stuff we are not using and see if someone I know needs it possibly if not, I sell it on Craigslist or a yardsale. I have made well over $1000 doing this and have kept our home clutter free!

5)Create a budget:

Well you must know where your money is going. We do one every month on a spreadsheet and just fill in the purchases we make everyday and review for a few minutes so we know how much is left and what still needs to be paid so we don't overspend.

6)Have an emergency fund:

This is very important because something always comes up always! You don't want to have to go and beg from a family member/friend or put your unexpected expenses on a credit card and pay 17% interest when you could have saved a little instead of spending all you had earlier on! The car needs new tires, we want to go visit family/friends in another state, we have another baby, the cat visits the vet, I buy a reclining chair for my mom to sit in, we need a washer and dryer..etc...etc....We need to be good stewards and save in the good years like Joseph did way back in the book of Genesis!


Okay this one I know not everyone is able to do, but it helped us save a good amount. While chris deployed to Quatar in 2007 and Iraq in 2009 we put our stuff in our generous friends, garages and basements (Thank you Reid, Lawhon, and Pittman Families) and moved in with my sister.

Wednesday, November 10, 2010

Trip to Costco

Today we went to Costco and well I couldn't contain myself at first! I wanted to buy so many things. I seriously don't get out much and the marketing at Costco definately trapped me! Within 10 minutes I wanted to buy a train set, toy story bikes, leapster learning games, dresses for my nieces, heated blankets, a leather recliner for my mom to sit in, an old fashioned popcorn maker........didn't even get to the food yet! I had to really think and not be impulsive, a little hard with Joshua throwing a fit losing his shoe on a different aisle, Christian crying about having to share his sample and Noah just being whiny Noah! So since they were not on good behavior that immediately eliminated any of the toys I wanted to buy, the recliner would not fit in my van with 3 carseats, and so I escaped with only buying some glitter scrapbooking kits for my little sisters and two books for the kids that I have never seen before. One to help tell time, and a book with animal x-rays in them. I also bought some bathmats I have been meaning to buy since we moved over 3 months ago, and 2 scrapbooking kits for my little sisters. Then I realized I was going to go out of town for 5 days and shouldn't buy too much food. Glad I came to my senses somewhat and didn't loose control, knowing how close we are to being debt free I have been thinking I can buy so many things for people and some stuff for me too but we are not there just yet!