Friday, August 31, 2012

20 Percent Down

I'm linking up with Amy today for Frankly Friday. And I'm going to write about something that I believe is super important...


I know it freaks some people out when I talk about money and actually give numbers and stuff but here's my thinking... we have a serious money problem in our country. Most people have loads of debt and kids are growing up not knowing how to handle money. I believe a big part of that is that people just don't talk about it. If people don't talk about money how can those who don't know what to do with money learn?

So I talk about it. :)

Most of you know that I'm a HUGE Dave Ramsey fan. He talks about money and he changed my life by changing my thinking. We took Financial Peace University seven years ago. Since then we've paid off $20,000 in debt, bought an $8000 van with cash, added two kids on (extremely) high insurance deductibles, saved up an emergency fund that would cover six months of expenses, built on our retirement fund and had a decent sized short term savings. We had four wonderful debt free years. HAD that short term savings and debt free years... because we just bought a house with 20% down!

All that on $40,000 a year!

To me that is a huge accomplishment because so many seem to think that $40,000 just isn't enough. But it is!... If you figure out how to make it be enough. :)

Really though, I'm totally excited about being able to put 20% down a house! We did receive a good sized gift to help us out but we also had enough to cover the 20% and closing in our own accounts. And it's a good thing! You see... the mortgage company missed the memo that we were getting a gift and if we had tried to do that at the last minute it would have screwed everything up. So we had to use all of our money and we will refill our emergency fund in a few days with the gift. Not the least stressful way to do it but it works. Writing a check for $17,600 was crazy!

Anyways... it wasn't easy building almost $18,000 in savings over the past four years. But we did it! We haven't taken big vacations. We don't get loads of new clothes. I have to keep putting off that camera upgrade that I desperately want. It has taken sacrifice... establishing what our needs really are and what are simply just wants. It's taken telling myself NO time and time again. Discipline. A lot of it. And it's not been easy!

But oh! Is it so worth it!! 

As I get ready to go spend day number two cleaning my new home... it is so worth it! So worth every sacrifice. So worth the peace I have when it comes to money.

To change our money problems we have to change our thinking and learn how to live off of what we have.

If you aren't sure where to start I highly recommend taking Financial Peace University with Dave Ramsey! It will rock your world in an amazing way and change your future!

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