WHat extreme life changes have you made to get out of debt?

[scrappyhappymama]

We're about to get serious about Dave Ramsey extreme changes to our lives to get out of debt.

 

I'd love to hear some success stories and encouragement!

 

We're very seriously considering moving from our beautiful 2400 sq ft home into a 672 sqft single-wide trailer. :scared:

 

We will be moving no matter what, because my husband has been unemployed for a couple of months and has been offered a job in another city. We went to look at homes to rent in the new city last weekend, and we'd have to pay at least $300-400 more a month than our current mortgage to rent a comparable house.

 

So we've been looking at smaller houses, and talking about making a fresh start and trying to cut expenses to pay off our debts (primarily enormous school loans, which total a mortgage sized payment all by themselves). My husband's parents own a piece of property with a single wide trailer on it and would let us stay in it rent free, just paying the property taxes and POA fees. If we lived there, we could feasibly pay off all our debts and save up a substantial down payment on a home in about three years.

 

Aiyaiyai!! Can I do it for three years? Part of me thinks it is completely crazy, and the other part thinks it would be crazy cool. We've been downsizing our stuff and clearing clutter ever since we knew we'd be moving, but since discussing this, we've had a renewed passion for clearing out/selling the excess stuff! That has to be a good thing.

 

So anyway, I'd love to hear any encouragement or stories of folks who have actually become debt free, and to hear any extreme measures you may have gone to to make it happen!

[TracieT]

Living in the trailer would totally be worth it. We were in debt for so long and it was always this constant thing looming over our heads. We cancelled our cable tv, phone and just quit spending money. Sent everything to the credit cards until it was paid off. We've not gone back to tv or phone, either. We also drive old cars. We had downsized our house previously, but that was before we got serious about our debt.

[emeraldjoy]

you can do it! you can do it! you can do it!

What an amazing option you have....maybe meant to be???

Having traveled all over the world and lived out of backpacks with 4 children, I can attest to the fact that you can get used to anything, especially if you have larger goal. It is all just a matter of perspective. To some the double wide would seem huge, you know?

good for you by the way!!

e

[lakotajm]

you can do it! you can do it! you can do it!

What an amazing option you have....maybe meant to be???

Having traveled all over the world and lived out of backpacks with 4 children, I can attest to the fact that you can get used to anything, especially if you have larger goal. It is all just a matter of perspective. To some the double wide would seem huge, you know?

good for you by the way!!

e

Go for it!

Agree about what you can get used to-to a certain degree.

But it wears on you when this goes to extremes. I went from me and dd in decent rental in mid-size town to new family in broken-down farmhouse full of junk and filth which I cleaned while very pregnant. Started with no running water. Never had septic-we went the bucket version of humanure. Finally got it almost nice and it burned down from electrical short (the last thing to get fixed-the upstairs electric.) Just make sure you aren't moving to Green Acres and you'll do fine.

Lakota

[the4Rs]

Rent free? Only 3 years? GO FOR IT!!! That is such an amazing opportunity. Just dig yourself a storm shelter if you live in tornado alley ;) Just kidding....well sort of.

 

Honestly, that is such a blessing. I'd love an opportunity like that.

[HSMWB]

I'd do it!

 

We ourselves are contemplating the same kind of thing, except it would be into a 600 sq ft condo with only one bedroom with two kids. We are just waiting to see if some other things are going to fall into place because it would mean moving about 2 1/2 hours from where we currently live.

[Liz CA]

Is it the typical 11x60 ft single wide trailer? Yup, I lived in one of those for almost seven years before we built a house on the property.

It really depends how resourceful you are and how many clever storage solutions you have up your sleeve. Read "IKEA". The fun part is that you can touch wall to wall - well almost, if you stretch out both arms.

 

Our trailer was from 1976 :laugh: and the roof leaked...well I won't go into all those stories...but I think it is well worth if you can save up for a nice down payment! It will be an adventure and the kids will love it - my ds did. :D

[Ohdanigirl]

We did something similar when dh was unemployed. We moved into a small 2 bedroom condo with 2 dc and 2 teenage BIL. We stayed for a couple of years after dh started working. It really allowed us to save money and keep a roof over out head while he was job hunting.

 

Go for it.

 

Danielle

[alpidarkomama]

:hurray:

 

DO IT, DO IT!!!

 

You will not regret it, especially a few years down the road.

[scrappyhappymama]

Rent free? Only 3 years? GO FOR IT!!! That is such an amazing opportunity. Just dig yourself a storm shelter if you live in tornado alley ;) Just kidding....well sort of.

 

Honestly, that is such a blessing. I'd love an opportunity like that.

 

It's absolutely in Tornado Alley. But, there is a common building a few blocks away that we could get to if there were tornado warnings. Still no guarantee... but it's something!

 

I'd do it!

 

We ourselves are contemplating the same kind of thing, except it would be into a 600 sq ft condo with only one bedroom with two kids. We are just waiting to see if some other things are going to fall into place because it would mean moving about 2 1/2 hours from where we currently live.

 

It is a big decision, isn't it? We have four boys, and it's a little hard to imagine going to two bedrooms and one living/dining/kitchen area. But, it's on about 1/2 acre at least, so I can send them out to run and play when they are driving me bonkers.

 

 

We're going to go look at the home on Monday. It needs to be cleaned out of the clutter that has accumulated since my grandmother in law died a few years ago. We'll need to see what repairs would absolutely have to be done first. It needs a fenced area for our boys and dog to play safely. There's no laundry area inside, and grandma had her washer in a shed or lean-to out back. Oh, this will really be a BIG challenge for me. But the payoff... could be incredible.

[Cheryl in NM]

We took a temporary job for 2 years with double salary. Unfortunately, we had a catastrophe and needed the double salary to fix that issue instead of getting ahead as we wished.

 

Anyway, it's doable. Go for it!

[Joyofsixreboot]

We've done lots of things when necessity dictated it. Go for it! If you only make it a year you're better off than you were, right?

[unsinkable]

It's absolutely in Tornado Alley. But, there is a common building a few blocks away that we could get to if there were tornado warnings. Still no guarantee... but it's something!

 

 

 

It is a big decision, isn't it? We have four boys, and it's a little hard to imagine going to two bedrooms and one living/dining/kitchen area. But, it's on about 1/2 acre at least, so I can send them out to run and play when they are driving me bonkers.

 

 

We're going to go look at the home on Monday. It needs to be cleaned out of the clutter that has accumulated since my grandmother in law died a few years ago. We'll need to see what repairs would absolutely have to be done first. It needs a fenced area for our boys and dog to play safely. There's no laundry area inside, and grandma had her washer in a shed or lean-to out back. Oh, this will really be a BIG challenge for me. But the payoff... could be incredible.

 

Good luck! :grouphug:

 

Let us know how it looks.

[JessieC]

To get out of credit card debt, I worked a second job at night (from home) in addition to my full-time job. ALL of the second job money went to the debt. I don't think I ever would have paid it off otherwise.

[vonfirmath]

We're about to get serious about Dave Ramsey extreme changes to our lives to get out of debt.

 

I'd love to hear some success stories and encouragement!

 

We're very seriously considering moving from our beautiful 2400 sq ft home into a 672 sqft single-wide trailer. :scared:

 

Why 672 ft trailer? I've been looking at trailers around here, and finding stuff pretty affordable in the 1100-1400 sq ft range (of course we are trying to find something 3 bedroom)

 

We did eventually decide to stay where we are, suffer with 2 bedrooms to save money. BUT that's a really tiny trailer. Though I did share a 8x40 for a year with my dad when he and mom were living apart for a year (school and job in two different cities, plus wanting to make sure I went to a particular HS). But there was no bathtub, the kitchen was a hallway. I was a teenager who liked to read. Storage was EXCELLENT.

[Impish]

For a set, short term period of time, I'd do it, and 3 yrs qualifies in my mind.

[JudoMom]

I think you should try it.

 

Is there any reason you have to commit to 3 years? Could you just commit to a year and re-evaluate at the end of the year?

[Scuff]

Well, after posting in the small house thread about how horrible that would be, I think you should try this. Be realistic, it's going to be different and probably a challenge. But rent free. In 3 years you could be debt free and back in a dream house? Sounds good to me. You have a goal. A reason for being there. And, most importantly, an end to it all. And if you get there and find out it's just too much, it's not yours. You can house hunt early and get out if you need to.

[Mejane]

.

Edited June 7, 2011 by Mejane

[chiguirre]

Yes. If it's in decent shape, it is completely doable. In addition to the fence, I'd get one of those canopies and make myself an outdoor "room" for some space.

[Amy Jo]

Well we lived in a 12x56 trailer with 2 bedrooms up until a few months ago. That was for almost 6 years, the last few we did have a 19x12 addon room that was mostly finished. I didn't see were you are at, but we finally got rid of that trailer because it was COLD!!!! (Meaning blocking off the one room with the wood stove and everyone stayed there.) We have a wonderful lot though, huge yard, end of the road privacy.

 

I'd try it if you aren't going to freeze. Build a room on if you can. You can always change your mind later.

[Carol in Cal.]

Absolutely do it. Make it a game. "How much less can we spend THIS month?"

 

For every purchase, ask whether there is a cheaper way to get it.

 

Shop at thrift stores for clothes.

 

Don't ever buy anything the first time you see it.

 

Start a price book (a la Tightwad Gazette).

 

Watch Frontier House for ideas on how to live this way.

 

I know some people right her in Silicon Valley--he was a tech manager, and she was a nurse. They bought a nice city lot. They built a garage on it (freestanding garages are not uncommon in this neighborhood of older homes.) They lived in the garage while they built their house. It took two or three years. They did a lot of the work themselves, but not all of it. It was worth it.

Edited June 3, 2011 by Carol in Cal.

[scrappyhappymama]

We've done lots of things when necessity dictated it. Go for it! If you only make it a year you're better off than you were, right?

I think you should try it.

 

Is there any reason you have to commit to 3 years? Could you just commit to a year and re-evaluate at the end of the year?

 

Good points! No, there is nothing that will require us to stay the entire three years. That's just our estimate for how long it would take to actually get everything paid off and a deposit saved. I suppose if it got to be too unbearable, we could leave sooner. But I am hoping that seeing our debts getting paid off would be incentive to stick it out!

 

Why 672 ft trailer? I've been looking at trailers around here, and finding stuff pretty affordable in the 1100-1400 sq ft range (of course we are trying to find something 3 bedroom)

 

We did eventually decide to stay where we are, suffer with 2 bedrooms to save money. BUT that's a really tiny trailer. Though I did share a 8x40 for a year with my dad when he and mom were living apart for a year (school and job in two different cities, plus wanting to make sure I went to a particular HS). But there was no bathtub, the kitchen was a hallway. I was a teenager who liked to read. Storage was EXCELLENT.

 

That's the trailer that is already there on the property. We've thought about maybe buying a used, bigger trailer to put on the land instead. But this one is free, so if we can make it work, we will. It is also in a covenant community of property owners, so now the restrictions of what kind of home they will allow on the land are stricter. So I'm not sure they would even allow us to bring in a used trailer, even if it were nicer than the one there.

 

Well we lived in a 12x56 trailer with 2 bedrooms up until a few months ago. That was for almost 6 years, the last few we did have a 19x12 addon room that was mostly finished. I didn't see were you are at, but we finally got rid of that trailer because it was COLD!!!! (Meaning blocking off the one room with the wood stove and everyone stayed there.) We have a wonderful lot though, huge yard, end of the road privacy.

 

I'd try it if you aren't going to freeze. Build a room on if you can. You can always change your mind later.

 

We definitely won't freeze. We're here in TX and winters are mild. But I am a little nervous about the heat! We'll have window units and fans though, so I think we could manage.

 

I love the add on room idea. My husband already has plans to build on a covered porch, so maybe eventually we could enclose it and use it as an extra room.

[Garga]

For three years, I'd do it in a flash. In fact, I'll admit I'm a little jealous that you have this opportunity! What a blessing!

 

I'm not sure if I could manage more than 3 years, because it'll be a tight fit for 6 people. I'd be keeping my eye on the prize the whole time. And you'll need to seriously downsize the amount of stuff you have. But that can also be a blessing. Less stuff to take care of and maintain.

Edited June 3, 2011 by Garga

[Colleen in NS]

For three years, I'd do it in a flash. In fact, I'll admit I'm a little jealous that you have this opportunity! What a blessing!

 

 

 

:iagree:

[mchel210]

We started our first "real" month cc free! OMgoodness....IM going BANANAS! Really. I dont think we have ever lived like this...BUT...I am so excited and ready for the challenge. I bought a cash only wallet on etsy that has categories for your cash. I didnt want to use paper since I know I will rip them up.

 

Anyways, I am finding we are spending a TON less with cash. I have my money for each envelope and thats it. I think the hardest thing I am dealing with in our first month is all the little extras you dont remember. The friends birthday parties that come up....the lunches or dinners we miss when we are out and dont have lunch packed, the tons of money you spend on gas!

 

I also am finding it hard to be hanging out with my friends that dont worry about money. They want to go do things all the time that cost money that I just dont have. So...I finally just said...we dont have that extra money...sorry. My kiddos are finally getting it but its a huge adjustment for everyone!

[AuntieM]

Early this spring I traded my shiny, bigger, newer, 3 year old SUV for a smaller, older, not so shiny, yet more fuel efficient one, which we bought with cash on the spot.

 

We have kept lean closets, buying clothes and shoes as necessary, but only then. "Neat and clean" is our fashion motto, as opposed to "sport the latest trend."

 

Haircuts at home. We don't do this every time, since the kids are older and I cannot cut my own hair, but we have a nifty pair of scissors, I can stave off the need for a cut for weeks.

 

We buy the food we need, and eat the food we buy. At least, this is what we try to do. It's probably the hardest. Lots of complaints about leftovers, but none of my children appear to be starving to death (neither dh nor me!).

 

Just this month we sold one home and bought another for a sales price more than $100K less. That will slightly improve our monthly cash flow and, better, has decreased our debt load by a huge amount. We now see paying off the house as actually achievable.

 

You are talking about a huge change in living space. We are going to an older home in a less... prestigious... area, in a less desirable school district, but not sacrificing space. We were willing to sacrifice space when we decided to sell this house, but it turned out to be unnecessary. If we had to go to 40% of our original space, as you seem to be doing, it would be very hard. But it depends on how you live. Try to visualize which rooms of your current home would represent the future space. Could you live in that amount of space?

 

I applaud your efforts - one step at a time! It is good not to have debt hanging overhead.

[twoforjoy]

None. We started out with very little money. We've got almost nothing to downsize. We have a 750 sq. ft. apartment that will soon house two adults and three kids. We've got a 1997 station wagon that we got from family. We don't have any significant expenses, just years of low income (although we've done better the last 2 years) and tons of student loan debt.

 

If we had the opportunity to live somewhere rent free for 3 years, we'd take it in a heartbeat. It might let us actually make a dent in some of that student loan debt. I say go for it.

[mytwomonkeys]

We're about to get serious about Dave Ramsey extreme changes to our lives to get out of debt.

 

I'd love to hear some success stories and encouragement!

 

We're very seriously considering moving from our beautiful 2400 sq ft home into a 672 sqft single-wide trailer. :scared:

 

oh my gosh, we are doing the same thing! we are moving from our 2300 sq ft 4 bedroom 2 bath gorgeous home into a trailer! it is still a decent size, 1200 sq ft 3 bedroom/2 bath. our rent will only be $250 though! i am SOOO excited! we will still have an acre and a fenced yard too, so it really won't be a sacrifice, just an adjustment. plus, we are actually moving from SC to FL to do this...so that will be a big change as well, with a new job for my husband and everything. we are doing dave ramsey pretty hard core though & plan to live on less than half of our salary. we will be completely debt free in one year, i'm talking cars, student loans, credit cards...EVERYTHING. i'm really stoked. the second year we will create our 6 month savings and then save for 20% down on our home. we should be where we want to be in 2 1/2 -3 years. :D we can help each other through it.... "live like no one now, so you can live like no one later".;)

[newbie]

No clothes buying.

No fast food, just groceries.

No going out anywhere.

 

Just pay for basics.

[Meriwether]

We're about to get serious about Dave Ramsey extreme changes to our lives to get out of debt.

 

I'd love to hear some success stories and encouragement!

 

We're very seriously considering moving from our beautiful 2400 sq ft home into a 672 sqft single-wide trailer. :scared:

 

We will be moving no matter what, because my husband has been unemployed for a couple of months and has been offered a job in another city. We went to look at homes to rent in the new city last weekend, and we'd have to pay at least $300-400 more a month than our current mortgage to rent a comparable house.

 

So we've been looking at smaller houses, and talking about making a fresh start and trying to cut expenses to pay off our debts (primarily enormous school loans, which total a mortgage sized payment all by themselves). My husband's parents own a piece of property with a single wide trailer on it and would let us stay in it rent free, just paying the property taxes and POA fees. If we lived there, we could feasibly pay off all our debts and save up a substantial down payment on a home in about three years.

 

Aiyaiyai!! Can I do it for three years? Part of me thinks it is completely crazy, and the other part thinks it would be crazy cool. We've been downsizing our stuff and clearing clutter ever since we knew we'd be moving, but since discussing this, we've had a renewed passion for clearing out/selling the excess stuff! That has to be a good thing.

 

So anyway, I'd love to hear any encouragement or stories of folks who have actually become debt free, and to hear any extreme measures you may have gone to to make it happen!

 

Three years goes by quickly. Really, it does. We get transferred every so often. I'd kind of like to pay cash for our next place if we can swing it and save money to build. I think in 3-5 years we could save enough to build if we went bare bones. I haven't quite talked Dh into it.

[actuary]

I think it's a great idea! I would totally do it - plus if you don't have to commit to three years, then you can just try it out for maybe a year to see how it goes? If it's absolutely unbearable, then you could move.

 

I don't have a super amazing story to share, but I am living with my parents right now in order to save money. I would love to have my own apartment but the opportunity to build up my savings was just too good to pass up. Also I am living without a car to keep my expenses low. And I am always looking for opportunities to cut costs because I would like to be financially secure one day.

 

So y'all inspire me - because it's so tempting to want to just go out and get a new car and apartment now instead of taking advantage of a temporary time during which I can boost my savings. So hopefully someday I can buy my own place. :)

[jenL]

I would take your opportunity and run with it! We've been doing DR for a year now, and we only have student loan payments to contend with, and even those are 1/3 of the way paid off. It has been extremely liberating even while being challenging. What an incredible chance you have been given!

[Twilight Woods]

I would so jump at this opportunity!!!

[kubiac]

Do it! Living without debt is amazing. Another book to read in addition to his Total Money Makeover is Thomas J. Stanley's The Millionaire Next Door. It will really inspire you about the power of living humbly.

 

In addition to the trailer, take this opportunity to live as frugally as you can and make it an educational opportunity for the kids. Make your own laundry detergent and study chemistry while you're at it. Grow a garden to save money on produce and use it as a biology learning unit. Don't sign up for new TV service and read to each other at night instead. This could be an amazing time in your life, and when you're done, the rewards will feel so good.

 

P.S. I adore Dave Ramsey and paying off our HELOC and having a positive net worth is one of the things that's allowing me to stay home with my son now. I listen to him on the radio every single day and he's been a source of great wisdom in my life.

Edited June 3, 2011 by kubiac

[scrappyhappymama]

Thank you so much for all your encouragement and suggestions!

 

We'll be going to see the house on Monday, so I'll update then and may be looking for even more encouragement once I see what I'd really be getting in to! :lol:

[ktgrok]

I may be the only one to say this, but no. I would NOT do it.

 

You have 4 active boys. We are asking them to all share a very small space, with you. I think my sanity would give out WAY before 3 years, and the medical bills for the asylum would counter the free rent.

 

Seriously, getting out of debt is great. We live in a house we bought that was forclosed on and awful. 3 years later we still only have one working shower, and for the past 5 months there has been no carpet/flooring in the bedrooms. We don't have cable, drive old cars we could pay cash for, etc. But we have enough to keep us happy. I wouldn't downsize to the point where the kids would be fighting with eachother all the time, or to the point where I couldn't get a clear space to work, etc. I'd go nuts.

 

I think 1000 feet is totally doable, but not 625.

 

I mean, I know you COULD do it, but I don't think it would be worth it if your family harmony was destroyed.

[susankenny]

Yes. Absolutely. 3 years is a small price to pay for a lifetime of freedom. Your boys will grow up and remember what you did, and I feel it will impact them positively. Go for it!!

 

 

Susan

[Heather in Neverland]

Definitely. We took jobs on the other side of the world for two years and it has FLOWN by. Two years gone in a blink. Three years will fly by especially if you are all working toward a common goal!

[annandatje]

Extreme measures:

 

(1) Delayed having children.

 

(2) Moved to low cost rental in inner city high-crime low-income area.

 

(3) Cooked on a $30 2 burner "buffet" and countertop convection oven because landlord was charging a monthly amount for stove and refrigerator rental. Had stove removed from unit.

 

(4) Kept heat turned down very low.

 

Less extreme measures that are still in place:

 

(4) We drive old high mileage cars. Newest car has over 150,000 miles. Oldest has over 350,000 miles.

[Mama Geek]

We quit 2 direct jobs that we could have worked at until we retired and started doing contract work. Still engineering but very different fields for both of us. We figured if we only made it for a couple of months it was well worth it. We worked for 1 1/2 years got completely out of debt and saved up a nice nest egg.

[Heidi]

We're about to get serious about Dave Ramsey extreme changes to our lives to get out of debt.

 

I'd love to hear some success stories and encouragement!

 

We're very seriously considering moving from our beautiful 2400 sq ft home into a 672 sqft single-wide trailer. :scared:

 

We will be moving no matter what, because my husband has been unemployed for a couple of months and has been offered a job in another city. We went to look at homes to rent in the new city last weekend, and we'd have to pay at least $300-400 more a month than our current mortgage to rent a comparable house.

 

So we've been looking at smaller houses, and talking about making a fresh start and trying to cut expenses to pay off our debts (primarily enormous school loans, which total a mortgage sized payment all by themselves). My husband's parents own a piece of property with a single wide trailer on it and would let us stay in it rent free, just paying the property taxes and POA fees. If we lived there, we could feasibly pay off all our debts and save up a substantial down payment on a home in about three years.

 

Aiyaiyai!! Can I do it for three years? Part of me thinks it is completely crazy, and the other part thinks it would be crazy cool. We've been downsizing our stuff and clearing clutter ever since we knew we'd be moving, but since discussing this, we've had a renewed passion for clearing out/selling the excess stuff! That has to be a good thing.

 

So anyway, I'd love to hear any encouragement or stories of folks who have actually become debt free, and to hear any extreme measures you may have gone to to make it happen!

 

We did what you did and it was a wonderful experience. It has brought us together as a couple because we're working towards a common goal. Becoming debt free is an awesome feeling. When something breaks or an unexpected bill comes up, it barely creates a ripple in our budget. When someone needs help financially, we can easily help them.

Now I'm beginning to research investing (in real estate) because my house is in order, and it's so exciting. Good luck!!!!

[Julie Smith]

Extreme measures:

 

(1) Delayed having children.

 

 

I suppose we did this one. When we 'married', we waiting 6 years before having kids. It was my desire to stay home with our kids, but first we wanted to save up money. So I got a job and worked for 6 years.

 

I know if we didn't do this then it would have made life difficult later.

 

But I was young when we first got married and didn't know much about money management/mismanagement.

- I honestly didn't know you could get into credit card debt. I thought if you didn't pay it in full at the end of the month you were cut off, and if you didn't pay it back very soon after that the police might come knocking on your door.

- I also didn't know about other forms of debt besides car and mortgage. I also thought you had to have about 25%+ down payment when buying a house.

- I also thought you could only get set up for car payments if you bought a new car. And since I was never going to buy a car new that meant that I thought you needed cash in hand to buy.

 

My dh knew that those thoughts of mine weren't true. But we never really talked about it. It's not like he would say, "Did you know we could run up a debt in this way..." or "We don't have to pay the credit card off at the end of month."

 

I also thought that you would be judged at stupid, super stupid (as in possible runner up for a award similar to the Darwin awards) if you didn't get a good disability/life insurance policy. So we got one right away. It meant that we got a good deal since I was only 18 at the time.

 

I also didn't know it was acceptable to regularly carry a small balance in your bank account. I thought the bank would start calling and asking if everything was alright it you had a account that was used often, - with automatic withdraws (rent/mortgage..) - and there wasn't several hundred dollars in the account at all times.

 

So I suppose I never had to do extreme measures to get out of debt. But I can sort of credit it to my education, or lack of education about money mismanagement.

Edited June 4, 2011 by Julie Smith

[actuary]

- I honestly didn't know you could get into credit card debt. I thought if you didn't pay it in full at the end of the month you were cut off, and if you didn't pay it back very soon after that the police might come knocking on your door.

And since I was never going to buy a car new that meant that I thought you needed cash in hand to buy.

 

.

 

Haha that reminds me of some of my misconceptions when I was younger. I used to not understand credit card debt because I thought you literally had to pay it off every month. My parents always made such a big deal about how it was "real money" and you had to make sure you could pay the bill each month that I was so confused when I heard people talking about carrying a balance and making minimum payments. It took me a while to figure that one out.

 

I also used to think that you had to pay cash for new cars upfront because my parents made such a big deal about paying cash for their cars. Then I was confused about how everyone else in our town could afford to pay 70,000 upfront for a luxury car. Then I realized that people don't always pay cash upfront for a car.

[unsinkable]

Thank you so much for all your encouragement and suggestions!

 

We'll be going to see the house on Monday, so I'll update then and may be looking for even more encouragement once I see what I'd really be getting in to! :lol:

 

Did you see the thread about the homeschooling family living in a 320 sq. ft. space?

 

http://www.welltrainedmind.com/forums/showthread.php?t=279519

[DawnM]

Well, we went an entire summer without a/c in the upstairs. Here that means early May-late October!

 

Our heat pump died and it was going to cost about $4,000 for a new unit. We were still in debt and taking Crown Financial and VERY committed to paying off all debt and saving up cash for the unit.

 

My kids had mattresses on the living room floor. DH and I slept in the master br downstairs. The kids thought it was a 6 month camp out and loved it! :lol:

 

We had enough saved up by late winter to replace it.

 

I would actually love to sell and downsize but the market is so bad I am not even sure we could sell our house. The neighbor's house has been on the market for almost a year.

 

Dawn

[DawnM]

We didn't delay having kids, but we didn't get married until age 29. When I think of all we could have saved before kids and DID NOT it makes me ill.

 

Dawn

 

I suppose we did this one. When we 'married', we waiting 6 years before having kids. It was my desire to stay home with our kids, but first we wanted to save up money. So I got a job and worked for 6 years.

 

I know if we didn't do this then it would have made life difficult later.

 

But I was young when we first got married and didn't know much about money management/mismanagement.

- I honestly didn't know you could get into credit card debt. I thought if you didn't pay it in full at the end of the month you were cut off, and if you didn't pay it back very soon after that the police might come knocking on your door.

- I also didn't know about other forms of debt besides car and mortgage. I also thought you had to have about 25%+ down payment when buying a house.

- I also thought you could only get set up for car payments if you bought a new car. And since I was never going to buy a car new that meant that I thought you needed cash in hand to buy.

 

My dh knew that those thoughts of mine weren't true. But we never really talked about it. It's not like he would say, "Did you know we could run up a debt in this way..." or "We don't have to pay the credit card off at the end of month."

 

I also thought that you would be judged at stupid, super stupid (as in possible runner up for a award similar to the Darwin awards) if you didn't get a good disability/life insurance policy. So we got one right away. It meant that we got a good deal since I was only 18 at the time.

 

I also didn't know it was acceptable to regularly carry a small balance in your bank account. I thought the bank would start calling and asking if everything was alright it you had a account that was used often, - with automatic withdraws (rent/mortgage..) - and there wasn't several hundred dollars in the account at all times.

 

So I suppose I never had to do extreme measures to get out of debt. But I can sort of credit it to my education, or lack of education about money mismanagement.

[mchel210]

it is still a decent size, 1200 sq ft 3 bedroom/2 bath. our rent will only be $250 though! i am SOOO excited! we will still have an acre and a fenced yard too, so it really won't be a sacrifice, just an adjustment. plus, we are actually moving from SC to FL to do this

WOW..we cant do that here in S. Florida! Sounds nice even though you call it an adjustment!

[melissel]

I kept working for 7 years after my DD8 was born. It was absolute torture, but the vast majority of the responsibility for the debt was mine, and my salary was good and I could work from home, so I had to keep at it until quitting was feasible. We paid off a disturbing amount of CC debt, paid off two cars, and then bought another one with cash when DH's finally gave up the ghost. It was so hard, but the day that we paid off that last CC bill was like getting out of jail. You can do it!!!

[ChiMomNP]

We moved from Newport Beach, CA to the hell that is the south suburbs of Chicago. Our sentence here is almost up and we will be going to the Phoenix, AZ area for a few years. It was a good thing we did it but after almost 2 years, we can't take it anymore. We planned to do 3-4 years here, and even though we live essentially for free (our home here is paid for), we hate it so much that we are all miserable 24/7.