Wednesday, January 7, 2015

The Goal

The husband and I have been talking about our budget a lot lately and it has always been a goal to pay off our house but we have been inspired.  We have 11 yrs left on the 15 year loan but with extra payments we have made along the way over the last 4 years it would be paid off in 9.5 years.  The goal.... to pay it off in 4 years.

I found a lovely blog on Dave Ramsey's site, The View Along the Way, and they made it seem so possible.  The reward, financial freedom.  A big goal for my husband is building our retirement and savings but when you do not have a house payment you can just apply your entire house payment to retirement!  My goal is to have the freedom to use our house payment where we need it whether it be savings, a vacation, or a repair to the house, wanting financial freedom, that the largest percentage of our budget is no longer applied to a house payment.

The Commitment

1.  Give!  - We believe in tithing and giving to our missionaries!  We plan to always give and increase our giving as God blesses us!  We believe in giving back to our Father because everything we have is His.
2. Eat out less - We eat at home a lot for dinner but found that we were going through drive thru, through out the week that were really making us spend more than we realized.  I am taking cash each week from what we budget and that is it for eating out and anything extra I buy (Starbucks, treats for the kids).  Matthew is taking less than that since he only buys for one and I buy for 3.
3. Balance extras and outings - We will cut back on any big vacations and just continue to go on our small getaways through out the year (which is vital for our sanity and family time).  My kids favorite outing is an activity center I take them to and running errands.... Good news, activity center is already paid for with a very cheap season pass of $30 bucks (I had family buy the new season passes for 2015 for presents).  Running errands is one of Niah's favorite things and that will always happen.
4.  We plan to cut our things and stuff that is not needed.  My kids have an over abundance of toys and stuff so for over a month now ever week Niah and I go through and pick out an item she no longer plays or needs to donate.  Then we talk about how there are kids that do not have toys and we can help them.  The great thing is that it is getting rid of clutter while teaching my kids to think of others because now it is second nature to her to say, "Mom lets give that to someone else that needs that.  This helps on not having them ask for unneeded items at the store.  We need and want less.

We may have to make a few sacrifices in the next four years meaning we may not go out to eat as many times as we want or go on a fancy vacation but in the end the reward is well worth the sacrifice.  Financial freedom of not having debt.  The goal is HUGE, to think about it as a whole can be overwhelming or even seem unattainable but to think about it on a daily/monthly goal so much easier.

I will try to update on things that work for us and do not work and things that help us for anyone that may be working toward or thinking about working toward this same goal.  If anyone has here now or has been and is on the side share your advice and what worked for you.


  1. Fabulous idea and amazing goals!!!! Loving your commitment! Good Luck!!!

  2. Stopping by from the link-up. I really like this! We're in a similar situation except I also have student loans. This is a great format that I hope we can implement.