Let’s start where we left off in Part 1 of our story. In 2013, our home went under contract quickly, and we were left scrambling for a new home. Where we ended up wasn’t my ideal choice at the time, though my husband loved it. It was an older farmhouse which doubled our living space, and it sat on 12 acres. What we didn’t realize was the huge increase in heating costs it would bring. Our summer electric and gas bill amounted to $800 per month!
We did not have the extra funds to sink into new windows and new heat pumps, amongst other things. Yet we did purchase a new travel trailer and owned fairly new vehicles. We went to Disney World every other year. Priorities, right? We were perfectly normal, and I didn’t believe we could do anything differently.
Near the end of 2016 I came across a mention of Dave Ramsey in a totally unrelated YouTube video, and I decided to purchase The Total Money Makeover. The rest is history. My husband had suggested we learn from his teachings a long time ago, but I told him there was nothing we could do differently so it wasn’t worth our time. How foolish!
After reading The Total Money Makeover, we cash flowed a new heat pump in two months time. I was astonished. How did we do that? We then started knocking out the rest of our van debt, our travel trailer debt, a small credit card, and a personal loan. At that point my husband found a new job five hours away which would really help our cause.
Given our large family and menagerie of animals, we purchased a new home in South Carolina and moved before we put our home in Georgia on the market. Totally not Dave approved, but we didn’t want to separate our family for a time and renting wasn’t a good option for us. Once our home in Georgia sold, we made a profit of around $70,000 after fees. We used $30,000 to pay off the remainder of my student loans, and put $40,000 on the principal of our new home. We purchased it for $255,000 in late 2017. At the time of this writing, we owe $141,397.
Our home is about the same size as the one I purchased in 2004. We did cash flow a garage conversion in 2018 to give us a bit of extra space. It sits on six acres of land. One downfall is it’s distance from my husband’s workplace. Nearly 60 miles! But we’ve made this sacrifice for now as we continue to work on our finances. Frugality has become a way of life for us until we dig ourselves farther out of the hole we are in. We would love to be mortgage free!
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