When Chad and I got married, so did our DEBTS. Fortunately for us, it was mostly school debt and not a lot of consumer debt. We both understood the dangers of debt and the freedom that comes with being debt-free. But knowledge is only good when applied...consistently.
So we began our marriage journey by living off his paycheck, a rookie police officer, and using my preschool teacher's paycheck to get rid of that debt. A win for us, right?!?
Well, yes, but it didn’t take long until we felt that “need” to purchase our first home- you know, so that we could start a family. (cuz everyone knows you can't start a family without a house, right? Insert sarcasm)
We based our mortgage on his income, knowing that it was our goal for me to stay at home with our future children. Looking back, we should have waited and saved more (mistake#1) because what we “thought” was a good down payment basically just covered closing costs. Enter 100% financing. (mistake#2) But we had started the process and had “house fever,” so we pushed ahead and purchased our first home, a small townhouse over an hour from where Chad worked. (mistake #3)
We had a “plan” to stay in the townhouse for 5 years, build equity, then sell and purchase a single-family home... well, five years turned into ten years peppered with good and bad financial choices along the way.
Sometimes we just let life happen to us. Sometimes we lose sight of the bigger goal. But every day is a new day and an opportunity to get back on course!
One day we woke up! Enough was enough. It was time to get serious about our finances; we had lost so much time due to not being intentional with our money. What a waste!!
Today we live in a single-family home on 2 acres that LORD willing will be paid off in less than ten years, drive 2 paid-for cars, and are teaching our teenagers how to be smart with their money as we continue to dream and plan for our future.
We have many goals for our future that include helping others, traveling, and serving our LORD.