READ Downsizing our home while growing our family
We had to make a lifestyle change, but we are loving it! We used the money that we made off of the house to pay off ALL of our debt! Living in an apartment also means that we have less to pay in bills, which leaves us with even more money in our pocket each month!
Here is what we gave up:
- Extra space
- kids having their own bedrooms
- big backyard
- total privacy (house vs. sharing an apartment building)
- Our own garage
- a new gorgeous rehabbed home
Here is what we gained:
- A debt free life
- more money
- more time (not spent on house upkeep)
- less driving (we moved closer to our jobs and friends)
- My husband can bike to work
- a more walkable neighborhood
- less stress (trying to maintain and pay for a house)
- freedom to move if we wish (without trying to sell a house first)
- An all around simpler lifestyle
Trying to get out of debt? Here are a few things to try:
- PRAY! Oh my goodness did we pray, pray, pray to find a way out of our debt! Living with debt gave us a HUGE burden to carry around and is not the biblical example of good money management. We wanted to be free and have the ability to give generously and to live more freely.
- Change your lifestyle. This may mean that you shop less, want less, and live more frugally while you pay down debt. It could mean that you make a bigger change like we did. You may need to move, downsize, sell a car, sell property, etc. This looks different for everyone, but think about how you can change your lifestyle to ease your financial situation.
- Get creative. With our amount of debt, we knew that living more frugally was not enough to pay it off. We had to really get creative and use our talents. My husband is an architect and was able to do a bunch of the house rehab himself. He is really good at that stuff. By using his talent and ability, we were able to not only change our lifestyle, but really grow the value of our home to make more in profit. Think about your own talents and how they could help generate extra money.
- Do not expect a quick fix. Although we paid off our debt in a few phone calls one recent afternoon, it took two years of hard work and sacrifice to get there. However, the sooner you start, the sooner you will get there!