My trip down the debt to freedom road
you can go down this road as well
It began the day after my wife and I separated, but before the official divorce went through, which occurred seven months after.
I made a decision to live my life, to move on-- I made a ‘Bucket List!
My three sons lived with me, two were young adults and the third was still a child of seven years.So I wanted to do whatever I could to become financially free.
My list looked something like this, it was very simple. I felt that I needed to keep it simple, otherwise I might have become overwhelmed.
- pay off debts
- have money in savings
- top up investments
- buy a house
- travel again
To my surprise I had the first four checked off within the first two years.I still had to fulfill my dream of traveling again. I did fly out to Vancouver Island where I am from and visited some old friends of mine. But I did not consider that a part of traveling though.
Some people asked me, “Did you come into some money or win the lottery or something?” My answer is “No”.
What I did was simplify my life and reorganize my priorities--separate my wants from my needs.
I made sure that my youngest son had everything he needs, my own needs put aside.
Then I made a list of what I needed. Well the first thing I did was moved out of the house I was renting at the time and moved into a smaller two bedroom apartment, which was more cost effective. My two adult boys got their own apartment.
Then I only bought what my son and I needed, nothing more. I don’t drink or smoke. I am not dating anyone so our needs are very simple.
I banked everything I had left over and did not touch it, once I had my savings topped up, I began to top up my investment where it made me more money.
After a year of living in the apartment, my oldest son found a house that his friend was renting out. It was a four bedroom. So we all moved in there and split the cost three ways--between my two adult sons and myself. This saved us more money again.
Once we were settled in, I began to search the realtor.ca website and looked for a house that suited me. There were a few, but none in the price I was willing to pay or in the neighborhood I liked, near my youngest sons school.
I got to a point where I thought I would never buy a house, I was getting discouraged.
One day, I saw two on the internet, that seemed OK. As I walked past one, I saw that the house next door was also for sale, I didn’t know, I didn’t see it on the website. So I wrote down the particulars and looked it up when I got back home.
“This is the one”, I thought. I immediately contacted my agent and the following week we walked through it.
We wrote up the offer, I low balled it as I usually do. They came back with another offer and we settled on the price I had in mind. This offer was conditional on me getting a home inspection done, which I did and it turned out very well.
Two months later we moved in.
I’ve heard it said, “All things come to those who wait”. I say “All things come to those who pray”.
I firmly believe that if we ask God for guidance and not force His hand, Listen to Him...then, if it be His will, it will be done.
It is hard to get out of debt, it is hard to save money. But we can achieve this if we put aside our selfish desires and separate our wants from our needs. The reason for such financial hardships, not just personally, but also as nations is because of greed and selfishness.
For many centuries people lived simply, and they were happy. why do we feel that we need so much ‘stuff’? is it because we are told this by big business? Because our leaders tell us to spend? Think about why you buy the things you do.
Make a list, stick to it. You can do it.
August 26, 2013