The American Dream… DEBT FREE

So, you’re just like every young couple in America, trying to get started. Trying to find your little spot in the world and thrive. You can imagine how wonderful life will be when you and your signifigant other get your own home, start a little farm and pop out some children that look just like you. You are even excited about the future housework you will endure as a wife. You dream of everything a young lady should, but there’s one small problem. You will more than likely go into hundred-thousands of dollars in debt, but hey, it’s all part of the American dream. Pay the mortgage, take the kids to school, buy the groceries, pay the mortgage, clean the house, pay the mortgage… I think you get it. That’s how Americans are nowadays, but it doesn’t have to be this way. You can achieve your dreams completely debt free if you wish. The real American dream is about hard work, and that’s what you’ll have to do.

Step 1: When you and your boyfriend, fiancé, husband, whatever he may be, decide to start your life together the very first thing you need to start doing if you are both employed is live off of one paycheck. This means living with your parents if you’re able. This means no fancy restaurants. This means date night is simply being in each other’s company. When you are able to put one of your paychecks completley in savings you will be shocked at how quickly it adds up. You’ll need this little nest egg to buy land if you don’t already have access to it through family. I have been blessed enough to live on a family farm, but I know that I’m the minoroty.

Step 2: Buy land. Buy as much or as little as you like once you have the money saved up. It’s very important to have the cash when buying land. There is always a better “cash price”.  Cash is king. Save up DONT borrow.

Step 3: I know that your dream home is probably a 2 story farm house with a wrap around porch and a elegant stairway with shiplap everywhere, and trust me you’ll get there. But you have to start out with a mobile home. Mobile homes are cheap, quick, and easy. If you can find an older one that needs work that’s even better! When I say “Mobile home” I am not talking about a brand new one. You have to find one at least 10 years old if not older. But check with your county because there are restrictions about moving old mobile homes. In my county you can go back to 1979. Any home before then is considered scrap and they don’t think it’s safe to move. But find one that needs some work. That way you can negotiate more on the price. Don’t forget not to get in too deep because you will be doing all the repairs.

Step 3: Simply step one all over again. You will need to save a signifigant amount of money AGAIN. But you can do it. By now you are a pro at “just getting by”. Spend your weekends couponing instead of going out. It’s actually fun. Also this is the time to create as much of a self sustained life as you can. Get chickens. Any one can successfully keep chickens, and you get free breakfast. Find your niche and do it. Make and sell soap. Start beekeeping. Sell that honey, honey! Start selling (almost) everything you own. Leaving just enough for what you need. Don’t hoard. Unless it has true sentimental value, get rid of it! Facebook is a wonderful place to sell. Dave Ramsey once said “sell so much that your kids think they are next.” If you don’t know Dave Ramsey please take the time and read something of his. Thank you. But seriously sell all that stuff you don’t use! Don’t hold onto stuff because you “may” need it “one” day.

Step 4: Buy rental properties and rent them out! Watch your money come in every month. Find good renters and listen to them. Keep the rental properties nice and fixed up. If something were to happen and you were to be unemployed you would still be able to survive with your monthly income from renters.

Step 5: Wait until you have yet another nest egg and build that big beautiful home that you dream of. By now you will be quite the handy man and more than capable. What you are unsure of you can always YouTube it. You’ll be set. Mortgage free.

 

My fiance and I are currently on this journey. This is our plan. We have found a 1985 double wide mobile home, it needs to be completely re-done but we are so ready for it. We plan to stay the course and enjoy our debt free life! More to come on this wonderful experience!

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