Sunday, January 24, 2010

Making a conscious effort to get out of debt



Tax time is always an exciting time (for those getting a refund). The thing about is, that large sums of money . . . actually, any money really, makes it really hard to think clearly, LOL!!! Each year I try to work up a plan to try to prepare for the post-money trauma, that way I don't get confused and bogged down by it. Last year, we paid off, that delightful weight round our neck, mobile home. This year, we will attempt to payoff the credit cards and cancel them. New rule : "Cash on the barrel" - (Pa Ingalls was big on this). That is difficult but it means that you cannot spend more than you have and therefore are beholding to no one. It is amazing how much less you can live on as you start to pay off all these weights around your neck . . . debts. We will tackle the car and mortgage next, we'll talk more about that over next year. :)

Isn't fun how the beginning of the year is filled with so much . . . possibility :) We will still be buying and selling livestock as we have, we will have 2 Jersey milkers so 1 will be for sale and we should have piglets this spring. We will also look to increase our beef cow holdings :) So much to do, so little time. The farm did almost 4x the business than we did the first year. I am hoping to keep growing it till we don't really have to do anything else. My mom always said, go big or stay home, so I like to dream big :)

4 comments:

Lynnie said...

You Go Girl!

Kelle said...

You're on the right path and when you finally "Get'er done" you'll feel so amazing. When we paid off our morgage last Nov. it was the best feeling, although we'd hoped the bank would release a million balloons, confetti and have a marching band, but alas they didn't just took our money and gave us a receipt. The teller lady did tell us "Congradulations"! so it wasn't all bad*wink*
Now we use the money used for morgage payment to build up a good savings and to buy NEEDED items for the farm. One item, coming soon is a Irish Dexter Bull, for our cows!
Keep pluggin,I bet you're seeing light at the end of the preverbal tunnel*wink*!

Kelle said...

PS. I have a tutorial going right now( for the next week or so) on our blog on butchering hogs, rendering lard, processing, wrapping and making loose sausage and I'll post our recipes for the three types we make. Since you'll be raising pigs I thought it might help you.

hsmominmo said...

Good for you Janelle! Keep chipping away at those debts! Thanks for sharing - your story is an inspiration to many :-)