What is my goal, what do I want to gain from cutting back? The is a hard question, I could go on and on... but if I had to sum it up with two words it would be Contentment and Independence. This said now what do contentment and Independence mean to me and how on earth do I get there? These are questions I have been pondering for quit a while now, hubby and I are nearing the 50 mark (where did the time go?) I am finished with the fast rat race deadline kind of stress that was my life (I work part time and am caregiver to my mom). This life unfortunately is still a part of my dear sweet hubby's. I guess this is where Independence comes in at. We both hope to reach a point in our lives (hopefully!) where the money end is not really a problem and hubby can either stay where he is, work out of our home, someplace else or make ends meet with our farm. At least he would have a choice, but getting there is the problem! I have tried to drop our finances down to as bare minimum as I can get it, but we are still looking at a 10 year plan.
Contentment to me would be hubby and I together daily, taking care of the animals, gardening, canning our own food, making cheese, having fresh (hormone free, additive free) milk. Working toward (as much as we could), being able to supply a lot of what we need to live on the farm and being off the grid as much as is possible in this day and time. Evenings spent with hubby watching the races and me knitting, crocheting or sewing with no worries of a bank note over our heads. Of course with the odds and ends repairs being done (as needed) and of course our children and grand babies coming to visit. Now how to get there, it would be very nice if it could happen before 10 more years!
We owe on the farm and that is a big monthly expense, but we still own the shop in the town we live in so if we could sell that it should cut off our plan by 6 years ya! Down side selling it with the economy the way is now! :( Up side at least we have it rented! :) Down side if I put it up for sale I may lose my renter! :( decisions decisions....So cannot put shop up for sale at this time, keep it rented, hopefully!
Real estate and personal taxes is not going away unless you own nothing so that stays.
We have a couple of high interest loans that I am going to start paying extra on, if I do this they should be paid off in 5 months. :) My oldest daughter is taking over the payments on our car that is financed it only has one more year left and this will give her a good dependable car (we are keeping the van it has no payments!) Also we changed our bank payment to weekly withdrawls instead of monthly. We will slowly get there I just have to remember the same as my knitting, learn to crawl before we can run and enjoy life along the way :P
I wish we would have started this years ago, but better late than never!! Now to start a check list on how this will happen on our budget.
If it takes 10 years so be it, but if sooner whoohoo!!!!