Comments on: Financial Shape in 2008: End-of-the-year report

By: One in a Million Mom

One in a Million Mom — Wed, 19 Nov 2008 10:53:16 +0000

Great post, I just wanted you to know I posted about your post on my blog. I did get the link to your site to work I just have not figured out how to linkback. (Is that what it is called when you get notified someone posted about your blog).

I am new to blogger.

Thank you for your informative blog!

By: Crystal DuBois

Crystal DuBois — Tue, 18 Nov 2008 22:28:22 +0000

I read in a previous post that you have set up a mutual fund for your house savings. Do you have any recommendation in this area, or could you direct me to where I could get some guidance?

Thanks!

By: Erin

Erin — Mon, 17 Nov 2008 20:37:51 +0000

Thank you so much for doing this challenge this year. It really got our family to think about our finances and do something to improve them. Thanks!

By: Lori

Lori — Fri, 14 Nov 2008 23:36:45 +0000

Wow, great job! We love living like no one else either. It’s nice to know others do it, too. Keep up the good work. We kind of hit a snag this year since we had a baby in March, but we had our HSA set up, so everything since she came along has been free.

By: Mercedes

Mercedes — Fri, 14 Nov 2008 22:13:54 +0000

Congratulations to the Payne Family. I still remember your initial post when you set your goals and how you said you might as well aim high. Your experience is a true testament that with faith in God and the willingness to work hard nothing can stop anyone from achieving their goals. Great inspiration!

By: zsera

zsera — Fri, 14 Nov 2008 21:45:19 +0000

Congrats on meeting your goals. That is AWESOME!!!

By: jennifer

jennifer — Fri, 14 Nov 2008 19:17:45 +0000

You are an inspiration! We had a baby this year my insurance did not cover, so we had many challenges on one full-time income and marginal part-time income to meet expenses and pay the thousands required for the doctor, hospital and ever important epidural. But, somehow, we made it. We still have some work to do to get our savings back up to where it was, but we will end the year with no credit card debt and able to pay our bills, fill our cupboard and live well within our means.

By: Ginger

Ginger — Fri, 14 Nov 2008 17:21:35 +0000

It is nice to read a good news financial update. Good opportunity for me to reflect back…

We got a lot of things accomplished this year so 2009 will be a year of saving.

This year we accomplished the following…
Paid cash for our daughter’s wedding.
Paid cash for a new roof on our rental property.
Paid cash for a new cooling system on our rental property.
Paid cash for many trips for wedding prep, wedding, graduation, moving our daughter, prepping rental property for sale, etc.
Paid cash for a new washer/dryer set for our daughter as their wedding gift.

In fact, we didn’t incur any new commercial credit debt. We did purchase daughter #2 a new vehicle so there is a new bill. She is in college on scholarships so this is possible.

We are maxing out payroll deduction for retirement. We still coupon, eat leftovers, stockpile, bulk or clearance shop. We have a garden every year as well. I do what I can though I am not working to keep our expenses down…haircuts, no drycleaning almost ever, etc.

I’d rather live on less now so that there is something extra for the rocking chair years (no so far away now) and so I don’t burden my children or family with my care.

I love helping others save and live large on a small budget so my blogs fill that bill!

Ginger

By: Kelli

Kelli — Fri, 14 Nov 2008 12:01:00 +0000

Crystal-
I have a question: What do mean by paying 100% down on a house? I’m not sure exactly what you mean by that.
Thanks,
Kelli

**********************
Money Saving Mom here: That means we’re hoping to pay cash for the entire purchase price of the house. It’s just another way of saying that but when I used to say we were hoping to “pay cash for a house” everyone confused that with “paying cash for the down payment”.

Hope that helps!

By: Minda

Minda — Fri, 14 Nov 2008 11:36:48 +0000

Great post. I have added my link above. I love reading everyone’s stories!

By: Mary Ann

Mary Ann — Fri, 14 Nov 2008 06:09:45 +0000

Wow! I am so impressed that you’ve met your goal of saving $30,000 towards the house this year.

2007 was a rough year financially for us. Our goal was to get through it without going into debt. Which we did except for the car which we felt we had no choice but to finance half of(not an expensive new car). We just didn’t have enough saved to cover everything that happened at one time. The car was paid off by Thanksgiving last year and we ended the year with no debt and even still $1,000 in our emergency fund.

After going through that last year, we learned a bit more about planning and saving. We were saving faithfully before and living below our means but we weren’t as strict about planning ahead.

2008 has seen us making great strides towards savings and planning. Every dollar has had a name and our savings has many categories which we add to each month. We know exactly how much we have in each category. We aren’t perfect and have been able to see some flaws in our plan here and there but we continue to learn.

This has all occurred only by the grace of God. We are not rich by the world’s standards but have all we need. Best of all, we know that God provides for His children regardless of the amount of money in our savings account.

You are such an encouragement to all of us, Crystal. Thanks!

By: Jackie

Jackie — Thu, 13 Nov 2008 17:24:47 +0000

Wow thats so awesome for you! My husband and I are trying to think of our goals for 2009. Hopefully we can do as well as you!! I try to make 3 month goals and that seems to be working out well so far.

By: Emma

Emma — Thu, 13 Nov 2008 17:03:00 +0000

So inspiring! Thanks Crystal!

By: JC

JC — Thu, 13 Nov 2008 16:45:30 +0000

I agree with anon. We live below 20K, so I can’t imagine saving more than we make in one year. Seminary has certainly taught us to live on little.

We didn’t have concrete financial goals (other than survival, and going through school debt-free), but I was consistent on keeping groceries/toiletries less than $300/mo. We also rent- not only for not going in debt, but we only plan on being in this area for a few more years. We don’t want to get stuck paying for 2 residences if/when we move. We have a higher insurance deductible to save money. I calculated that it would be cheaper to have a baby on that insurance than one with a lower deductible/higher monthly rates. Still waiting on the baby… but saving money at the same time!

Thanks for sharing!

By: Catherine

Catherine — Thu, 13 Nov 2008 16:37:37 +0000

I’m so happy that you met your goals this year Crystal! I can’t wait to see where God takes you next year.

By: Lisa H

Lisa H — Thu, 13 Nov 2008 15:51:28 +0000

Congratulations, Crystal and Jesse!
Praise God for His blessings and for your faithfulness.
I admire your goal of buying a house, no mortgage! My question is, you mentioned the lower cost of living, what would a “normal” house cost where you are?
We are doing well financially, thanks to God!, and are thrilled to be buying a house right now in our L.A. suburb. Here, we’re putting down 20%, and that’s an amount that would probably BE 100% down in a different area. (The median here is still around $400,000.) Still, we feel so, so blessed, that we were able to sell our condo in this down market and have found a foreclosure to purchase.
Keep up the good work, and your blogs are such blessings to me!

By: LANA

LANA — Thu, 13 Nov 2008 15:45:35 +0000

Wow! Good for you! I am glad that the financial shape of the world has not brought the morals of people down as well!

By: jnbsmom

jnbsmom — Thu, 13 Nov 2008 15:39:37 +0000

We are debt free and loving every minute of it! With the help of Money Saving Mom, we are not feeling the crunch of the financial difficulties the country is facing. We cook from scratch, have a garden, freeze and can our produce, have a couple of chickens and pretty much only shop sales buying just what we need and use. We shop at CVS and RiteAid, and they have certainly helped us in the H&B department! We buy our clothes at JCPenney and some of the other “better” stores – but only their sales, and now have beautiful clothes for the fraction of the cost of Walmart. We are really living and it’s not costing us much at all. Thanks MSM!!!

By: Jennifer @ Joy of Frugal Living

Jennifer @ Joy of Frugal Living — Thu, 13 Nov 2008 15:21:55 +0000

Crystal, I’m so excited for you!! It’s inspiring to watch you meet and beat your goals.

Now that we are debt free, we are also planning for 100% down on a house. It seems like a bit of a wild goal, but I think we can do it. Seeing you work on it definitely helps me feel it’s possible – so thanks!

Jennifer

By: Cherlene

Cherlene — Thu, 13 Nov 2008 14:30:39 +0000

I have been reading your blog for a few months and you have been really helpful to me with all your tips and tricks on being frugal. I just have one question about one of your financial goals for 2008. I have been curious about this since the first time I read your blog. What type of house are you going to get for $30K? Our house is nothing special and we certainly are not in the nicest part of town and it cost us over $100K. My sister-in-law is trying to sell her house and it hoping she can get $40K for it, but she lives in a neighborhood surrounded by gangs and drug dealers. I wouldn’t think that that would be the area you’d want to move your family. I hope you’re not offended, but I am geniunely curious. We’ll be moving in a couple of years for my husband’s job and I would love to not have to take out a huge mortgage again. Thanks!

**********************
Money Saving Mom here: Don’t worry, we’re not buying a house for 30K. That was just this year’s savings goal! We are hopeful that we might have enough saved by the end of next year to pay 100% down on a modest house. We are hoping to get a good deal and in this current housing market, that looks very feasible. But, don’t worry, we plan to pay quite a bit more than 30K for it.