- Money Saving Mom® - http://moneysavingmom.com -

Saving 100% Down for A Home: Part 5

Posted By Crystal Paine On April 27, 2010 @ 1:00 am In Financial Freedom and Peace,LITE Feed (non-deal) Posts,Living Like No One Else,Living Simply,Saving 100% Down for a Home | Comments Disabled

Moving Back Home

After we moved back to our hometown and Jesse started his law firm, things were a little shaky for the first few months. We’d already started a few businesses in the past [1], so we knew somewhat of what we were up against in opening the law firm. But in another respect, this was a completely new ballpark.

We had experience in online marketing, but developing a local business — especially when there are strict rules and regulations regarding how you can market yourself as an attorney — was a huge learning curve.

But Jesse was motivated, focused and driven, in spite of the many different obstacles and setbacks which came his way. And it was so wonderfully incredible to see my husband throw himself into building his business from the ground up. He spent hours researching, reading and listening to audiobooks on entrepreneurialism, marketing and starting a business. He tried many out-of-the-box ideas and slowly his business started to take off.

And then, God had a big surprise waiting for us.

Only a few months after Jesse started his practice, the attorney he was office-sharing with approached him about an opportunity. Another local attorney, who’d had his own practice for many years, was getting ready to close up shop and was looking for someone to take over his phone lines, phone book ads and client base.

It seemed too good to be true and we were definitely interested! The only catch was that we had to be willing to take over the payments on the phone book ads. As a brand-new business owner committed to staying out debt, the costs of these phone book ads were pretty significant. Once again, we prayed about it, crunched a lot of numbers and finally decided that the costs involved with this were worth it.

So Jesse accepted the offer and assumed the phone book ads and phone lines of this well-established attorney. Within a few weeks, we began to discover just how huge of a break this was for Jesse: the phones were ringing, the clients and appointments were lining up and Jesse was starting to have more work than he could handle on his own.

I began helping him out for an hour or two each day from home (typing up letters, handling administrative details, etc.), but it was quickly becoming too much for me to keep up with. It was a little daunting to consider hiring an assistant so soon after beginning the law firm, but we realized that there was no other way he was going to be able to keep up with things at the rate it was growing. So we were very thankful when he found and hired a full-time assistant soon thereafter.

It’s been amazing to look back and see how God has blessed the law firm from the get-go, far beyond our wildest dreams. In fact, from the first month, it has turned a profit. We’re humbled by God’s goodness.

It’s also been so thrilling to see Jesse succeeding in his work and loving what he does. Having your husband find great fulfillment in his career is wonderful to witness. I feel like God taught Jesse much through those first few years of job difficulty, all of which prepared and equipped him for his business now.

In addition to God blessing Jesse’s business abundantly, God also continued to bless MoneySavingMom.com. The traffic steadily increased, and along with that, the income from the site increased.

Because we didn’t have any debt and were able to keep our expenses low, the good income which was coming in from our businesses allowed us to be able to save a significant percent each month towards our house fund goal.

We’d set a big, hairy, audacious goal of saving our 100% down goal by the end of 2009, but truthfully, we didn’t ever expect we’d actually hit that goal. And as fall rolled around, we were still quite a ways off from it. That was okay; we were happy with the traction we’d made and excited about the direction things were moving.

But then, November and December came and our earnings ended up being much, much higher than usual because of a couple of unexpected business opportunities which arose due to the Christmas season. We were absolutely floored and thrilled to actually hit our 100% down goal by the end of 2009.

We started looking for houses in earnest at the beginning of 2010 and continued saving while we did so. Five months later, we found the “perfect” house. [2] It was much nicer than we were expecting to purchase, but the price was exactly within our budget and it had every single feature we were looking for, plus a number of other things we had always thought would be really nice to have in a house.

We prayed about it, researched everything we possibly could, got a second and third opinion and felt like this was “the” house. So we put in an offer, the owners accepted our offer, and six weeks later we brought a cashier’s check into the realtor’s office, signed the contract and paid 100% down for our house [2].

It was the most amazing feeling — and it still is. We know that there is no way we could ever be debt-free, house and all, were it not for so many factors: the wise financial foundation our parents laid for us early on; Jesse’s dad investing the money from his mom’s death so we could pay cash for law school; discovering Dave Ramsey [3], a man who motivated us to dream big dreams and set big goals; our commitment to stay out of debt during law school which fueled our creativity and entreprenuerialism, which then resulted in two businesses which provided good income to allow us to save.

And ultimately, we give all the glory to God. For some reason, He chose to give us the parents He did, the financial upbringing He did, and to put us in the financial position He has. We don’t deserve any of it, and He could take everything we own away from us tomorrow. It’s His money and His house and we want to be wise stewards of what He has entrusted to us, for as long as He chooses to entrust us with it.

I write all this not to bring glory to ourselves, but to inspire you. We’ve made many mistakes along the way. There have been many struggles. But we have seen so clearly in our own lives that making short-term sacrifices in order to accomplish long-term goals can be so rewarding. And I’ve shared the details of our story in the hopes that it will encourage you — in whatever financial situation you’re in — to set goals, stay focused, think outside the box, be creative, and reap the fruits of your efforts and diligence.


Article printed from Money Saving Mom®: http://moneysavingmom.com

URL to article: http://moneysavingmom.com/2010/04/how-we-paid-cash-for-a-house-part-2.html

URLs in this post:

[1] started a few businesses in the past: http://moneysavingmom.com/2009/10/becoming-a-workathome-mom-its-work.html

[2] the “perfect” house.: http://moneysavingmom.com/2010/07/a-dream-come-true-paying-cash-for-our-first-home.html

[3] discovering Dave Ramsey: http://moneysavingmom.com/2010/01/paying-cash-2.html

Copyright © 2009 Money Saving Mom. All rights reserved.