Small Home Living: Finances

Finances have definitely played a part in our decision to stay in our small home. When we first got married, we made the decision to live on my husband's salary and save mine. We also made some decisions to pay off the remainder of his truck lease and a couple of other small things.

We also started learning abut Crown Financial Ministries. We would listen to the radio show at the time and really made some significant changes to how we managed our money. Both of us are extremely passionate about the topic of personal finance. We set up a budget - a multi-page Excel document that we continue to use to track all of our spending and saving. As we learned more, we began to change our perspectives and our financial goals.

We started following the what was then called the Crown Money Map. The CEO of Crown at that time, Howard Dayton, developed this map. Howard Dayton now heads up Compass and continues the radio show as "MoneyWise". We've followed the steps and destinations on the map. To see it for yourself, it can be downloaded after entering your information here: Compass Map.

We started adding extra to our mortgage payment early on. Once we made the decision we were staying in our house, we really got excited about the possibility of paying off our mortgage early. We still have this goal in sight and have become even more dedicated to doing this as soon as we can. We've already taken a number of years off our mortgage by adding extra principle and feel strongly that this is the right decision for us at this time.

Have you read or followed any great financial advice over the years? I know Dave Ramsey is also wonderful. How has this information influenced where you live?

Comments

Sewing Mom said…
Love listening to Crown on the Radio. Our lives are slightly different, so have never had a home and debt, or much to lay by...but I do appreciate the purpose of a budget, which is essential on a meager income. God says much in His word about finances, so we strive to follow His expert advice! =)

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