Debt Free

One of the biggest reasons that we love our Tiny House Homestead is that it is helping us on our journey to becoming self-reliant and debt  free.

We have a lot of goals we are always working on, but when we moved out to our homestead we determined that we would do everything without taking on new debt. In addition we wanted to pay off existing debt as fast as we could. We are not debt free, but are always working towards this end by paying off old debt and staying away from new debt. This is one of the reasons that it takes us so long to get some projects finished around here, but we have felt blessed to go at the speed that we have been able to go at. It is also one of the reasons that we decided that part of our plan needed to include a home business to help pay off our debt faster.

I personally love this debt snowball calculator. When you go into this calculator it will calculate highest interest rate paid off first, but you can change that at the bottom. I personally like to calculate it with the lowest balance paid off first.

I think that part of our self-reliance journey has been learning as much as we can.  As we learn how to do new things we feel empowered. Its nice to know I can do something myself instead of paying someone else to do it. When we build our kitchen table we saved hundred of dollars by buying the supplies and building it ourselves and in the process we were able to build it exactly the size that fit our space.

Financial/Self-reliance Goals for 2017:I am going to try to write more specific goals for this coming year. Although the list for this year is long, I wanted to put everything on the list that I wanted to work on, however this list is not all the projects that we will be working on. As always there are dozens of homestead projects that we work on all the time. We probably won’t get to everything on this list, and it we don’t then we will just move them to the next year.

  • Continue to live without going into any new debt including cash flowing the kids college classes and the car repairs.
  • Make extra payments on our property.
  • Build up an emergency fund.
  • Launch our home business.Completed
  • Finish fence for the pasture and seed the pasture.
  • Add trees to our orchard. (As of right now we have one apple tree in our orchard and one apple tree in the perennial garden we fenced in during 2016.)We were able to add 5 new trees this year. Hopefully we can add even more, but we have reached our goal for the year.
  • Fence in orchard.
  • Add ducks to the orchard.Completed
  • Build Duck coop.
  • Add raspberries and strawberries to the perennial garden.Completed
  • Add pergola to the perennial garden.
  • Build a cold frame.
  • Work on our greenhouse.
  • Paint our shed.
  • Build a windmill.
  • Paint the house.Completed
  • Build a cold frame using bricks we got for free in 2016.
  • Get a water tank.
  • Hook up the water heater to the large propane tank.
  • Finish the bathroom.
  • Skirt the house. We finished skirting the portion of the house that we planned to this year.
  • Put wood panels in the family room ceiling.
  • Insulate and panel the library.
  • Build bookshelves in the library.
  • Add bees to our homestead.Completed
  • Start paddock for the chickens.
  • Move the t-posts from the unsuccessful raspberry garden to help finish fencing in the goat paddock and to fence in the orchard. Completed January 2017

Financial/Self-reliance Goals for 2016:

  • Continue to live on cash only Successful
  • Save money for future projects
  • Build a green house for our homestead
  • Add more perennial plants and trees to our homestead.Successful
  • Continue to work on a home business.
  • Continue to add to our food storage and learn how to eat more long term storage foods.
  • Pay off the addition out our tiny house. Completed
  • Continue to climb out of debt with a focus on paying down the debt on our property. We were able to make two extra payments. Every little bit helps.
  • Add more animals to our homestead.Successful
  • Fenced in perennial garden and added many plants to the perennial garden.
  • Connected the two buildings making one house.
  • Built a new chicken coop.
  • Fenced in a chicken yard.
  • Painted the office.  Successful
  • Started planning our home business We started planning our home business, but we have not competed this project.
  • Started fencing in a new goat paddock.
    *items in red were accomplished in addition to the goals we set for 2016.