HOmesteadmama....can you give us a 1 yr. report?

**frugalchick** · 11-01-2005, 08:21 AM

I have lurked here for months...I am a member, just don't take time to post, lol....I promise to more.

I read with GREAT interest ALL 17 pages of your 'From rags to riches,"...what a read! You have inspired me.......as I can see from other posts, many people too.......

I was wondering if you could write an update since it's been a year today since you began your 'journey.' Thanks for your consideration.

You are truly an inspiration to the frugality community!

**Shell** · 11-01-2005, 09:59 AM

What a great idea!

**homesteadmamma** · 11-01-2005, 10:06 AM

I'll do that later today. In a few mins. I'm taking the kids to music lessons. Thanks for asking.

**Michele Annette** · 11-01-2005, 10:40 AM

Sounds great! Can't wait to read it CJ!

**daddys3chicks** · 11-01-2005, 12:13 PM

I want to read too!

**hollyhill** · 11-01-2005, 01:18 PM

Ummmm, Where's the "rags to riches" story?

**djs** · 11-01-2005, 01:42 PM

Third sticky from the top.
Debbie

**sanderson76** · 11-01-2005, 02:29 PM

Can't wait

**Mom23boys** · 11-01-2005, 08:04 PM

Can't wait to hear the update!

**mom22grls** · 11-01-2005, 08:35 PM

me too!

**SHOPGIRL** · 11-01-2005, 08:39 PM

Gee...It's like we're waiting for the sequel!

**homesteadmamma** · 11-01-2005, 09:13 PM

Holly, here it is. From riches to rags and then back again

Dh wants to use the computer, so I'll post to this either later tonight or first thing tomorrow morning.

**hollyhill** · 11-02-2005, 01:15 AM

OH CJ!

I just read all of your "rags to riches" story.
I was almost crying and had to remind myself that it all happened last year and is over!

So many of your fears, emotions and feelings mirror mine.
Your discription about your glee over recieving a Turkey was exactly how I felt when a neighbour brought us one for thanksgiving.

I too have been so reluctant to ask for help, perhaps I need to break the silence. Dh has gone to the foodbank a few times at his school, but maybe I should swallow my pride and go to the local one in time for Christmas. Perhaps I might get another Turkey.

In some ways we were prepared for Dh unemployment and then his return to school, because we had no personal loans or outstanding credit cards and we had some EF. But we still had a morgage and I had no pantry or stockpiles.....So it has been very scary at times and I am very worried about Christmas for the children, we have nothing extra and no savings, only some student loan funds and a little bit of part-time income (I am doing some tutoring but Gardening has pretty well finished for the year).

I am going to go back over your story and take notes....and see what I can apply to our situation. That wil be more useful than wringing my hands and being unable to sleep.

And we will also continue to help others. Serve in our local soup kitchen and busk for the Salvation Army kettles again......

Thank-you for sharing your incredible journey with everyone.

**homesteadmamma** · 11-02-2005, 10:58 AM

Thanks Holly.

Its been just almost a year since dh officially retired. I've been asked to update so here it is.

One year update

The first few months following Jan. 31/05 were a bit tight financially. (Well actually the whole year has been a bit tight.)

It was a cold winter and we didn't have a long time to prepare for this, at least not has long as we wanted. One thing I would highly recommend - always have at least a 6 month stockpile. I can't stress that enough. PLAN, PLAN, PLAN!!!! We also had one extra person living with us for a couple months and lots of extra expenses we had not counted on. However, the outcome of that was very rewarding and although it was one of the most difficult time of our lives, I thank God now when I see the outcome.

As to dh, he eye has not improved and in fact he needs more surgery. That still hovers over us because he does not see the specialist until Feb./06 and then has at least a 6 month wait after that until more surgery. We are both somewhat discouraged over that part of all of this. We still do not know how much he will see out of his one eye after surgery. Only God knows the outcome of that. I continue to be the major driver which dh has really struggled with, however has no choice.

Summer was wonderful. I had dh working along side of me in the garden and he continued to work 2 days a week. I find dh more willing to talk over goals and plans now that he is retired. I personally think it's because his mind isn't on the huge jobs he use to do. (As a designer/contractor he had huge responsibilities when he was employed.) Throughout the summer we talked lots about our plans and goals and realized 4 things:

~we wanted to move (a total shock to both of us)
~we wanted to get our van paid off early to realize that dream
~we want to build up our home-based business. We've not done much with this over the past 2 years. Our plans are to start Jan/06. We plan on promoting our business more with business cards, possibly a website and visiting a number of tourist camps come spring. We are also planning on doing at least 10 craft shows fall of next year.
~we still wanted to travel

Having come to those 4 conclusions, dh decided he would work whenever called, no matter what it was. He continued helping the seniors here (something he loved doing) and then worked for a widower on a nearby farm. He was not happy pumping gas those 2 days he had been so we decided he would quit. He is now working 2 part-time jobs and enjoying both of them. We have no idea for how long, however we are putting every penny he makes towards our van debt.

Staying frugal has kept our focus on our goals. At times, we've gotten more frugal (such as right now), other times we've not been as frugal throughout the past year. Right now, were radical about frugality because of our main goal "to pay off our van". Staying frugal has helped us accomplish the following this past year. (Remember, our income now is under $25,000 per year. That amount includes dh's 2 pensions and any jobs he might work at part-time.)

~we've managed to pay off $10,302.00 in debt (van and tax bill). That amount is for 7 months and goes from Feb. to Sept. In fact, the interesting part in all of this, is we've paid off more in debt in these past 7 months than we had done before since occuring this new debt. I think it's because we've been really focused, only because we know the exact income coming in.
~we've managed to build up a stockpile that is close to 6 months supplies
~we have not incurred any other debt and continue to remain credit card free. It was tempting to apply for a cc during those leans months, however I'm so thankful we didn't.
~we have learnt to barter more
~I've learnt how to use up scraps of material for my quilting passion and to use what I have on hand, rather than always running to the quilting store for more. This has been a very difficult one for me because I love shopping for material. The more I have, the better it is.
~we've continued to learn more about gardening. We expanded our garden to twice it's size this past year and should we remain here (it is still undecided when), we plan on expanding it even more.
~we've managed to put 2 kids in music lessons, which includes travelling to another town.

Have there been some times when I've wished for a much higher income. YES!!! Have there been some times when I've wanted to have dh gone some days. YES!!!! I'm a very independant person and suddenly he was home doing some of the things I really enjoyed doing myself (like growing the cucumbers - whew there were some heavy discussions on that one!!!!

Have there been days when I've been discouraged and wanted to hit the mall BIG TIME, YES!!! However, as I look back I've learnt to be more content this past year. I've learnt that living simply has helped us reach our goal of dh retiring at 60. And although I have for years lived each day as it came, I'm learning more than ever to enjoy each moment as if it was my last.

Would I have liked to have this done differently. Definitely, without dh having to have eye problems and having a bit longer to plan. Would I recommend early retirment - definitely. It's incredible!!!