We have moved again! Our new address is:
Ryan, Ashley & Tucker Houck
P.O. Box 1784
Ames, Iowa 50010
We're doing something really different this time, even for us! We have moved to Nevada and in with my grandparents, Boppa & Grandma Huhn. Or as we've affectionately dubbed them (as of recently)
B&G. Here is our thought process behind the move.
Dump our Student Loans: It is our hearts desire to kick our student loans out of our lives, which thankfully is our only debt. No car payments, no credit card balances...just those pesky student loans! We have roughly $45,000 left on SL and then we'll be completely debt FREE! (minus our rental units)
About three years ago we took a class offered through our church called Finacial Peace University by Dave Ramsey. It really had an impact on us. He is a financial guru with a passion for getting people out of debt and living like no one else, so you can give like no one else! So, we decided to take to heart his words and live like no one else (a.k.a. living with our grandparents) so we can live like no one else later on.
Education: We want to help pay for (or as much as we can) our children's education...and who knows how expensive that'll be in 18 plus years!
We realize this makes us huge dorks, but hopefully smarter dorks in the long run. Over the last month when people have asked us where we're living we've been a little embarrassed to tell our current living situation, the reactions have been anywhere from, "wow, thats great!!" to " ohhh...why would you do that?!" But, we've starting to really embrace it. We are sick of being a slave to the lender. ( Proverbs 22:7.)
With a little determination, sacrifice and ALOT of discipline we hope to get there soon!
Here are Dave Ramsey's Baby Steps:
Baby Step 1
$1,000 to start an Emergency Fund
An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen. Learn more
Baby Step 2
Pay off all debt using the Debt Snowball
List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first. Learn more
Baby Step 3
3 to 6 months of expenses in savings
Once you complete the first two baby steps, you will have built serious momentum. But don’t start throwing all your “extra” money into investments quite yet. It’s time to build your full emergency fund. Learn more
Baby Step 4
Invest 15% of household income into Roth IRAs and pre-tax retirement
When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth. Learn more
Baby Step 5
College funding for children
By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now. Learn more
Baby Step 6
Pay off home early
Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments. Learn more
Baby Step 7
Build wealth and give!
It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live! Learn more