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For the first time in my life, I have bought an older home.
Jenn and I have owned three other houses – two of them brand new and one was four years old.
Now we have purchased a home that is 28 years old.
Yeah, that wood paneling with wallpaper over it that looked like wedding cake was beautiful. The two different leaks in the roof were nice. The discovery of a pile of trash underneath the house was great.
With the work that we wanted to accomplish on the house, we decided to delay moving in until we had addressed many of the known issues. We have worked tirelessly for almost two months to get the house ready, and we finally moved in last weekend.
We're tired! It has been nearly a full-time job getting this house ready. I spoke four times at NewSpring Church on Sunday, February 25th, and when I finished the fourth message, I got into the car and drove to the house to work on the house. My days that I have taken off from my crusade have been spent at the house. As we worked on repairing the roof, I managed to smash my thumb to oblivion using a 22 oz Estwing hammer.
You may be considering buying and fixing up a house. You may be wondering if it would be worth the effort. I will tell you this – I am the son of a home builder, and it has been very difficult for me. I don't do this sort of thing EVER, but I kinda sorta know the general activity required.
I would say this, we have gained some significant sweat equity and learned a lot by fixing up this house, but I would not do this again for my personal residence. EVER.
It is amazing to me how much I have screwed up in the management of money!
Jenn and I lived for three years with a double income and no children and somehow managed to not only spend everything we made, but to also spend MORE than we made!
What an embarassing situation it was when Jenn and I stopped and looked at how we were managing money! I mean, we had both made a ton of money as professionals straight out of college, and we had very little to show for it. It was sad. It was humiliating. It was not fun.
When we turned 180 degrees and determined that we were going to manage our money God's and Grandma's way, we started winning financially!
One of the key reasons we changed our behavior was the fact that we had a daughter. I did not want to have to explain to my daughter that we could never go on vacation because we had acquired a load of debt. I did not want to be bound to a job "because it pays the bills".
As a result of our life-changing experience in the way we manage our money, we have had plenty of opportunities to teach our daughter how to manage her money.
Recently, I had the opportunity to interview my daughter as part of the Financial Freedom Class that I teach. You can listen to the interview HERE. The actual interview starts a couple of minutes into this segment.
If you can't tell, I am proud of what my daughter has learned! I keep telling her that she has more in the bank than 70% of the American population (who are currently living paycheck-to-paycheck despite the fact that they have earned more than $500,000 in the last 10 years!!!!!!).
Your child can start learning about money TODAY – even if she is only four years old!