Welcome to our blog! Family on a Dime was created to inspire families to reach their goals by using their money mindfully and with purpose. My name is Christy and along with my husband John, we would like to share our experiences with you. We recently paid off our home, and we’re now completely debt free! It is such an amazing feeling. It brings a sense of stability that we’ve never known before. We want to help you experience that same joy! We are your typical American family. My husband works, and I stay home with our five children. There is nothing exceptional about us. We haven’t been gifted large sums of money. We didn’t win the lottery. Trust me – if we can do it, you can too!
In the past, we behaved like most Americans. We were living paycheck to paycheck. We had a balloon loan looming over our mortgage. We also had numerous credit cards, all carrying high balances. We never seriously tried to save for retirement. It always felt like we were barely keeping our heads above water. When my husband got paid, we would use that money to pay our bills, and then we would be broke. So, we had to use our credit cards to finance our day to day expenses until next pay day. At the time, it all seemed normal. I now realize how much unnecessary stress we were living with.
After the stock market crash of 2008/2009, we finally decided to get serious about our debt. We stopped making excuses. We stopped spending on impulse purchases. We decided that securing our financial situation was more important than having a bigger house, a nicer car, or the trendiest clothes. I’m not going to lie, it has been a struggle to maintain a frugal lifestyle for so many years. My husband and I didn’t always see eye to eye, and mistakes were made. And we still have lots of work to do. Our retirement savings is dismal. We still struggle with paying medical bills, and can’t seem to keep our HSA funded. And the temptation to overspend is ever-present, especially with online shopping making it so easy.
Hopefully sharing our triumphs and failures in the coming months can help guide and encourage you on your journey!