Day 3 | Tame your Finances
Welcome to Homesteading Bootcamp!
Today we are going to look at the importance of getting our finances in order -and not just learning how to budget, but what it means to find true financial peace.
Homesteading can be as frugal or as expensive as you want it to be. It’s not necessary to have the latest gear, but even the most money-conscious homesteader will find themselves needing to purchase livestock, equipment, appliances, etc.
Sit down with your current budget and list of goals you have created. Determine which goals will require substantial purchases, and which ones can be pieced together with your current resources.
If needed, re-work your budget and start a “homestead savings fund.” If all else fails and the budget won’t budge, simply stick with the aspects you can afford. It’s very possible to have a bountiful backyard garden for nothing more than the cost of a few packets of seed and a good shovel.
Tips to Get Control of Your Money
You Can’t Do it Alone
If you are married, you and your spouse are going to have to get on the same page when it comes to money, and, if you’ve been at odds, this can be really challenging.
Consider taking a personal finance class together, such as Dave Ramsey’s Financial Peace University, or, at the very least, opening up the conversation and really talking about what you both want out of life… and your budget.
And no, we don’t mean money. Give of yourself, your time, your talents In the words of Ruth Stafford Peale, “fin a need and fill it.” The best and easiest way to stop focusing on what you are missing in life is to start focusing on what you can do for others. So, volunteer at your kids’ school or at your church, spend a few hours visiting with residents of a local assisted living center, serve food at a local food bank, or become a mentor to at-risk youth.
Less is More
Our consumer-driven culture is SO ingrained in this idea of more, more, more. Bigger houses, better cars, wider televisions with more channels, and the very latest gadgets and electronics. As Dave puts it, “we spend money we don’t have to buy things we don’t need to impress people we don’t like.” Our thoughts are so consumed by wanting that next big thing that we rarely take the time to even enjoy what we already have.
Spending Is Not Saving
To be honest- this is often the biggest challenge! You may love the thrill of bargain hunting, but just because something is a hot deal, doesn’t mean you’re actually saving money. Because spending is not saving!
Don’t Listen to the “Experts”
There are an endless number of people or companies offering up their “expert” opinions on where or who you should spend your money, and the scary truth is that the vast majority of them don’t have your best interests at heart. Don’t take advice from someone just because they seem to be an expert.
Stop Taking Advice from People who are Broke
The societal pressure to keep up appearances can be fierce and it is really easy to buy into the notion that in order to maintain a certain standard of living, you must spend money on certain things. We see people around us with better cars, bigger TVs, newer kitchens, the latest iPhone, and nicer clothes and think “if they can afford it then I can too.” We get so caught up in the image of success that we fail to realize that, many times, the people we are emulating can’t afford it either! In other words, we need to stop taking advice from broke people!