What Could Possibly Happen In Five Debt-Free Years?

Five years ago today, we made our way to Dave Ramsey’s Financial Peace Plaza. It was for the sole purpose of sharing, on Dave’s radio show, the story of our debt-free journey. We were finally able to scream, “We’re DEBT FREE!” on air.

After the call, we signed the wall in Dave’s lobby:

"$95,283.00 in 51 months! We're Debt Free in STL, Wesley & Mindy"

This was before the live video stream and audio headsets of today. We called him from a real phone, which was sitting on a stool in his bookstore. He’s come a long way since then and so have we.

We are now solidly in Baby Steps 4, 5, and 6, but the last five years have been interesting. About 6-9 months after BS3 was complete, I switched jobs and took a significant pay cut. Little did I know at the time how much God was going to bless our family through this move. Being debt-free gave me the peace to make that decision confidently. Two years later, I was promoted twice at work within a 15 month period. I work and interview a lot better without the stress of debt on my shoulders.

Also, during the past five years, we completed a kitchen/dining room renovation. We did a lot of the work ourselves. Because we upgraded some of the finishes, it cost about double what we had originally planned, but we cash flowed it all and are enjoying it now without any loans. More than enjoying it, I’m kind of impressed with it, since I also designed it.

In February 2007, when we started our debt-free journey, we had a five-figure negative net worth. 51 months later, when we became debt-free, our net worth was positive and just over the six-figure mark. Today, we have been able to take that original negative net worth figure to the positive side and multiply it by ten. God is truly good.

The funniest part of the debt-free scream is that it almost didn’t happen. I didn’t think to contact Dave’s office and set it up weeks in advance as he now tells people to do. The day before, we were at my Dad's, about 30 minutes south of Nashville. We had just arrived there from our first ever debt-free, week-long vacation in the Smokey Mountains. We had been debt free since May and planned to do our debt free scream the next day. I was laying down in the afternoon. Suddenly, I jumped up and thought, I should probably call them and let them know we'd be there tomorrow. I called and left a message. Thirty minutes later, I got a call back and it was all set up. We'd be on the air the next day, live from the lobby. It wasn't until I got home and told my friend, Jen, about what happened when I realized how fortunate we were to have done our debt-free scream on such short notice.

I’ll close this with the Five Principles, I learned during Dave Ramsey's "The Legacy Journey" live broadcast:

“While earning an income over an extended period of time, you will develop a level of wealth if you follow these five principles.

1. Live on a written budget.
2. Avoid debt.
3. Foster high-quality relationships.
4. Save and invest.
5. Be incredibly generous.”

I’ll just add, if I can do this, I know you can too. Follow the Baby Steps…..

Follow this car to Financial Peace Plaza....

Was this really that long ago? (Addendum)

Addendum: same ROE as before: Red text denotes current thoughts & notes.

As I was preparing Part III of this series, I found a paper copy of the letter.  Part III wasn't in the paper copy, but only on the electronic word document that I had originally found.  This post was at the end of the paper copy, but since it was not germane to the Recovery Mission, I decided to save it for later. Now is later.

Also, I should state that it wasn't long after the "mission" that we received the newer vests with plates...

Architecture and Food - Two of My Favorite Things

At least the trip allowed me to see many residential areas of Baghdad. They build their homes in a much different fashion than ours in the States. As wood is at a premium, they build with block. The lots are smaller than a typical American lot, and are square, or close to it. They do not have large lawns, but use the lot entirely for the building. Usually the back and two sides are built as plain walls, stucco over the block. The front facade is where the exterior design elements are, and where the money is spent. Usually, there is a 6-8 foot wall around the front, with the space behind it carved out to create a courtyard, balconies and various other design elements. The front facades are very unique from home to home. Some facades incorporate marble columns with ornate capitals. Even the window designs are unique and vary in the shapes they create, unlike ours which are ordered directly from the double-hung catalog. With the many variations in design, both in elements used and space created, the homes are distinct and differ in character, despite the fact that most are similar color and materials used.

I am sure it won't be long before there is a McDonald's on every corner here also. After all, there has been a Burger Kind on BIAP for over a month already. If you want a Whopper, sometimes it can be up to a three-hour wait. I have been able to try some of the Iraqi cuisine a few times. Most everything I have had has been pretty good. I even had some Iraqi pizza, which is different than American style.  It was good though.

One of the things I miss about home is the change in weather, if you can believe that. Since we left the States, the only weather we have seen is hot and sunny. No rain, no thunder, no lightning. I think when I return I will probably go outside and jump in a puddle the first time it rains.

Anyway, I should end this. Thanks for your support, thoughts and prayers. At least for me, Iraq is not as bad as it is probably portrayed on the nightly news. I have actually met some very nice Iraqi citizens, and enjoy learning about their culture and views, especially political (now that they have that freedom). They enjoy learning about America also.

Love and prayers, Wesley

When I used to write things like this back to the States, it was mostly in email and shot out to all my contacts. I labeled the subject line, "News from the Engineer Front".  I always signed them "Love and prayers".

A few years ago, I was printing the emails off to PDF files and saving them to my hard-drive. Then I would delete that email. My plan was to eventually print each one to paper and place them in a three-ring binder for my children. At the end of 2006, my hard-drive crashed and I lost a number of them. I did not have them backed up and learned my lesson. For the sake of Part III, I'm glad I found the electronic version of this letter.

Of course, as the years go by, and other events take precedence in my mind, I don't remember as much about what happened day to day "over there". Early on, I had started a journal, but it did not stick. It's so easy when we are going through life to think that we will remember the really significant events later.

What are you experiencing today while thinking, "I'll need to remember this later"?