Man pays off mortgage in three years by working three jobs | General Homesteading Discussion | Forums

Real grasshopper and ant story! We have been living debt free for the last 30+ years. We did that by taking a chance on OURSELVES, some would say 'risking' the nest egg we built up and redirecting it towards our OWN 'efforts'. One can apply a LOT of efforts directly towards what will pay back directly to/for you. And the secret 'gain' in this is that one doesn't get taxed for one's own direct efforts (washing dishes, hanging clothes to dry, gardening, cutting firewood etc.).

This would have been a GREAT story if he has paid off a homestead instead of a 'house'. Maybe he will leverage the house to a homestead next?!?

KVR said
everyone thought we were crazy when we closed out our investments and chose to invest in ourselves instead of the market, now that we have zero debt, we need to start focusing on that again since we are not getting any younger, sad part is the biggest concerns for us is taxes and insurance, we currently pay almost 1500 dollars a month between those two line items, that's a big nut to crack.

Realizing that 'the more you make, the more they take' was working against us, we instead aimed at what I coined 'legal poverty' - living WELL, but below the 'poverty' line tax wise. This required that we made a very focused look at expenses and how we could meet needs as money LE$$ as possible. Living debt free releases one from home insurance requirements. Our choice to build with fire proof (adobe with tile roof) /resistant (fiber cement siding) materials takes care of a lot of fire concerns. Keeping a vehicle for years decreases license and insurance fees not to mention the HUGE sales tax payment that a new vehicles tacks onto the price. Choosing a location that bases its property tax on as small a % of evaluation (and increase adjustments!) as possible helps to decrease net out go.

When we sold and moved to our first 'homestead', our portfolio balances (real estate, cash, investments) were thrown out of whack to say the very least. But as we applied our efforts towards our own needs, we were slowly able to tilt the scales back more towards a happy balance of those items. 'Brain work' isn't taxed! the more you can thunk up alternatives, the better your chance to find and make use of ways that turn the tables in YOUR favor. GOOD luck .

nice guys both kvr and jain debt free..wtg!

I will be there again next month.  We had to buy an excavator(good descion)at zero percent to finish homestead earth works... but when its done it will go ( 2 years?ish).  Regardless next month I get a 4000 check from a network gig (beyond my usual workload) ..that money will pay of the 3k I owe on excavator and I will be free like you guys.  No debt period...Free!

Your right kvr.  business taxes are a pain...they seem to asess buisnesses higher then residnetial so you might be onto something torching (or maybe selling said business if you want to minimize a bit)

Our taxes are 1500/year.  Wife pays half, I pay half so that's the only money we really need to make from here on out.  I guess electric too. so that would be 1200/yr devided by two (this should go down in future with energy retrofits such as water wheel and biomass water heater that's planned).   So ...$750/yr for taxes and $600/yr for electric 1350/yr total .  I think I can do that. 

editing to add..that even electric not being paid would not be end of world.  We got solar lights...gravity feed water. Woodstove to cook and hat water....certainly doable..so really 750 all that is REALLY needed lol....

I got a kubota kx41-3v

amazing little guy.

off to use it now....got to finish leveling off a parking pad ..i got it mostly set but still requires a bit of sculpting....then we can get the car all the way in 😀