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how to pay off mortgage

How to Pay Off Your Mortgage in Five Years with Andy Hill

Finances are a touchy subject that stresses the hell out of all of us. It can especially affect our relationships. Almost one out of every two marriages end in divorce, sixty percent of which are due to financial stress. For most dads, our main goal is to pay off our home mortgage. This seems impossible. How can we pay of a thirty-year mortgage in a matter of years? Today we have Andy Hill from MarriageKidsandMoney.com to tell us how he is paying off his mortgage in less than five years.

Pay Off Your Mortgage in Five Years?

Andy Hill and his wife have been married for seven years. They have two kids, a five-year-old girl and a three-year-old boy. Andy and his wife have been working hard since they’ve been married to create a life that is exciting and live their dreams. So when they bought their dream home, they knew they didn’t want to have the $200,000 debt hanging over them. They set an ambitious plan to work to pay the entire mortgage off in five years.

Today, they have only $29,000 left, which will be paid off at the end of the year. It sounds impossible, or painful, but Andy says it’s the little things that add up to big savings in their household budget that they funnel into paying off their house.

Budget Party

The first step is to get the spouse on board. This is not always easy, but Andy and his wife have a “budget party” once a month to discuss the budget strategy. Andy says not to start the conversation with what must be sacrificed. Make sure you highlight the benefits first. Imagine a life without a house payment? Where could you go? What could you do? Then do a detailed budget and see where all the money is going and start making cuts.

Where families can save money

  1. Pack lunches. You can stay healthier and not spend money this way. Andy saves $100 a month by packing his lunch for work.
  2. Analyzed grocery spending. Andy’s family spent an average of $900 a month on food. To cut back on this expense, they now shop once a week with a list and they stick to it. They switched from Kroger to Aldi and save about $300 a month now. Switch from more expensive stores to discount stores.
  3. Become an aspiring minimalist. Don’t let clutter accumulate. Don’t let things pile up in garage. Look around the house? Does anything you’re not using have value? Sell it online or have a garage sale. Spring cleaning can become profitable.
  4. Cut off the cable. There are so many alternatives to traditional cable. Look at your bill. Analyze the fees. Call and negotiate. Call all providers and find the best deal. Cut back to just internet service.
  5. Go to different stores for bulk items. Things like diapers and baby wipes tend to be more expensive at the grocery store. Go to bulk supermarkets like Costco for these items.

When you feel good about your money, you can do great things that make you feel like a great dad.

Structuring a Household Budget

Andy Hill and his wife set aside money for everything. They include date nights, vacations, and entertainment. Here is how he structures his budget categories:

  1. Transportation (car, public transport)
  2. Utilities, bills, cell phones
  3. Entertainment (game tickets, babysitters, dinners)
  4. Saving up for kids’ college
  5. IRA, retirement
  6. Food
  7. Giving (donations and charities, gifts)
  8. Health, doctor
  9. Home maintenance and improvement
  10. Kids activities (parties, swim lessons)
  11. Miscellaneous or forgotten stuff
  12. Emergency (three months of expenses saved up in case of job loss, natural disaster, etc.)

Andy Hill’s Dad Wisdom

Andy says it’s important to create dreams for yourself and put them out there. Set specific dates to get them done. Ask yourself how your financial goals can support the family you want to have. Do you want the next great thing? Or do you want to give to the world and have new life experiences?

 


Resources

==>NEW!!<== Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Join our Dad Edge Group on Facebook Request Entry Here

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Download a free chapter from: THE DAD’S EDGE on UNLIMITED PATIENCE HERE

Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Download this free resource on:  CONNECTION WITH YOUR KIDS

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Andy Hill’s Links

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protect financial future

Why You Should Never Leave Your Finances on Auto-Pilot

In our previous episode, financial mentor Damion Lupo shared some mind-blowing information about Wall Street. Most of us leave our money on auto-pilot or trust it to a financial advisor at our investment company. We don’t have time to examine our investments and how they are being managed, but not paying attention to our money can be dangerous. Today I talk about three ways we can protect our financial future right now.

  1. Eliminate fees
  2. Develop multiple streams of income
  3. Diversify your investments

Did you catch this episode? Transcending Financial Problems Once and for All with Damion Lupo


Total Control Financial and the QRP

Damion Lupo and his team have an exclusive offer for The Good Dad Project audience. Go to totalcontrolfinancial.com/gooddad to get the QRP report, a free ebook, and the first year’s fee will be waived. You have nothing to lose. Take the first step toward true financial freedom.


Create an Epic Life

join The Dad Edge Alliance

CLICK HERE!

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Resources

==>NEW!!<== Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Join our Dad Edge Group on Facebook Request Entry Here

We have new Dad Edge T-Shirts!  Grab one HERE

Download a free chapter from: THE DAD’S EDGE on UNLIMITED PATIENCE HERE

Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Download this free resource on:  CONNECTION WITH YOUR KIDS

Links

Aaron Walker

Working to Live, Not Living to Work with Aaron Walker

Can we live a life of purpose and still make a living to support our families? Can we do the work that we love and still be profitable? The answer is absolutely YES, and Aaron Walker from View from the Top is here to tell us how.

Aaron Walker

This is Aaron Walker’s second time on the Good Dad Project. You may remember his awesome episode The Ultimate Guide to Work/Life Balance way back in November 2015. For those of you who don’t know, Aaron Walker is a hugely successful businessman and life coach who has inspired many through his leadership, mentorship, and consistent pursuit of excellence. He enjoys helping others and believes experience is a great teacher.

Aaron values his time spent with family and friends. Sharing the past 36 years with his lovely wife Robin has been nothing short of spectacular. His two fantastic daughters and champion son-in-law have given Aaron & Robin five beautiful grandchildren. When time allows, Aaron enjoys hunting, fishing, golf, and is an avid reader.

Aaron Walker grew up in a dirt-poor family. They lived in a $6,500 house, which they eventually lost to bankruptcy when alcoholism took over his father’s life. His parents would fight about drinking, and to this day, Aaron despises alcohol. His mother gave his father an ultimatum: either quit or she and the kids would leave. Aaron said his father loved his family more than drinking. This helped his father to quit and turn the family around. Aaron says his dad was his best friend, and they hunted and fished together every day of his life. Still, Aaron wanted to make more of himself, and he did. He was so successful, he retired three times.

Relationships

Aaron admits that even he gets down and depressed. This is why we all need to have people around to encourage us and help us up. Sometimes we need people to slow us down. Sometimes we need people to speed us up. We need wise counsel. This is why Aaron has been doing mastermind groups for 20 years.

Isolation is the enemy of excellence.

Mindset

Aaron says that being positive is a choice. You can choose to be optimistic about circumstances, or pessimistic. You can lead a life of significance, or a life of ambition. Aaron knows from experience that chasing material things won’t satisfy you like you think it will. What matters most is people.

We work to live, we don’t live to work.

Build Boundaries

Aaron sets strict boundaries to make sure his life stays on track. He doesn’t allow women to connect with him on social media. He doesn’t get into a car or dine alone with women. This is a foolproof way to keep his marriage safe, but these boundaries need to be set in all areas of your life. What do you value the most? What do you wish to protect at all costs?

Whatever those boundaries are for you, set them.

Source of Energy

Joy and enthusiasm come through Aaron’s voice whenever he speaks. Aaron has a deep faith in God and he says he draws his energy from his worship. He reads scripture every day and is highly involved in church activities.

Aaron also suggests the following tips to protect your energy levels:

  • Make time to read.
  • Stop watching news, it’s not healthy.
  • Listen to music, blogs, podcasts, Ted Talks.
  • Choose what you put in your mind.
  • Choose the people you spend time with. Are they positive influences?
  • Choose who your kids are around.
  • Choose the mindset to set yourself free.

Dad Wisdom

One of the most important boundaries we as dads can set is to not allow anything to intrude on our time with our kids. Most dads get home and think they should use that time to send ten more emails, or call five extra clients. Aaron says to turn it off.

Don’t’ squander your kids’ time growing up.

 

Till June 20th Pre-order Aaron Walker’s book

and get two special bonuses!

Click here > viewfromthetop.com/book


Resources

==>NEW!!<== Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Join our Dad Edge Group on Facebook Request Entry Here

We have new Dad Edge T-Shirts!  Grab one HERE

Download a free chapter from: THE DAD’S EDGE on UNLIMITED PATIENCE HERE

Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Download this free resource on:  CONNECTION WITH YOUR KIDS

Links

Aaron Walker’s Links

View from the Top: Website

Twitter

Facebook


 

pay off debt

How to Pay Off Debt and Create Financial Security for Your Family with Jeff Bouwman

60% of parents have at least three forms of debt with the average household debt being around $33,000. Do you fall into this bracket? How do you get out?

Jeff Bouwman is a CPA. financial advisor, a husband and a dad to three little girls. He has just released his book, Your Income, Your Life and is on The Good Dad Project to tell us his experience of achieving what most Americans would consider a successful life, but was, in reality, a stressful financial black hole. Listen to how he got out of debt, quit his corporate job, and now enjoys the life he was truly meant to live.

What appears to be success from the outside is not necessarily a happy life on the inside. Jeff Bouwman spent most of his life following the path he thought he was supposed to take. He excelled at school, graduated from college, and worked hard to provide for his family. Jeff earned more and more money each time he moved up the corporate ladder. He also spent more and more money, buying stuff to fill a void that could never be filled. When he and his wife started a family, they built their dream home and racked up a 100 K debt.

Jeff was unhappy and full of anxiety. He felt pressured to work harder and would put in 60-70 hours per week to maintain the lifestyle he and his family had become accustomed to. He was rarely home with them, and when he was home, he was not emotionally or mentally present. When he was at work he felt guilty for not being with his family. When he was with his family, he felt guilty for missing work.

One night, for the first time in their whole marriage, he and his wife finally sat down to talk about money. They reviewed their family budget and discovered where they were throwing money away. They made some changes to the way the spent and saved money and reduced the cost of their lifestyle. Jeff noticed that because they worked on it together, the budget didn’t feel like much of a sacrifice.

With a little discipline, they saved thousands in payments and interest and paid off 75% of their debt in less than a year. They also began an emergency fund, which allowed Jeff to free himself from his demanding job and take 9 months off to be with his family.

Jeff Bouwman now works for 50% less income, but is happier and gets to spend time with his daughters every day. He discovered that consciously managing money as a team brought his family closer. His book, Your Income, Your Life, shows you how to define how much money you truly need to live the life you want, how money is about choice, and that money can be a catalyst to improving your relationship with your family.

Jeff’s Amazing Offer

Jeff is committed to helping other families get out of the same financial trap he was in, and is so intent on his mission, he’s giving away copies of Your Income, Your Life to anyone who wants one. Send an email to jeff@yourincomeyourlife.com and he will send you a FREE digital copy of his new book!

 


RESOURCES

==>NEW!!<== Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Join our Dad Edge Group on Facebook Request Entry Here

We have new Dad Edge T-Shirts!  Grab one HERE

Download a free chapter from: THE DAD’S EDGE on UNLIMITED PATIENCE HERE

Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Check out this free resource on:  CONNECTION WITH YOUR KIDS

Links

Connect with Jeff Bouwman

Website:

Order Your Income, Your Life in paperback:

Social Media:

 

chores and allowance

Chores and Allowance: How to Teach Kids Money Management

In a recent Good Dad Project episode with Jim Sheils, we talked about how kids aren’t taught how to manage money in school. It’s up to parents to make sure our children know what it means to work for a living and how to manage the money they earn.

I was against giving allowance until about thirty days ago. In this episode I share why I decided to give my kids an allowance for chores and how it changed the way our whole family thinks about money.


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RESOURCES

Grab a copy of The Dad’s Edge AUDIOBOOK on iTunes or Audible

GRAB A COPY OF THE DAD’S EDGE HERE

Check out our Dad Edge Group on Facebook Request Entry Here

We have new Dad Edge T-Shirts!  Grab one HERE

Check out a free chapter from: THE DAD’S EDGE on UNLIMITED PATIENCE HERE

Check out this free resource on: CONNECTION WITH YOUR SPOUSE

Check out this free resource on:  CONNECTION WITH YOUR KIDS

Links