How to thrive on half your income. (Homestead finances).This eloquent el·o·quent
1. Characterized by persuasive, powerful discourse: an eloquent speaker; an eloquent sermon.
2. response top and B who will be living on half of their salary once they move to their homestead (86/2:20) will have many of us shaking our beads in agreement, and hopefully will serve as an eye-opener for those about to embark on Verb 1. embark on - get off the ground; "Who started this company?"; "We embarked on an exciting enterprise"; "I start my day with a good breakfast"; "We began the new semester"; "The afternoon session begins at 4 PM"; "The blood shed started when the partisans a new adventure beyond the sidewalks.
There is no easy or simple way to get used to living on half the income you are now accustomed to having. Many, many families live on less than $50,000 a year. However, when you make the change to that amount, it is going to seem as if you are "broke" all the time. There is just no way you can do it without deeply feeling the differences. You are not going to be able to be comfortable in the same ways you are now. Be ready for that new state of affairs and you will be miles ahead. You are going to be able to buy half of what you can buy now, and "that is that." Your social position is going to change. That brings a nice freedom to you but also a mental adjustment. Be as prepared as you can be so that it doesn't shock you too much.
Prioritizing: Begin to carefully evaluate what is needed and what is wanted. As struggling homesteaders, you will need shelter, clothing, food, reliable transportation, money for property taxes, and cash for animal expenses. The degree of convenience involved becomes "want."
Transportation: You could probably sell the auto you are now driving and buy a $7,000 replacement. With the money left over, you could start a savings fund.
Savings: You are trying to get "positioned" for the change by accumulating lots of supplies and equipment now. That's okay, but it's not going to much of a difference once you have made the change-over. No matter what you purchase now, there will be even more that you discover you want as time passes. You should probably stop accumulating things at this point and start a savings account Savings Account
A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates.
Notes: to use after you move onto your property.
Homesteading Broadly defined, homesteading is a lifestyle of simple, agrarian self-sufficiency. History
In the United States, the Homestead Act (1862) allowed anyone to claim up to 160 acres (64.7 hm²) of land. is a continuing struggle. The challenges and rewards some of what attract you to homesteading, aren't they? Well, as you engage in the struggles, you will realize that financial deprivation DEPRIVATION, ecclesiastical Punishment. A censure by which a clergyman is deprived of his parsonage, vicarage, or other ecclesiastical promotion or dignity. Vide Ayliffe's Parerg. 206; 1 Bl. Com. 393. is one of the major ones. Only a very wealthy person could set up a self-sufficient homestead with all the buildings, supplies and equipment needed; buy animals; fence in Verb 1. fence in - enclose with a fence; "we fenced in our yard"
inclose, shut in, close in, enclose - surround completely; "Darkness enclosed him"; "They closed in the porch with a fence"
2. the animals; care for the animals and make repairs on everything that breaks down. All the rest of us have to make choices every day about what project needs the money the most. It is a fluid situation, changing day to day and hour to hour. Often, it will boil down boil 1
v. boiled, boil·ing, boils
a. To change from a liquid to a vapor by the application of heat: to, "Which problem is causing me the most inconvenience right now?"
You cannot know the answers to those questions now, so it is wise to have money in the bank to cover the expenses of the answers as they arise. might accumulate Accumulate
Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security things now to cover almost all contingencies except the one that bothers you the most after you settle into your property.
Animals: Since you want to have livestock on your homestead, you should prioritize pri·or·i·tize
v. pri·or·i·tized, pri·or·i·tiz·ing, pri·or·i·tiz·es Usage Problem
To arrange or deal with in order of importance.
v.intr. the expenses of their care. Don't even think of getting the animals before you have in place adequate housing and fencing fencing, sport of dueling with foil, épée, and saber. Modern Fencing
The weapons and rules of modern fencing evolved from combat weapons and their usage. for them. Without that, the time and effort you will spend on protecting and retrieving the animals will become a major problem. Good advice would be to wait for a year before getting the animals. In that year, observe the drainage on your property. Observe wind patterns. Observe traffic on the road. (Many animals do not like to be near road noises and some motorists are abusive Tending to deceive; practicing abuse; prone to ill-treat by coarse, insulting words or harmful acts. Using ill treatment; injurious, improper, hurtful, offensive, reproachful. to animals.) Observe sunlight patterns. Observe wildlife trails. All this information will help you make better decisions on where to house your livestock and what kind of shelters to build. Keep in mind that livestock feed has distinct storage requirements. You must keep mice and other varmints out to the best of your ability. Cutting corners there will cost you time and money later. Budget adequate money for that expense.
Clothing: Don't buy any more clothing for one year. Not any. Put anything from the clothing budget into the savings account. At this point any more clothing is a "want" not a need. Differentiating wants and needs becomes more and more important as income is reduced. Make a challenge out of doing that.
Debt: If you have debt, pay it off before you move. The stress of carrying debt in a reduced budget is crushing crushing
deaths of newborn animals, especially those in litters, caused by the mother lying on them accidentally. Contributed to by weakness of the neonate or awkward accommodation. A problem in piglets and puppies. Called also overlying. to the mind and spirit. Don't charge or finance anything else before you move. Debt is a trap that will ruin your homesteading life.
Anyone facing serious reduction of income is wise to do an attitude check and become intensely conscious of the needs vs. wants issues. It is also wise to stop accumulating things and start saving. Though we can't know what lies ahead of us in the future, we can be certain that there will be expenses involved and that having savings on hand will be much appreciated when they come.
Thinking we can see the future is a mindset mind·set or mind-set
1. A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations.
2. An inclination or a habit. that implies we are in control ... and we are not. Homesteading teaches us that. We go into it wanting to be self-sufficient and "do-it-myself-ish." As we experience the trials, hardships, adventures and rewards, we learn that we cannot do it ourselves and we cannot be self-sufficient. We all need help from time to time. We need interaction with others who share the dream. We need input to keep the dream alive. Best wishes to you as you begin your adventure.
Last advice: Be as prepared as you can be, but be ready to relish and enjoy the surprises that you were hardly prepared for at all!
CHURCH MEADOW meadow
grassland, used for grazing and/or haying.
see thalictrum. FARM