Dollars & Debts Interview Series - Marriage Kids & Money- pic

Dollars & Debts With Andy @ Marriage, Kids and Money

My Strategic Dollar Dollars & Debts Interview Series, Guest Posts 3 Comments

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Today I have another post for the M$D Dollars & Debts Interview Series. This interview features Andy over at MarriageKidsandMoney.com. Enjoy! 

Dollars & Debts Interview Series – Introduction

Andy Hill, a mid-30’s father of two, pens the MarriageKidsandMoney.com blog and hosts the weekly Marriage, Kids and Money Podcast taking you through the trials and tribulations of being a young parent and husband who is planning for his family’s future and winning with money. His personal finance focused articles have been featured in Business Insider, AOL Finance and Rockstar Finance.

When did you start learning about money?

I’ve been a big fan of the freedom that money provides for nearly my entire life. Even as early as 8-years old, I remember my Mom signing me up for my first savings account.

I earned money through household chores and the super lucrative lemonade stand.Click To Tweet

With that money, I’d save some and spend some on the things that made me happy as a kid (mostly video games, toys and candy).

After a series of adult-sized paychecks in my early 20’s, I realized that earning money and saving some of it wasn’t enough to attain the real freedom I was seeking. The freedom that comes with owning your time. I dove into books like Rich Dad, Poor Dad and the Total Money Makeover, they helped me realize that there is a lot more to money than just working hard and saving.

What got you started on your financial independence journey?

Life’s for living. When you’re financially independent, you have a lot more time to do what you want, when you want and for how long you want. That is what gets me excited about achieving FI.

As a father to two small kids, more time is always what I crave … more time to watch them grow and to make memories together. I want my kids to remember me as the Dad that was always there for them when they needed me most.

Every day I work on the Marriage, Kids and Money Podcast, I’m super motivated through my interviews with millionaire entrepreneurs and early retirees. I ask them how they reached financial independence and learn something new every week. Their stories inspire me and keep me moving down the right path for my family’s future.

How much debt did you have?

We’ve been consumer debt free from nearly the beginning of our 7-year marriage. In 2013, we bought a house with a $200,000 mortgage.

How much have you paid off? And what steps did you take to do it?

That $200,000 mortgage is now down to $27,000. It’ll be paid off in December.Click To Tweet

In short, the 5 steps we took to pay it off included:

  1. Getting a 15-year mortgage
  2. Decreasing our living expenses
  3. Living on a monthly budget
  4. Applying additional principal payments each month
  5. Pouring “found money” onto the mortgage principal (bonuses, tax returns, craigslist sales, side hustles, etc.)

What are your money goals for the next year and long-term?

Paying off the mortgage on our $400,000 home by the end of the year is our most near term goal.

In the next 10 years, we plan to own a series of rental homes that will bring enough passive income for our family to live comfortably.

What obstacles have you ran into that you had to overcome?

Sometimes I can be my own worst enemy. I have so many things, goals and challenges that I want to complete that all of them combined can be quite counterproductive. Intently focusing on one specific area, becoming an expert at it and then moving on from there has been my best opportunity for success.

Dollars & Debts Interview Series - Marriage Kids & Money -pinterest pic

Any words of advice for those that are afraid of starting their journey or are feeling like they aren’t making enough progress?

I read a book called the Slight Edge by Jeff Olson. It encouraged me to make small, positive steps each day towards my goals. Not giant leaps or shortcuts, just little, incremental changes that would get me closer to my dreams. That thought process has stuck with me for a while… because those small, positive changes eventually become huge wins in the long run. Paying off debt is tough in the beginning, but your momentum grows and grows until you’re debt free. The same goes for your career, your health and your relationship with your family.

Andy Hill, a mid-30’s father of two, pens the MarriageKidsandMoney.com blog and hosts the weekly Marriage, Kids and Money Podcast taking you through the trials and tribulations of being a young parent and husband who is planning for his family’s future and winning with money. His personal finance focused articles have been featured in Business Insider, AOL Finance and Rockstar Finance.

Check out other Dollars & Debts stories here!

Do you have a cool debt story you want to share? Contact Me.

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