How it started? Frustration. It was over six years ago when I started this blog as an outlet, a way to brainstorm, and for some accountability. My days were mostly spent commuting and sitting in an office; unmotivated, depressed, and missing my family. We were in so much debt that it seemed like there were no other options than to keep trudging along, day in and day out, until the retirement party. It was time for a change and this site has helped track our progress over the years. So, as the meme asks . . . How is it going?
All About Us
I go by Harmony. Mr. Smith and I have been together for twenty years now – married for sixteen. We have five children, code names: Goofball (11), Tornado (9), Trey (6), Quade (4), and Quince (4). I have used these strange names on the blog to protect our anonymity, but more on that below.
We have chosen NOT to be just another, typical American family. It’s clear that a lot of people just don’t “get” us. That’s because we focus on big priorities and enjoy being different instead of worrying about trends, conventional spending, or fitting in with others. A few examples: We hardly ever go out to eat or buy new clothes. I cut everyone’s hair (even before the pandemic). We have several big gardens in our suburban yard and even a compost pile. I preserve food from the garden for winter. We don’t do Disney World, but do go on hikes and all other sorts of frugal adventures. We don’t buy the newest electronics or cell phones. Our family vehicle is an old school bus. We dream of a building a homestead, with gardens, chickens, solar panels and more, where we can continue to find ways to keep our cost of living low, and semi-retire at the age of forty – NEXT YEAR!
Semi-retirement has been our dream, because it was the best, feasible option. We have been inspired by the FIRE movement, but our debt prevented us from achieving full freedom anytime before traditional retirement age. Financial semi-independence is a much more attainable, second choice. The idea is to limit the amount of income we need to earn by keeping our living expenses low, with no debt, and having investments for the future. Less work, and more time for living, while we’re still relatively young. We are designing a kaleidoscope of life: varied, beautiful, facets that shift and combine with each other – without being overshadowed by the demands of full-time, long-term careers.
Our ways certainly seem to confuse my colleagues. As an attorney, I’m supposed to strive for owning the BMW, taking clients out to expensive dinners, and working all hours to one day get my name on the door of the firm and secure my spot in a corner office. It’s amusing how other lawyers seem rather dumbfounded as to how to respond to discussions of a future homestead. As for me, I can’t wait to escape from my days in court.
My husband used to work in residential construction, but with the birth of our twins in 2017 he became a stay-at-home dad. He has done an amazing job balancing the care of little ones with the chores of frugal living, including DIY projects which save us lots of money. This school year the twins started a half-day Pre-K program (free!), so he now works a part-time, overnight job.
Finances
Creating My Kaleidoscope was born largely due to reading lots and lots of personal finance and FIRE blogs.
We started off with over $100,000 in credit card and student loan debt back in 2014. Now, finally, we are in a REALLY GOOD place with respect to finances. With dedication, hard work, and some sacrifice . . . while growing our family . . . our credit card and student loan debt is down to $0!!! We own the house where we live and a rental property (steadily decreasing mortgages), and have built up a decent 401(k). And, for the first time ever, we have savings AND an emergency fund.
These results came about from a combination of so many little changes. We made the decision that our debt was an emergency, so no more spending on anything unnecessary AND we found ways to make extra money here and there. It wasn’t just skipping lattes; we resisted spending money whenever possible.
It took a while for the momentum to build up on our debt payoff journey. At first, there was so much effort and only slight differences. But little by little, over seven years, we kept at it and slayed the dragon, while building a commendable net worth.
Updated Goals
I recently rediscovered a post from April of 2016, which included a motivational letter from my future self. The letter is a great explanation of our master plan at that time:
Dear Harmony,
You’ve got a lot of work ahead of you, but trust me, it’s all worth it. An incredible weight has been lifted off our shoulders now that the debt is gone, as in, completely gone. I know, it seems like that will never happen, but it does. I recently informed work of my plans and they agreed to give me some assignments to complete remotely, just enough to cover some living expenses and health insurance. The two income properties are rented out and providing us with other income. I’m still in denial that I’m going to be working less than 40 hours, PER MONTH. I have so many plans for the extra time now that I can finally semi-retire. We are blessed with four amazing kids, who are super excited for the big road trip that we’ll be leaving on soon. We just went out to look at a few RV’s the other day. We’ve got the beginnings of our route mapped out and everyone is contributing on destinations. Mr. Smith is no longer stressed about money and bills. Our marriage is happy and playful; we’re back to being kids, and planning new adventures together. The journey thus far has tested us, but provided the tools necessary to embrace a frugal and unique lifestyle. We’re now able to taste freedom that is the envy of everyone we know.
Keep it up. You can do this.
Oh, wow, to remember back when we were only planning to have four kids and were blessed with twins (our BOGO babies). That one was a complete shock and required a lot of adjustments.
In comparison to this post of yesteryear, we’re definitely on track with respect to finances. The debt is actually paid off – something that seemed impossible for so, very long. We had planned to be in a new home by now, but have held off due to pandemic and housing market issues. Hopefully, the move to our forever homestead will happen in the next year. We will continue to work on limiting living expenses, while bringing in income from our two rental properties. At this point, I anticipate being able to reduce my hours at work, although maybe not quite as low as envisioned in my letter.
One of the biggest differences (besides for one additional child) is our decision not to take the epic cross-country road trip next year. We had planned to explore America in an RV with the kids to celebrate turning 40 years old in 2022. But then we cheated a bit rewarded ourselves for making so much progress, and took a month-long California road trip in February of 2020. It was an amazing adventure and a very helpful preview of what it’s really like to travel in an RV with a herd of children. We were definitely ready to come home and have a bit more space after the month was over. We expect to take the kids on more RV road trips. However, they will likely be broken up to one month or less at a time, as opposed to a full six months of traveling all over the country.
Making New Appearances
At the beginning of this adventure into blogging, it was imperative that my identity remain a secret. We were drowning in debt and I was working for a law firm that expected attorneys to have long-term career goals. It would have meant really big trouble if the partners discovered my posts about side hustles and plans to semi-retire at the age of 40. To keep my income safe, in order to continue paying down debt, any pictures of us had to be carefully cropped or otherwise disguised. Things have changed. My current firm is very supportive of my desire for flexibility and my lack of any plans to become a partner.
So . . . I don’t need to be quite as careful anymore. This realization is inspiring me to increase transparency and have more fun with my readers. We will see how things go, but if you’re intrigued, follow me on Facebook or Instagram to see a little more of Harmony.
“The longer you have to wait for something, the more you will appreciate it when it finally arrives. The harder you have to fight for something, the more priceless it will become once you achieve it. And the more pain you have to endure on your journey, the sweeter the arrival at your destination. All good things are worth waiting for and worth fighting for.” – Susan Gale
