Here are some musings on self-sufficiency…

Self-sufficiency is always in my thoughts and I prefer to remain positive in those thoughts. Our efforts this year center on the financial foundations of our marriage and life here at home. We are growing more of our own food. We have started a business, formed an LLC here in California (expensive!) and have opened a business checking account with Antelope Valley Bank because Wells Fargo ignored us for 20 minutes.

The business checks arrived yesterday and I sent in the payments to the Secretary of State and the Franchise Tax Board. Starting the business has cost in excess of $15,000.00 dollars this year, folks, and no revenue yet. Start up costs, even for carefully researched and planned out new businesses, are high. A substantial part of that cost has been computer and peripheral equipment and consulting. Our focus and energy is devoted to turning Negative into Positive and achieving financial freedom— mortgages paid off and bills covered by business or passive income, NOT jobs.

Speaking of mortgage, we are, as are so many of you, upside down and struggling to keep current on our payments. We have researched several ‘refinance’ institutions and attorneys, and their consistent (and illegal) mantra is that we have to be several months behind on our payments to make a loan ‘reset’ happen. That is not true, we know, but nevertheless, no one will touch our situation. We signed on to pay the debt and will tough it out and honor our obligations. For that we are all being soundly punished.

The Wall Street Journal ran an article recently detailing talks between the federal government, the states (notably California), and the banks about making resets or refinances available to people who are floundering but still current on their mortgages (“New Mortgage Plan Floated—Underwater Borrowers Current on Payments Would Get Help” A1, Tuesday, October 18, 2011). California leads the nation in these, but the banks are balking because they are ‘leveraging’ their profits on our backs. The article emphasizes that a final resolution is a long way off so get active and voice your opinion to your state Senators and Congressional representatives! Yes, you, reader. You count.

For a serious financial life turn-around, check out John Commuta’s website or go to Nightingale Conant or Amazon and get Turning Debt into Wealth. Get the real deal, steer clear of get-rich-quick schemes, lay out your plan and work it. Commuta stresses that individuals, and families, can become debt-free with just the income they are using now. I stress that because many charlatans with ‘investment’ ideas are oh-so-willing to remove any and all of your remaining assets. Caveat emptor. There is also great debt-free information on the internet, and ‘apps’ for your i-implements and ‘droids.

Again on the positive side, we are raising more of our own food by nurturing a flock of dual purpose hens and a rooster and will be raising rabbits and a fine garden next year. We are setting up the two ComposTumblers so that the horse and chicken manure and leaves that fall this season will be a foundation for the feasts of next summer and beyond. Remember, all things are interconnected and part of the cycle, and so it is with life at our high desert homestead. Until next time, take care and stay connected. Janis