This has been a fun month with our budget. First of all we worked a lot of over time and recieved an annual bonus. This made this months budget over twice the normal budget. So we first paid off our last debt. After that we had to decide what to do with extra money in our budget. We decided to put it in 3 major categories. They were, "The Emergency Fund", "Vacation Fund", and "Home Improvement".
Then we decided to live it up this month. We went and bought clothes for all of us, spending triple what we normally spend in a month. We decided to up our dinning out fund, about doubled it.
It was fun live it up a little. It felt great having extra money to play with. I know next month will be back to the normal amount of income in our budget. But we won't have anymore payments except our house payment. It will be great seeing the extra money be put into our emergency fund, rather than being a payment toward our past mistakes. Now that is behind us, and we can start focusing toward our future.
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My families journey down the road of becoming debt free and finanicially sound.
Baby Step 3 Status
$10,000 emergency fund goal
Paused Baby Step 3 at $2500.00
Paused Baby Step 3 at $2500.00
Baby Step 2 Status
Started Total our Total Money Makeover on January 1st, 2010 with $49,705.46 in debt, not including our mortgage.
April 13th, 2012 we paid off the last of these debts. It took us 28 months and 13 days.
April 13th, 2012 we paid off the last of these debts. It took us 28 months and 13 days.
The Road to financial peace.
This is a record of our journey in finding financial peace. We are using the baby steps in Dave Ramsey's - Total money makeover, book. We will be trying to follow his plan as close as we can. We hope to have an end result where we have no debt, have a large emergency fund, are saving for buy everything, are saving for our kids college, and are building wealth for retirement.
When we started this plan on January 1, 2010. I was 32 years old and my wife was 31. We had been married for 4 years. We knew this plan would take a few years before we were on the last step in the baby step process. But we are dedicated not to give up.
This blog is to help us keep on track, and keep us focused on our goal.
When we started this plan on January 1, 2010. I was 32 years old and my wife was 31. We had been married for 4 years. We knew this plan would take a few years before we were on the last step in the baby step process. But we are dedicated not to give up.
This blog is to help us keep on track, and keep us focused on our goal.