March was our highest income month so far. We got some extra income last month that really helped. We also picked up some extra hours at work, which added more. With extra income came extra spending. We redid our budget a few times during the month. We were able to get a few auto expenses out of the way. Camper axles were straightened, vehicles got there oil changed, and new windshield wiper blades were put on. We also budgeted $300 for home improvement to finish the entryway. We also saved back more money than previous months toward our vacation fund.
We also put more money back for recreation and dining, so we could do a little more with our kids. But a side effect was, our auto fuel expenses went over budget. By spending more, we ended up spending even more. This is an effect we will have to remember in the future.
After all the extra expenses, we still had $1200 extra. We applied that to our smallest debt, our car loan.
So far, we started in January with a car loan, a camper loan, and 3 - 401k loans. Our total debt (not including mortgage) was 49,705.46.
Today, April 1st 2010, we have 43,446.32. That is 6893.20 paid off in 3 months.
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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.
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