Well yesterday marked 2 years we have been following Dave Ramsey's "Total Money Makeover" plan. We have paid off 42,037.31 in consumer debt. That is not counting money we have been paying on our mortgage this whole time. I have been using Quicken track my spending for each transaction we make. And I have a spreadsheet which I keep our monthly budget on. These tools have helped me see the fruits of our labors. I have watched out debt go down and our net worth go up.
When we started we were not savers, but now we save for everything it seems. Right now we are saving for a vehicle since my car has died and is going to the junkyard probably. We still in emergency mode. Not paying extra on debt, and saving all our extra money. We were hoping do be done with baby step 2 by now, but we haven't paid off the debt as quickly as I would have hoped. Hopefully we will get a car this month and be back on the debt snowball.
We only have 7668.15 left to pay on consumer debt, then we will start saving our big emergency fund. Wish us luck, cause I want to scream "We're debt free!!!"
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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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