Monday, January 14, 2013

Baby Steps

What does financial peace mean to you?  For me it means no debt, a 3-6 month emergency fund saved up, and putting money away for retirement and college for the kiddos.  I don't have to/want to be super rich.  I just want to know we have those few things taken care of.  Weird huh?  In today's world debt is the norm.  No savings is the norm.  Why on earth, then, would I want to be weird and out of debt?  I mean, debt it good right?  By properly utilizing debt one can purchase the "necessities" (really nice car, that new electronic we have been drooling over, new couches, etc.)  Shoot credit cards would mean grocery shopping is easier.  Debt is a way to get ahead...

WRONG!!

I don't want the headache of trying to figure out which bills to pay with which paycheck.  Then decide after the bills are paid if we have enough for maybe a small date night (a cheap movie rented/bought at Wal Mart).  Then after all that hope that nothing goes wrong before next pay day.  (Like the fridge we had go out right before Christmas...)  I want to find financial peace.  I want freedom!
Right before Christmas I purchased Dave Ramsey's Total Money Makeover.  I had it all read, and started to figure out our budget by the new year.  We set the goal of being debt free by the end of the year (well debt free except for the house).  Right now we are on Baby Step #1: Save up a $1000 emergency fund.  And we have a total of.... $13 dollars in it.  Gee, not much.  I am really hoping that nothing bad happens at least until we can get it up to $1000.


Getting started on this makeover is harder than I thought it would be.  Making all the numbers work in the budget is difficult.  I thought I had it all worked out, but I think I am gonna have to go back and work out a couple kinks, again.  And setting aside money for the emergency fund is harder than I thought.  I am used to going "oooo a couple extra dollars let's go spend it!"  Now I have to train myself to go "ooo a couple extra dollars let's put it in savings!"  Hopefully it will build up quickly.

I'll post tips and tricks that I learn as we go.  I'll tell you what we do through out the seven baby steps.

This is gonna be an intersting/exciting/frustrating journey. But I am feeling pretty gung ho... Let's do this thing!!

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