Thursday, February 26, 2015

Total Money Makeover

Paying off our student loans and credit card debt has been on the agenda for what feels like years, come to think of it, it has been years. We have had good intentions, but life gets in the way. For example, the nearly $1600 in {post-insurance} medical bills we've racked up in ONE month's time thanks to Kenley's foot, a fiasco with Jason's mouth and a teeth pulling for Bailey {which I would like to go on record saying cost more than the two human procedures combined}. It has finally gotten to the point where we realize we can't continue to take one step forward and two steps back forever, we need to just commit and get this done and move on with a wonderfully awesome debt free life.

After hearing so many good things from fellow bloggers {Erin & Bridget, I'm looking at you} about Dave Ramsey and his teachings, I decided to buy one of his books and see what all the fuss was about. I opted for The Total Money Makeover and am so glad I did. 

It was a super quick read but the way in which Dave explained getting out of debt totally spoke to me. In this particular book he equates getting "financially fit" with weight loss. Considering getting myself in shape has been a huge part of my life the past year, I could totally relate to everything he was saying. When it comes down to it, losing weight and getting in shape is all about dedication, commitment and math. Turns out it's same with finances - when you are dedicated and committed to sticking to a budget the math will work out and there will be extra money to put towards savings and debt.

What I loved most, though, is that this plan is all about baby steps. I am trying really hard in my daily life to live by that "Slight Edge" philosophy that small actions compounded over time yield big results and that is really what Dave's financial philosophy is as well. He has a list of "Baby Steps" that when followed, it leads you little by little to financial freedom. 
While the overall picture seems super daunting, breaking it down in to smaller, manageable and completely doable goals it makes it seem not so bad to get our finances in shape. Jason and I have set a money management date night for tomorrow and I'm excited to share what I've learned from Dave's book and work as a team to get a game plan in action!

Have any of you used Dave's plan?


Marcie said...

We had to get one of Grover's teeth fixed (and a handful more pulled) like 6 months ago and when I found out how much it cost I nearly threw up. The horror.

Erin LFF said...

It SUCKS to have stuff like medical bills or car problems come up and feel like you have a huge set back. But that emergency fund changes everything, I'm telling you! :) You are SO driven in life, so I know you and Jason will be attacking your debt in no time at all. The small steps give you that boost and confidence you need that YOU CAN DO IT :)

Dixie Bell Designs said...

I love his ideas! My husband and I usually have a monthly money management mtg at starbucks! haha

Bridget said...

Seeing this excites me like you wouldn't believe!!! Total nerd over here with budget and money! I can't wait to follow you guys along this journey of living like no one else so later you can live like no one else. This is one of the best things that Tate & I decided to do and I am beyond glad we did. Tate and I have our budget meeting tomorrow evening as well...which I love having :) My one piece of advice...don't let ANYONE tell you what your doing is stupid and that you should always have debt. Unless that person is 'winning' with money...take no advice from them. What you about to tackle is weird and different...but weird and different people go far in life. Good luck...let me know if you have any questions and I'll be cheering for you guys!!!!

Courtney B said...

Girl, I will totally be your cheerleader on this journey!! Love this! I really need to find a Dave Ramsey book that will work for us on saving money! We are pretty much debt free, but are real bad at saving. UGH! We need Dave Ramsey's help!!

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