So we have officially been using the Ramsey method for 5 months to guide us through our development in Family Finances.
As much as I'd love to blog that we have paid off debts that has not been the case. That is of no fault to the method. We are still on Baby Step One. The step where you have to save a $1000 for an intital emergency fund. We have saved this fund three times.
From February to now life events have just happened. Each time causing us to deplete the EF. The DH had a throat abscence and ended up in ER. The out-of pocket after insurance came to $890. Then just after that the air conditoning in the car went, the cost of that $1200. Then the car tires all needed replacing , that was $500.
And each and everytime we have paid cash. And there for us is a triumph. In our five short years of marriage we have never paid cash for large expenses. The credit card usually came to the rescue.
Of course we are still working on the Ramsey method. We need to get better aquainted with the envelope method (had we had done this we would have money in the car envelope to not to use the EF). And God willing, we can begin in a couple of weeks to start snowballing.
But right now, my husband works a total of 2 full time jobs (Elementary Teacher, Coach and Pizza Delivery Guy) and I have been very creative with the budget we have. I am also looking into a new side line project to create some pocket money (Itsy Bitsy Printables). We are on the right track. So life so far may not be ideal, but life is good.
3 comments:
Hang in there. It's a tough road. If only we would've learned all this before we were married right? We have 80,000 still to pay off (car loan, student loans and second mortgage) yikes. We've paid off 25000 in the past year and a half. So we've got awhile yet. I'm proud of you though. Hang in there. You have a plan which is way better than no plan.
Woohoo! That is awesome you didn't turn to the credit card, that in and of itself is way more than a baby step.
{side note: your google reader feed is all sorts of messed up. I didn't even know you were back to blogging!! Glad you're back- excuse me while I catch up on what I missed.}
Thanks CJ! Yes not using the CC to pick up thoses expenses was a huge accomplishment!
I am going to be tinkering around trying to fix the reader ... feedburner seems to be working, and the blogger dashboard ... so may take me a while to figure the reader thing out. Thanks for letting me know!
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