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Monday, December 27, 2010

End of Year Round Up

Almost there
I always spoke of my husband as "Mr. Doomsday".  Y2K?  Oh, yeah... he expected the world to close down. The Gas Crisis, The Economy is Tanking, Buy Gold, The Banks are all Going to Close Down, I've heard everything.  I try to stay positive minded even if it does mean that I'm ignoring the inevitable.  I refuse to live in a negative mindset waiting for something bad to happen.  Unfortunately, even though the worst hasn't happened - it's the media that can make or break my happy joy joy concept.  I'm about a month away from having enough money to pay off my car.... VERY EARLY!  Shortly after that, I should have enough to pay off my final debt and that would have me screaming, "I'M DEBT FREE" - but hold the phone.  If the economy tanks. If my husband's hours get cut back again like they did on 2008. If. If. If.... we'll need that money to make the ends meet.  I'm in a rock and a hard place.  Of course, paying the car and that last credit card would free up about $425 a month from our budget, but will that be enough?  I'm chomping at the bit.  It's every Dave Ramsey follower's dream to make the call to tell Dave that I'm debt free!   Long story short - we're almost there!

Debt Free Christmas
What do you know - we paid cash AGAIN for Christmas this year!  We stayed under $1000 for everyone (and that includes my son's 19th birthday which falls in there too)  $1000 is probably about $200 more than we spent last year I think, so it felt like we hit the lottery and betcha believe that I used coupons, hit sales, comparison shopped via Internet like you wouldn't believe. My motto - NEVER PAY FULL PRICE!!

Goals for 2011
Oh, I will be debt free this year.  That's not even a question.  We have our 20th anniversary and we WILL be celebrating that ....with CASH someplace nice, romantic and not HERE!   If all bodes well, I will be well into BS3 by the end of the year.

Baby Steps
Baby Step Four - Retirement.     That one's got a big "YEAH RIGHT" attached to it.  We're so far behind in saving for retirement, and with the markets the way they are - I'm not too gung ho for this step at all...
Baby Step Five - College.   My son just decided to go to school.  He'll be starting his freshman year at a state college.  Very proud of him.  Very happy to see that a lot of what money he has been gifted through his life will come close to paying for it, and he will be coming up with the rest. Or such is the game plan currently.

Where do you put this?
Is there a Baby Step Sub Category for this or is it just a budget line. Once this debt is gone, Once BS3 is complete, I want to save money for another car.  Husband's car is going on 7 years.  Not bad for a Hyundai. It could last for several more years {God willing}, but his inner child went looking at cars and is somehow figuring that 2012 is the death date of the Elantra.  We have a difference of opinion on that - but having a nest egg would be nice. 

The more things change the more they stay the same
Cash. Coupons. Envelopes. Budgets.  - the plan works if you stick to it!  Looking back at the debt we've paid off - well over $45k, I'm quite proud of how far we've come, HOWEVER - I don't feel comfortable trusting myself without our plan, without a budget -we'd fail.  by allowing the use of credit cards - we'd fail miserably.  Stick to the plan, Stan and have a Happy 2011! 

3 comments:

Tracey Axnick said...

I'm a very inspired! $45K is a HUGE amount of debt to have paid off! You guys deserve to take a GREAT vacation once you reach your goal! (And yes, I'm looking forward to the day we can call Dave as well....)

We will be paying off our car early too... I'm hoping we'll be able to pay it off in March... then take the $500 THAT frees up and REALLY accelerate on the credit cards. I am SOOOO ready to be out of debt!

Keep up the great work!

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John Smith said...

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Debt To Freedom