So a few updates:
1. Last month went really well for us! We were able to make a $1000 payment toward student loans. Yeah us! Also compared to our month 1 spending, we cut our food spending by almost $200. Which leads me to…
2. My life is now run by the following, in more or less this order: baby B., Dave Ramsey, Weight Watchers. Turns out when you’re trying to lose weight, your food spending goes down…hmm, interesting.
3. We went to see Dave Ramsey live. Awesome. We understand he’s not for everyone and that’s okay. But this was exactly what we needed. Definitely encouraging, motivating, and practical. Take-aways for me were:
A. Squeeze the budget harder, find more income, I want to be debt-free (minus mortgage) in one year.
B. We started a 529 fund for the babe, but we might want to look at an Education IRA instead. Need more guidance on that.
C. Plan a really big garage sale! Anybody want to contribute some hot ticket items? : )
D. We CAN do this! People in much worse shape financially than us are doing it and have done it. Plus, once our debt snowball has run its course and our savings is beefed up, we’ll be on to the easier part and have more choices–which for me is what it’s all about.
E. Completing baby steps 1-7 is a bit more time- and labor-intensive than first anticipated. But I think the end result looks pretty fantastic from here.
I could share quite a few quotes that I loved, but I’ll save those for a rainy day. Speaking of which, I think it’s time for hot chocolate and a movie!