i just got through reading ttmm, and i am *so* excited about it! i told dh that he *had* to read this book, but he couldn't get past page 25 or so before i had to return it to the library. *pout* and i couldn't renew it because it's extremely popular in our library system-- when i had requested it, i was number 800 or so in line!
i think i may just go ahead and buy a copy.
dh knows that i'm doing a major shift in now we're handling our money, but i really want him to read the book, so he'll understand what i'm doing and why, you know?
so here's where we are:
0-- Get current on bills
we'll be getting our tax refund in a couple of weeks to finally take care of this! yay! and i already have a budget worked out so we can stay on top of things. and we're shutting down our individual checking accounts and working from just our joint checking account, and locking up that debit card. this step will definitely stop a lot of mismanagement.
1 -- $1,000 to start an Emergency Fund.
we'll be doing that with our tax refund. it'll be nice to be able to make things less hospitable for murphy, finally.
2 -- Pay off all debt using the Debt Snowball.
our only current debt is dh's car loan with the ridiculous interest rate. the last of our refund will go towards paying that down. we currently owe about $4500 on it.
3 -- Three to six months of expenses in savings.
we'll be working on six months of expenses. dh is the only wage-earner right now, though when i finally start working again (part-time only!), the lion's share of what i make will be going into savings, so that should accumulate quickly, i'm hoping!
3.5 -- Save for downpayment on house if you do not already own a house.
we're in an apartment, and want to own a house so badly, we can taste it.
4 -- Invest 15 percent of household income into Roth IRAs and pre-tax retirement
5 -- College funding for children
6 -- Pay off home early
7 -- Build wealth and give! --- Invest in mutual funds and real estate
so glad to see this thread!