Dumping Debt and Building Wealth with Dave Ramsey~ MARCH - Page 10 - Mothering Forums

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#271 of 284 Old 03-31-2008, 12:41 AM
 
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Nice progress everyone!

Dh and I did our April budget tonight and our snowball this month is $320. We'll be paying off 1/3 of our next debt in line.

Midwife (CPM, LDM) and homeschooling mama to:
13yo ds   10yo dd  8yo ds and 6yo ds and 1yo ds  
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#272 of 284 Old 03-31-2008, 01:35 AM
 
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I agree, sounds like alot are making some great progress!

April, here we come!

Carrie, mom to Johnathan (7-02), Brodie (2-04), Kate (12-06), Jordan (9-08), (4-09) & Maggie (3-10)
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#273 of 284 Old 03-31-2008, 01:24 PM
 
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We had $20,000 more debt than we do now! We still have $37,000 to go but we paid off $20,000 in one year and we didn't start the DR program until September. From April to September last year we were trying to figure out how to cut back on eating out and utlities but didn't have a plan until we read DR and started it in Sept, along with the no spend challenge here on Mothering. That is an average of $1666 to the principals on our a debt a month (it is actually a lot higher than that for the second part of the year and lower for the first). I always keep our credit cards at 0% but we did pay more than that on some interest towards our van and home equity loan (the interest was about $150 more a month on top of the $1666). If anyone would have told me a year ago that I could put up to $2000 a month towards debt I would have never believed them but we are doing it!! We have also learned to budget, cut back on so many things and I throw newspapers for more snowball money! I am so excited! This time next year we will be in an awesome place! We should only have around $12,000 left to pay off on our home equity loan! We will be debt free in 2009!!!

This board has been so helpful! They other board that has helped sooo much is www.llnoe.com Check it out! They are die hard DR fans with so much info to get you on the path to financial freedom!

Homeschooling Momma to DD 8 years old, DS 7 years old, DS born 03/11 by adoptionheart-1.gif , waiting for DD born 07/10 and two furry labs. Wife to my wonderful husband of 12 years.
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#274 of 284 Old 03-31-2008, 02:29 PM
 
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Another Newsie like me Getting up at 4 am sucks, but knowing this money is keeping us afloat and working towards our goals is ooohhhh so nice!
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#275 of 284 Old 03-31-2008, 02:55 PM
 
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Quote:
Originally Posted by Einley View Post
I posted this a couple of pages back- but this is where I listen to him everyday.

http://radiotime.com/program/p_20156...msey_Show.aspx
Thanks for the link- I love how it lists all the shows by date.

~e, wife to my sweet T partners.gif, mama to my turtleman (8) , sunshine (6 vbac.gif), and monkey (2)
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#276 of 284 Old 03-31-2008, 02:56 PM
 
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Originally Posted by excitedtobeamom View Post
We had $20,000 more debt than we do now!
That's fantastic progress- congratulations!

~e, wife to my sweet T partners.gif, mama to my turtleman (8) , sunshine (6 vbac.gif), and monkey (2)
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#277 of 284 Old 03-31-2008, 02:57 PM
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Originally Posted by all in green View Post
I'm an atheist and have yet to find Dave's bits about religion offensive enough to send me screaming for the hills.
I'm Christian, and I find some of the things Dave says to be....not offensive, per se, but counter to my own religious beliefs. But the majority of the "Christian" stuff is not relating DIRECTLY to the actual financial plan. So DH and I just ignore it, and tweak the program to suit and reflect our religious beliefs.
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#278 of 284 Old 03-31-2008, 05:21 PM
 
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Originally Posted by Kierdan'sMom View Post
Woot! Woot! Since we're getting our taxes this week, I went ahead and adjusted our insurance to change coverage since we having savings so deductibles could be raised, etc. and saved $150 - $25/mo more towards our debt pay off!
well i am glad that you can save on inurance. i tried to see what we could do with our insurance and i find that going from $50/100K down to the min. (about 35k or something) and it only saved $75 or over 6 months...which i don't think is worth it considering the lower rates won't cover much i don't think.

and wow excited...$20k is half our income an i just can't imagine being able to get/find/put $1600+ per month towards any one thing! gosh! i know its true that everyone has debt respective to their incomes and that "rich" people can not have extra money but its so hard to see it when its so much! anyways good job putting that huge chunk of money towards your debt.

what does newspaper throwing get you guys? I looked into it once and it seemed like it was so early that it wouldn't be worth it...but can you throw at like 11 p.m. or something like that?
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#279 of 284 Old 03-31-2008, 06:04 PM
 
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I throw the NYTs in my town, so lots less papers. I get up at 3:45, have a cup o joe, toss kidlets in car seats w/ blankies (And make sure DD"s feeding pump is fully loaded) and go to the depot. I then park at the entrance (its a big garage door entrance, so that kids see me and I them (though they always sleep through) and grab my 30 papes and route paper and go. Takes me about 1-1.5 hours to throw them and get home, where kids get unloaded and we all go back to sleep for a couple hours. DOesn't pay great, but after gas we net about 650$ but then have to pay 11.3% in tax but with fed mileage rates, we can right off almost our entire "salary" to mileage We get paid 25$ each day M-Sat. AM and $50 for Saturday night (Sunday AM is thrown between 9p-12 a on Sat. night. Not my dream job, but it allows me to have the kids and make some extra cash flow
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#280 of 284 Old 03-31-2008, 07:02 PM
 
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I just made a snowball payment so our current snowball debt is at $1892.15 right now. My goal for April is to throw at least $1000 towards it. Every penny counts!!!
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#281 of 284 Old 03-31-2008, 10:22 PM
 
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Well I just did April's budget. This is my first budget ever!!!!! I am happy with the way my budget turned out but rely on DH for the snowball and wish that could go better/faster. He is a builder in Mi and there is little to no work work so we are just scraping by so I guess it is a good thing that we can stay current and put money into savings no matter how little that is. I am also finding that they way we look at money is changing. We talk so much for about it which is GREAT. Before DR Dh did the business or his money and then he gave me the household $$$ every week and I handled that. Now we talk about where our money is going and what we want to happen. I jsut have to keep reminding myself baby steps, baby steps, baby steps.
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#282 of 284 Old 03-31-2008, 10:57 PM
 
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DandeCobb Emily in Kentucky
0: Get current on bills: Done
1: $1,000 to start an Emergency Fund $5700/$5000 (see siggie - maternity leave)
2: Pay off all debt: ALL credit cards PAID OFF and CANCELLED
28,000 Truck loan @ 7%
3: Three to six months of expenses in savings- soon, i hope
4: 15% income into retirement: 6% to get company matching
5: College funding for children: $50/mo to a mutual fund
6: Pay off home early - $118K
7: Build wealth and give!


so my EF is fully funding + because my DH lost his job (severance pay) so that is pretty freaking scary. we have moved to a lockdown budget while he job searches (not eligible for unemployment). and I am signing up for WIC on wednesday to lighten the grocery bill (i keep a nice stockpile, so with wic and the pantry the grocery bill should be next to nothing). we are just holding our breath to find out how much COBRA is. luckily, DH is the kind of man if he doesn't have a new job soon, he'll do just about anything if he has to (ie, garbage man, fast food, ect) to get some money rolling in. so, everyone wish us a speedy job search please!
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#283 of 284 Old 03-31-2008, 10:58 PM - Thread Starter
 
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I just wanted to pop in and give you the link to April's thread

http://www.mothering.com/discussions...3#post10899383

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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#284 of 284 Old 04-01-2008, 08:13 PM
 
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Quote:
Originally Posted by TattooedMama View Post
Thanks for your responses about food budgeting.
I just am feeling really really down today. DH and I had a silly squabble this morning about drinking day old coffee left in the pot (he thought it would save money ) insread of me brewing a whole new one. It spiraled downhill from there. Usually we are totally on the same page and doing really well with budgeting, sacrificing, planning and snowballing.
Well here's 2 questions for you....
1.) Should we drop our gym membership? (I'm pretty sure we should) we are not using it at all and it's $70 a month. The drawback would be if we decided to join again the rate would be higher.
2.) My DP suggested last night that we halt our $100 a month IRA contribution for right now. This is where we have differed from DR because I thought we had enough cushion to budget and snowball and still do this. Now I'm not so sure. My reason for wanting to continue investing in the IRA is that I am a SAHM and my DP is self-employed and probably always will be. So we have no company match and barely anything saved for retirement so far. DP wants to either put it into savings for a larger EF or snowball it.
What do you think?????
Oh my, you've got a good husband, but day old coffee is not the answer!

I say drop the membership and find a friend to walk/jog with. That way you get out of the house and you stay active, but it doesn't cost you anything.

As for the food. I really think you should get a group of like minded individuals together who want to trade dinners with you once or twice a month. I also bet you could find a group who like to do some OAMC. That way you have some more food options, ones that fit your families needs, and you have some support. Perhaps you could create a meet-up group in your area.

Good luck and hugs.
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