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Congratulate us, the only thing we owe anyone for is our little mortgage. 
Woohoo!!!
Took us a year and half but we did it. It was no fun, let me tell you, but it was so worth it. Over 55k in consumer debt eliminated. For a year of that time our income was about in the 60k range, it's gone up to 80k towards the end.
WE'RE FREE!!!!!!!
Like others have mentioned, I've taken ideas from many different books. I've read quite a few of them and have used the ideas and principals in The Richest Man in Bablyon, The Total Money Makeover, The Automatic Millionaire, The Millionaire Next Door, The Wealthy Barber, Debt-Proof Living, and Sound Miind Investing. Some of the ideas are the same, and the ones I hear over and over are good enough to be repeated, well then they're good enough for me to do. Good advice doesn't change. (live on less than you make, pay yourself first, get out and avoid debt, automate, etc.)
Right now we're adding to our emergency fund. We've already upped retirement to 10% and hope to bring it up higher within the year. We're going to be able to pay cash for our child's college, which starts this year. I've set up autodrafts for sinking funds so we won't get caught in debt again. And finally we'll start hitting the extra principal on the mortgage before the year is out, we're hoping to have the house paid in 3 years. Imagine the investing power then, yeah!!!
Anyways, just a walking-talking-breathing-real-life person here who's walked the walk, we did this stuff, we sacrificed and got rid of the stupid payments and all we owe now is our little fixed rate mortgage. You CAN do this!! It does work!!
(meant to inspire and motivate, all the best!)
Woohoo!!! Took us a year and half but we did it. It was no fun, let me tell you, but it was so worth it. Over 55k in consumer debt eliminated. For a year of that time our income was about in the 60k range, it's gone up to 80k towards the end.
WE'RE FREE!!!!!!!
Like others have mentioned, I've taken ideas from many different books. I've read quite a few of them and have used the ideas and principals in The Richest Man in Bablyon, The Total Money Makeover, The Automatic Millionaire, The Millionaire Next Door, The Wealthy Barber, Debt-Proof Living, and Sound Miind Investing. Some of the ideas are the same, and the ones I hear over and over are good enough to be repeated, well then they're good enough for me to do. Good advice doesn't change. (live on less than you make, pay yourself first, get out and avoid debt, automate, etc.)
Right now we're adding to our emergency fund. We've already upped retirement to 10% and hope to bring it up higher within the year. We're going to be able to pay cash for our child's college, which starts this year. I've set up autodrafts for sinking funds so we won't get caught in debt again. And finally we'll start hitting the extra principal on the mortgage before the year is out, we're hoping to have the house paid in 3 years. Imagine the investing power then, yeah!!!
Anyways, just a walking-talking-breathing-real-life person here who's walked the walk, we did this stuff, we sacrificed and got rid of the stupid payments and all we owe now is our little fixed rate mortgage. You CAN do this!! It does work!!
(meant to inspire and motivate, all the best!)
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