Financials
Many of you may already know that the Mrs. and I are taking a Dave Ramsey “Financially Peace University” class to help us eliminate debt. We want to eliminate debt so we can do more good with our money; give to church, sponsor children in Africa, help feed the hungry here in town, etc. We also are tired of being slaves, so to speak, to banks and creditors to whom we owe money and the weight of having so much debt.
Dave Ramsey’s program can be outlined in 7 Baby Steps:
Sounds easy, right?
Well, when you are TENS of thousands of dollars in debt, and your income is very close to how much you pay out every month, it is difficult.
I am pleased to announce, however, that the Mrs. And I have completed Baby Step #1. We can directly thank poker, poker blogging and Full Tilt for help in completing it.
April 1 is our start date for Baby Step #2; our budgets and spending plans will be completed over the next 2 weeks. In April, we will start spending using an old-fashioned envelope system where we will set aside budgeted cash in envelopes marked “food”, “gas”, and “blow”. (Not hookers and blow, just fun money.) It will be fun and challenging. Maybe not so fun, we’ll see.
Next up is our debt snowball, where we’ll be paying all of our credit cards off. I’ll explain another time about how it works. This step will take a couple of years. I hope that you will ride along with us and track our progress.
Thanks for all of your nice comments last post. Very cool.
