Wednesday, October 14, 2009

Financial Quest

I was able to get on the Dave Ramsey site for a little bit last night.  I signed up for a FREE TRIAL which is a week long, so I'm trying to get as much information as I can just incase I don't want to continue with it after the trial period is up.  A friend I work with let Shelby and I borrow the CD's (She and her husband took the class at their church, so they have all the materials) and we were able to burn them to our computer.  We haven't listened to them yet, but we're planning on doing that soon.  You should visit his website and at least do the FREE TRIAL - it's worth it, it's FREE!

One of the first things he talks about is "Baby Steps".  The way the website is designed, you can't move on to the next step until you have completed the first one, so I see that I probably won't get a chance to dig into ALL the information in just a weeks time - but anyways, the first Baby Step is fairly simple.  It's FULL of common sense, which I LOVE

Baby Step 1: The Main Goal - Save $1,000 as quickly as you can! (Emergency Fund)
  1. Get up to date with all your creditors (if you're behind on payments get up to date with that first - to where you only owe the minimum payment - before you really get into the first step)
  2. Pay ONLY the minimum payments, putting eveything else towards your $1,000 goal, until you reach your goal.
  3. In the meantime, NO NEW DEBT!
I love his envelope system!  He mentions putting your Emergency Fund money into an envelope.  When you have your $1,000 put that money into a Money Market Account. (you could probably do the BEFORE you reach your goal, and just add to it along the way)

Pretty easy, huh?  That's basically the first step! It's easy - it's very do-able. 

He also has you make up a budget, which I had already done, so I was one little step ahead. ;-) 

I honestly don't think I can come up with $1,000 in 1 month, but that doesn't mean I'm not gonna try to get it done as soon as I can!  My main plan for November is to:
  • Follow our Budget
  • Save our Change (because we are ONLY using CASH)
  • Cut our Expenses (Buy Nothing Month ????)
  • TRY to have a Yard Sale
Any extra money that we can get our hands on is going to go towards our $1,000 goal.  The purpose behind this wonderful little Emergency Fund, it to keep you from creating any NEW debt while you're in the process of eliminating your old debt - in the event something happens to your car, your pet gets sick, etc. 

Starting in November I'm also going to try and cut back on our utility expenses.  I have been looking up ways to cut electricity expenses and things like that.  Every little bit helps!

I have just thought of something ....

November 1 we are going to a Marshall Game in Orlando.  How am I going to stick to my budget while I'm there?  It's RIGHT at the beginning too? It kinda depresses me - not that I'm going to the game - but because I'm going against my plan on the first day.  What do I do?! We still have to get our Pugs shots up to date and pay for them to be boarded while we're gone .. more added expenses.  I don't know what to do!!!!  :o(


  1. i think that the pug's shots would be a necessity. would there be anyway to stay with friends while you are there? that would save on some of your expenses.

  2. what ways have you found to cut back on utility expenses?? i am ALWAYS looking for ways, because i live in an almost 100 year old house and my bills can get astrononical