The first part of the update I’m going to talk about is what all we have paid off. To date, all of our debt is paid off. Say Whaaaaaa? No, not our mortgage, because people like to bring that up, but we have a plan to pay off our house so we have separated that from what we consider debt, so back off! Ahem. Anyway, both of our cars are paid off, which feels amazing, and we have moved on to saving more money in our emergency fund. We’ve saved over 8,000 dollars for our emergency fund so far! Not only that, but along the way we paid cash for our IVF procedure, along with our doula and midwife totaling over 10,000 dollars. We’ve had emergencies with our heating and air-conditioning, our roof, and a few other events that we were able to take care of without credit cards without borrowing money, and without going back into debt.
How about our bi-weekly budget meetings? Yep, we still have them before every pay-day. Even when one of us was away, the other would still do the budget and discuss any major changes needed. We still start off the same way, tithing 10 percent. I was recently asked if we tithed from our gross or net income. We have chosen to tithe from our net income, but we also tithe any other time we receive money, including our tax return. Our funds may have changed a bit, and our amounts to each of those funds, but over all we continue to do everything the same. We pay God first, then ourselves, then the bills and so forth. We still have our pocket-money set aside to spend as we wish. And we make adjustments as needed. Our income will be decreasing significantly in the near future, so we have been slowly making adjustments towards that so we don’t go into shock. We also have our cash funds in envelopes, and try to pay for things with cash as much as possible.
With little changes here and there, things have run rather smoothly financially for our family. At least for my husband and I. My oldest daughter is still learning. I’m hoping we’ve at least instilled some good money values for her.
As far as the class we took, Financial Peace University, we are on baby step number 3! WAHOO!!! If you’re not familiar with the program, you can check it out here on Dave Ramsey’s website. Again, I don’t get any commissions for referring anyone, I just have faith that the program will have a positive impact on any person or family who puts its principles into practice.
So how about you? Do you have anything you would like to share about finding your way out of a financial rut? I would love to hear your stories below!
Thank you as always for reading today!
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