Tuesday, November 9, 2010

Celebrate!!

Take that! And that! Wham! Bam! Kapow! 



Wowee! This is an exciting day for the Robert family. By the end of this day our first major debt will be GONE. Regular readers of this blog know that Eric and I are working our way towards being completely debt free by following principles taught by financial guru Dave Ramsey.  As part of Dave's Total Money Makeover, we listed our debts and started chipping away at them one by one. I am proud to say that our first debt of about $8000 is now out of our lives forever...no looking back! Oh, it feels so good

We are still going strong with the envelope system. In fact, since we started working the system in August, we have paid off $2000 and set up our $1000 starter emergency fund, all on one income and while continuing the minimum payments on all of our student loans. We didn't get a raise, or a bonus, or win the lottery...we just budgeted differently! So you see, it really does work. And I am one step closer to THIS



Okay, so maybe we still have a little ways to go before we reach dream home status. :) But little victories like these are so encouraging along the way. Our next debt is considerably smaller, and we should have it knocked out in about a month! It's true that once the debt snowball gets rolling it really picks up momentum. 

I'll be honest, it takes a bit more intention than just stuffing money into envelopes each month to really "win" with money. Our family doesn't have car payments, we don't go on huge shopping sprees, and we're still sitting on college furniture and watching TV on a non-plasma screen. Gasp! We certainly don't begrudge anyone who has those things, but we know that WE have no business spending money on a ton of "extras" until at least some of our debts are paid off. And here's a secret: you don't miss what you never had, haha.

I'm sure some day we'll look back and smile at our current lifestyle. "Do you remember those totally annoying slipcovers that looked more like giant brown sheets covering our furniture? Or how about the 'ole Buick with 300,000 miles on it? Bwahaha...." But for now, we're just happy as clams. And gee, I hope we never ever get jaded and feel sorry for our "old" selves, because really we're just fine. Remember that, Adrien. You were SO HAPPY just the way you were; the way you are right now. Thank you for the encouragement, self. 


Sure, we may chuckle at ourselves 10 years from now, but for today, we celebrate. Because even the little things in life deserve celebrating sometimes. And if there is anyone reading this who is feeling totally weighed down by their financial situation, I really encourage you to check out Dave Ramsey...or feel free to ask any questions about our personal journey. We're not shy about discussing finances...I'm not sure why people are so weird about it...but we're not, so ask away!

So here's one last WOOHOO!!! One down, five to go. We're not skeered. Red rover, red rover, send debt #2 right over!

7 comments:

joyce said...

Congratulations. I am so proud of you both, I know I sleep better at night knowing you are doing so well :) I praise God for your families strength to stick with a system that works and keeps you grounded, and your head above the waters of debt. We live in a society that believes you need it all and you need it now :( I still have trouble with your dad in that dept. and it is not easy....I try to follow Dave's rules but it is hard when your partner is not on board!!! So what a blessing you are both on the same page. Keep up the good work and here is a WOOHOO!!! from me:)

Meagan said...

Paying off a debt is one of the GREATEST feelings ever!! Congrats to you guys for knocking one out!!

Cassie said...

I agree with what your Mom said, it's very hard when your partner is not on board. But if you set to doing it, and that is the only thing you have you eye on, go for it! Since taking Dave's classes I have looked at every single thing I spend a totally different way. And every single thing I 'want' a totally different way. I just bought a "new" camera off of Craiglist. I knew I could not afford a brand spanken new one, nor did I want the payments that went along with it. I knew what I had in CASH to spend and I didn't settle. I was so proud of myself!! I only have a few more "debts" and I am stoked. I am hoping to only have a car payment by time I'm 25. That's finishing off paying two STUPID credit cards, ahhh, and cutting those bad boys up, and two student loans, one small one, one BIG one. Trust me, going without pedis and manis, and a new purse every other month, or this and that is totally fine with me!
Congrats on your accomplishment!! I am so happy for you guys. And I don't think I could ever see the two of you looking back thinking differently on your life now! You guys are doing great!
Oh and did you see the front page of msn.com today? Talking about how six billioniares live frugually. They must be on the Dave plan! Love it!!

Andrea Ingles said...

Good for you guys!! That's so exciting! I'm leaning towards doing the envelope system. I'm pretty sure we would be shocked on how much money we spend on FOOD! On the other hand, we will have all of our debt paid off (besides our house) this coming June, and I can't wait!!! Congrats on your accomplishment! :)

Adrien said...

Thank you, guys! I'm glad that there are other people working towards similar goals; makes me feel like we're not alone!!

Andrea - That's great! We'll be finishing up about the same time the FOLLOWING year, haha. Think about how much you guys will be able to start saving...or treating yourself with..either one is fun. :) I can't wait for that!

Living On Trees said...

I was sent over to your blog by a reader of my blog. I recently posted about feeling so lonely on this Dave Ramsey plan. Sometimes I feel like we are the only ones living on a budget--even though I know we aren't.

But I am in love with what I'm reading! Finally, I feel like I can connect with someone going through the same things that we are dealing with.

So my question is, when you paid of your first 8K, did you start with your highest interest rate debt or lowest balance? We are still chipping away at our first debt but sometimes it seems that we'll never get there! So easy to get discouraged!

But anyway, thank you for being so open and honest about your finances and helping me feel like I'm not alone on this journey to financial success!

Adrien said...

Thank you so much for stopping by! I've actually updated quite a few times about our financial journey since this blog post - we're still going strong!

We listed our debts from lowest balance to highest. It's a mental thing, really. It really helps to keep you motivated when you can knock out debt and see that you're making progress. The fewer payments you're making, the more encouraging it gets! We have two more debts to go. They are big, but we know we can do it. Good luck on your journey!!

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