So, someone gave us Dave Ramsey's book "The Total Money Makeover" for our wedding (this was over 2 years ago). I started to read it when we got back from our honeymoon, but thought, this is only for people who are REALLY in debt. We don't make much money and we don't have THAT much debt so it doesn't really apply to us. We tried having a budget but were lazy with it and it flopped. Now, we make much less money than we did before because I am not working besides tutoring a few hours a week. Needless to say, I have started reading the book again and am inspired. Most of our debt is for my student loans from both my undergraduate and graduate school, with only a small credit card balance. The point is, we need to know where our money is going and we need to have an emergency fund and get rid of that student loan debt. We used to look at it as, "we don't have any car payments like most people, so the student loans are just like a monthly payment that we will keep paying for awhile." I realize now that this is wrong because those payments seem to get less and less. At the end of each month we end up stressed out and mad at one another because we are scrounging to find the money to pay all of the bills.
So, we begin the total money makeover as of today. I am excited and dreading it at the same time. For me, I struggle with getting a coffee or a diet coke or something like that when I'm out with Levi. While this is just a dollar or two at a time, it adds up. We find excuses to "treat" ourselves with things like take-out food or beer. We've had a really stressful day or we've worked really hard that week. While in reality, I am realizing that we are adding to the stress by doing those things. It's going to be extremely hard, but I really hope that we can be successful with this and stop having to worry about money. I want my kids to have college paid for and to be equipped with better financial knowledge than I have had, and so I think it is important to get control now before we are really out of control.
If you are friends with us, please don't ask us to do things that will cost us money. Please pray for us and encourage us as we start this very difficult but rewarding journey.
Wahoo for you! Its awesome that you guys are doing this now before you have a ton to get out of. Have you look much at the tightwad gazette? she's got so amazing ideas.
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p.s. at least read the testimonials in the back. they'll make you feel like your situation is SO doable.
I know how you feel. Grad school + no job is stressing me out. I've had to be very careful with my savings so that I manage it well and don't run out! It is so hard when people ask you to go out to do things. Like you said, all of those little coffee bills add up. Good luck!
ReplyDeleteThanks Lindsay and Amy! Amy, yes I have looked at the book. Some things are very helpful and encouraging. I need to give it back to you! I will have Jordan give it to you on Sat.
ReplyDeleteWe have that book, too! It's a great thing, and I need to be sure that Kevin and I get back on a budget as well...it's not easy, but it'll be worth it some day when you can look back and say you did it!
ReplyDeleteYeah. Dang student loans!!! Btw we MIGHT be coming to Geneva for homecoming. Not sure though with this whole budget thing..haha. Laurel and Paul want us to stay with them. I know you have Hilary, Adam and Cayden staying with you anyways so I thought you wouldn't mind.
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