Check Up

Oh My Goodness!  Ummmmmm, Has it really been January since I’ve written a blog?  That’s a little crazy.  I was planning to keep myself accountable for reaching my goals through this blog.  

I’m going to do better.

Here  is where I am with my goals:

Money:  We started out with nothing in our emergency fund and a little over $37,000 in debt.  To be exact it was $37,875.22.  Here is that blog.  So, I think we’ve been doing fantastic.  Here are the numbers now:

          Baby Step One:  We are almost there.  We will probably hit that goal in August.  We are at $740.73 right now and it’s very exciting to know that if Murphy decides to move in for a while we’ll be ok.  We are planning a trip to Arkansas in December so all savings after August will go to that and we will start Baby Step three in January.  Baby Step three is a fully funded Emergency Fund.  Fully funded means 3-6 months of expenses just in case Murphy decides to become a long term house guest.  Our goal is $23,000.

*NOTE:  Murphy is the guy with the law that says “If anything can go wrong it will”

          Baby Step Two:  This is really exciting to me.  We started January with $37,875.22 as you read above.  We are now at **drum roll please**  $25,832.76!  The prospective date to be completely debt free except for the house is March 2021 but I’m sure we’ll get there sooner than that.  

After Baby Step two is complete we are going to veer off from the Dave Ramsey plan just a tiny bit because I’m going to take the debt snowball amount and put half into funding the Emergency Fund and half into paying off our Mortgage so when we retire we can be completely debt free including our house.

As for retirement accounts.  Mr. Ramsey suggests stopping contributions to retirement accounts until the debt is gone.  I’m just not comfortable with that since we are a lot closer to retirement than I’d like to admit.  After the mortgage is paid off we will up our contributions.

I just ordered the book “Retire Inspired” by Chris Hogan.  I’ll let you know what I think about it after I read it.  This is it on Amazon.

I’m still doing my monthly budget in my Open Office spreadsheet that I got from YouTubers Chris and Jackie, Gazelleintents.  They don’t post anymore but they have a 3 part tutorial on how to set up the budget.  You can go to Everydollar and get a free version of Dave Ramsey’s budgeting software.  I’m considering doing that but what I’m using is working so I’m not sure.

So that’s it for my update.  These are real numbers, I have nothing to hide. I’ll update other goals in another blog.  So, I’ll see you in the next update.

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