How do you eat an elephant? One bite at a time.
Neither Tommy nor I were raised with good money role models. Tommy was insulated from all things financial at home and dodging bill collectors was just a "normal" thing at my house. It did not beceome an issue until the last few years. We initially got into significant credit card debt when Tommy's income was cut in half in 2006-2007. After his income picked back up, we added to our credit card debt through wasteful spending. We also spent our cash like drunken sailors and didn't save. Although we don't have collectors calling us, a large percentage of our income is spent on payments. Lately it has been weighing on our minds.
But, things at our house are changing...
Last month, we attended a Common Cents class at our church which was basically a beginner's taste of Dave Ramsey's Total Money Makeover. At the end of the class, we received a copy of the book. I feel like I finally have a plan to one day be out of all this debt. We even made a written budget - Seriously! We are just on Baby Step #1, but it feels good!
I plan on updating at the end of each month to put out there how we are doing. I hope it keeps us on budget and accountable.
Have any of you ever done Dave Ramsey? Are you debt free? Should we take Financial Peace University?
My name is Nikki and I plan on drinking a Bloody Mary while cutting up my credit cards!