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Total Money Makeover Challenge: 2013

Debt. The new four letter word. We all have it, and we all hate it, but can we live any other way? The answer is YES! My husband and I have been completely inspired by Dave Ramsey after listening to his book Total Money Makeover on CD. With a mountain of student debt and a brand new house we felt like we were going to be in debt forever but Dave has showed us that with “Gazelle like intensity” we can say good bye to all that debt and hello to a life without that nasty little four letter word.

I’m a “Type A” personality. Unlike other finance advise books, the Total Money Makeover is designed with people like me in mind. It was easy to read, inspiring and related to my life, but the best feature is a step-by-step plan of action to “live like no one else” – debt free & loving life!
There are 7 baby steps to complete your Total Money Makeover. Here’s our progress so far:
Step 1: Create a $1,000 Emergency Fund – We pooled money we already had in savings, a couple of refund checks that had come in the mail & a generous holiday gift from family together to reach this goal.
Step 2: Pay Off All Debt Using A Debt Snowball – This is the step we’re on currently. You apply any extra money you have each month towards paying off your smallest debt owed. For us that’s the balance on my car. We should have it paid off this winter. That’s when the “snowball” idea comes in. Instead of spending the money that normally goes to my car payment on other things you apply that full amount to your next largest debt. Continue this process on and on until all debt is paid off (saving your house for later!)
Here’s where my 2013 resolutions come to play – our goal is to be debt free except student loans and our house by the end of 2013. To do that we need to pay off the remaining balance of my car loan and two personal loans. With Dave’s advice, I know we can do it! Will you join us? Take the Total Money Makeover Challenge with us & tell us your 2013 goal in the comments below. We’ll help each other stay motivated this year & check in on everyone’s progress along the way. Together we can do this!
Start by ordering your copy of the Total Money Makeover by clicking on the picture above!


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