We’ve been working the Total Money Makeover system for just over a year now. This February we are signed up to take Financial Peace University for the second time (yeah life time membership), and that has us motivated to kick it up a notch. Without further delay, here are our successes from the last 12 months and our goals for the next 12 months.
What We’ve Done So Far:
- Paid off $13,319.67 of debt!!!
- Sold small things in garage sale – $200 income & de-cluttered the house
- Cut back on TV package – Saves us $15 per month
- Went from smart phones to normal cell phones – Saves us $50 per month
- Added home phone – Doesn’t cost extra but will hopefully lower cell phone usage in 2014
- Got life insurance – Let’s face it, because you just never know
- Using cash and auto pay for most payments/bills – Saves us on stamps and hassle PLUS a few of our service companies offered a discount for doing so
- Creating a monthly budget together and following it – This has been HUGE for us. Getting on the same page was NOT easy, but it was SO worth it
- Switched dog food – Saves us $30 per month
- Stopped coloring my hair – Saves us $50+ per month
- Cut back on eating out – Saves us $50-$300 per month & has forced us to get more creative in our social lives. (Thankfully, we have amazing friends who are willing to eat at our house instead of a restaurant.)
What We’re Looking Forward To Doing This Year:
- Suspend all retirement contributions until our debt snowball is finished – Although we’ve been following the program all year and Dave recommends this daily, I’ve really struggled with stopping since it was so ingrained in me to always contribute to retirement.
- Write a will – Like I said above, you just never know.
- Cut back our cell phone plan once we see the results of our new home phone line
- Consider cutting down TV package to just the basics – We already have the smallest package Directv offers, but by calling to negotiate we learned they have even smaller packages they don’t advertise.
- Continue to earn extra income whenever possible
- Research disability insurance
- Goal: Pay off all debt except student loans & mortgage in 2014
Where are you in your Total Money Makeover? Whether you’re a seasoned pro, or a brand new participant, I want to hear from you in the comments below!
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