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Our One Year Total Money Makeover Update

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 packageSaves us $15 per month
  • Went from smart phones to normal cell phonesSaves us $50 per month
  • Added home phoneDoesn’t cost extra but will hopefully lower cell phone usage in 2014
  • Got life insuranceLet’s face it, because you just never know
  • Using cash and auto pay for most payments/billsSaves 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 itThis 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 outSaves 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 finishedAlthough 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 willLike 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!
Disclaimer: This post may contain affiliate marketing links that compensate me for sales.

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