Many Changes

In June of 2009 I posted this it was not until January of 2010 that we actually signed up for Financial Peace University.

And I have not written on the blog in a year, we continue to make progress.  I think the biggest lesson we have learned this year, is that no matter how much you plan, life will happen.  We had some repairs, unexpected bills and more unexpected bills last year and the first half of this year.

1.  Repair our well for a total of about $600.
2.  Dental work $3,500.
3.  Car repair $1,800.
4.  Tax bill $4,644.
5.  Car accident repair $700.
6.  Another car accident repair $500.

And we own our two cars and have $2,894 left on our home equity loan. We took that loan out in 2005 for a total of $42,000.  After the home equity loan we will attack the student loan.  We are full of optimism, so opposite from where we were those dark days in 2009.  Things can turn around, for anyone at anytime.  You just have to step out and embrace the change.

RHINO

We met the goal yesterday by paying another $624 to our car!  We are at $7,940!  And here is our debt thermometer!

We are making great progress!

We should be done with the car by May 4th +/- and that would be 2 months from paying off Jer's car!  And Jer has picked up a few extra jobs with his carpentry business and that has helped tremendously!

Next up the Home Equity Loan that we have been paying on since 2005.  It will be nice to have that one done.

Jer runs his 1/2 marathon on May 6th.  We signed up for a 10k in October. Yikes.  It is very exciting and intimidating at the same time.

Week 6

We are in week 6 of our challenge to pay off $7,500 in 8 weeks.  We are at $6,400!  On Monday I will send another payment to the car! 

We are doing well and are thrilled! 

It is true that it is a mind shift, not just about money about our lives.  We meal plan, we stick to the grocery list and live on cash only. 

We will replace our furnance in May, paid for in cash.  Our furnance has really worked hard for us, I mean really hard for us.  When we bought our house in 2004, it was deemed at the end of it's life.  But as the home inspector said, "doesn't mean it will die today, but you will need to replace it soon."  Uh, well 8 years later...

After we have paid off the debt, saved our emergency fund and go to Disney, we will replace the roof.  And pay for it in cash. 

I picked up the book, "Your Money or Your Life," another personal finance book to feed our minds on our journey to wealth!

We may be late bloomers when it comes to much in our lives, but changing these things has made such a huge impact to our family!

Freedom

We are going to have that car paid off by April 30th!  I sent a $1,714 payment to the bank last night.  We just received a reimbursement check of $400 and on Thursday we will send another $585 to the bank.  Car 1 paid off on 3/6/2012.  Car 2?  Fingers crossed for 4/30.  Not too shabby!

As of 5/1 we will be focusing on the home equity loan and we should have that one done late September early October.  While we are speeding along I would be remiss if I didn't admit that  things will happen that will prohibit us from sending extra payments to our debt.  I get it.  But it feels beyond awesome to have a plan.  Now, I feel like a grown up!

Killin' it?

Why, yes we are!

Another asset?

We are on track to pay off car number 2 the first half of May!  BEYOND excited!  As I remember back to when we started I am saddened at how little progress we made.  But then I am excited to see how much progress we have made since Nov/Dec 2011.   We are going to have the Home Equity paid off in October.  If we can push that date up, that would be beyond BEYOND wonderful!!!  Jer has a couple of carpentry jobs coming up and that will help us, too.  We are closing on a refinance on Wednesday and this will save us approximately $356 a month.  All the more to go towards the snowball.

It really is so exciting to the debt falling.  And to know that we will have a fully funded emergency fund.  And that we will be able to retire with plenty of money.  And that we will take the kids to Disney...

It really is AMAZING what you can do with a plan!

We have an ASSET

We paid off one of our cars today.  We are on track to pay our second one off in the next 8 weeks.  SO awesome and it feels better than words can describe!!!

More snow

We have received a good tax refund, it enabled us to pay of a couple more things and make further progress on the car.  We made a debt thermometer and it really is by each debt, so although we are paying down on all debts, this helps us focus on the one we are working to pay off currently.  By the second week in March this car should be done and we will be focusing everything on the next one.

We have done some things to help with the acceleration of our debt pay off.  We joined a challenge in which we need to pay down $5,000 in 8 weeks, beginning, March 1st.  We mapped it all out and we should be able to pay down roughly $7,000 in that time period.  It is getting exciting and every dime truly counts!!  We are also in the process of refinancing which will save us roughly $350 a month on our mortgage.  Additionally when we have a mortgage free month that will get paid towards our debt.  We need to be better about getting our stuff onto Craig's List and we are going to have a yard sale in April.

Things are happening!!!