September 02, 2008

The total Money Makeover

Back in November my wife quit her job to be a stay at home Mom. That started a very trying time because I had to start working a lot of overtime to make up her income. She & I bought a book called "The Total Money Make Over" By Dave Ramsey. We've been using his strategy to try & become debt free. It's taken 6 months of me working 6, sometimes even 7 twelve hour shifts a week (72-86 hrs a week). But we are finally seeing some light at the end of the tunnel. My wife and I have paid off 2 high interest rate credit cards, one personal loan, & our minivan that we purchased a little over a year ago. As long as things continue going like they have been we'll be paying off our home loan in the next couple of months. We could afford at that point for me to start taking 2 days off a week on 3 weeks of the month. The 4th week I'd still have to work 6 twelve hour shifts. But that's not what I plan on doing. I will continue to work 6 twelve hour shifts a week, put the money we had been paying on the other bills & the extra money I'm making from the overtime and put it towards our 2008 Ford Fusion. If all things continue like they have been our car will be paid off by mid 2009. After the car is paid off we will be DEBT FREE BABY!!!!! Seriously, no debt at all in our name. No loans, no credit cards, no personal loans, no morgage, or lines of credit. Nothing but our monthly insurance, utilities, food, and other living expenses. God is good to me & mine. Through Him anything is possible.

3 comments:

rebecca hallin said...

THAT IS AWESOME! i had some debt about 3 yrs ago but got it all paid off and all I have now is a car loan. My bf that I live with has never had debt except the house payment which is only 800 and a car payment. I pretty much have learned that if I do not have cash I cant buy it! He is an account so manages money well! my friend BEcky will be at Ironman AZ this nov as a volunteer that is the one you are doing correct? plus Duane will be there too I think volunteering.

SWTrigal said...

Wow-that is really quite an accomplishment-I would love to see the book. You have been working so hard Cody and it must be amazing to see your hard work payoff!

skoshi said...

How in the world do you get yourself debt free when it comes to a house? I need your secret! Congratulations on making it happen for yourself and family.