"Winning at money is 80 percent behavior and 20 percent head knowledge. Most of us know what to do, but we just don’t do it." - Dave Ramsey
Last night I started my first of a 13-week class, Financial Peace University (FPU). FPU was created by BFF Dave and is designed to help you learn how to better manage your money. This week's class spoke about savings and how it is crucial to make savings a priority.
As I've mentioned before, the first of the seven baby steps from Dave Ramsey is to start a $1000 emergency fund. Though I have worked on this baby step in the past, my plan is to restart this step and hopefully save a $1000 throughout the class. While it is said most people can do this in a month, I know that would be quite the hefty challenge to do in a month so I'm giving myself a bit more time.
For this week, we will be reading various chapters in BFF Dave's book, Financial Peace Revisited as well as creating a 'quickie budget.'
So, here are my beginning totals. According to data from the class, the average person pays down approximately $5000 of his or her debt and is able to save approximately $2000 during the duration of the class.
New emergency fund: $0
Balance on my car: $7,426.99
Balance on my student loans: $46,248.21
I challenge anyone to embark on this 13-week journey with me! Maybe you would like to create your emergency fund or would like to try to pay off a credit card. Let me know if you would like to motivate each other along the way!
My goal is to post an update from the class and updated totals every Wednesday as my class is every Tuesday through August 9th.
Showing posts with label BFF Dave. Show all posts
Showing posts with label BFF Dave. Show all posts
Wednesday, May 18, 2011
Friday, April 15, 2011
Financial Peace University - Officially Registered!
I am super excited! I registered for BFF Dave's Financial Peace University (FPU) Friday! The instructor had an extra kit so I was able to pick it up ahead of the start of our class!
FPU runs for 13 weeks starting in May! Woo hoo!
Wednesday, April 13, 2011
New Tires! BFF Dave would approve.
So today, April 13th 2011, I am getting new tires on my kia sportage.
Why on earth is this important?
It's quite the accomplishment really. Since around October/November, I've been on a crusade to save money, reduce spending and payoff debt. It - in one word - sucks. It's hard, it makes life even more difficult than it already was and it can sometimes be frustrating.
Today is one of those moments where I feel like my hard work is paying off. New tires are not cheap. Peter put a little bit towards them because he wanted to make sure I had very good, very safe tires but I saved $530. I DID IT. For three months, I've tucked away $10 here or $20 there. Our tax return was small, but we decided to put that towards the tires. Whenever I spent under my budget on groceries or other things for the month, that went towards my tires. Instead of buying a new shirt or new pants, I threw that money towards my tires. Whenever I had any spare money at all, it went into my "Tire Fund" envelope.
Other than housing or the down payment on my car, these tires are probably the largest purchase (in terms of the amount of money) that I have made. I know that perhaps $530 doesn't sound like that much money, but to me, it's a mini-fortune! AND I SAVED IT!
The best part about it, is that I paid cash for new tires without having to add to my enormous amount of debt - woo hoo! Yay! This is my first of hopefully many 'paying cash' milestones :)
I *really* needed this accomplishment because I've been really down the past week. I started last week with two additional sources of income. While not much, they did provide a nice little bit of padding for my savings account. This week, both of those side jobs have ended - which is fine. We are going to be ok; these jobs were helping to fund my next savings goal ($2000 saved) so it will just take me a little bit longer to get there.
Another thought that weighed heavily on my mind was the possible government shutdown. Neither Peter or I work for the government; however, most of his customers where he works are government contractors or employees. If they had shutdown, it is highly likely Peter's income would have suffered.
But it made me question how would we survive if either of us either lost our jobs or if we were laid off for an undetermined amount of time? It is a really scary thought! My goal after reaching the $2000 saved mark is to try and get enough in savings that we would have one-month of expenses stowed away for our emergency fund. I know that BFF Dave wants you to have your debt paid off before working on your three to six month emergency fund, but life is way too uncertain and we must all be prepared for the unexpected.
So, more cuts will be made to my budget. Through couponing, planning ahead and looking at various grocery store sales, my goal for the rest of April is to trim $30 each week off of our grocery budget which would lower our grocery budget each week to $50. It will be a challenge, but through savvy shopping and proper planning it is totally doable!
Goals for the remainder of April:
1. Register and pay for BFF Dave's Financial Peace University class being offered in Leesburg starting in May.
2. Cut grocery budget by $30 the last two weeks of grocery shopping for April thus allowing me to pay for said class.
3. Using the final round of paychecks from the side jobs to reach $2000 goal.
4. Plan out May's budget.
I can do this. I will do this. And again, I do apologize if I seem boring or ridiculous about saving money. I'm just so determined to be debt-free by the time I'm 35...and considering I have approximately $55,000 (remainder on car + student loans), I have a looooong way to go. I refuse to waste money right now.
Everything I spend money has a line item in my budget. If it's not in the budget, it doesn't happen. You may be thinking, but Ashley if you are saving money, the doesn't that mean you can spend it? ABSOLUTELY NOT! Emergency funds are intended for emergencies, not for going out with friends, new clothes, shoes, random things that look nice. Emergency funds are there when true catastrophes happen (job loss, death in the family, major illness). If you don't have an emergency fund, I highly suggest you start one. BFF Dave suggests a $1000 fund to start (or even $500 depending on your monthly income and expenses). Currently, we live paycheck to paycheck. If either of us were to miss out on a paycheck, our ability to pay our bills would be jeopardized so trust me when I say this: if we can get an emergency fund, you can too!
Looking for ways to save money? Perhaps some of these thoughts will help:
Do you really need cable? Internet? Nope. (We don't.) Those are luxuries, not necessitates.
Do you really need to spend a ton of money on groceries? Nope. Be a smart shopper!
Do you really need a fancy coffee drink every morning? Nope. You will survive. I promise.
Do you really need a new pair of pants? Nope. There will be plenty of clothes to purchase - when you are out of debt.
Also? Every time I feel discouraged or feel like I'm not getting anywhere, I'll just look at those new tires and receive an instant dose of encouragement.
Why on earth is this important?
It's quite the accomplishment really. Since around October/November, I've been on a crusade to save money, reduce spending and payoff debt. It - in one word - sucks. It's hard, it makes life even more difficult than it already was and it can sometimes be frustrating.
Today is one of those moments where I feel like my hard work is paying off. New tires are not cheap. Peter put a little bit towards them because he wanted to make sure I had very good, very safe tires but I saved $530. I DID IT. For three months, I've tucked away $10 here or $20 there. Our tax return was small, but we decided to put that towards the tires. Whenever I spent under my budget on groceries or other things for the month, that went towards my tires. Instead of buying a new shirt or new pants, I threw that money towards my tires. Whenever I had any spare money at all, it went into my "Tire Fund" envelope.
Other than housing or the down payment on my car, these tires are probably the largest purchase (in terms of the amount of money) that I have made. I know that perhaps $530 doesn't sound like that much money, but to me, it's a mini-fortune! AND I SAVED IT!
The best part about it, is that I paid cash for new tires without having to add to my enormous amount of debt - woo hoo! Yay! This is my first of hopefully many 'paying cash' milestones :)
I *really* needed this accomplishment because I've been really down the past week. I started last week with two additional sources of income. While not much, they did provide a nice little bit of padding for my savings account. This week, both of those side jobs have ended - which is fine. We are going to be ok; these jobs were helping to fund my next savings goal ($2000 saved) so it will just take me a little bit longer to get there.
Another thought that weighed heavily on my mind was the possible government shutdown. Neither Peter or I work for the government; however, most of his customers where he works are government contractors or employees. If they had shutdown, it is highly likely Peter's income would have suffered.
But it made me question how would we survive if either of us either lost our jobs or if we were laid off for an undetermined amount of time? It is a really scary thought! My goal after reaching the $2000 saved mark is to try and get enough in savings that we would have one-month of expenses stowed away for our emergency fund. I know that BFF Dave wants you to have your debt paid off before working on your three to six month emergency fund, but life is way too uncertain and we must all be prepared for the unexpected.
So, more cuts will be made to my budget. Through couponing, planning ahead and looking at various grocery store sales, my goal for the rest of April is to trim $30 each week off of our grocery budget which would lower our grocery budget each week to $50. It will be a challenge, but through savvy shopping and proper planning it is totally doable!
Goals for the remainder of April:
1. Register and pay for BFF Dave's Financial Peace University class being offered in Leesburg starting in May.
2. Cut grocery budget by $30 the last two weeks of grocery shopping for April thus allowing me to pay for said class.
3. Using the final round of paychecks from the side jobs to reach $2000 goal.
4. Plan out May's budget.
I can do this. I will do this. And again, I do apologize if I seem boring or ridiculous about saving money. I'm just so determined to be debt-free by the time I'm 35...and considering I have approximately $55,000 (remainder on car + student loans), I have a looooong way to go. I refuse to waste money right now.
Everything I spend money has a line item in my budget. If it's not in the budget, it doesn't happen. You may be thinking, but Ashley if you are saving money, the doesn't that mean you can spend it? ABSOLUTELY NOT! Emergency funds are intended for emergencies, not for going out with friends, new clothes, shoes, random things that look nice. Emergency funds are there when true catastrophes happen (job loss, death in the family, major illness). If you don't have an emergency fund, I highly suggest you start one. BFF Dave suggests a $1000 fund to start (or even $500 depending on your monthly income and expenses). Currently, we live paycheck to paycheck. If either of us were to miss out on a paycheck, our ability to pay our bills would be jeopardized so trust me when I say this: if we can get an emergency fund, you can too!
Looking for ways to save money? Perhaps some of these thoughts will help:
Do you really need cable? Internet? Nope. (We don't.) Those are luxuries, not necessitates.
Do you really need to spend a ton of money on groceries? Nope. Be a smart shopper!
Do you really need a fancy coffee drink every morning? Nope. You will survive. I promise.
Do you really need a new pair of pants? Nope. There will be plenty of clothes to purchase - when you are out of debt.
Also? Every time I feel discouraged or feel like I'm not getting anywhere, I'll just look at those new tires and receive an instant dose of encouragement.
Monday, March 14, 2011
"Setting a goal doesn't guarantee success; it just gives you a target. You still have to work your tail off to hit it." - BFF Dave
Oh BFF Dave, you are spot on with that quote. You want success? Work hard. Not willing to work hard? You don't get success. Makes perfect sense to me.
Speaking of working one's behind off, my to-do list is a mile long this week. Seriously.
So, I've decided to take today (Monday) as a day to figure out what the heck I need to accomplish this week, make a to-do list and cross things off as they get done:
-Take all the miscellaneous crap out of my car.
-Vacuum said car.
-Wash said car.
-Run Tuesday.
-Run Wednesday.
-Attend cycle class Wednesday.
-Run Thursday.
-Run Sunday.
-Do ALL of my laundry. Every. last. bit. of. it.
-Straighten out the disaster I call my side of the closet.
-Figure out the April budget.
-Actually take an hour of my life (or two) and SERIOUSLY organize my coupons.
-Go to RiteAid.
-Follow-up with application references.
-Finish 'Forbidden Daughter.'
-Complete my blog for That's Fit.
Actually, this list doesn't seem too bad. It's just a matter of finding the time and energy to kick myself into high gear.
Ready, set, goooooooooooo!
Speaking of working one's behind off, my to-do list is a mile long this week. Seriously.
So, I've decided to take today (Monday) as a day to figure out what the heck I need to accomplish this week, make a to-do list and cross things off as they get done:
-Take all the miscellaneous crap out of my car.
-Vacuum said car.
-Wash said car.
-Run Tuesday.
-Run Wednesday.
-Attend cycle class Wednesday.
-Run Thursday.
-Run Sunday.
-Do ALL of my laundry. Every. last. bit. of. it.
-Straighten out the disaster I call my side of the closet.
-Figure out the April budget.
-Actually take an hour of my life (or two) and SERIOUSLY organize my coupons.
-Go to RiteAid.
-Follow-up with application references.
-Finish 'Forbidden Daughter.'
-Complete my blog for That's Fit.
Actually, this list doesn't seem too bad. It's just a matter of finding the time and energy to kick myself into high gear.
Ready, set, goooooooooooo!
Friday, March 11, 2011
“Your actions should show you care about money by learning something about it.” - BFF Dave
Why is saving money, being on a budget and working towards your goals so difficult?
Because it causes you to stare at yourself, criticize your habits and realize that you – yes you – made and continue to make really, really bad decisions. No one WANTS to be criticized and told that he or she is doing things incorrectly, but to make serious changes it is a necessary evil.
I am really struggling this month and I’m not quite sure why. I have done a fairly good job of saying no, putting money into savings and being a better budgeter but this month has been disastrous. It is also frustrating knowing how hard I’m working and not seeing that reflected in my bank account.
BFF Dave says to do whatever you have to do to take in extra income when you are going through his baby steps plan. I’ve already started a part-time job one day a week, but I briefly considered picking up a second shift at the gym on Wednesday nights, but after one evening shift I was so sore, so cranky and so tired that the extra money didn’t make up for how awesome I felt. Sorry, BFF Dave…
BFF Dave also says that fixing your financial plan is 80% behavior and 20% knowledge and I truly believe that. I know WHAT I need to do, I need to actually do it. It’s like saying you want to lose weight, but not changing any of your behaviors. You can’t lose 20 pounds and still eat fried foods, drink sugary drinks and eat massive portions daily. I can’t save money and pay down my debt if I lose focus and start falling back into some old traps.
Saving money + paying off debt = happiness (and a house in the future.)
Spending money frivolously + not paying down debt faster = failure (and no house in the future.)
I choose happiness over failure.
So, here’s what I’m going to work on this weekend:
-Organize my coupons.
-Plan my menu for the week and make a grocery list.
-ONLY buy items on said grocery list.
-Figure out the budget for April.
-Figure out the budget for the rest of March.
-Change direct deposit form for work so that $25 automatically goes into savings.
-De-clutter and go through items to see if anything could be sold at a consignment shop or on Amazon.
Final quote from BFF Dave, “I am not against the enjoyment of money. What I am against is spending money when you do not have money to being with.”
Tuesday, February 22, 2011
"Failure is not a single, cataclysmic event. You dont fail overnight. Failure is a few errors in judgment repeated every day." - Jim Rohn
Failure isn't the absolute worst thing that can happen to you - if you learn from it. If you don't learn and continue to fail, well that could be a problem.
As I mentioned, I finished BFF Dave's "Total Money Makeover" book. I really enjoyed the book. It helped me learn and to open myself to new financial outlooks.
In the first chapter, BFF Dave talks about how you are the source of your financial problems - and to change those problems, you have to not only change yourself/habits, but also reflect on how you got yourself into your situation.
So, how did I get myself into debt?
1. I bought a condo.
In 2007, I graduate from grad school and moved to Charlottesville. While searching for a place to live, I thought, "Well, hey! I'm an adult now. Sure, it sounds like a GREAT idea to buy! It's practical and it's cheaper than renting." In theory, yes it seemed like a good idea, but on a $32,000 salary, a $1040 mortgage plus $199.55 HOA fee was actually pretty stupid. But, I managed. I got a credit card, even worked a part-time job for a few months and made things work.
Then, 2009 happened. I was pretty unhappy with my job. I was job searching but I was having an absolutely awful time finding a job. So awful, in fact, that one of my rejection letters - I kid you not - was mailed to me with a sticky note that read "rejection letters" still attached to it. I was discouraged. I had a Master's degree, and at this point, some experience and couldn't find a job. It was a tough decision, but I accepted a temporary position working with my uncle. In Maryland.
In case you were wondering, yes, Maryland is kinda far from Charlottesville so we moved!
I will always wonder what might have been financially had we not moved to Maryland and had been able to keep the condo, but I've also learned that I can't dwell on the things that I can't change. All I can do is learn from those situations and move on. I'm moving on.
The condo ruined my credit. Tried to ruin me. But it hasn't.
2. I took out student loans.
Student loans = the devil. No, seriously, if you look up "devil" in the Dictionary According to Ashley, you will very clearly see the definition: devil, noun - loans of a student, used to pay for education.
In college, I should have worked more hours at my work study. I should applied for an on-campus residence life graduate assistanceship. I should have worked a part-time job. But I didn't. Shoulda, coulda, woulda.
Instead I took out student loans.
Me, circa 2002-2007: Yippee! Money! Woo! Yay! The government looooooves me! Woooooo!
Me, circa 2009-present: Devil. Student loans. Suck. You, yes you. #$!@!& [insert random assortment of choice four-letter words.]
(Random aside? I totally missed my calling as a theater or acting major seeing as I'm clearly dramatic.)
I've moaned and groaned about the amount I owe, and my point right now isn't the amount. It's that I could have prevented the amount, or kept it a little more reasonable. But I didn't. Putting on my big girl pants, moving on and literally paying the price.
3. I bought a new car that if I had been smarter about, I probably didn't need.
Catastrophic engine failure. That's the term Peter and I use to describe what happened to my shiny, adorable Hyundai Elantra. Overheating is apparently a bad thing. BUT, had I showed Peter or the guys working on my car my extended service contract, I probably could have had Kasey (yes, my Elantra had a name. Don't judge me.) fixed for around $100 bucks.
I don't need BFF Dave's advice to know that I made a stupid decision to buy a new car because I *wanted* a new car. I didn't NEED a new car. I have a new car, a Kia Sportage (her name is Lola. Again, no judgement.) and I absolutely love it, but I think I would love NOT owing $8500. Just sayin'...
4. I like pretty things. A lot.
Sigh. Sex and the City. You liiiiiiiiiiiiiiiiiiiiiiiiiiiied. I, unlike my favorite girls, do *not* get to spend all day drinking, eating and chatting. I, unlike my favorite girls, do *not* have a beautiful, expansive (read: expensive) wardrobe yearning to be worn out to the most fabulous locations.
Before meeting Peter, I shopped a WHOLE lot more than I do now. I'm ashamed to admit it, but I would buy things and not try them on, thinking (read: hoping), Oh? This dress is on super awesome sale? It's a size smaller than what I wear? No biggie! I'll lose weight and find a great place to wear it! Yay!
Just so you know, it is a biggie, I didn't lose the weight and there was never a place to wear it.
5. Credit card + binge eating = Fat and broke
It is embarrassing how much money I used to spend on food! What is more embarrassing is how much food I used to eat! I remember living in the sorority house, driving to Taco Bell and ordering a 7-layer burrito (with no guacamole, because clearly, eating the ONE part of the taco that might offer some nutritional value would just be silly) with nachos and THEN going next door to Wendy's for fries and a chicken sandwich. Sad but true. I'm trying not to cry as I type that, because it's so embarrassing BUT because I'm all about reflection, I'm reflecting...and it's no wonder why for so long a 258 pound, sad - and broke - girl stared back at me when I looked at myself in the mirror.
So, what have I learned?
Lesson 1:
A little hard work never hurt anyone, and can help you in the long run.
Solution: Part-time job.
Lesson 2:
Pretty things are pretty. If you have room for them and can afford them.
Solution: De-cluttering and selling some minor things.
Lesson 3:
Do MUCH more research and have down payments for large purchases.
Solution: Spend more than three weeks searching for next home in the future and save, save, save before purchasing either a new vehicle and/or home.
Lesson 4:
Budget and plan not only money for food, but calories for the my daily intake.
Solution: Plan meals in advance and take into consideration cost as well as nutrition contents. Also? Hitting the gym never hurt. Also, also? Coupons rock!
Facing yourself in the mirror and realizing how much work you - yes, YOU! - have to do to make some serious changes is really, really tough but it is awesomely liberating. I highly recommend it, especially if you have some hard changes you need to make whether it be financial, healthy lifestyle or a combination of things!
As I mentioned, I finished BFF Dave's "Total Money Makeover" book. I really enjoyed the book. It helped me learn and to open myself to new financial outlooks.
In the first chapter, BFF Dave talks about how you are the source of your financial problems - and to change those problems, you have to not only change yourself/habits, but also reflect on how you got yourself into your situation.
So, how did I get myself into debt?
1. I bought a condo.
In 2007, I graduate from grad school and moved to Charlottesville. While searching for a place to live, I thought, "Well, hey! I'm an adult now. Sure, it sounds like a GREAT idea to buy! It's practical and it's cheaper than renting." In theory, yes it seemed like a good idea, but on a $32,000 salary, a $1040 mortgage plus $199.55 HOA fee was actually pretty stupid. But, I managed. I got a credit card, even worked a part-time job for a few months and made things work.
Then, 2009 happened. I was pretty unhappy with my job. I was job searching but I was having an absolutely awful time finding a job. So awful, in fact, that one of my rejection letters - I kid you not - was mailed to me with a sticky note that read "rejection letters" still attached to it. I was discouraged. I had a Master's degree, and at this point, some experience and couldn't find a job. It was a tough decision, but I accepted a temporary position working with my uncle. In Maryland.
In case you were wondering, yes, Maryland is kinda far from Charlottesville so we moved!
I will always wonder what might have been financially had we not moved to Maryland and had been able to keep the condo, but I've also learned that I can't dwell on the things that I can't change. All I can do is learn from those situations and move on. I'm moving on.
The condo ruined my credit. Tried to ruin me. But it hasn't.
2. I took out student loans.
Student loans = the devil. No, seriously, if you look up "devil" in the Dictionary According to Ashley, you will very clearly see the definition: devil, noun - loans of a student, used to pay for education.
In college, I should have worked more hours at my work study. I should applied for an on-campus residence life graduate assistanceship. I should have worked a part-time job. But I didn't. Shoulda, coulda, woulda.
Instead I took out student loans.
Me, circa 2002-2007: Yippee! Money! Woo! Yay! The government looooooves me! Woooooo!
Me, circa 2009-present: Devil. Student loans. Suck. You, yes you. #$!@!& [insert random assortment of choice four-letter words.]
(Random aside? I totally missed my calling as a theater or acting major seeing as I'm clearly dramatic.)
I've moaned and groaned about the amount I owe, and my point right now isn't the amount. It's that I could have prevented the amount, or kept it a little more reasonable. But I didn't. Putting on my big girl pants, moving on and literally paying the price.
3. I bought a new car that if I had been smarter about, I probably didn't need.
Catastrophic engine failure. That's the term Peter and I use to describe what happened to my shiny, adorable Hyundai Elantra. Overheating is apparently a bad thing. BUT, had I showed Peter or the guys working on my car my extended service contract, I probably could have had Kasey (yes, my Elantra had a name. Don't judge me.) fixed for around $100 bucks.
I don't need BFF Dave's advice to know that I made a stupid decision to buy a new car because I *wanted* a new car. I didn't NEED a new car. I have a new car, a Kia Sportage (her name is Lola. Again, no judgement.) and I absolutely love it, but I think I would love NOT owing $8500. Just sayin'...
4. I like pretty things. A lot.
Sigh. Sex and the City. You liiiiiiiiiiiiiiiiiiiiiiiiiiiied. I, unlike my favorite girls, do *not* get to spend all day drinking, eating and chatting. I, unlike my favorite girls, do *not* have a beautiful, expansive (read: expensive) wardrobe yearning to be worn out to the most fabulous locations.
Before meeting Peter, I shopped a WHOLE lot more than I do now. I'm ashamed to admit it, but I would buy things and not try them on, thinking (read: hoping), Oh? This dress is on super awesome sale? It's a size smaller than what I wear? No biggie! I'll lose weight and find a great place to wear it! Yay!
Just so you know, it is a biggie, I didn't lose the weight and there was never a place to wear it.
5. Credit card + binge eating = Fat and broke
It is embarrassing how much money I used to spend on food! What is more embarrassing is how much food I used to eat! I remember living in the sorority house, driving to Taco Bell and ordering a 7-layer burrito (with no guacamole, because clearly, eating the ONE part of the taco that might offer some nutritional value would just be silly) with nachos and THEN going next door to Wendy's for fries and a chicken sandwich. Sad but true. I'm trying not to cry as I type that, because it's so embarrassing BUT because I'm all about reflection, I'm reflecting...and it's no wonder why for so long a 258 pound, sad - and broke - girl stared back at me when I looked at myself in the mirror.
So, what have I learned?
Lesson 1:
A little hard work never hurt anyone, and can help you in the long run.
Solution: Part-time job.
Lesson 2:
Pretty things are pretty. If you have room for them and can afford them.
Solution: De-cluttering and selling some minor things.
Lesson 3:
Do MUCH more research and have down payments for large purchases.
Solution: Spend more than three weeks searching for next home in the future and save, save, save before purchasing either a new vehicle and/or home.
Lesson 4:
Budget and plan not only money for food, but calories for the my daily intake.
Solution: Plan meals in advance and take into consideration cost as well as nutrition contents. Also? Hitting the gym never hurt. Also, also? Coupons rock!
Facing yourself in the mirror and realizing how much work you - yes, YOU! - have to do to make some serious changes is really, really tough but it is awesomely liberating. I highly recommend it, especially if you have some hard changes you need to make whether it be financial, healthy lifestyle or a combination of things!
Friday, February 18, 2011
"The difference between a dream and a goal is a plan." - Dave Ramsey
One of my favorite songs on Miranda Lambert’s “Revolution” cd has a line that goes, “I’m not easy to understand but you know me like the back of your hand. I’m your girl and you’re my man. And we’re makin’ plans…”
Not to be too lovey-dovey, but I think it’s very fitting for a number of reasons. One, I adore my husband and he loves me more than I ever thought possible. And two, we are legitimately making plans. And I think Dave Ramsey *whom (or who?) I just decided shall now be known as BFF Dave* would agree that we have dreams that have morphed into goals because we have a plan. And those of you who know me, you know I have to have a plan. While I can fly by the seat of my pants, I am so good about writing down what it is I need to do to get to where I want to be – and I’ve been making progress on my plans!
February Updates!
Goal one: Financial Fitness
Without giving away TOO much personal information, I’m ecstatic to say that I am making progress in my baby steps from BFF Dave (can you tell I’m drinking the BFF Dave kool-aid?)! I am moving onto baby step number 2: debt snowballing!
I am also reading “Total Money Makeover” by my BFF Dave. I love his no-nonsense approach. Though he is a bit harsh at times, it is very necessary to read. For example, he point blank says you (aka me, myself and I) are the reason for your money problems. Too often we (read: I) try to blame others or even things that happen as the reason but really? I made those choices. I knew what I was doing. Did I know what the outcomes would be? No, but I could have prevented some of my problems. I am my own problem and you know what? I’m FIXING myself therefore fixing my problems – with a plan.
Sometimes it's difficult but I know it will be worth it in the end. As BFF Dave says, you have to learn to say no. This past weekend I was fortunate to spend some time with some great friends from grad school. But I also knew my financial limitations. I enjoyed myself and stayed within my budget. In fact, I spent a little bit less than I planned. You know what I did with the leftover amount? If you guessed, "put it into savings?!" you would right on the money (pun totally intended).
Starting with March, I will be paying $325 on my car payment. If my math is correct, I will still be paid off within two years; however, I will need to raise my payments again down the road. Also in March, I will start receiving my small yet helpful paychecks from my part-time job, so I can continue to save AND pay off debt. I am still working on funding my “being prepared” fund – which for me is drastically different from our emergency fund. I will need tires in the spring which is coming up soon as well as paying my car taxes. Time to start preparing!
Goal two: Create and maintain a healthy lifestyle
I finished 30 day shred and I’m slowly losing weight. I have to often remind myself that I’ve made some really awesome progress and that in time, the rest of the weight will come off. I’m so excited and ready to just be healthier. It’s very motivating. I’ve said since the beginning that I would be so upset if one day the doctor told me one day that I had health problems that could have prevented by something as easy as diet and exercise.
I LOVE the treadmills at the gym where I work. They are super fancy. I know I couldn’t afford a gym membership right now, so I’m very thankful to have the opportunity to use their facilities.
Goal three: Broaden my intellectual horizons
The fact that I’m reading a nonfiction, non-Jen Lancaster book is really quite an accomplishment :) I’m excited to finish “Total Money Makeover” and look forward to picking up more financial books. I completely believe that the more that I read, understand and learn through books, resources, websites, etc. the better I will become at my money management skills. In fact, Caroline mentioned the Dave Ramsey Radio Show and I now listen to him instead of the radio at work starting at 2pm. Sometimes I’ll even listen to the archives of his show.
AND I can’t believe it but I’ve actually MADE PROGRESS on my doctoral application. YAY! I have two recommenders confirmed, my writing sample and resume submitted and I’ve requested my transcripts. I am trying not to get my hopes up because I don’t want to be terribly disappointed if I don’t get accepted to the program; however, it’s hard not to get excited about the opportunity to further expand my education horizons.
We are moving right on into March and I’m dubbing it “Makeover March,” as I’ve got so many things on my “to-do” list! Next post: Plan for Makeover March!
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