Sunday, March 17, 2013
Our Debt Free Anniversary
I love this sweater. This sweater represents financial freedom to me. Let me explain....
In 2004 I had a lot of consumer debt, around $30,000. I starting dating Matt, my husband, and attended a budgeting class he was facilitating. I did not want to tell him how much debt I had...he was too cute:)
I finally told him and started budgeting. After we got married and had a joint budget I thought it was really boring. I like surprises and budgeting did not provide any surprises. Everything was perfectly planned out-blah.
The day that got me hooked on budgeting was the day I bought this sweater.
That morning, I put on a black sweater I had purchased it at a yard sale. However, soon after I arrived at work, I realized there was a huge hole in the armpit. Sometimes you can hide those kind of things or just try to not raise your arms all day:) There was no hiding this hole. I do not know how I missed it when I was getting dressed, but I did.
I needed a sweater and fast. So, I went to the mall. I saw the blue sweater in the picture above and wanted it so bad. But, it was around $40. I thought, "There is no way I am spending $40 on a sweater." I looked at other sweaters, but kept thinking about this one.
Then, I remembered I had money in my clothing account. I could buy that $40 sweater and feel no guilt because I am supposed to spend my clothing account on.......clothing! That was when I started liking the fact that we were living on a budget.
Within the first three years of marriage we paid off $28,000 in consumer debt, paid off our home ($72,000) and put away $20,000 for emergencies. A $120,000 turn around.
March 17, 2008 is the day we sent our final payment in to pay off our home making us officially Debt Free. So, on the day of green, we celebrate our accomplishment. It was a lot of hard work but it is totally worth it now.
We followed Dave Ramsey's 7 Baby Steps. The final step is Build Wealth and Give. So, we are doing a giveaway! If you share the link to this post on your Facebook page you will be entered to win one of the following prize packages:
1. Dave Ramsey's Envelope System, Total Money Makeover book, goal thermometers and 2 letter openers
2. Dave Ramsey's game Act Your Wage, goal thermometers and 2 letter openers
3. Paid tuition to Financial Peace University (If you are currently taking a class or have taken the class before, we will reimburse you for the cost of your kit up to $100.) Plus, goal thermometers and 1 letter opener.
Giveaway ends on Friday, March 22, 2013 at midnight PST. The winners will be announced Saturday, March 23, 2013.
Here are some links to get you to your Debt Free Anniversary:
Dave Ramsey's Quick-Start Budget http://a248.e.akamai.net/f/1611/26335/9h/dramsey.download.akamai.com/23572/daveramsey.com/media/pdf/forms/fpu_qbudget.pdf
Dave Ramsey's Monthly Cash Flow Plan
Dave Ramsey's Irregular Income Budget
Dave Ramsey's New Guide to Budgeting
Someone once said, "It's so funny how lucky hard working people are."