Monday, January 13, 2014

Doin the debt talk.

If you've been reading for a while, you might remember a post about Caleb and I getting serious about our debt right after we got married. Well, we kind of fell off the wagon because we thought "we're only young once...lets spend some cash", oh how naive we were. January is full of expenses, I'll just say it. Between the weddings I'm in, oil changes, Caleb's last college course, and BM dress alterations, we didn't have much room to budge this month.

So, we're finally hopping back on the wagon that is Dave Ramsey...and it makes us weirdly excited. I'm going to write this here so that I feel like we're held accountable...
Our goal in 2014 is to pay off between $15,000-$20,000 in debt.

Phew. That is a lot of cash...but our big goal is to be debt free in 2ish years. I know that we can do this...every other Friday we'll be hitting up the ATM to pull out the budgeted cash; we are only giving ourselves $20/month each to do whatever we want with, our tithe to church, our gas fund and grocery fund. Caleb and I fell off the wagon because we stopped using cash. A lot of people with discipline can just use their debit cards, but I just can't....swipe swipe swipe. $5 here, $12 there, $7 here...it all adds up, and fast.

So we're back to our cash envelopes, and couldn't be happier. We didn't spend a dime this weekend. It was incredible.

Also, if you read that post a while back, I talked about starting a "Date on a dime" series, and I think I'll actually do it this time. Since we have so little to spend on ourselves/each other, we have to keep things interesting, as our budget will be slim since we're paying off a lot of debt.

So what did we do this weekend?
Visited our BFF's Sallie & Perkins and had a mega game night! We're talkin, Bananagrams, a heated round of Monopoly, puzzle races, and more Banangrams...oh and I tried perfecting Erin's Sallie's braid.


So, all you crazy folks out there...what do YOU do to save a few bucks or earn extra cash!?
Thanks for all your encouragement, we're ready for this next chapter in life!

16 comments:

  1. We use mint.com and love it! We work like the dave ramsey system but not with cash, we just are diligent with the budgets we set on mint.com

    Every so often I do a month of "making dinners with what we have." Where I basically get creative with random foods we have in our pantry and fridge and we only buy the fruits/veggies/lunch items from the grocery store. Sometimes it saves a whole ton! We also really limit our personal spending. We usually a lot around $20-40 and sometimes it's just enough for one of us to do a little extra something with.

    Good luck! We paid off a little over that much last year so it is totally do-able!!!

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  2. I'm weird & I stuff ANY cash I get (change, leftover ATM cash... whatever) into a little coin purse I have in my underwear drawer (because that's where cool kids keep extra mooo-la) It's one of the many ways we save. (Even if only a small amount). Because the money is hidden and it's not in our bank accounts to spend! =D

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  3. I know you guys will be able to accomplish SO MUCH this year! Once you get rolling it's addictive and exciting and you guys will be kicking that debt to the curb in no time! So glad we always have each other to have good, cheap fun with :)

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  4. Dave Ramsey makes me strangely excited too! I've been listening to his podcast almost every day! I'm super excited about my financial goals in 2014 LOL (I can't believe I just wrote that!!)

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  5. So do Sallie & Perkins have twins lurking in the background? ;)

    I actually was doing bills the other day and realized I hadn't really bought anything that we didn't need in awhile. It was a good feeling - but of course its time to grocery shop and that's where we get into trouble because Keith eats anything and everything faster than I can keep it in stock. I try to use up our groceries before getting new ones but sometimes it just doesn't work!

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  6. You can do it, lady! You will feel so much better once that debt monkey is off your back :) Totally worth it!

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  7. You guys can totally pull that off! I'm a strong believer in cash envelopes, but I also have the we're only young once attitude. Balance it out by saving for your fun also...Start a "Fun" envelope, or make it specific, like "Vacation" or whatnot & put some in there periodically also. Also "out of sight, out of mind" Hide it, but not so good that you lose it. Just put it out of sight so there is no temptation to dip into it. (Also, it can double as emergency cash- should something come up)
    It's easy and hard all at the same time. lol But...it's usually so rewarding so that usually makes it worth it!

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  8. I REALLY need to have some friends over for game night, we used to have game nights all the time in college with my roommates + friends but haven't had one ONCE since I graduated and I miss it! I know you guys can kick your debt in the butt if you keep your mind on it, good luck!!

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  9. The cash system is my favorite. Michael and I have been doing it for a bit now and it just makes you really think before you drive through the drive through or grab a whole bunch of things at Walmart that we really don't need. YOU CAN DO IT FRIEND!

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  10. So encouraging! Teach me your ways!!! I would love to join in!

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  11. Gahh this makes me want to start my budget goals for this year!! You guys can do it!!!! :)

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  12. I'm totally right there with you about the debit card. I can just swipe, swipe, swipe and not really think about it. Until you look at your bill and realize that you have no money. We are trying to be better with our budget so we can some extra spending money. I like the idea of getting cash out and having a cash budget.

    I love reading your blog!
    Thank you for all the great tips!
    http://innerworkingsofthefemalemind.wordpress.com/

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  13. I think it's so great that you have a plan to pay off your debt so quickly. If you live frugally for a few more years just think about how much you will be able to save! I was very disciplined when I was younger because I didn't have a lot of money. It would definitely be good for me to be that disciplined again!

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  14. So proud of you guys, love you both!

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  15. swagbucks.com/refer/pumpkindreams you can get gift cards for free & its so worth it.

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  16. Having a plan on how to pay your debt is a great start for your new year. This will keep you focused on your goals. It can be challenging, especially since you have to create a tighter budget. But thinking of the bigger picture, you'll get out of debt that much faster. Besides, there are many fun ways on how you can still enjoy even in a tight budget. And one of those are the puzzle games night that you had, or a DIY projects for your wedding. What do you think?

    Charlena Leonard @ Weidner Law

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Thanks for your comments, I read and respond to every single one of them! :) Excited to get to know you!