I need a total money makeover.
Not familiar with Dave Ramsey principles? He wrote a book called The The Total Money Makeover that just resonates with me. There’s a great following of people in the same shoes, paying off debt one step at a time. I appreciate the community because I desperately need it. I listen to this book on my commute over and over. Right now, I’m getting the “Baby Step 1” back in order in just a regular savings account. I also just set up additional checking and savings accounts to help with our budgeting.
Here is a layout of all my accounts:
- Joint account (it’s the main account we use the debit cards on regularly and pay all bills from except below)
- Home Maintenance
- Car maintenance/repairs (someday also a car replacement contribution), registration
- Gifts for birthdays, weddings, and Christmas
- Emergency fund ($1000 for now, someday 6 months of expenses at BS3)
Debt has not blessed me.
I’ve been in denial that our debt wasn’t an issue. Has debt really BLESSED your life? Paying that car payment every month instead of building wealth? Throwing hundreds of dollars at credit cards you used–to buy crap that you didn’t even end up really liking? (I’m looking at you, Target shoes and deep red lipstick that shouldn’t wear off…) Honestly it’s been a huge stressor for me for a long time. It’s been even worse since the build went to poop and everything was way more expensive than we had planned. I honestly don’t care what anyone else thinks anymore. I truly hope that this time I don’t let myself down and wonder why I’m still a mess two years from now. So here’s the scoop. We make good money. We suck at managing it.
Goals for January:
- I need to get Baby Step 1 (BS1) funded.
- No spending other than absolute essentials and required debt payments.
- QUIT BUYING STARBUCKS COFFEES. *tears*
- Menu plan for month, keeping balance between cost and nutrition needs.
- Track budget through Every Dollar app.
- Have weekly budget meetings with my husband (he hates these).