Financial Peace - March Update

In a previous post I laid out the foundation for a Total Money Makeover (TMM). Kevin and I are staying motivated and are so excited because we are seeing real results already! I've already received feedback from multiple people who are inspired and already starting your personal journey, and I am so EXCITED for you guys!! I can't wait to hear ya'lls success stories as well.

Like I said, we are already seeing real results and it's only been 2 1/2 months!! Here's where we stand at the end of March...




7 Baby Steps:
Baby Step #1 - $1,000 to start an Emergency Fund (Feb 2011)
Baby Step #2 - Pay off all debt using the Debt Snowball
Baby Step #3 - 3 to 6 months of expenses in savings
Baby Step #4 - Invest 15% of household income into Roth IRAs and pre-tax retirement
Baby Step #5 - College funding for children
Baby Step #6 - Pay off home early
Baby Step #7 - Build wealth and give!


Baby Step #2


OUR DEBT

Name of Card (Beginning Balance) (Current Balance)
Victoria's Secret CC: ($103) PAID OFF in February 2011
New York & Co CC: ($205) PAID OFF in March 2011
Capital One CC: ($466) --- ($134)
Chase CC: ($1,314) --- ($1,285)
Wells Fargo CC: ($1,469) --- ($1,439)
JCPenney CC: ($2,523) --- ($2,427)
Granny: ($3,620) --- ($2,870)
1st Financial CC: ($9,697) --- ($9,682)
Kevin's Truck: ($7,196) --- ($6,869)
Tia's Car: ($14,200) --- ($13,581)
Tia's Student Loan #1: ($1,341) --- ($1,272)
Kevin's Student Loan #1: ($1,448) --- ($1,448)
Kevin's Student Loan #2: ($12,274) --- ($12,274)
Tia's Student Loan #2: ($17,060) --- ($16,763)


TOTAL DEBT:  ($72,916) --- ($70,044) = Total Paid Off: $2,872 (WHAT!!!)

 
So to recap, in only 2 1/2 months we have saved $1,250 AND paid off almost $3,000 of our debt AND we still have money in our account. Let me tell you, I'm a numbers person, and I just don't get these numbers and how it's working out but IT IS!!

For those of you who have started, keep it up!! And those of you who need to, I urge you to consider going through your own Total Money Makeover! It is LIFE-CHANGING!!


Happy Sunday to all of you :)