Emergency fund is the first step in becoming debt free in the book "Total Money Makeover." You should have $1000.00 saved. I am almost to my goal. It's getting exciting to think in 2 years we will be totally debt free!
Saving money has been tough but it's going to be worth it. Over the last few months I have saved a lot of money by using coupons on just about anything. I have found online coupons and coupons for clothes, shoes, groceries and dining out etc.
All of the money that we save is added to the emergency fund to be able to move on to step two "Pay off all debt by using Debt Snowball" faster. This step requires you to list all of your debt and pay off the smallest to the biggest. If you do this then you can see results quicker and you won't get discouraged.
"Live like no one else, so that later you can live like no one else" quoted by Dave Ramsey! I love this quote because while we will be sacrificing, we actually will be living like no one else. We are going to have to stop spending money on lots of things. This is going to be a very hard step. Someone suggested we do a budget, that it might help. Does anyone have an easy budget tool to use?
Until my next post, happy saving to get closer to your goal!!!!
Interesting post. I'll be watching to see if anyone comments about a budget tool.
ReplyDeleteI'm now following you from Surfin' Saturday. Hope you'll check out my blog too.
Jan http://www.jewelry4change.blogspot.com
Thanks for following. I will check out your blog.
ReplyDeleteI need to be debt free...I'm glad I found your blog
ReplyDeleteFellow Blog Hopper:)
http://www.giveawayswithgrace.com/
Are you taking the FPU course offered by Dave Ramsey? I'll be starting that next month in my church.
ReplyDeleteGrace, it can be done. It just takes a little determination.
ReplyDeleteBetty, I have not taken the course yet. I have looked at where and when they are being offered and they are offered at other churches at the same time we have church. Prayerfully a door will be opened so we can attend.
Jill, Thanks