In September, I first blogged about our goal to become debt-free. Well, that was 6 months ago, so I thought it was time to fill you all in on what's been going on in our household.
Our ultimate goal is to be completely out of debt, except for our mortgage. We are absolutely done with consumer debt and since I graduated nearly 9 years ago from college, I'm ready to be done with my student loans. For 6 months, we have gone to a cash system: I take out $100 each month for my own fun-money, and I also taken out $250 every other week for groceries and household items. The only charges we make are on our Debit card (the $ comes directly from our Checking account), and those are for things like prescriptions and gas. If either Joel or I want to do anything "extra" like buy clothes for the kids or go out to eat, we always talk about those decision together.
Let me also say that our marriage has grown stronger because of this. We are finally on the same page financially. But we are also focused on the same goal and we are both 100% committed to that goal. We are not hiding any purchases from the other person. We both feel extremely free now!
So, do you want to know how much our little military family has paid-off since September? $9,200. Over $9,000 is off our backs. Our load is lighter and it feels so good!
I have a lot of friends who are struggling to manage finances with debt hanging over them constantly. Let me just encourage you... if we can do it, so can you! It's not fun. There is a whole lot of self-denial. But we can finally see the day when we can say we're debt-free... and it's not too far away!