When Andy and I decided to become debt free I got excited, then depressed, then excited again. You see, I was excited about the fact that we were going to change our family tree, vacation a lot and do all these things we were dreaming up. However, I also knew that if we were going to realize these dreams, we had some very tight years ahead. Ultimately, I decided the short term-loss would be worth the long-term gain and I started figuring out ways to start spending less.
If you want to improve your financial situation, you need to develop and live on a budget. By doing this, you are creating a detailed map that will guide you to financial freedom.
When my wife Nicole and I started our marriage, we were $50,000 in debt and spending money like it was our full-time job. I, for one, had no issue going on vacations, driving cars and updating our home all on credit.
When we started thinking about having kids, Nicole and I knew it was time to break our addiction to debt. We knew we needed a plan to master our money.
We had heard that developing a monthly budget could help us in eliminating debt, saving more money and reaching our goals. So, we gave it a go. It was rocky at first, but soon it became habit.
The catalyst for this major change in our lives was creating and sticking to a monthly budget.
How would you like to retire at the age of 35? Sounds impossible, right? Well, our guest today, Steve Adcock, figured out how to do it.
We work hard. We earn money. We buy stuff.
Then, that stuff requires repair, maintenance and software updates. Before you know it, your stuff is out of style. You’re on version 3 when the rest of the world is on version 7.
We work harder. We earn more money. We buy more stuff.
Are we in control of our things or are our things in control of us?
3 years ago, Nicole and I moved into our forever house. It was love at first sight.
Compared to our previous 1,100 square foot bungalow, this new tri-level home had a bigger yard, an open floor plan and neighbors that became instant friends of ours.
When it came time to choosing the mortgage, we didn’t want our dream home to turn into a nightmare.
Last year, we decided to cut the cord on cable TV.
I believe it was the “12-month promotions” that finally pushed us over the edge. You know the ones I’m talking about, right?
One random day five years ago, I was eating lunch at home and messing around on this new thing called an “iPad”.
Because I’m a money nerd, I went to the iTunes store, searched for personal finance and I found Dave Ramsey’s app. Before that $5 footlong lunch, I knew nothing about Dave Ramsey. By the time I finished my meal, I was absolutely hooked on his brand of no-nonsense debt elimination advice.