I'm back!! :-) A 2-week break between posts isn't too bad right?
Thought I'd give everyone a little update on my Money Makeover 2011! First off, if you haven't heard of Dave Ramsey's "Total Money Makeover," hop-skip-and/or-run over to your local library or amazon.com and purchase this book ASAP. Even if you don't follow all of his steps, or even use his methods, you will gain so much from this book!
Step 1: Save $1,000 for an Emergency Fund. I cheated on this step just a bit...I only saved $500. I figured as a single person this should be enough if I would need it.
Step 2: Snow Ball Bill Pay-off. List your bills from low to high. Pay the minimum on each bill and any extra goes to the lowest bill. Pay if off and then apply that amount to the next smallest bill and continue until all bills are paid off. It makes perfect sense. One feels a sense of accomplishment from paying something off and each time you pay off one it means you have more money available to put on the next. So far I've paid off 2 little debts and it really does feel great! They were department store cards and then I had both of them cancelled, so I can never use them again! :-) It really does feel good and I can't wait to keep it going!
There are some additional steps after to keep yourself debt free, but I'm not there yet, so I haven't read that far in the book yet!
