How To save your money
I have always been a saver. In fact, in high school I began splitting my paycheck into a checking, savings, and car fund account. The car fund account was used to pay for car repairs as needed. My dad and I made the deal I would cover half on repairs, he would take care of the other half. I got tired of having a car repair and watching my entire paycheck go to paying my half. So, I decided to put a little aside each paycheck. That way I was ready for the repairs when they came. When I got engaged, I created a wedding fund. Splitting my check into four seemed like a no brainer to me. Just something I needed to do.
Well, we ended up paying for our part of the wedding costs in cash. My hubby too, began setting money aside as well. So we had enough to cover our wedding cost plus honeymoon costs.
Fast forward years. The car fund is still there. We use it for repairs and insurance. The wedding fund got turned into a different savings. Since then we have added in a vacation fund and gift fund, and a few others. Our paycheck splits out automatically.
We have been following Dave Ramsey for years. In some form or another we have been doing the baby steps. It wasn’t until a few years into our marriage that I began to read any of his books. He put to words what we were already doing and gave us a direction to head in, filling in the gaps where we were missing.
Following Dave Ramsey’s principles and steps isn’t always easy, but it is worth it. Take the time, be consistent, be patient and the payoff down the road will be bigger than you can imagine. Put a solid plan into place, set up a foundation, and keep pushing forward.
Something else to think about, yes, these things can be done on a one income household average income. Sure, there are some cuts had to make at first, but they have been far more worth it down the road. So much depends on where you put your focus, what you prioritize, and if you are willing to make the changes needed.
almost debt free
We are a family of 4. My hubby works and I am a stay at home mom. We all help out with our side business that we started a few years ago that is growing. Our student loans have been paid off for over a decade now, were paid off early, only a couple years after graduating. The only debt up to this point is the mortgage. And if the plan plays out like we are planning and hoping, our mortgage will be paid off next year.
Sometimes it is crazy to think about. We are a couple years away from turning 40 and we will be able to be mortgage free and totally debt free if all goes as planned. And we have our backups in place as needed, when needed.
So, now it is time to come up with our next projects and goals to save for.