While I posted a link to the 7 baby steps, in retrospect I decided that was a little lazy of me. How are you supposed to know how we are doing if you don't know what we are doing? Everything always looks different in retrospect.
Here are the steps:
$1000 set aside as an Emergency Fund
Done! As of 1.9 we have $1500 put back.
Begin paying off debt using the debt snowball
My personal debt stands at $6421 minus student loans. I honestly don't remember how much I owe. I think just another $2000 on those, however they are in deferment while we are in school, and we stay on top of the interest payments. My husband is wanting to file bankruptcy on his debt. I'm hoping to use my payments as incentive to him to snowball his debt as well rather than file bankruptcy!
Increase Emergency Fund to cover 3-6 months worth of expenses
Invest 15% of income toward roth IRAs and pre tax retirement
Set up college funds for the boys
Pay off house early
We owe another $29,000
Build wealth and give
As things are paid down and off, I will continue to update our progress at the end of each month. Our snowball fund is pretty low, but I'm sure with progress and a little grace, I'll be pretty suprised at how much we were able to accomplish at the end of the year!
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