debt free

We are now officially 100% debt free! This is such a good feeling. In October we paid off the last debt aside from the house.



Soon after, we put our house on the market. After just two weeks and two days we got TWO offers on our home in the same day!



What a blessing in the housing market today.



As of January 19th of this year we closed on the house and now owe no one any money!



As far as our baby steps go we are currently on baby step 3: 3-6 months of expenses in a savings account. (fully funded emergency fund)



We currently have 3 months and are working on getting the rest funded by April of this year.



The plan as of now is to rent and put away as much money as we can toward the purchase of a home. I would like to pay cash for a home. I know this is an attainable goal, it's just a matter of how long it would take us.



If we could find a stealin' deal on a house I would not pass that up but for now I would like to save 100% for the purchase of a home. No official timeline has been set on this goal as I'm still working on getting someone else in the home to go along with that big dream.

(Just in case you didn't know them or had forgotten them) Here are Dave Ramsey's baby steps to financial freedom:

Baby Step 1: 1,000 to start and Emergency Fund

Baby Step 2: Pay off all debt using the debt snowball

Baby Step 3: 3-6 months of expenses in savings-3 months down, aiming for totally funded by April 2010

Baby Step 4: Invest 15% for retirement-we are currently putting a minimum of 13% (more at times) into an investment. Guess it's time to kick this up a notch!

Baby Step 5: College Funding-We need to talk a little more about this one. I personally think that a little financial contribution from the student helps with how much they apply themselves in class. Not really sure just how much we will be contributing, but thanks to DR, we can use the financial calculators on mytotalmoneymakeover dot com to find out just what we should be putting toward this step.

Baby Step 6: Pay off home early Some could consider this accomplished, however, we have no home now! I would say this is completed more so when we have funding for or a paid for home.

Baby Step 7: Build Wealth and GIVE! This has already been started on as far as the giving part. It's so exciting to look around and see those that need a helping hand and don't even know that you're the one that offered it! What a blessing.

I'm so excited to reach financial freedom in our lives.

I say all of these things in the hopes that our situation can be motivating to you and show you that it really can be done!


It's also been so nice to not have nearly as many addresses to change with this move...no one is after us for money!