This Monday Memory post is more of a memory-in-motion: an anniversary post. We have just completed our third year of management under Dave Ramsey's Total Money Makeover. In this one year, we have paid off another $12, 233 in debt, for a three year total of … are you ready for this? … $36,106!!
Astronomical, I know. And in those three years, we have not only chipped away at our debt, but we have also constantly had to replenish our emergency savings fund. We've had to buy a new refrigerator, dishwasher, hot water heater, dryer, van, and car, and I'm probably blocking out a few more big-ticket items. We've put thousands (yes, thousands) of dollars into various repairs, especially to our vehicles. We've also done some things Dave probably wouldn't approve of, like taking trips to Disneyworld and Williamsburg. We would have been closer to paying off that hideous debt had to not taken these trips, but sometimes "they grow up so quickly" takes precedence.
We started Dave's plan because we were sliding into that dark pit of debt, as much of our generation is. You can read our whole story here. The vast majority of our debt: school loans from graduate school. Our goal was to pay off our school loans before Jesse goes to college, but that seems a bit unreachable now since he has just another year and a half. Still, if we have a great year without any major expenditures and forego a family vacation, we might just make it. But whenever it happens, there will be much celebrating around here when we call Dave and scream,
"We're debt free!"
(I was just practicing.) If you aren't familiar with Dave Ramsey and need a financial guru who speaks simply and directly, please get to know him. His plan is truly simple and sensible. Today is the last day of his fantastic $10 book sale. All of his amazing products, including the book that changed our lives—are only $10. If your finances are already warm and fuzzy, then you might want to buy a copy for a Christmas gift.