Monday, February 15, 2010

Ramsey Update!

First of all, I’ve been doing a pretty good job staying on my budget this month- after December and January’s budgets both going kaput, I wasn’t sure how this month would go. I did completely forget that two of my immediate family members had birthdays this month (Bethany FAIL!) but was still able to buy them gifts by rearranging some things on my budget. Even though we’re about halfway through the month, I only have a week left until March’s paycheck will take over.

Secondly, I paid off another credit card!!!!

I updated my information to the right- you might notice I didn't pay off the next lowest debt but jumped to the next to last one. The reasoning behind that move, that Dave Ramsey probably wouldn't agree with, is that the 3rd debt on the list is to my family- that's an interest free debt that I'll pay off after the credit cards and before the school debt. The 4th one on the list is another credit card debt, but it's interest free until October 2010. The debt I paid off was only interest free until next month. I'm not sure what Dave Ramsey would do in my situation, but that's how I choose! Haha!!


Hope you all have a great President's Day!

14 comments:

  1. Congratulations on paying off another credit card! Even though you're not quite debt-free, I know from experience that every little part that's paid off is a HUGE milestone.

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  2. Congrats! Jeesh, just my College/Master's loans are still in the $30,000 range. I'm hoping to get paid off by the time I'm 40, which is unfortunately closer than I would like ;)

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  3. I love Dave Ramsey. Saw him in ATL this fall. Congrats on one card down! He is so stubborn on his plan but I think you are definitely doing it the right way for you! Keep going. I actually LIKE rice and beans so it makes it easier!

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  4. Congrats on paying off a card! I know that feels good!

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  5. You were very fiscally responsible to pay off that debt. I think your family would understand and if they really really needed the money now, I'm sure they would have told you.

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  6. Good for you for not taking Dave Ramsey's word as the gospel. He can be a great motivator for some, but his advice definitely needs to be tailored to individual needs, strengths, weaknesses, etc.

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  7. Makes sense to me!!! I have a feeling you have put much thought into it and are making wise decisions!

    Blessings-
    Amanda

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  8. I think you made a wise decision!

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  9. That's AWESOME...keep it up. I'm really impressed, I'll be needing to do the same thing soon, thanks for the inspiration & for visiting me!

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  10. Good job, Bethany! So good to see the numbers going down, eh?

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  11. Woo-hoo!!!! Congrats! You should be proud. :)

    We have not done well w/ staying on budget the last month. It all stinks. However, we should be paying off a credit card this month, so that's good.

    Keep it up! You are kicking butt. ;)

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  12. Good for you! I'm not familiar with Dave Ramsey's philosophy, but most financial planners would advise you to pay off the highest debt credit cards first. So, it sounds to me like you made the right decision. Keep it up!

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  13. Bethany,
    I totally commend you for paying off another credit card! Yay! PTL. Remember the saying, "It's not where you are but direction you're going" that is important!
    Blessings,
    Wendy

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Life is not measured by the number of breaths we take, but by the moments that take our breath away. Comments warmly welcomed! :-)