Wish me luck...starting my baby steps TODAY

[ajh88]

Today is the first day of the rest of my life.

Things have been tight for us ever since I quit my "real" job to go back to school. DH and I have substantial CC debt from a few years of trying to keep up with the Joneses' (and a couple of years of staying afloat). We've been stuck in a vicious cycle and we finally started taking some drastic steps to move in the right direction.

In December, we moved from our home (which we could no longer afford) into a "spare" house my parents have - it was a rough move for all of us, but you can't beat no rent/no mortgage. In case I haven't said it today, I love my parents.

In January, all of the credit cards were cut up to smithereens. We hadn't really used them for awhile, but it was official. We have been using only cash or debit since then and it feels good. We've been getting our act together and preparing to attack our debt once and for all. We did take a 2 day vacation to Tulsa to see the JoBros (it was DDs joint birthday present from several family members) and it was all paid with cash (and the hotel was free with loyalty program points).

So, today I start holding myself accountable - even if it is to a bunch of strangers in cyberspace. Today is the day I become a gazelle - I have 1 year, 9 months, and 11 days until I graduate and my goals are:

1. Be rid of ALL credit card/loan debt at that time (with the exception of my student loans from my current schooling)

2. Pay CASH for my graduation celebration trip in 2011 - we have started working on the budget but I probably won't start putting money away for this for awhile (my income will increase substantially when I graduate - like about 6-fold - so I should be able to whip the cash together in a couple of months if all other debt is paid off).

DH has 2 jobs right now and I have one - with full-time school and full-time work, I can't work a 2nd job and still pass my classes (and failing out of school is NOT an option!). As soon as I'm done with this post, I'm writing my August budget and then I'm taking pictures of a bunch of junk (er, treasures) for ebay.

So, off I go - wish me luck!

 

[DT83097]

Congratulations and good luck!! We make our last payment (except our house) at the end of this month. Leaving for WDW in 6 days and the trip is paid for (in cash)!! It won't be easy but it will be so worth it when you are done!

 

[Jennifer in MI]

Way to go!!!! Now, keep posting and hold yourself accountable to us!!! Congratulations on your baby steps!!!

 

[Maddykins06]

Yaaaay for you & your DH! Major lifestyle changes are always challenging (otherwise, EVERYONE would do it!), but you are doing a great job already!

GO! GO! GO! It will be sooo worth it in the years ahead!

P.S. I won't graduate until 2013, so we can keep each other focused & motivated!

 

[PinballFamily]

So, today I start holding myself accountable - even if it is to a bunch of strangers in cyberspace.

Good luck! I've found (most!!!) of the strangers on this board to be very supportive and encouraging to those of us who are making the commitment to budget — and therefore, spend — more carefully. More supportive (and objective...), perhaps than family and close friends!

Best wishes as you embark upon this adventure! There will be tough times, but you'll build momentum — and pride — each time you place something you thought you wanted (but didn't NEED) back on a store shelf, pay off a debt in full, and watch your savings grow.

 

[thebeesknees]

Good for you! It can be tough sometimes, but the end result is soooo worth it.

 

[Dancemom03]

Wishing you the best of luck. Ebay can be a wonderful resource. If you don't already have a paypal debit card, request one today and try to make a habit of withdrawing those pp funds at the end of the day. Often, when there's a change in activity level, paypal can limit your account without notice until information is verified. It'd be awful to be counting on $$ you were saving in pp only to be prevented from withdrawing them when the time came.

One thing I can share that's helped us save $$ is to use cash only. I didn't believe it until some unauthorized charges showed up on our checking acct last Spring and I had to cancel my debit cards. Then I changed banks for good measure which further delayed the arrival of a replacement debit card in the mailbox. I was amazed at how much I didn't spend when I couldn't just swipe the debit card to do it. By the end of the month, we had a nice little bonus we never expected - cash left over...