I went back and forth on the title of this post. I actually wanted it to be named: My Love Affair with Dave Ramsey. Hahah. I am not joking! I thought that would be too weird though….my humor is an acquired taste.
Anywayyyyz. My life changed when I realized who Dave Ramsey was. Subsequently so did Paul’s.
I never thought I could get on a budget! I still struggle! One minute I want to spend all of my disposable income on makeup and the other I want to pay off all of our student loan debt! Thankfully neither Paul or I have credit card debt as well. Though a year ago, if I realized I could spend whatever I wanted on a little plastic card with “no worries” I would have. Or at least the credit card companies want you to think spending above your means brings no worries.
It was over the summer when Paul and I moved the wedding up that I realized I didn’t even know how to balance a checkbook. I was the Queen of Late Fees. Literally. Before leaving for college I had to pay off over $500 dollars in late fees I had acquired by not paying attention. I did not want to make that mistake in our marriage. I wanted both us to be paying attention to our finances!
For Paul and I both it was also daunting knowing that we were starting our marriage with $45,000+ in debt. Paul affectionately calls his part of the debt his “finder’s fee”, for finding me! Which is cute, but still expensive!! I never realized what a sacrifice later in life those Federal Loans would be. Don’t get me wrong, I don’t regret going to college I just wish it wasn’t so expensive! No matter what, those were some of the best years of my life, I came out with a great degree, I am with Paul, and have a great starter job for my career.
The Baby Steps
In Dave’s plan there are seven baby steps to financial success for your whole life! C’mon everyone can get through just seven steps right!? Well, it is harder than I thought but completely worth it!!
His biggest motto is: Live like no one else now, so that later you can live like no one else. What an inspiration! I was hooked from the start.
Today Paul and I are in Financial Peace University. This is Dave’s nine week class to teach you everything you need to know about money. Paul’s parents bought it for us for Christmas and when I opened the present I started crying. I am so grateful for them and what they gave us to help with our future.
Paul and I are on Baby Step 2: Paying Off Debt. This is one of the toughest to get through but we are chugging along.
This post was actually sparked by the fact that Paul and I officially paid off part one of his two Sallie Mae loans! The interest rate on his Sally Mae loans are so high! Last year alone they collected almost $3,000 dollars in interest!! That is crazy!!
There is such a feeling of relief knowing we just knocked out, for good, the loan with the highest interest rate!! This was one of our smallest debts but even the small wins are victories!
It is so exciting to say that we are a little bit closer to being debt free and able to start thinking about a house down payment, retirement, and more disposable income!
If you want to know more about Dave Ramsey feel free to message me!