The Starting Point

My husband, Steve, and I have always tried to get ahead in our finances, but came to the conclusion sometime in 2009, that we would need to make more money in order to achieve that goal. We thought we were using every last penny we earned on necessary items, and once all our needs were met, there was just nothing left to save!

In January 2010, Steve and I decided to have a fresh start to our finances, and this time, to really take control. We took a course by Dave Ramsey offered at our church called Financial Peace University, and began our journey.

Dave Ramsey lays out 7 steps to Financial Peace:

1. Save $1000.00 for an emergency fund.
   
2. Pay off all debt using the Debt Snowball.
3. Set aside 3 to 6 months of expenses in your savings account.
4. Invest 15% of household income into Roth IRAs and pre-tax retirement.
5. College funding for children.
6. Pay off home early.
7. Build wealth and give! Invest in mutual funds and real estate.

By February of 2010, we had hashed out a budget plan which seemed to REALLY cut out pretty much anything except our bare necessities. By April, we were trimming that budget even more to make more room for saving.

We were able to easily pass through the first two steps, as we did not have to deal with a lot of debt, and now we are working on step 3.

I want to share with you a few thoughts we have and have had along our journey to financial peace. I have found many money-saving ideas, and ways to trim the budget. Please feel free to share your thrifty ideas with us as we continue to strive for Financial Peace!