Goal for 2009

Jon and I have committed to strive to become debt-free in 2009. While it may not all be eliminated by year's end, we have plans to make a significant dent in it. The plan is to have all of our credit cards and store accounts paid off in 2009, then move to cars, student loans and the mortgage in 2010 and beyond. We believe this goal is definitely do-able, though it's going to take discipline on both our parts to make it happen. We both know God doesn't want us in debt to anyone and we are extremely excited about what it means for our future.

We'll be following Dave Ramsey's financial plan outlined in The Total Money Makeover and my hopes are to take who ever reads this blog along on our adventure with us. While I may not post all the time about it, I'll try to keep updated on our milestones and little victories along the way.

Last year we began making significant strides, though we weren't following any particular financial plan. Just trying to be smart with our money and interest rates. We paid off and closed several accounts, but continued charging others and opening 1 or 2 more.

If you're familiar with Dave's plan, we are at an advantage because we already had babystep 1 done by having our emergency fund in place, so now we're moving on to babystep 2 and paying off all debts beginning with the smallest first, regardless of interest rates. We're also mapping out a strict budget every payday, planning on how every dollar will be spent. It's tough and a challenge, but we're definitely ready for the fight.

By the end of the month, we ought to have closed 2 accounts and be well on our way to closing the 3rd. Yes, these will have been relatively low charged accounts. But we're celebrating these "small" victories to help keep us encouraged towards the bigger goal.

Sooo.. here we go!!