A little history if you will. February of 2007, Tim and I decided to get serious about our finances, we had credit card debt and it was seriously hindering us being able to do the things we wanted and needed to do, especially with being self-employed.
An opportunity came up at the church we were attending at the time to take the Dave Ramsey Financial Peace University course. We really wanted to take it but did not have the money to pay for the course. Someone at the church, we do not know who for sure, paid our way. At the end of April the course started and lasted for 13 weeks. I had been gung-ho on this if you will from the very beginning, hubby was really excited after watching an awesome video in one of the classes about a cheetah and a gazelle.... So if you can picture a Cheetah which can run about 70 mph, chasing a Gazelle which only has a top speed of 50 mph the chances of the Gazelle winning are slim most of the time. So as you watch this video, picture Dave Ramsey screaming at the top of his lungs RUUUNNN, RUUUNNN, RUUUNNN.....because You are the Gazelle and your credit card debt is the Cheetah as well as Credit Card Companies......So they call it Gazelle intensity, your sole mission is to get out of debt, run from Credit cards and Credit card companies.....
So once we saw that, Tim was totally convinced that this was a good thing, we could do it....so we started on our journey...ever since then, we have had our monthly budget, which has not changed...lol....and we have used the envelope system....we have paid for cash for everything, even our local utility bills. Every Friday I would cash our checks and sometimes between Friday and well....Tuesday...lol...the money would get sorted into the envelopes....
The ladies at the bank know me by name and can practically sort the paycheck in their sleep into the denominations I needed down to the 13 quarters, 5 dimes, 3 nickels and 10 pennies..... There is one teller, that I have shared a lot with about this journey and how freeing it has been.....there is less stress, no notices in the mail, things stay on track, there are no overdraft fees, and it is really very simple to accomplish...it just takes dedication, complete focus, intensity.....
Well here it is Tuesday and I hadn't sorted out our funds....well I did that today...I know we are getting close to being out of debt....so close that I am like hoarding every little possible penny to get out debt that much sooner...its like, if I could just take the whole entire paycheck and devote it to the debt, I would.....but then there would be no food on the table.....lol....Dave calls it Rice and Beaning it.....live on the bare minimum.....or rather his slogan...Live like no one else so you can live like no one else.....
Our weekly grocery allotment=$100.00 for all 6 of us and that includes any paper products and when we had our cat, all of its needs....any clothes, shoes, anything for school....it all came out of the grocery money...there just simply is no extra money....everything else goes directly to bills for each month...utilities, internet, life insurance, health insurance, gas ($30/wk), mortgage, auto insurance,etc.we have exactly .19cents each week that is not accounted for and that spare change gets saved every week and had already accumulated to $42.00 at last count and rolling....lol
Each week I write down the money for that week and I keep a running total in each envelope as to how much is there. So today I was adding up how much I had for our CC fund for the month.....I needed to have 526.02 for this months payment. As I looked through each envelope and tallied up where I might have extra money to add to the debt envelope....I saw that I was 10.00 shy of my goal.....ugghhhh....so close, where was I going to find 10.00 this week, there had to be 10.00 somewhere.....
Now, mind you, my bill is not due until the 28th...so there are actually several days left to find 10.00.....I sat there for a little while, went through the envelopes a few times, figured things in my head, added on paper.....no luck....and all of a sudden I remembered.....my spare change I had been saving just to use in this situation.....I went and found it and grabbed a $10 roll of quarters!
Why is this situation so important.....
THIS is our
LAST AND FINAL CREDIT CARD PAYMENT!!!!!!!!
For 17 months we have lived like no one else!!!! We have become accustomed to a new dinner menu that was not nearly as elaborate as it used to be....we have worn clothes and shoes until they were well past their prime....we have sacrificed major events in our lives so that we could stay on track.....and today, I sat there tears streaming down my face, realizing that I can walk into the bank tomorrow and make the last deposit to get rid of that huge burden that has been on our shoulders.....it took 17 months with an income of approx. 36,000 to pay off almost 23,000 in credit card debt.We will not be out of debt as of yet completely, I still have a 1500.00 medical bill from Tim's kidney stone last year that I have been paying on but at this rate, it will now be paid off by December 28th if not earlier in the month....
I am just so excited, no more interest rate fees, no more finance charges....I am hoping the teller at the bank is back from vacation tomorrow when I call, if not, I will wait until she returns...I know she will be just as excited as I am :)
God is so good!!!
