The beginning of a new year means the beginning of a new financial year, at least to me. I love looking back on my finances for the past year and setting goals to improve in the future.
In 2014, I had big goals of eventually becoming debt-free in the next couple of years. I was 23k in debt ($23,487.93 to be exact) and I felt so much despair. I knew I didn’t want to go into a marriage and start a family with this debt hanging over my head. Instead of giving in to the despair, I decided to conquer this thing. My goal for 2015 was to pay off $7165.24 in debt (twice what I had paid off the year before.)
I am happy to announce….
I am just a little over $6,500 shy from being totally debt-free, but I’ve decided to put my debt-free journey on hold to save for a wedding 😉 Andy and I will therefore conquer my student loans as a team after we are married and we’ll get to do our Debt Free Scream on the Dave Ramsey show together.
Oh yeah and also…. I paid off my credit card!!!! I am Discovering what no credit card debt feels like, and it is A-MAZ-ING! I plan to continue using my card, but pay it off in full each month.
One of the things that was huge in my debt-free journey was You Need A Budget (YNAB) software. It has revolutionized my budgeting! Instead of doing the cash envelope system each month, I can have virtual envelopes tied right into my account register. No more keeping a checkbook! I can also pull reports to see where my money has gone…. and it just takes a click of a button!
I love YNAB so much I wish I could give each and every one of you a copy. Alas, I did not win the Powerball, so just take my word for it and do the free trial!