In January of 2012, Clint and I found out that we were pregnant. We were ecstatic! Our original plan was to get pregnant around June or so, but God had other plans for us I suppose. Since we were planning to get pregnant, we were putting a little money aside in preparation, but not much. So with my excitement, came anxiety.
We started putting aside another $300-$400 each month, which was to pay medical bills and buy all the baby things we would need. Eventually, we needed more than we were saving, so we put a little on credit cards. When we decided to transfer our care to a midwife at the very end of the pregnancy though, we had to pay her immediately, so that also went on a credit card. Then, as we added a new member to our family, we had also added several thousands in credit card debt.
But let me back up a little. When I did finally decide that I did want to have children and Clint and I decided that getting pregnant during the Summer of 2012 was a good time, we also discussed me being a SAHM (Stay At Home Mom). If I was going to have children, I wanted to be home with them to raise them myself. I know not everyone thinks that way, and of course, I’m not knocking anyone for the way they do things… but that’s what we wanted.
Once we got the surprise positive on the pregnancy test, I stopped dreaming about being a SAHM and started looking into an affordable childcare option. I mean, we have car payments and a mortgage to pay and my salary helps pay them.
At the end of 2012, when Lucas was a few months old, Clint got tired of hearing me complain about being a WOHM (Work Out of Home Mom) asked me what it would really take for me to stay home. I started researching and making spreadsheets like crazy and really cracking down on our budget. Our budgeting software, You Need A Budget (YNAB) was extremely helpful for this! Click on this link for a $6 discount on the YNAB software.
It was during this time, that I found Dave Ramsey. After researching Dave Ramsey’s steps a little, I read his book [amazon-product text=”The Total Money Makeover” type=”text”]1595555277[/amazon-product], which I absolutely recommend.
[amazon-product align=”center” alink=”0000FF” bordercolor=”000000″ height=”240″]1595555277[/amazon-product]This is when I had my epiphany: I was never going to be a SAHM with all of the medical bills, credit card debt and car loans we had accumulated. Clint wasn’t sold on it at first, but has definitely come around. We’re not super strict DR (Dave Ramsey) followers but we do apply several of his principals and terminology to what we do.
Since January of 2013, we have sold a car, bought an older car, sold half of our furniture, bought cheaper furniture, and sold off almost every single thing in our house that is not used on a regular basis and paid off a large chunk of debt!
Over the next several weeks, in this series, I am going to share (in detail) exactly what we’ve done financially and how we’ve accomplished it. Since we aren’t yet debt-free, I will also post a ‘progress report’ at the beginning of each month showing you what kind of progress we made for the month prior. If you don’t want to miss then, be sure to Subscribe and they will be delivered straight to your Inbox!
Paying off our debt is extremely important to us so I hope you’ll join us in our journey to become debt-free (and a SAHM, for me).
Go ahead and order your copy of [amazon-product text=”The Total Money Makeover” type=”text”]1595555277[/amazon-product], and meet me back here next week for a recap of January 2013.Yes, I am going to be as transparent as possible and include our actual debt numbers, not fictitious numbers. Any questions for me before we get started?
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