Total Money Makeover Update: The Road Ahead

If you’d ask, I’d truly say that Chad and I are compatible.

But compatible doesn’t mean that we agree on everything.

As we continue reading the TMM book, we disagree.

Not on everything, but on a few.

Last chapter made the point that a lot of money issues stem from heart issues.

Do we buy things we can’t afford because we want people to think we’re “cool”? Because we think we “deserve” the best? Because we “have to”?

In examining that part of our lives, I think we are option C.

The biggest portion of our debt is student loan debt.

I don’t think either of us realized how quickly that adds up. And how while we called it “necessary”, there are things we could have done to combat it.

Either way, we have money to pay off.

And we do agree on that.

Which brought us to the next chapter: Baby Steps.

“Baby Steps” , which he refers to as the small steps you take to win the debt battle start with saving an emergency fund.

That step we already had done, because we believe that “Murphy” has a good chance of showing up in the form of a car repair, or a replacement washer. Or something like that.

(If you don't know who Murphy is, look him up. But my guess is that you have already met him at some point in your life!)

The second is to use the “debt snowball” to pay off debt.

You use the worksheet, list your debts smallest to largest, and one by one pay them off while remaining current on the bigger ones.

You also put any extra money found in the monthly budget into paying it off.

Once that is done, you move the money you were paying on the smaller one into the next biggest to pay that off…etc.

The idea is that the little victories keep you going, and make you feel like you're making a dent in it.

I know I need that to not get discouraged. 

Chad sees the bigger picture and doesn't need that as much, but he's sacrificing his wants to work with me. 

(He's pretty cool like that!)

Listing out each individual student loan was no cake walk. Ugh.

We hate owing people money.

But then again that’s why we’re on this journey!

I think we’re starting to get a little excited, but it’s going to be a long road.

Remind me of this excitement when I really want to go shoe shopping, okay?