Wednesday, January 13, 2010

A New Sheriff in Town!

One of our main goals this year is to get out of debt for good! We have made a lot of mistakes in the past few years,we have lived above our means at times and even when we tried to get on top of our debt it seemed like an endless black hole. This past year we made some progress with couponing, exercising some self-control, BJ taking a second job and utilizing WIC for some of our staples. I feel like we have gained some ground, but this year we are determined to put this debt behind us for good by May of 2011! One seemingly small way is we are going to the envelope system for our "Out Of Pocket" expenses which include: grocery/household, dining out, and gas. It is only our first week of using this system but it really is amazing how much more aware I am of what we are spending when it actually comes in paper form rather than a swipe of a card(which can be kind of numbing). Again, this is only our first week so I will keep you updated periodically how we are doing, successes and mistakes along the way.

There have been several people who have influenced us in this area of living debt free and using the envelope system, Money Saving Mom and Dave Ramsey, just to name a couple! In addition, I am going to take on a part time job to help pay back our debt more quickly! Our desire is to honor God in the this area of our life! Have you used the envelope system or something similar to practice discipline in your families finances? I would love to hear about it and learn from others!

Photo Credit:JeffCam

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