Before becoming a regular member on this site last year, we didn't have a solid financial planning. We went about our business as usual. After many adviced on this site, we began to pay closer attention to our family budget. We began tracking our spending; lunch, dinner, groceries, and all the little things we hardly paid attention. We began funding our emergency funds and improved our overall financial picture while reducing our debts significantly.
So here's the things we've accomplished in 2008.
-Saved $12K in EF
-Reduced our overall debt by at least 35%
-Reduced Unnecessary spending
-Term Insurance
-Used mainly "cash" over credit
-ZERO credit card balance
This time last year we owed about $46K in total debt combined (car loan and home equity loan). Our balance as of today in mid $28K. That's $18K debt reduction from last year. More importantly, we were able to budget expenses like christmas gifts and birthdays without resorting to credit cards.
2008 is only the beginning not the end.
Marking - 1st Year Anniversary
December 1st, 2008 at 10:31 pm
December 1st, 2008 at 10:38 pm 1228171117
December 1st, 2008 at 10:47 pm 1228171669
December 2nd, 2008 at 12:46 am 1228178786
December 2nd, 2008 at 01:41 am 1228182115
December 2nd, 2008 at 03:04 am 1228187054
December 2nd, 2008 at 03:21 am 1228188071
December 2nd, 2008 at 03:01 pm 1228230071
I was a complete wreck when I first arrived. I know I run my mouth like a know-it-all, but I know I don't know a darn thing. Especially back then. I didn't even know what I was looking for or where to begin looking.
Fortunately, the SA community was so supportive and knowledgeable that I think they've ultimately sped up my recovery and got me on the right track.
So, thank you everyone. Thanks for making a difference.
December 2nd, 2008 at 07:52 pm 1228247570
December 2nd, 2008 at 08:23 pm 1228249419
December 2nd, 2008 at 09:16 pm 1228252595
Thanks for all your wonderful comments
I remember sfcr and merch were the first few members that really gave me good advice when we were first developing our family budget. I must also say, almost EVERYONE here contributed somehow someway either through direct questioning or advicing or simply reading your comments from previous threads, we took your experiences and applied it to us. We all learned from each other. So for that...Thank You ALL!
Because of this site, many of my own personal financial fears were quashed as well. DW and I discussed things a lot more especially when things make or don't make financial sense. At the same time we argued less and less on "petty things" which was really a suprised between us looking back. Now we just look back and laugh about it.