Random personal updates

  • September was mine and Dana’s first month living on a written budget. We’re following Dave Ramsey’s financial plan to eliminate debt and save for a house. The budget thing was easier than I expected, although my blow money was gone within the first four days!
  • Dana and I are registered for the National Youth Workers Convention in St. Louis. Anyone else going?
  • We’re looking for new health insurance coverage for Dana. Not fun.
  • Since moving to Minnesota, we’re enjoying the benefits of living close to my brothers and their families. We get together about twice a month now.
  • Fall in Minnesota is such a beautiful time to go on bike rides.
  • I’m only 3 referrals away from getting my FREE Xbox 360 Elite!
  • I’m working on my own Facebook application. After a little more testing, it’ll be finished and I’ll release it to you guys.
  • Doh! I’m teaching at our monthly city-wide youth meeting this Sunday and I haven’t started preparing yet. Okay, enough updates, gotta work…

Posted on October 4, 2007

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  • See you in St. Louis. :) I'm actually going to be volunteering in the YS store, so I'll only get to see you if you come around the store – which I would wager you will at least once

  • Ben

    Hey man, props on the budget thing. Andi & I have been living on budgets for almost a month now — if you want to see our spreadsheet, lemme know.

    We both had considerable amounts of debt (both "good" (school loans) and "bad" (credit card)) and we've been snowballing for about a year. Its such a good feeling to see your balances keep going down and down, and minimum payments going up and up.

    We'll be COMPLETELY debt free in 5 years, thats student loans…. cars… dumb credit cards… everything. And then we shall buy a stinkin nice house since we'll have a stinkin lot of money!!!!

  • Ben

    Ha ha, almost a YEAR is what I meant to say. Living on budgets for almost a month? lol. Oops. Silly typo.

  • Tim

    @ Mike: Yeah, I'll have to look for ya. Maybe I'll hide in the store and see how long it takes for you to find me. ;)

    @ Ben: Glad you guys are heading the same direction we are! We should be debt free in about year or a little less. Then we'll start saving toward retirement and for a house. If the math works out, we should be able to pay cash for a small home in about 7-8 years. How sweet would that be?

  • Ben

    We made our own route, quasi-Ramsey I guess you could say.

    One of my professors gave us the idea – instead of just saving the initial $1,000 and then solely focusing on the snowball like DR says to do, my prof said to save every month AND snowball every month.

    So while it will take us 5 years to do, it will be nice to see savings go up as total debt continues to go down. Whether or not DR would agree with this method, it has been working great for us, and should continue to as well.

    If only everyone realized the significance of living debt-free. And if only we could go back and change the foolishness of how we handled money!

    Saving for retirement… man, only ministry professions have to do that :)

  • Tim

    @ Ben: Personally I'd rather just eliminate all the debt and move on with my life than keep paying interest for a couple extra years. When the debt is gone and there are no longer any payments for anything, we can save like crazy and invest that money instead. Either way, living debt free will be tremendous freedom as we'll both discover. :)

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