It's Here!

So finally after discussion after discussion Chris and I FINALLY came up with our game plan to beat our debt! I know I said I was going to post like what...2 weeks ago? Well I had to read more of Total Money Makeover before I could get the "steps" together. So here it is:

Baby Step 1
Save for our $1,000 Emergency Fund

Baby Step 2 (a)
DEBT SNOWBALL! $18,000

Baby Step 2 (b)
Save for a down payment on a house $20,000? (not sure on exact amount yet)

Baby Step 3
Save for our 3-6 month emergency fund. $10,000

There are more steps after this like saving for retirement and college funds, but for now this is a what we are going with. WHEN we accomplish this the rest WILL come so incredibly easy! Our goal for Baby Step 1 is by January 1, 2010. The reason being is because we are going to "practice" sticking to a budget for the next couple months even through the holidays. We are going to start 2010 paying debt. I have a goal for the $18,000 to be paid off in 36 months. I would love love love it to be paid off in 24 months but that would be like $750 a month...I don't know about that in reality, but God is definitely on our side for this so it is possible. Then baby step 2(b) should be about the same amount of time. Baby step 3 will take half the time or way less since I will be able to work full time by then...LOL So all in all I am guessing that when Chris is 35 and I am 33 we should be ALL DONE with this. That's 7 years! Seems like a long time, and it is but we will only be in our mid 30's. We could be in our 50's and just learning this. Some family members of mine as well as parents of friends are in their 40's - 60's and not doing so well. Foreclosures, living in apartments, no retirement is not where I want to be then. I want to live like no one else now, so I can live like no one else later! Thank you Dave Ramsey!