In Week 4 of FPU we learned about the myths of debt. He went over the myths of car loans, credit cards, and other types of debt. It was really interesting and I’ve fallen into the marketing trap of car loans and credit cards. They have such good marketing plans. They totally get you, but that’s what they have to do. That’s their business model. And they’ve marketed their product so well that we beg for it, they don’t even have to sell it to us. That’s pretty crazy.
Anyway, this week we are to put together our debt snowballs (baby step 2). Mine will be 4 debts, 2 credit cards, a car loan and my student loans. So I don’t have a horrible debt snowball, but it’s going to take some time. According to the debt snowball software available through FPU I will be debt free by May 2020. I think it will be sooner than that but we will see.
My May budget starts today (payday!). That’s kind of exciting. So we will see how May goes. I have my mint.com account updated which is nice. So hopefully it will help me track my expenses and get a better handle on my spending. I’m planning to track where all my allowance goes as well. So that’s really good I think. I have budgeted in Mother’s Day gifts and mom’s birthday. So that’s something I’ve never done before. I really like that. I know that my spending is out of control and it’s time to do something about it.
My goal for this weekend is to get rid of a bunch of crap out of my house. The stuff that is cluttering my life, whether I sell it, donate it or throw it away, it doesn’t matter. I just need it out of my house and out of my life. So that’s the plan for this weekend, as long as the softball tournament remains cancelled for us.
What are you doing to help with your weaknesses? Are you decluttering your house and life as well? What are your tips and tricks for making the want for stuff less?
Are you interested in taking Dave Ramsey’s Financial Peace University? Visit http://www.daveramsey.com/fpu and find a class near you today!