I’m James, and my girlfriend/fiancée is Elicia. We both carry debts into our relationship from past marriages and mistakes, as well as unwise financial choices. Elicia is a free spirit, and the idea of budgeting her money felt like she was being strangled. I’m more of a planner, and the idea of freely spending money with no budget or plan felt like I was being horribly irresponsible. How could we ever get along financially.
A few years back, I read Dave Ramsey’s book, The Total Money Makeover, after hearing him on the radio. Before reading the book, I felt like I was going to be in debt my entire life, never get out from under my mortgage, and probably have to work until I died just to make ends meet. After reading the book, my outlook completely changed and I believed that with dedication and hard work, I could get all of my debts paid off and retire with plenty of money to live and thrive on, and also have an inheritance to leave my children when I die.
Elicia was largely living in denial of her debts and her financial condition. Her debts (largely student loans) were out of sight and out of mind, but they were starting to call her for them and it ate away at her vision of her future. She recently read the book, and her vision opened up, just like it had for me, and we began to set up our budget and plan the debt snowball.
We are just a few weeks in to the process, but Dave always says that a person needs to write their goals down in order to achieve them. If you don’t write a goal down, you’re not going to have a target to hit and nothing to aim for. This little blog is my personal way to write my goals down and to give us a target to aim at.
I intend to list our debts and detail our progress. I’ll also show our budget in a generic way, to give you some idea of how it’s working for us. My goal is to use this blog to be accountable to the process, and hopefully to provide information to others who feel helpless and buried under a mountain of debt.