Last Fall, we went through a Financial Peace University Class. We are continuing the journey by working through Dave Ramsey’s list of Baby Steps. I cannot believe we are three months into the new year already. We have another Senior graduating in May and I guess that’s what’s making this seem to fly by. Here’s March:

Baby Step #1 

Our “baby” emergency fund is currently: $1,009.60

Baby Step #2

Starting Debt Amount: $53,285.44
(original projected payoff – December 2019)

As Of:
September 2016: $52,035.26 (-$1,250.18)
October 2016:  $50,243.99 (-$1,791.27)
November 2016:  $47,627.15 (-$2,616.84)
December 2016:  $45,352.38 (-$2,274.77)
January 2017:  $43,814.66 (-$1,536.52)
February 2017:  $36,084.65 (-$7,730.01)
March 2017: $34,056.58 (-$2,028.07)
(current projected payoff – Feb 2019)

Notes: The projected payoff moved up another month!

EveryDollar 2017 Challenge Update

  • Build our initial 2017 budget spreadsheets. – goal met Dec 2016!
  • Continue having at least 1 budget committee meeting per month. – 4/12
  • Continue giving every dollar a name each payday (zero-budgeting). – done in Mar
  • Pay down our Debt balance by at least $18,892.86. – $11,294.60 so far
  • Pay off at least one of our five remaining debt balances.goal met Feb 2017 and again in March 2017 – down to 3 now!
  • Increase our giving category by at least 1%. – increased by 2%

Speed Bumps Encountered

  • Diet Changes – Well, I started having chest pain and some other icky symptoms so we decided we needed to clean up our diet a bit more. We’re still adjusting, haven’t gotten all the kinks worked out yet, and we went over the grocery budget significantly. (-$376.97)

I’m rather disappointed about going over the grocery budget so badly. We’re trying to cut so much and that was a big blow. I am feeling better physically, so I guess something good came from it, but I need to figure out how to do this healthier eating thing cheaper.

Oh, and we finally paid off the orthodontist! So, we are down to 3 remaining balances (from 10 originally).

Well, that was March… on to the next billing cycle.