It's going to be a good Christmas...

**Preston** · 08-12-2009, 04:19 AM

I got up today and ate breakfast with the intention of going to the half-price bookstore to get a friend of mine Dave Ramsey's TMMO. I had gotten the book out the library before but I figured I'd get her a copy since she is in over her head due to a bad divorce, and irresponsible jerk of an ex, and just getting into a bad situation -- and she's only 23 years old.

I also figured I'd get some other books on frugality and maybe my own copy of TMMO (I am planning on getting it for at least five people right now but I'm not about to pay for a new copy). I also got "Financial Peace Revisited" "The millionaire next door" and some other books on top of two copies of TMMO. Don't worry, I stayed in my budget.

I also sat and read some of Suze Orman's books but honestly I don't like her at all. It was all about maintaining FICO score. I want out of debt -- I don't want to manage any more credit.

I got home and was reading some of the success stories and Financial Peace and I went on the computer to pay a credit card payment. Then looking at quicken I realized I am only a few months away from being completely credit card free.

I realized.. I WANT THAT... I mean I REALLY WANT that feeling of being free of all the CC games. Balance transfer hell, changing due dates, adjustable interest. I want to be free. I want that feeling of being in control of MY money. I want to do with it what I please.

No purchases subject to financing. Never having to worry about interest rates or loan fees. I want that.

I want that more than anything I have ever wanted. More than the best road bike. More than a fancy TV or the latest video game. I want it so bad.

I have waited YEARS for this feeling and I am within months and I want that feeling of freedom I haven't felt for so long.

I realized that I never set goals for myself.. I just knew I wanted out of debt -- so I sat down and wrote out my goals for this year and next... and here they are..

Financial Goals:

2009

Be free of ALL credit card debt by Christmas

Have $1000 EF in place

Michelle dental surgery paid off

Be able to be car free (Preston) and down to one car if the situation calls for it

Do Christmas on a budget -- Come up with really useful things at low cost.. Not just junk

Sell unneeded/unwanted things on eBay or Craig list.

2010

Pay off entire student loan by the end of February or early March

Set up retirement plans -- 401k first then ROTH IRA

Build EF to three months living expenses in savings acct. Another three months in a higher yield yet highly liquid investment.

Invest money into a diversified portfolio -- start with safer investments such as mutual funds.

Open second savings account to save up for new(er) vehicle purchase. If the Aurora dies, pay for new car with cash.

PAY OFF ALL NON-MORTGAGE DEBT BEFORE BIRTHDAY!!!! (July 8)

Start donating to charities -- tax deductible -- NPR, National Parks

Pay double on mortgage.

If it is still running in June, consider selling Cavalier before tags come up for renewal.

I can see the light at the end of the tunnel, but this time it isn't a train.

**AmyBoz** · 08-12-2009, 08:24 AM

Good for you!!! Nothing like a good book to motivate!

**Ceashels** · 08-12-2009, 08:33 AM

WOW! You have a success story right there. Congratulations on coming so far and setting goals for your family. That's awesome!

**SixxOfDiamonds** · 08-12-2009, 08:48 AM

I have to tell you something. As background info - we follow Dave Ramsey.

Anyways, for about six months now, all of my credit cards are closed. I don't have ANY! The only debt I have in my name is our mortgage. (Mr. Husband has our Subaru in his name.)

I thought for sure that my credit score would be around 600. It was around 780 before, I had excellent credit.

So about a week ago I decide to check my credit score, just for sh*ts and giggles. What is it? 748. I don't even HAVE a credit card and I have a good credit score. Sure, it dropped but the only reason it dropped so much was because I went from having an open line of credit for six years to an open line of credit for 10 months (the house.)

So in my opinion, you don't even need to worry about maintaining your credit score. Just get down debt, as much as others would like you to believe, it doesn't damage your credit that badly.

Granted, once we pay off our mortgage, well, we won't have a good score then!

**tervsforme** · 08-12-2009, 09:25 AM

Wow, that's fantastic! Great job!

**rsbs** · 08-12-2009, 10:05 AM

It IS exciting, isn't it! So close you can almost touch it?
I'm on a similar mission... just paid off my big CC & car will be paid end of the week! I'm so excited I'm almost giddy!

It's the biggest gift you can give yourself & family - to be at peace & out of debt. So many people don't get that.
You've inspired me. I'm going to make a list like yours, of goals for the rest of the year, next, & on. Should've done it sooner!
thanks!

**belle_figlie** · 08-12-2009, 10:32 AM

Good luck, you CAN do it! Setting goals is the best thing to do, especially if "other people" can see them and watch you work at them, always good for motivation.

**Debbie-cat** · 08-12-2009, 10:38 AM

Isn't it wonderful when you can almost taste being debt free? Enjoy and good luck with all your future goals.

**Mom23boys** · 08-12-2009, 12:12 PM

Good for you! I love to see how others are getting motivated. It inspires me to step it up a notch. I am dreading the student loans I will have to start paying back when I finally graduate.