I am planning on doing these posts once a month with different finance focus each post.
To start I am going to talk about my finances.
This is the 1st time I have decided to be completely focused on my money and debts.
I have a decent paying job as a supervisor and live at home with my parents. I pay them rent and bills, also buy most of my own food. However I still have debts and have decided that they need to go.
I opened my credit card when I was 18 to help me build my credit rating. To start with I was pretty good about paying off each month what I had spent. However my family had some financial difficulties and had to use my card for a while to survive. From then on I paid off the minimum amount each month sometimes a bit more. I then opened a 2nd card for the interest free period which meant I was able to pay off some of the balance.
Fast forward to today and I am still paying off the card. I’ve never been late paying or missed any payments so haven’t really worried about it.
I met my partner 18 months ago and we have now decided to start saving for a house. This has really made me realise how much money I am wasting on interest alone so the debt is going to go for good.
Last year I came across Dave Ramsey – I know some people don’t like his methods but I have found as long as you do what is right for you it works. I am not following the rules 100% but I am following some of the steps.
I have managed to save my emergency fund and have paid off the small credit card which has now been cancelled.
I have worked out I will be debt free at the end of 2024.
My goal is to be debt free by the end of 2022.
I have a finance planner to help keep me on track and I now budget each month so that I know where all my money is going, I use cash envelopes to help me stay on track and log every purchase I make.
I have set up some sinking funds to cover for the bills I know about like car insurance etc.
For my planner I have a mix of inserts that I have made, some have been freebies and some have been paid for.
I have listed below a few of the people on social media who have helped me on my journey – some of them with printable’s for my planner and some just with their posts.
I am in no way associated with or get paid by any of them.
People I follow on instagram:
Thebudgetmom, athomewithquita
jen_plans, for the love of budgets
sessavee, squizzleberry
peanutsplannerco, ellemonpaperco
rledzn, lightsplanneraction
papertessdesigns, janesagenda
fancyplansco, lifesorganizedchaos
debtfreecharts, crossbowprintables
smplans, nakedgrids
I also follow some blogs – themoneyfox blog and charlottemusha blog are 2 of them.
I also watch finance planning videos.
Do any of you use a finance planner?
Are you paying off debt?
What are your thoughts on Dave Ramsey and his methods?
Tinanorganisedhome 