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Upped Baby Step 1, and I'm excited

November 10th, 2017 at 01:18 pm

Though I'd love to sock the $500+ bucks to CC2, I'm going to take the advice of Dave Ramsey and everyone here and knock out baby step 1 and fund my emergency fund. Next, I'll be tackling the debt.

In a previous post some of you commented on the wedding fund. I hadn't noticed that the fund was still in my side bar, lol. Honestly, I forgot about this account and haven't added anything to this account since I opened it. I actually had $80.88 in this account and transferred that money to baby step 1. Not sure what happened with the $20. Until the fiancé is onboard with his/our finances there won't be a wedding. New balance for baby step 1 is now at $624.21 😀

I'll still be able to add close to $200 to CC2, so I'm okay with that.

I've decided to remove the salon 💇🏽, $45 , as a line item on my next budget. This is going to be hard because this means that I won't go to the salon except once for the month. My hair is horrible to manage but I'm going to try.

For those of you who follow me, my last post for charitable items were funds that was given to church (God), my tithes. I'm definitely going to continue with that. One, I know it's the right thing to do, two, Dave Ramsey has said it's the right thing to do, lol and three my SA family has also said it's the right thing to do. But seriously, I've always given to church but not my 10%. Our church has a 3:10 challenge. Meaning for three months you donate your 10% to church, any church, or charity for 3 months and if God does not work miracles and bless you, they'll give us our money back. What I like about this challenge, is that they simply encourage us to give and it doesn't have to be to my own church. 3:10 is from Malachi 3:10, in that God says to "test Him" with our tithes, the only scripture in the Bible in that God says to test him. I can say, since I've done this, I've seen a difference in how I feel about my job, I'm no longer worried, tossing and turning at night. And by mid week next week my EF will be funded until I can hit baby 3, to fully fund it. It's strange because now every extra dollar I get, I take 10% off. The fiancé gave me $45 and I took $4.50 off top.

It's a progress but I enjoy telling my money what to do and it not telling me what to do.

12 Responses to “Upped Baby Step 1, and I'm excited ”

  1. crazyliblady Says:

    I know about the baby steps. You can't do step 3 until you do step 2, paying off your debt. Are you nearly finished with your debt?

    https://youtu.be/Sr43f28mU0U

  2. Bluebird Says:

    Great job with your diligence in working toward Baby Step 1! You're almost there!

  3. Amber Says:

    Hi Crazylady, I wish I was nearly done with my debt I'm just getting started tackling it, thanks for the video 😃

    Thanks Bluebird, I'm excited about it.

  4. Carol Says:

    You are really doing a serious job at tackling this. Great going!

  5. Out of the Dark Says:

    I, for one, am so proud of you! Your blogging inspires me to focus on my own hurdles and following your journey gives me strength. Thanks Amber!

  6. TurtleLover Says:

    I do not comment much but I do enjoy reading of your progress. Happy to hear you are no longer worrying. I am with you on that.... it's a great feeling ... :-)

  7. Amber Says:

    Thanks everyone for your support, it's greatly appreciated.

  8. Out of the Dark Says:

    Amber, have you considered ending your 52 week challenge and immediately apply it towards your emergency fund and/or baby step 1?

  9. Amber Says:

    Out of the Dark, I haven't added to this account in months. I have an expense of about $425 coming up the end of December so I'm saving the money for that

  10. Out of the Dark Says:

    Great idea. Just wondering, where are you "housing" your monies. Specifically, this type of expense whereby you can foresee it, plan for it, save for it and then pay it off? A Money Market Account is great for that. I have one with Capital One - 360 MM Account. I think it pays 1.3% (not sure about minimum balances) and is very easy to transfer into and out of.

    Also, one other idea. If you can consolidate your other cards to a zero interest card that also earns points, that might be something to consider as well.

  11. crazyliblady Says:

    I personally thinking transferring balances to a 0% card could be a bad idea. The fees involved are usually outrageous.

  12. Amber Says:

    Out of dark, I'm keeping the funds in a basic savings account. I like the idea of the MM and will open one for the EF, car insurance and chapter dues.

    As with crazy lady, I don't think I'll transfer these balances. My debt to income ratio is too high and for me to open a another CC with a $5-8k limit isn't worth it.

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