![]() ![]() This cash was divvied up between a slew of envelopes, all labeled in black marker for each expense: “Gas,” “Groceries,” “Matt’s spending money,” etc. We started with the budget template in the back of Dave Ramsey’s “The Total Money Makeover.” We also incorporated the “envelope system.” This meant everything we bought, we paid for in cash. We saw where every penny went, where money was wasted, and where we could make cuts to help us reach our goals. Once we set up a budget, everything began falling into place. Here are the three primary steps we followed to take control of our finances and achieve our dream: From that point on, we had to tell every dollar where to go, instead of allowing money to control us. And while the budget made sense mathematically, we understood that paying off our debt was more about our motivation than the numbers. The budget we created to hit our targets was doable - but tight. “Set a budget.” In almost everything we read, this was the first step. Neither of us had the slightest clue how much we were spending each month or if the money we were bringing in was enough to cover it. ![]() But how we spent money was what really needed to change. We’d stash some funds away here and there, haphazardly at best. ![]() Nor had we ever saved with an actual goal in mind. Neither of us had paid off debt before, let alone $31,000 of it. Otherwise, our goals to both save for our wedding and get out of debt would likely never materialize. We were getting ready to embark on two of the biggest financial adventures of our lives, and we needed to settle on a solid plan. I continued to consume everything personal finance, but I also knew just reading about the subject wasn’t enough - it was time to put my newfound knowledge into action. Every “debt-free scream” we heard became even more fuel for us. For the next few months, we couldn’t get enough of his radio show. My wife sent me a text one day: “Check out Dave Ramsey.” And so I did. Clason’s “The Richest Man in Babylon.” I scoured the internet, reading articles, blogs, and stories of people who took on similar feats. I went and bought book after book on the topic - from Robert Kiyosaki and Sharon Lechter’s “Rich Dad, Poor Dad” to George S. We delved into everything personal finance you can say I even became a little obsessed. How we paid off our debt while saving for our wedding 16 months later - the day we celebrated.How we paid off our debt while saving for our wedding.The moment we looked at each other and decided to get rid of it, everything changed. With our wedding 16 months out, eliminating that $31,000 in debt became a goal. Our debt wasn’t an abstract thought anymore - one we’d give the time of day to just once a month when the bill was due. Now that we had an actual number to look at - as much as it pained us to do so - the debt became real. I had $17,500 in student loans and a balance of $3,500 across all my credit cards. She brought about $10,000 in credit card debt into the fold. We had talked honestly about our finances before, but this was the first time we sat down to look at exact amounts. Upon getting engaged, my wife and I decided to lay our cards on the table. What can I say? I loved to spend my money - on stuff I didn’t always need. That’s not a drop in the bucket but could have been much worse. My debt never got wildly out of control, but I chalk it up to sheer dumb luck that by the time I realized my finances were a problem, I only had about $21,000 in debt. Saving is good.” That was the extent of what I knew about money management. I wasn’t trying to sabotage my finances - I honestly didn’t know better. Spending money I didn’t have on stuff I didn’t need. I got into debt from years of financial ineptitude. ![]()
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