When we were doing Dave Ramsey’s baby steps, paying off debt was an obsession for me. His baby steps work because they make you focus on one step at a time. Dave Ramsey’s genius is his ability to boil sound financial principles into 7 easy steps that logically flow one to the next. Every person I know who works his program has them memorized. You can’t help but memorize them.
Another thing I love about his program is that he publishes the steps on his website making them available to all. A quick search on the internet will take you to forums like debtfreefanatics where you can get help and support to finish them up. You don’t have to pay a dime for this info. It’s solid and it works.
It can also drive you nuts. I would get our paycheck, figure out the biggest amount we could afford and transfer it to the debt that was in our crosshairs. My thoughts were constant mantras of killing and annilating our debt. Then in every free moment, I stared at spreadsheets trying to think of a way to make it happen faster.
I think the Money Game could help the process along. You want to make sure that you focus on your current baby step. If it’s baby step 2 (paying off all debt), that’s got to be your top priority. If you come in under budget, I think the extra money should go towards the current bill you are trying to pay off. If you sell anything you already own, I think it should go to that bill too. Overtime, etc.
Knowing what I know now, I’d still take some of my personal spending money (it’s important to budget some even on baby step 2) and try to grow it. A simple grocery coupon could net your first twenty five cents. This is because it’s fun (figuring out how to make your five bucks cough up a quarter is more entertaining than staring at spreadsheets) and it will get you thinking “how do I get this sum of money to make money?” That’s the key question and when the answer hits, you’ll be golden.
Level Completed: 141 out of 251
Amount Deposited this month: $342.69
Total Balance: $4,983.55
Our Money Game fund has increased 7.4% so far this month.
$119.74 is needed to reach the next level.