KadyDidIt

  sink·ing fund ˈsiNGkiNG ˌfənd/ noun plural noun: sinking funds a fund formed by periodically setting aside money for the gradual repayment of a debt or replacement of a wasting asset.   I have not been doing the Dave Ramsey plan long enough to really give my testimonial on the idea of a sinking fund, but what I can share is what categories I have decided to save for! From what I do know I believe my categories are a little different for my family because we are not homeowners, when you own a home you could have other expenses arise that I, as a renter, would not be responsible for.   Currently I have 6 sinking funds: MEDICAL ANNIVERSARY BIRTHDAY CHRISTMAS RANDOM GIFTS EYEBROWS   Ok, weird? Maybe. Let me explain.   MEDICAL Lucky for me, my health insurance is pretty good so I personally have never had an experience where I owed a lot of medical bills after a doctor visit (With that being said, my ...

In April of this year I started reading The Total Money Makeover, and I thought to myself, "Hell yeah! Let's do this." I would say I pretty quickly became "gazelle intense" and started planning my debt payoff as well as using cash envelopes to be able to stay accountable. I decided to do an update for my first "real" month of debt payoff as my first priority. So far I have been able to put $1467.85 towards debt! This has taken me about 6 weeks. The first two weeks I was focused on all of my minimum payments and then starts the snowball! My total debt does include my car note, which is a pretty significant amount of this total amount paid off, but hey we're getting there! My plan is to be able to put an extra $500 a month on top of all of my minimum payments. Well there we go, quick and easy! I will keep you updated (really, keeping myself accountable) on my progress!

I have fallen into a worm hole reading and watching information on cash envelopes. Really, it's a freakin genius idea and I don't know why I haven't been doing this my whole life.  As you all know, I use a personal size Kate Spade Wellesley planner as my wallet. I purchased the above cash envelopes from Little Red Papers on Etsy. These come punched for different size planners as well as unpunched for every day use without a planner.  I figured out my income and broke down my budget for the biweekly period. This will be for the period of April 28th through May 11th. The envelopes come in a set of 6.  My categories are:  Groceries - $200 Household - $30 Gas - $70 Fun/Dates - $100 Eating Out - $50 Misc - $25 This is my first time using the cash envelope system and already after two days I've had a surprising change of heart for my budget ready self. It's true that when you actually have to use the cash yo...

  How does debt happen? I think it's just something that is such a normalcy it makes me think, does anyone really think twice about opening a credit card and then unfortunately for some of us become overwhelmed with the amount we've accumulated? I know this is not everyone, but I know from my personal experience it does happen to more people then we might think. For me personally I did open a credit card as soon as I turned 18 and thankfully I did accumulate some debt over the last 10 years, but I have been fortunate enough to not be TOO out of control. I do have some debt that will take me some time to pay off, but nothing that is not possible. I've decided to share what I'm doing personally to help myself out which includes the following Dave Ramsey's Debt Snowball method. So stick around if you're interested!