updated debt totals!

We have been at this thing called "Getting out of debt" for 14 1/2 months. We started out at a whopping $59,063.20 and, as of last week our current balance 10/15/09: $27,643.19.

It is hard to believe we have paid of $31,420.01 in what seems like a pretty short period of time looking back..but - boy- hasn't always been easy! And, quite frankly- it seems like a long way to go! But, month by month, a thousand at a time, we continue to see progress. We continue to be inspired to press on..and we continue to watch our money.

I think the hard part, right now, is that we feel like we have been doing this forever and we have a long way to go...and then when we get the debt paid off, that extra money goes to fund retirement accounts, college, and then start paying on the house..so you never really get this "windfall" of cash that you get to start throwing your money around...and I guess that is the lesson in all this. Being fiscally responsible, or as I like to call it "Being a Fiscal Grown-Up" is a committment you make for the rest of your life...not just to get out of debt...for the rest of our lives we will be budgeting, saving, making trade-off's. But, oh how sweet when we hit retirement age, have a couple million in the bank and can really LIVE LIKE NO ONE ELSE! Now- I'm motivated!

Go get 'em!!

I love pay day!

You know, most people love payday's because it is that tangible moment for all the hard work and long hours put in over the last 2 weeks (or whatever your pay period may be.

I am clearly the "nerd" in our family because I love payday because it is the day that we get to go to the bank, take out cash to re-fill our envelope system and pay down debt! Every two weeks, our debt takes a little dip downward...and that gets me excited - what a geek!

I would love to hear from some of those who are debt free (or are well on your way) as to what happens with that excitement, energy once you have paid it all off! What will pay day mean to me when that happens? My first thought...WEALTH!

Go get 'em!

The importance of a will

You know, as we looked at our mounting debt, I never really gave any thought to having a will. I mean...nothing divided amongst many still amounts to nothing. But now, as we see the end of the tunnel ahead of us..and are on our way to building real wealth with our income, trusts* estate planning* and wills are in the forefront of my mind. Not to mention, we have small children who will need to be taken care of in the event we go together.

So, this is friendly reminder! Plan for the unthinkable. If you have a will..has it been updated? Do you have all your assets in your trust? Are you plans the same as they were then..or have things changed.

We were thinking about using www.legalzoom.com and would love to hear any other suggestions folks might have!