Saturday, April 5, 2008

Come on Baby Step 3

Next week our debt will drop to under $6K. I really wish it was done now- I'm getting impatient. Part of the reason is my desire to get crackin' on Baby Step 3. After we finish Baby Step 2 we are gonna pause to celebrate, then get some money between us and life! Baby Step 3 is to save 3-6 months of expenses in an emergency fund. Three months of expenses for us is $6K, but we're gonna take the safe route and go with the 6 months of expenses in the bank. Right now, when I step back and take a look at our finances, while I see that we're doing great with debt reduction and money management in general, I'm also aware that should Hegazelle and I suddenly find ourselves without work for a period of time we would be in bad shape. With that in the back of my mind, it keeps me thankful for everyday we are allowed to get up and go to our jobs. Very thankful.
Speaking of things to be thankful for, Hegazelle's boss told them last week that they will start their new pay scale on April 28. Hegazelle's anticipation is thru the roof! He is rarin' to go- the opportunity to make more money by being payed for billed hours is certainly exciting. This car may be paid off sooner than we think!

3 comments:

Fabulously Broke said...

Hey! :) My $30k debt is almost under $6k this month too :) :) :)

Then I only have a $15k loan left and I'm golden....

(not) the Jet Set said...

Stay focused, She! You'll get there. We were amazed by how fast the end of our snowball went. We payed off one car and it wasn't long before the second car was ours.

You're almost there!

Ugly Debty said...

$6K ... I'm GREEN with envy!