I thought I'd outline the plan that we've chosen to implement. Many others before us have used it successfully. Of course, like many things in life, it only works if you do it. If you're not familiar with Dave Ramsey, he's a financial talk radio host, author, TV host, businessman and motivator.
There's two reasons we chose his plan. First, it's faith-based. Ultimately, your goal is to be able to use your money to give freely (to charities, church, etc.) because you've taken care of everything else and now you have that money freed up to give. Secondly, he's not touting anything that he hasn't done himself. In a nutshell, he was a millionaire at a young age, went bankrupt, then, starting from nothing, became a millionaire again. Obviously, I'm not interested in becoming a mega-millionaire, but as I've heard before, "don't take advice about money from broke people".
These are the 7 baby steps, you can view them here.
This may sound crazy to a lot of you, but the first step is going to be difficult for us! Our goal for that $1000 is by 12/31. We're giving ourselves two months to do that. It's all about momentum and getting things rolling quickly so you have those successes to build on and keep you motivated. Yep, November and December are probably the two most challenging months to start this, but we felt now was the time.
Soon, I'll be posting our amounts that we're going to be attacking-talk about humbling!