I have started to learn more about Dave Ramsey's methods to being debt free and gaining wealth. At first, I wanted to just get our commercial debt down to zero and then work on everything else as it went (this included jumping into a home purchase). Well after doing some thinking (and watching lots of debt free screams on the Dave Ramsey Youtube page), I have decided that D and I will be working to become completely debt free.
The first step in Dave Ramsey's process to be debt free is to get a $1,000 emergency fund.
Second step is to pay off all debt with a "gazelle" intensity (I feel this more than D).
Third step (part A), save a 3-6 month emergency fund.
Third step (part B), save a 10-20% down payment for a house.
As of right now we have:
1 car lease (36 monthly payments to be completely paid off by February 2019)
1 car loan (36 monthly payments to be completely paid off by February 2018)
2 credit cards
9 student loans (each with 120-124 month payments which started February 2016)
My goal for us, with some sweet talking to the husband to get him more on board, is:
2 credit cards paid off by October 2016
Car loan paid off by March 2017
Car lease paid off by June 2017
All student loans paid off by December 2019
After this goal is completed (which is step 2), I want us to continue his steps!
