Next Month We WILL BE.....
Our debt free journey has been as hard as it has been exciting!! This is a time line of how our Total Money Makeover looked over the course of about 20 months. Time line is approximate.
December 2007
- Decided to start The Total Money Makeover as our New Years Resolution
- Joined MyTotalMoneyMakeover.com
January 1st 2008
- First day of our journey towards financial peace
- Starting debt: $26,076.75
- Started our first budget ever!
- STOPPED WASTING MONEY ON STUFF!
- NO MORE BORROWING EVER AGAIN!
February 2008
- Put our 2004 Pontiac Vibe on craigslist
- Bought Honda CRX for $500
- Sold Vibe by end of month
- Car payment free
March 2008
- Completed baby emergency fund: $2,000
- Settled old medical debt ($2400 for $1200)
- Medical debt free
- Joined Financial Peace University Online
- Became the ENEMY OF DEBT immediately!
- Watched 13 weeks of lessons in just two weeks (I was fired up!)
- My passion EXPLODED!!!!!!!
April 2008
- Started enemyofdebt.com (Wrote my first post on April 5th)
- Paid off remaining credit card debt
- Credit card debt free
- Decided to coordinate and lead FPU at my church
May-July 2008
- Wife graduates and becomes a nurse
- Murphy punched us square in the face with a round one knockout!!
- Used $1,000 of baby emergency fund (dazed but still determined)
- Replenished emergency fund to $2,000 (recovered)
August 2008
- Started first Financial Peace University workshop (13 weeks)
September 2008
- Murphy hits again! (Round 2)
- Used $1,000 of baby emergency fund…again!
- Decided not to replenish emergency fund to $2,000 (bad decision)
- New baby emergency fund balance: $1,000
October – December 2008
- Finished first FPU workshop (13 weeks)
- Experienced first real low point of Total Money Makeover (feeling beat up by Murphy)
- Picked ourselves back up, stopped feeling sorry for ourselves, and fought back!!!
- Only $7,000 of debt left to go!
- FIRST DEBT FREE CHRISTMAS EVER!! (didn’t go into debt to buy Christmas)
- YEAR ONE COMPLETE!
2009 – Currently
- Started going to school DEBT FREE. (NO student loans EVER!)
- Started second FPU workshop at church
- Got “IH8 DEBT” for license plate
- Enemy of Debt mentioned on CNN.com. (AWESOME!)
- Economy strangles my income (still able to chip away at our debt slowly but boy did it drag)
- Decided to rebuild our baby emergency fund to $2,000 ($1,700 done!)
- Replaced 1985 Honda CRX with 1999 Saturn
- Paid $500 cash for Saturn
Currently – September 2009
- Will sell CRX for $300 (hopefully)
- Waiting for “H8 DEBT2″ license plates for my wife’s Volvo 940
- Planning 3rd Financial Peace University Class!
- Speaking at Sweet Briar College about budgeting, saving, student loans and buying a home. (BRING IT!)
- Will have replenished emergency fund to $2,000
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ONLY $239 until we are DEBT FREE! (This will be done in September 2009 once and for all!!)
TAKE A HIKE MURPHY! You will affect us less and less from here on out because we will be ready for you!
Mmm…mmm…mmm…mmm…mmm! Debt freedom at last! Don’t be jealous, JOIN ME! 
Now on to building our Fully Funded Emergency Fund. We are going save 6 months of expenses which equals: $15,000. With $2,000 already down, there is $13,000 left!! We will save with intensity baby!
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Brad,
Just wanted to let you know I think your progress has been awesome. I look forward to reading the ‘I’m Finally Debt-Free’ post!
MH4C – Thanks a lot man! I will be sure to make the debt free post a good one.
Dad – Congratulations that is great! Credit card free is a nice feeling. Those dang student loans are a pain in the butt, but you are going to knock it out! Good luck!
Vicki – Thank you so much! Thanks for pointing out that error. I honestly proof read this post a billion times and I think it is funny that that little detail made it past me when it is so obvious. LOL
Jane & Money Funk- Thanks and just hang in there! Murphy is taking advantage of you now, just as he did with us, but you will both win in the end. I know you can do it and I hope you come to enemy of debt to announce it when you do! Stick to it and try to ignore the lingering frustration whenever Murphy passes through. It’s tough but you are going to win! Murphy will be defeated!!
Chad – Trust me that has crossed my mind. I am going to savor the taste and learn as much as I can from this journey. Next month will be such a great victory!
Dave – Thank you Dave! Getting out of debt is a very overwhelming feeling! I remember how I felt in December of 2007! I was excited about starting the baby steps, but also remember questioning the possibilities. There was a part of me that still didn’t believe it could be done. Honestly, selling the Vibe gave us the psychological boost we needed. It is when we truly started to believe we were in control!
Brad,
Way to go!!! We just paid off our last cc and auto loan so we’re left with student loans, but we’re about 4 years away… ugh!! But you helping to keep me focused! GOOD JO B!!!!
Yay! So inspiring.
Also, just wanted to let you know that the first month of your journey should read December 2007 (instead of 2008)
I am excited for you…my husband and I have been working toward debt freedom for 3 years. We have paid off all credit card and revolving debt and are now working on the large medical bills we owe. Our goal is one to one and a half years until we are totally free. However, we too, have had Murphy as a continual visitor. Frustrating!
Hi Brad, Congratulations and thank you for the inspiring awe! I need it. Murphy hit me hard and I’m feeling blue. But I know that I need to pick myself back up and reach towards success.
Can’t wait to hear the PIF post.
I would be so tempted to pay that last $239 out of the Emergency Fund. I know it’s just moving it from here to there, but dang…$239.
Great article. I loved how you laid out the time frames of everything you have done. It shows the progress to those who feel overwhelmed by debt. Great job and congrats!!!
Dave
LifeExcursion
Brad & Alana!!! Yipee!! I am so happy for you two and your sweet family! You will love the feeling when you get to yell…We’re debt-free!!! Since Bill and I paid off my car…our last debt other than the house…back in March, we have felt so much better about our finances & even though Murphy came to visit us this past month we are still feeling good because we could take care of Murphy with cash & not credit!!! That is a great feeling!!! Way to go!!!!
Golda
Good LORD that was a great post! I’m new to your story so getting to read through it like that was a treat. I’m smilin’ for ya, man.
Good luck with the speaking engagement! Sounds fun!
Brad,
Congrats!!! You are an inspiration. Murphey hit us hard this past week, but yard sale is in the works for Sept 5th weekend. We are moving on and running fast from Murphey. I am beginning to sell anything that is not nailed down…. lol. Thanks Brad, for bring us Financial Peace at church.
Love ya
Lori
Oh by the way, I think we have paid off somewhere around $3800 so far.
Thank you everyone for your support!
Lori – $3800 is debt you will never see again! Congratulations!
Golda – We weren’t able to become debt free together as originally thought but we still did it!
Danielle – You will be debt free on September 1st? That is excellent news!! I am very excited for you and am glad you shared with us your celebration!
Kelsalynn – Yeah a part of me wanted to use our emergency fund, and if we weren’t having a baby in October I would have done just that. This way I am forced to find another way and we win in two ways. We have more savings and no debt. That is a great feeling!
YEAH! That is awesome! We will be debt free on September 1st as well!
OH MAN it’s going to be awesome!!
Congratulations! only $239~!!! Oh man! That would kill me being that close! Aren’t you tempted to use your BEF? I would be…
We are just under $5k away from debt freedom and it should happen the first week of October. I keep wondering how we will celebrate… fancy almond peanut butter on our PB&J’s instead of the store brand stuff???? haha…