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Written by money funk on November 6, 2009
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I update my budget around the 7th of the following month.
Well, I haven’t done this for a while. Let me start holding my husband and I accountable for our finances. It time again to analyze the direction we are going with our funds.
I do still update the budget regularly. You can see that here. I can tell you already that we are not up to par. I calculated our snowball schedule starting at the point where we reached Dave Ramsey’s baby step one – fund a $1000 Emergency Fund – December 2008. We are behind $641 should we want to be debt free in 5 1/2 years (hey, we owe alot of money).
*talking to self: Hey, I thought we were not up to par alot more than that. That’s pretty cool to find out otherwise. But who wants to wait 5 1/2 years to be debt free?
On top of that, our payments towards our snowball schedule have slooooowwwwwed down (see pity graph below). See, October (Nov…Dec…) are hard month’s to be budget friendly. Climbing Out agrees that October is a nonfriendly budget month, too. Perhaps it would be best to accept that and make provisions for that factor.
Graph reflects recent snowball payments – the yellow bar should be the same all the way across; not low
Provisions
Provisions like adding an extra month per year on our snowball schedule. No… that doesn’t sound like a person’s mentality for getting out of debt.
Another posibility is finding a way to make extra income. Now that is an idea! And you know what, I have! It’s small and building – I will be happy to explain in a near future post.
October’s Net Worth
For the finale, October’s Net Worth
As a Couple
My Personal Net Worth *Darn Student Loans!
Reflects NW against $200,000
*Owning a home can really boost your Net Worth
Starting Next Month I will start comparing the increases in Net Worth. Make it a great day – a great day to start selling everything! 
Article by Christine
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this inspired me to take a look at our net worth. See my blog!
Sometimes it’s looking at everything on paper like this (or a blog) that helps you see where you can do better. Hopefully the coming months are better for you. Stick with it!
Tres cool. Glad I could be of inspiration.
And totally true. It showed me that I really need to PIF that student loan.
And I think I will do better (positive affirmations to tell myself while looking in a mirror). Thank you.
And doing better – I am sticking to my goal of Selling Everything I own! Sorted jewelry items, cleaned out closets for the garage sale expedition coming soon.
Thx for the positive thoughts. Now off to your blog!
We’ve watched our snowball payment melt recently too. It’s almost physically painful to *not* make the payment you’d hoped for at the end of the month, isn’t it?
Ouch. As you noted… right there with you.
The Selling Everything has me fired up — The Wife needs convincing.
Cheers!
Definitely, yes. We either spend more than we paid or the snowball payment is not as high as intended. I am hoping to compensate for these tough months. Now that we have a feel for the budget, we know what we need to prepare for in the future.
Selling everything, kind of nice huh? I’ve done good this weekend in moving with the ’sell everything’ motto. My husband needs convincing too. And it seems to be working. I’m starting with my stuff and he is starting to see what ’stuff’ he really doesn’t need anymore. It’s working well.
I heard once the selling bug gets you then it’ll become addicting. I am willing to find out!
Then let’s all start getting tattoos. I hear that’s addicting too!
Maybe I’ll start with a gazelle…