Number Crunching

Curiosity got to me. I decided to crunch the numbers today and see how far we've come with our debt pay off. Ironically, our first calculations in December of the total amount of debt at $50,500 was incorrect. As it turns out we had $51,233.68. Over fifty one thousand dollars. My heavens...!

Furthermore, that number isn't even accurate either. We can't say much at this point but as some of you know I have to pay my taxes in advance. As a result I did a rough estimate that it would probably be somewhere around the $15K mark as all previous years for taxes were in the $20-25K mark for the last 5-7 years or so.

We left our jobs at Superintendents in April so that means we were only being paid from work January to April, cutting down that income significantly, but of course my "old" annuity still ran from January until April as well and the "new" annuity amount started May 1st.

Having said all that, our taxes for 2016 was a guessing game. We guessed wrong. That's all we know so far.

Anyhoo... as of right now we've paid $30,520.33 towards our debt! Whoo-hoo! $30K paid and only $20, 825.34 to go!

In a few months we think that 20K left to pay will start to really pick up speed and fall off very quickly.

Things are in the works and the dollar amount towards our debt keeps gettin' better.

Every year I've been pretty bitter about paying taxes. This year, not so much... I came into it more prepared than any other year previously. That helps! It helped having the right attitude and mindset of things above, not things below.

Hey, if Chris and I can do this...you can, too. :) Don't be afraid to file your taxes and crunch those numbers! Pay off that debt, especially if it's tax debt. It's worth it! :)

Don't be afraid!!

We talk about our finances often, with each other and other people. We're not afraid to talk about it. It's not the big elephant in the room anymore.

Chris and I had two great chats about finances today. A dear friend was going over her budget this evening and I couldn't help but be excited for her written budget! Yes, budgeting makes me all sorts of happy. I'm weird... what can I say....

Then we were off to the bank, to chat with a bank manager about some financial goals and plans we have in mind. We were late for our appointment -- thank you OC Transpo -- but thankfully our bank employee was gracious enough to still see us before her next appointment. In the midst of our chat, we went over a few general information items she wanted to ask us, and discovered that we're budgeters and had already paid off approximately $30,000 in less than a year with about $20,000 or so left to go. She stopped talking, looked stunned and whipped her head back around at the computer screen to examine our bank statement numbers again. 

"I wish you could teach my daughter how to do that!" she exclaimed.

We tried our best to be humble and indicate the amazing Dave Ramsey plan that we're following. Emphasizing it's a lot of sacrifice, having a written budget and following the plan to the best of your ability. 

It can be incredible the reaction you may get if you are open and honest with people sometimes...You never know she may mention our success to her daughter or a friend may see the benefit of writing out a budget for their own hopes for the future.

Don't be afraid to step out of your comfort zone and do something daring -- like talk about finances! The more we talk about it, the less scary it is... Being honest with our Heavenly Father, your spouse, yourself , friends and family can mean the difference that only you get out of debt, or having your family or church family out of debt, too,  Isn't the point of this journey we call life, to support one another? By being honest, we can truly be an encourager for those who don't see a way out of the mess they're in. 

So yes, I may seem a little overly passionate about the idea of sitting down with pad of paper, and calculator but there's a fire in my belly, a passion that I just can't contain and I pray everyday that someone else be inspired by the stirring of the Holy Spirit to give this a try for themselves. If you're too afraid to do this alone, reach out to someone you trust who can look at those finances with you. Honestly, after the first 10 minutes it's not so scary anymore and soon after it gets really exciting and fun! 

February 2017 Budget Report