Dave Ramsey’s Baby Steps
- $1,000 to start an Emergency Fund
- Pay off all debt using the Debt Snowball
- Three to six months of expenses in savings
- Invest 15 percent of household income into ISA's and pre-tax retirement
- College funding for children I don't have children so this one doesn't count.
- Pay off home early
- Build wealth and give!
Goals for 2015
Goals for 2014
- Become Debt Free again. Done in March!!!!
- Save $10,000 towards mortgage deposit by August.
- Save £1,200.00 into my Expense Account (incl. in Emergency Fund total).
- Get mortgage in August.
- Save £4,000.00 into Emergency Fund (total).
- Stick to my budget!
- Finish two of my craft projects.
- Lose 20 pounds in weight.
- Read the books I have before buying any more.
- Write a letter every other month to my sponsor kids.
Goals for 2014
1. Pay $15,000+ off my mortgage by December. $16,500.00
2. Clear my debt and do not add a penny to it! Fail
3. Save interest on my Flexiloan by stacking payments onto the account. Fail
4. Keep accounts up dated weekly. Fail
5. Read The Richest Man In Babylon again! Done
Goal's for 2012
1. Stay debt free! Fail
2. Save £7,000 in my Building fund. Done
3. Fully fund my Cash ISA by the end of the tax year in April and then start my second. Fail
4. Add £2,500 to my NZ account. Fail
5. Keep to a tight budget with all my trips. Fail
6. 200 No Spending Days for 2012 Fail
Goals for 2011
(Baby Step 2) Debt Free Date: 20/04/2011 This baby is done!!!
(Baby Step 1) Emergency Fund: £1,000.00 16/05/2011 This baby is done!!!
Rates for 2011/12: £500.00 23/05/2011 Paid and Posted
(Baby Step 3) Freedom Account: £4,000.00 (so far £3,000 - 24/11/11) Missed this goal as I over
spent in December by heaps - so £1,000.00 short!
House Deposit Fund: £5,000.00 (so far £3,000 - 31/12/11) Was £2,000.00 shot for
this goal. So it will be my major goal for next year!!
Cleared my debt and have started saving again. Spent a little more that I planned so didn't start my Emergency Fund saving this month.
Paid my July Tax bill in full, the next payment due will be at the end of January. Emergency Fund has been reduced to £691.84 as I have had to buy a new computer this month so will need to top up this account. Next month I have having two weeks off and so this will reduce the amount of tax I need to save.
Well its years end and I am behind in two of my goals but to look at it in a positive light I am financially better off than I have been ever. My networth is £17,700.00 with is pretty dam good when I think back to what it was almost five years ago and I owned nothing but owed thousands. So its been a good year!