{budget life}

-BUDGET LIFE-

First budget update for 2021.......

Dave Ramsey's Baby Steps:

1. Save $1000 in a beginner Emergency Fund  = COMPLETE
2. Pay off all debt = *ZERO debt except for the SUV (2 yrs left)
3. Save 6 months (living expenses) emergency fund = COMPLETE
4. Invest 15% of your income for retirement **
5. Save for your kid's college fund = N/A
6. Pay off your house early = PAID
7. Build wealth & Give freely **

I set a combined savings goal for 2020 and saved 91% of that goal!!

MONEY SAVINGS CHALLENGE

I worked on (2) $1000 money saving challenges in 2020. I completed one = $1000 and saved $700 on the second one. I used the $700 in October to cash flow our little getaway! I used the $1000 one as part of cash flowing Christmas expenses. I budgeted for Christmas and stuck to it!! It's a great feeling on December 26th knowing everything is paid for! 

I have started my first $1000 money saving challenge for 2021 and have a $200 balance as of today.

SINKING FUNDS

I have a Sinking Fund going for our little kitchen refresh which should get started soon. 

-Regular Monthly Budget-

I'm still doing @thebudgetmom's Budget By Paycheck budgeting system. After a year of sticking to the tracking spending and finding a place for our money to go each month, I feel very accomplished and on top of our finances. I still have things to learn, but this system seems to work best for me and this is the most consistent I've been with budgeting in awhile.