BUDGET - 2022

{budget life} 🗂 first budget update for 2022…..

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Dave Ramsey's Baby Steps ✅ last year—>to now

• Save $1000 in a beginner Emergency Fund = 2021 COMPLETE 

 1/01/22 - COMPLETE 

• Pay off all debt = *ZERO debt except for the SUV (2 yrs left) 1/01/21

1/01/22 - ZERO DEBT + SUV is PAID IN FULL

• Save 6 months (living expenses) emergency fund = 2021 COMPLETE 

1/01/22 - COMPLETE

• Invest 15% of your income for retirement **

• Save for your kid's college fund = N/A

• Pay off your house early = PAID IN FULL

• Build wealth & Give freely **

@daveramsey 

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MONEY SAVINGS CHALLENGES: 2021—>2022

I worked on (2) $1000 money saving challenges in 2021. I completed one = $1000 and saved $400 on the second one. I used the $1000 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! The $400 is in a sinking fund for a few upcoming house updates, but we have started a new $1000 money saving challenge for 2022. 💰 

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SINKING FUNDS 2020

I have $400 in a Sinking Fund for a few small upgrades we want to do around the house. 🙌🏻

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MONTHLY BUDGET

I'm still doing @thebudgetmom @budgetbypaycheck budgeting system. After 2 years 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. 

• We added broadband last year and its been a game changer - we have much better quality internet/tv/phone service and we SAVED a ton monthly by the switch. We dropped Viasat which literally sucked and was wayyyy overpriced —$119 month……we got Directv to knock our monthly pkg down $50 /mo from $135 to $85……and be CANCELLED VERIZON!!!!!! Best $95 savings yet!!! We had phone outages or crossed lines with neighbors every single week…..we opted for Magic Jack - $45 for the Magic Jack/$23 to keep our same number/ $125 for 5 years service!! We won’t have a phone bill for 5 years vs $95 /mo….that’s a win for us! 

• We paid off the SUV 2 years early so no more payments!!! We did go back to a garage vs a lot , but we decided it would probably help with the longevity of our SUV, so the $50 more per month seemed like a good option. Other than those 2 big monthly bill changes, our budget is pretty much the same.