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Total Money Makeover

EEKS!  I finally decided to read The Total Money Makeover by Dave Ramsey.  I'm not seeing the end result being one we can achieve unless I go back to work.  Mark and I have worked our way to zero car payments, we have been and continue to be credit card debt free.  We refinanced the house for 15 years and are actually saving money monthly but paying off the house faster.

I can dig the step 1, step 2 (because I don't need to do them) Step 3 is taken care of, Step 4 is not what Dave says it should be but we are making contributions to 401k and we have a Roth IRA and saving for retirement.  Step 5 is a thought we have on occasion, saving for the kids college fund.  Step 6 is more appealing than the college fund, paying off the house.  Step 7 is give, give, give which I can totally dig.  

After reading the book I am feeling pretty good about our financial state.  Mark and I are NOT normal.  Weird is okay for me in this area.  The statistics blow me away.  I can't believe Mark and I have managed not going into more debt other than new cars and a very, very small student loan that we paid off before I even graduated college.

We budget, we follow it, we have very little left over.  What are we doing wrong?  We own both our cars so we have zero car payments  We feel like there is not a whole lot of wiggle room to do other than survive. We are a little over in the house payment vs income ratio.  Which he says to stay at 25% of you income.  Although we are not in debt and do have money left over it is not what Dave Ramsey would consider Step 4, 5 and 6.  I guess you do what you can and stay out of debt.  My kids are going to have to stay home and go to community college.  Unless they can get a scholarship or I go back to work.

Don't get me wrong I am trying to cut costs in many areas.  I have tried consignment shopping for the kids without much luck.  I have sacrificed cable TV for years.  Although I don't consider it a sacrifice anymore.  Blessed to not have a billion channels to surf, selling me things I can't afford or even need.  I do have my first ever "smart" phone but canceled the home phone. We pay more for the cell but not bank breaking.  I feel like without two car payments that we should be able to afford this luxury in life.  Maybe my attitude of being able to afford the luxury is what gets us to break even and not get ahead.

Stay at home mom or college?  Stay at home mom or retirement fund?  Stay at home mom or house paid in full?  Bottom line is this, is being a stay at home mom more important to my kids or financial stability. The only way I see us getting ahead is for me to work.  I'm I wrong?  If I am wrong, someone show me the error of my ways.  I love being a mom but I want to be 100% debt free too.

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