One of the biggest reasons for creating MommyLuvs2save was to create a community of moms and dads who want to help their family save money when buying essentials in order to free up money for debt repayment. My own family has paid off over $111,500 in consumer debt including credit cards, student loan debt and 2 vehicles. I am a teacher at heart. I want to use the skills that I have learned to help YOU ditch debt. I want to encourage each of you in your efforts so that one day you can feel the freedom of being debt free. I’m not quite there yet either (we still have a mortgage) so I need encouragement as well
It can be very difficult to pay down debt. There are many temptations to spend money. We live in a culture that encourages debt and spending. In addition, expenses come up and there never seems to be any extra money for paying down debt. I want to urge each of you to participate in a challenge. Just leave a comment about one positive step you’ve taken for your family each day. Did you eat in instead of going out? Did you save money at the grocery store? Did you pay extra on your credit card? Leave a comment below and we will cheer one another on every day and every step of the way.
* I will also be sharing my progress from the day prior.
My Progress: Yesterday was another busy day. Ro went out to get Sunday papers, but they were gone before he got to Dollar Tree. That hasn’t happened in awhile. I ran to Dollar General for a few items I needed to wrap a baby shower gift. I picked up my sister and nephew to go to my other sister’s baby shower. We spent most of the rest of the day there. We played a bunch of baby shower games. I won a $5 Wawa gift card and a cute little bag with lotion, tissues and other items inside.
I came home and made a few items for our Super Bowl dinner. The girls helped me and we made mini hot dogs wrapped in crescent dough, cheesesteak quesadillas and wings with chips and cheese dip. The food was gone shortly after the start of the game, but it was good. I watched the Super Bowl, did some paperwork and went to bed. I’m bummed about the coupons, but it is what it is. There will be more coupons…
I’m a major dork, but I’m excited to pay the mortgage today because it’s a 15 year loan and we’re 8 years in plus I’ve paid extra on it along the way most months. At this point even when I pay the regular payment, $1250 comes off of the principle. It’s fun to watch it go down, down, down. Plus each month the amount that goes to principle goes up, so next month it’ll be $1255 or so… You have to choose your fun. For some people it’s the fancy shoes and purses. For me it’s seeing how much comes off of the principle each month – ha ha. The moral to this story is to get a 15 year mortgage instead of a 30 year whenever possible. We have a 30 year on our rental and about $160 a month comes off of the principle. It’s a major difference !
So how about you ? What did you do ?? Let’s make 2020 our year !!!