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: I had a pretty good day yesterday. The girls had the day off from school because of an inservice. They slept in a little and did a little homework in the morning. I took them to Chick fil a for lunch and then we went to Marshall’s to get a few wardrobe pieces for cooler weather. Yesterday was 93 degrees here, but today we’ll be lucky to see 65 degrees. What a crazy weather week. I gave each of the girls a budget and they both chose a few things they are really excited about. I made a simple dinner since we were out all day. I did all of my Bing searches and the girls finished up a project for school before bed.
I paid the mortgage yesterday. I know I am a silly lady, but I LOVE paying the mortgage and seeing the balance go down. Since we have a 15 year mortgage we are at the point where without even paying any extra $1235 comes off of the principle and that amount goes up by about $5 each month. It is really rewarding. On the other hand the rental we purchased a few years ago is on a 30 year mortgage and I think about $160 a month comes off of the principle and it’s taken 4 years to get to that point (insert angry face here). The moral of that story is GET A 15 YEAR MORTGAGE !
Let’s make 2019 OUR year !!! We can do it !!