OK, I’m writing this post in part to celebrate a huge announcement! We are officially debt free!!!!! Yee-haw!!! Can I get an amen, hallelujah, and happy jig?!!! I want to shout our debt-free scream and dance on the rooftops! It’s been a loooooong debt-free journey, but we are done! More details on that later! It’s been so long that we have to sit down and calculate exactly how much we paid off and how many years it took. We still don’t know exactly. During the journey, we cash-flowed a daughter’s wedding, some cars, my trip to DC, and then we paid off consumer debt, a car loan, and the big bugaboo that we’ve had since our wedding day, the student loans from my husband’s law degree. Good-bye Sallie Mae! We’ve had so many miracles along the way from God helping us. I am so grateful to Him!
We definitely benefited from Dave Ramsey’s guidance. We did his FPU Home Study Course, listened to his podcast for years, went to some live events, called and got on the show three times (DH once and twice for me) and used his cash envelope system. It all worked!!! Fist pump, dancing, and cue the Rocky music!!!!!!!!!!! Yesss! (It was so fun for me to see this museum in the video behind Rocky. I drove by the same exact museum in Philadelphia on my D.C. trip to let a few of my cute young homeschooling friends get out and clamber up the steps for a photo opp in the Rocky pose.)
Have you ever wanted to use the cash envelope system that Dave sells, but you didn’t want to shell out the money to buy one because you are super frugal like I am? Maybe you have the money to get it, but you don’t really like the looks of it? Not that it’s super ugly, it’s just, uhhh, rather plain. Hey, that’s OK, even his own daughter Rachel says it’s not fashionable, so Daddy Warbucks, I mean, Daddy Dave, got a stylish one manufactured in her name, the Rachel Cruze Wallet. It even has her initials on it. That’s another reason I don’t want it. I want my initials on my wallet, LOL! I do agree it’s beautiful.
I have Dave’s envelope system but after using it for three years, I decided I wanted something prettier like Rachel designed, and a little more functional. I don’t like dealing with the flaps in Dave’s system. Trouble is, I didn’t want to pay for Rachel’s wallet. So I took her example of using clips, as shown in her video below.
Then I bought a $1 makeup bag at Dollar Tree, and colored binder clips at Walmart for less than $5. I love the pink glittery bag! And it was only $1! Then I labeled the tops of the clips with a sharpie for my categories: “G” for Groceries, “NFC” for non-food consumables (paper goods, soap, hygiene items, etc.), “A” for my allowance, and “C/Cl” for my kids’ commissions and their clothing (long story as to why they are together).
Done! I love it! Then I fold the receipts and clip them to the money after I buy stuff, so I have an automatic record of where the money went, and I don’t write it down, cause I’m a little
lazy efficient that way, LOL! I used to do it but after a few years decided I didn’t need to anymore. The receipts are folded behind the bills in the photo below. I also a small plastic coin purse (you can barely see it up there on the left) to corral all the coins, which I tuck inside the wallet. It’s not fancy with all the slots like Rachel’s but it works. I have a purse organizer with slots for my cards in my big purse so I don’t need that in this wallet. Someday I’m going to get a concealed-carry card like she has!
We also use the Every Dollar app, but I think we will be switching to YNAB. I just learned about YNAB from Girlfriend Aneladee so that’s what we will be using to see if we like it better than EveryDollar as we attack Baby Step #3! I just finished reading the YNAB book so we shall see! Onward and upward! If you have comments about EveryDollar vs. YNAB, please comment below, I’d love to hear them.