Financial Update

Since we've been doing the Total Money Makeover plan for these three months of 2008, I thought I'd give an update on how we're doing.

We are currently working on JMP's truck payment to get that paid off. After that will be the student loan. The truck should be paid off in a few months. I'm doing another payment tomorrow and will figure it then.

We've set up some some mutual funds. One is a Roth IRA for me and the other is a college savings plan for Caleb. This was some money we had set aside that I'd been saving from a gift for quite some time. I knew I wanted it to have some special use and thought the starting of these accounts would be a good way to put it to use. We know we're a little bit out of order on the order recommended by Dave Ramsey as far as paying off the debt and saving but this is how we saw best to use this particular money. After we filled out all the paperwork, I felt so proud of my husband that he is so responsible financially and cares about planning for the future. He isn't materialistic like so many in our age group. I'm so thankful for his wisdom and showing me how important this is for us.

We've been using the envelope system. It's great to plan at the beginning of each pay period how much will be spent on each category. At the end of the two weeks before I distribute more money to each fund I empty out the loose change in each division. I noticed how heavy our Tootsie Roll bank felt so I rolled the money today. It was over $28! Isn't that crazy! I wasn't expecting it to be that much really.

Also today I found out JMP's new pay amount. I'm thankful for his raise.
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"Are not five sparrows sold for two pennies? Yet not one of them is forgotten in God's sight." Luke 12:6