You may remember reading a few weeks ago that www.JosephSangl.com will be featuring inspiring stories of people who are marching their way out of debt.
Today, www.JosephSangl.com welcomes the second couple!
This couple has announced to their debt that they are breaking up with it. Their friendship with debt has waned and frankly, it's time for them to cut debt out of the picture.
This young married couple is ready for DEBT FREEDOM!
Here is what their Debt Freedom Date Calculation looks like.
What went well this month …
This was our first month using our cash envelopes and everything went very well. They really made us stop and think…do I really need this?. Therefore, we did not spend money on unnecessary things like we normally do. It also made us realize how much "unconscious" spending we were doing. Our money was more precious to us, and we wanted to keep it as long as possible and spend it wisely.
I have to say, it was kind of fun
. My husband and I would buy each other things with our "own" money, which made those moments more special. I knew he only had so much to spend and the fact that he chose to spend a little on me was sweet. Anyway, if you haven't tried the "cash envelopes
", you should. It was an eye opening experience that we are going to continue…and enjoy.
Oh yeah, we did not accumulate any more debt this month!!!! That was one of the greatest benefits to the cash envelopes and Joe Sangl's plan.
Challenges and struggles for this month …
Our greatest challenge this month was not preparing for all of our "known upcoming expenses
". There were a few things that came up that we had forgotten about or just didn't know were coming. Luckily for us, we had a little extra money come in that was not added to our income. It was our saving grace. Otherwise, we would have put more money on the credit card. So what I learned from this is to start paying attention to the little things that cost money; haircuts, gas and food for upcoming trips, shots and boarding for the dogs & seasonal things like swimming pool covers and lawn maintenance. But, I know the more we stick to the plan, the more aware we will become.
One more small challenge we had was making our cash envelope last all the way to the end of the month. We both had 3 or 4 days left and all the cash was gone, which meant no more spending.
Sangl Says …
This is the second month that couple #2 has had a detailed plan
for every dollar. INCOME – OUTGO = EXACTLY ZERO!!! It is awesome to see you guys get FIRED UP about achieving debt freedom! You are TELLING your money where to go instead of wondering where it went. As a result, you guys are going to achieve Debt Freedom way sooner than 42.9 months and will be able to GIVE more than you ever dreamed, SAVE far more than you imagined, and SPEND more than ever before. All because one day you said "ENOUGH!!!!"!
And you say that the cash envelopes were "kind of fun". You are exactly right! For those of you making fun of couple 2 and their cash envelopes, watch how well it allows them to follow their spending plan and get out of debt much sooner!
I'm proud of you guys!
Readers … Would you write some notes of encouragement for couple 2 as they embark on their race toward debt freedom?
Read recent posts on www.JosephSangl.com
Subscribe for FREE to www.JosephSangl.com