The Journey to Financial Freedom (AKA the "Money Makeover")
So, here is a round-up of all the "Money Makeover" posts that I have completed. Items without links are pending (and subject to change).
It should be noted that this strategy is largely based on the advice provided by Dave Ramsey in "The Money Makeover" - huge props and credit to him (he is literally changing my life). The posts are based on my take and experience with the strategy as well as lessons learned along the way.
I truly hope you find them helpful :)
- Introduction - Covers how it all started for me, why we should have a makeover and some truths that we need to admit before beginning.
- Step 1: The Budget - Helps get you started with creating your budget and offers pointers on how to organise it.
- Step 2: "Allocated Savings" - Introduces the concept of our "allocated savings" account and how to track our savings.
- Milestone 1: Emergency Fund 1 - Our first key milestone in our journey. The creation (and maintenance) of our front-line emergency fund.
- Step 3: Cut! Cut! Cut! - Some simple tips and tricks that I have picked up along the way to help try and cut our spending to funnel more cash to where we want/need it.
- Milestone 2: The Debt Snowball - Now we have some breathing space provided by our emergency fund, let's get to clearing that debt!
- Now, Celebrate! - Congratulations! At this point, you are debt free!
- Milestone 3: The Emergency Fund II – Now that we are debt-free, lets focus on getting some real money in the bank for added peace-of-mind and security.
- Tip #1: The Budget Calendar – Little tip to further help reduce financial surprises and make monthly budgeting easier.
- Tip #2 – Managing Budgeted Items – Once we are running with a budget, tracking every transaction on your account(s) can get tedious. This tip might help!
Posts coming soon..
Here’s future posts I intend to write. Some of these may take a while as I am writing all of these from my own personal experience of the Money Makeover.
- Buying a Home