Yes, today is the day before tax day. I saved my taxes for today, thank goodness I had all the information I needed. But, looking at my records made me ponder. There must be a way to spend less on interest. The amount we pay yearly makes my eyes pop. So, starting today my goal is to go debt free.
I have researched and read blogs regarding going debt free. The most useful plan, the plan that would be easiest to follow for us, would be Ramsey's snowball payments. The idea is to list all your debts and start paying off the lowest balance first. Then, once that is paid off, add the payment amount onto the next smallest balance.
Our family has 5 debts to get rid of. I hope to rid the first when we get our tax refund back to get the ball rolling. I just sit and day dream of the day of not owing debt. Saving 40% of our income and using the remaining 60% on monthly expenses. This will give us a chance to save for college funds for our 4 children and add on to our retirement plans we have already started.
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