Book Reviews 2020: When Less Becomes More, Boundaries; Total Money Makeover

I listened to all three books I will review on Hoopla last month. I really love Hoopla- though six audiobooks a month still seems a little stingy for me.

When Less Becomes More: Making Space for Slow, Simple, and Good by Emily Ley focuses on reducing the overscheduled life to reduce the burnout we all suffer from.  I loved this book- the simplicity and solid examples were just what I needed to hear- I may borrow it again, but I want to check out Emily’s other books first- she is a new favorite!

Boundaries Updated and Expanded Edition: When to Say Yes, How to Say No To Take Control of Your Life by Henry Cloud and John Townsend I listened to  as it is recommended by the Dave Ramsey folks as a good way to set limits on people in your life who are draining you- I was focused on the financial draining piece, but recognize I have many additional areas in my life where my boundaries need some work and attention.

That said, this book is based in a Christian setting, with MANY bible references and that can be overwhelming. I did not read the references while listening to the book (I was driving for most of it) so I may have missed bits along the way. I am also pretty sure this is not a book I will read again. Once was enough.

The third book on my list is one I have read before and will read again. I have been a Dave Ramsey girl since 2014 and am striving to live a debt free life. That said, I have areas where review is a good thing.

The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness by Dave Ramsey is a step by step plan to get yourself free of debt. Our US society tells us debt is normal, car payments are normal- Dave tells us it is time to be weird. It is a simple plan that is not easy but is well worth it. I have not yet reached “Debt Free” but I am focused and making strides! Love me some Dave!

Financial Peace University, Class One (Again)

After being derailed by illness last summer, I am restarting my Financial Peace University classes. Terri and Sharon are my instructors and it is a personal class just for me because the other person who signed up didn't make it. Hopefully they can attend next week.

I have decided that March will be a Money Moratorium- needs only spending- groceries, gas, bills.  and emergencies. I need to restock my Emergency fund after repairing my ignition collar. Get Baby Step One done! To that end, I have committed through the first week of May to taking care of my home health case on Saturdays. Getting it Done!

My homework is to do a basic monthly budget, so I got on-line and checked what my monthly bills were, and now have to work on the variable expenses. UUUGGGHHHH!!!

Wish me luck!

Step One Undone

I have has a rough financial summer due to some medical complications that have not only depleted my emergency fun but promise to keep the bills rolling in for months to come.

I am starting again. Saving the $1000 dollars. Again. And then paying the medical bills and furnace by snowballing. Again.

And paying for a new water heater, cause mine is starting to leak and is 14 years old. That is how it is with home ownership- always something.

So I keep on keeping on. It is hard sometimes, but I am still in a better place that I was this time last year.

Financial Peace University, Class Three

Our class was a little smaller this week- and it is all about the budget and developing a plan to assign every dollar in your spending plan.

Budgeting is not easy for me- I discovered in this process that there are a whole lot of wants coming out of my budget and not enough planning for needs that will come up.

The hard work starts now.

Financial Peace University, Class Two

Over $184,000

 

In a class of 4 families, we have a total of over $184,000 in NON-Mortgage debt...

 

HOLY COW!

 

I feel a little stunned by that number. The burden of debt is real in America's families.

 

Additionally, I discovered I am 60% Free Spirit and 40% Nerd when it comes to money- which I can totally see.

 

Finding an accountability partner as a single person is a challenge, as is creating a viable budget. I definitely have work to do. And a lot of work to do with my kids around budgeting and the old "wants" vs. "needs".

 

I guess that is why we call them baby steps.

 

 



Financial Peace University, Class One

I finally signed up and started my classes. I am in class with one married couple, a married older man whose wife is not attending, and another single lady just like me.

Totally did not realize Dave did videos to go with the class. The thing that stands out was the story of his old oak table- so much happens around a dining room table. Life is lived, mistakes are made, and you learn and learn.

I think of my table- covered with the paperwork of my life. My mortgage payment notice for this month, the furnace payment notice. And credit card offers that are awaiting shredding. Mortgage insurance offers... also awaiting shredding.

Among the papers is a list that I generated showing all my purchases from the first of January till April 30th. In reviewing the list, I discovered a whole lot of wants scattered among a few needs. Even now, as far as I have come, I still have so, so very far to go.

I need to stop blowing money, period.

So I made lunches for the week after spending $65 dollars on groceries. I mixed my own lemonade instead of buying pre-mixed. I used things already in my pantry to fill out my meal plan.

I am starting to better understand why Dave calls them baby steps.

Can't wait for class #2 in two weeks.

Baby step Two

So in 2011 I tried a spending fast that didn't really go that well. I got debt free that go round. And then I financed a car and started paying for braces and shopping on credit to fill the gaps. BIG MISTAKE!!! I regret not making a proper budget then. Live and learn I guess.

I tried again to get my finances in check in 2014- I have not used a credit card since that time but have STILL not paid off what I owe in consumer debt. Amazing how quickly those balances can climb.

Progress since then has been steady and I have been working hard since September of 2016, but I had to finance a new furnace at the end of 2016. Bah-Humbug! More debt added to the pile. But the old furnace was over 30 years old. It was time.

Now my car is paid off.

I paid the last installment on my son's braces.

I finished paying off the hospital for my surgery last summer.

I refinanced my mortgage to a 15 year at a lower rate.

I am working outside the hospital for additional income and will try to earn a promotion this year.

I keep reminding myself it took me years to build up this debt. That I need to be patient.

I am impatient. I want to be there. I want to be done.

Getting out of debt is so much harder than getting in. When I get free this time I am staying that way. Period- end of story.

Taxes

The only sure things in life- Death and Taxes.

I already got my return and spent the vast majority on debt repayment. Old Geri would have spent it on wants... a vacation, a new computer, stuff. But Dave Ramsey's Geri is focused on being permanently debt free. So I paid off two medical bills and paid a big chunk on one of my last two consumer debts.

If all goes according to plan, I will be finished my snowball in a little more than a year.

I am doing date night babysitting for two families and interviewing with a third. I am cleaning a house every Saturday till the older couple sells their home. And I am doing my full-time nursing job.

It will not be forever.

And then I will be free!

Baby Step One is DONE!!!

I have been halfway working the Dave Ramsey steps for a while on  a winding journey to becoming debt free. What does that look like? I have not used a credit card since September of 2014. 

Oh my- that seems like such a long time ago.

In the fall of 2016, I decided I needed to do more- so I started reading Dave's books and working on saving $1000 in an emergency fund. Today, it is in there. All $1000 dollars. All my January bills are paid, I have grocery and gas money, and a baby emergency fund.

I finally have some breathing room in my budget.

I finished paying off braces and my Honda- a huge increase in my cash flow for a minute, but in going to the recommended 15 year mortgage, I have a larger payment. Over time I will save a huge amount by cutting off the 8 years- I am focused on that.

The other fly in the ointment was the new furnace/air conditioner. After 30 years, it was way past time, and having a QUIET furnace is kind of amazing. Merry Christmas to me, but I hate that I had to take on the debt. It is "no interest" but I hate it.

On the plus side, my TWO Dave jobs are bringing in much needed income. I am spending less time at home watching TV in the evenings and on the weekends, but I have a goal. A debt free life. The hard work is so worth it.

Additionally, I keep reminding myself that it won't be like this forever.

On to the debt snowball!