Hey y'all John's wife here. Thought I would give you all insight to my experiences with debt consolidation. First off, I have to say that I sat through two great DVDs featuring Dave Ramsey, and I really enjoyed him and the message that he was selling. One thing that I really liked was that he talked about a budget not being a bad thing, but being a road map as to where your money was going, and you could decide where it was going.
I have to admit I was against the budget from the very beginning- I hated that John was tracking all our money and asking me questions, seriously must you question the $20 that I spent at Target? The answer to that, YES! I have learned that $20 here and $10 there really adds up. We are still working out all the kinks with the budget, but hopefully in 60-90 days we will be doing better.
We are also getting our emergency fund set up- that to me is very important, it scares to me think that if something happened we would be scrambling or freaking out- having $1,000 in savings, makes that flat tire or that bill you forgot about seem a little easier to swallow.
We are also making headway on our loan modification with Bank of America- it has been a little over a month since we mailed our paper work back, and when I called to check on the status I was told that we were still in the "processing" phase. So hopefully no news is good news. We have been very honest about our finances with the bank, we are not trying to hide anything- and honestly we do quality for the loan mod and deserve it.
Overall, I am pretty happy with where our financial road is leading- we are definitely in a much better place then we were six months ago and six months from now we will be even better. I do miss shopping- that has been the hardest thing for me. Not being able to buy what I want, when I want is rough. But I have learned that I am an emotional impulse buyer. I now only buy things I LOVE and I really think about things before I buy them, mostly because I think about "is this worth explaining to my husband!!!??" But for me it's good, my spending was completely out of control- I did now know where my money was going and it was being spent on things that I really didn't need or want.
We continue to keep looking ahead to bigger and brighter things, things do not turn around overnight, but they do look a whole lot brighter!
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