{"id":2098,"date":"2010-11-08T08:43:58","date_gmt":"2010-11-08T14:43:58","guid":{"rendered":"https:\/\/68ba7cb72d.nxcli.net\/?p=2098"},"modified":"2010-11-08T08:47:30","modified_gmt":"2010-11-08T14:47:30","slug":"paid-off","status":"publish","type":"post","link":"https:\/\/caseyandkelly.com\/?p=2098","title":{"rendered":"Paid off!!!"},"content":{"rendered":"
As of this morning (should have been Friday but there was a delay because of transferring funds between banks), the FX is paid off!!! \u00a0Our original loan started on 11\/1\/06 and was for six years, then we refinanced to a lower percentage rate last year which added another year to the loan. \u00a0So we paid off the loan almost exactly two years early from the original loan start date. \u00a0Yay!!!<\/div>\n
We started trying to follow Dave Ramsey in May. \u00a0We haven’t been “gazelle intense” (actually selling the FX to get out of debt faster) or we probably could have paid it off even earlier but we have been making a concentrated effort to pay the FX off and it worked. \u00a0We’re not completely debt free yet as we have my student loans still to pay back but we’re getting there.\n<\/ol>\n<\/div>\n
Dave Ramsey’s Total Money Makeover outlines the seven Baby Steps for getting out of debt and to financial freedom.<\/div>\n
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    \n
  1. Baby Emergency Fund – Save $1,000 as quickly as possible.<\/li>\n
  2. Pay off all debt with the snowball method. \u00a0Pay off the items with the smallest balance first and then take that smaller payment and add it to the next biggest debt and so on.<\/li>\n
  3. Fully Funded Emergency Fund – 3-6 months of living expenses.<\/li>\n
  4. Invest at least 15% of pre-tax earnings for retirement.<\/li>\n
  5. College funding for your kid(s).<\/li>\n
  6. Pay off your mortgage early.<\/li>\n
  7. Build wealth and give.<\/li>\n<\/ol>\n<\/div>\n

    We’re actually going to be moving the baby steps around due to the economy. \u00a0Instead of attacking my student loans next, we’re going to jump to BS3 and save up 3-6 months living expenses. \u00a0At the same time, we’re going to start a new car fund since our almost 16 year old other car isn’t safe and probably won’t last much longer. \u00a0We’d like to drive the thing into the ground so it won’t go anymore and we have more time to save. \u00a0But at the same time, we’re planning to donate (tax deduction) it to Goodwill or some other charity and doubt that they’ll take it if it doesn’t run. \u00a0So hopefully we’ll be prepared when a good deal comes along. \u00a0Once this step is done (which should take the entirety of 2011) then we’ll go back and back off the student loans (consolidated and I think I still have like 15 years left to pay back).<\/p>\n

    (Word Press is doing something to my formatting. \u00a0There are separate paragraphs here.)<\/p>\n","protected":false},"excerpt":{"rendered":"

    As of this morning (should have been Friday but there was a delay because of transferring funds between banks), the FX is paid off!!! \u00a0Our original loan started on 11\/1\/06 and was for six years, then we refinanced to a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2098","post","type-post","status-publish","format-standard","hentry","category-everyday-events"],"_links":{"self":[{"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=\/wp\/v2\/posts\/2098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2098"}],"version-history":[{"count":0,"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=\/wp\/v2\/posts\/2098\/revisions"}],"wp:attachment":[{"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/caseyandkelly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}