Its been 8 weeks into our Total Money Makeover and I'd like to start out with a few victory stories.
First of all, we went to San Antonio at the end of February and we actually stuck to our budget for the weekend!! It felt so good, driving home the three hours and not pondering buyers remorse, or wondering how much money we had just blown. We had a great time, ate at nice restaurants and went shopping; all the while staying within a set amount of money. It was great! Secondly, we got our tax refund, and were able to pay off our last and final credit card, pay off the boat AND put a roof on the house. All do to smart money managing and budgeting. The ironic thing is, now that we paid off the boat, we have decided to put it up for sale... Sad, but we wont be using it anytime soon and would much rather use the money.
Unfortunately, Murphy's law decided to pay a visit to us. We couldn't just relish in our victories for long. We recently got notice that Bryan is deploying to Afghanistan for 6 months which definitely throws a wrench in our financial "plans." Luckily, those "plans" can be rearranged. We have an unexpected move to look forward to and some changes in our life to account for. In a nutshell, these next couple months will be trying, but I am a follower of God and I believe this is his plan for us, and he has a reason for everything. This will make us stronger in our parenting, marriage, faith, and as individuals. More on that later, maybe in another post.
Anyways... on to current events.
This week we learned about insurance *yawn* right? Actually It was quite interesting to me and I learned ALOT!!
There are SEVEN basic types of coverage that Dave Recommends. SEVEN!! And I don't understand any of them. Until now. At least I have an idea. The basic types of coverage needed are:
1. "Guaranteed replacement" Homeowners or renters insurance,
2. Auto,
3. Health (preferably a HSA -health Savings account),
4. Long term disability,
5. long term care insurance (at age 60),
6. identity theft protection, and
7. Term life insurance.
Alot to take in right? Mission this week:
Identify any insurance policies that need to be changed or added to our financial plan, get life insurance and make a will.
Next week, How to buy only big, big bargains!
Hey girl! Love the post! We have been working Dave's baby steps since Dec. '09. We have about 60% of our baby step two down! Murphy has definitely visited us too but it feels so good when you beat him to a pulp without cracking a sweat because of good budget planning! God has definitely changed "our plans" but in a way better than we ever could have expected or done ourselves. Stay faithful and like you said it will improve your marriage, finances, family and parenting! Love and miss ya!
ReplyDeleteOh and the insurance stuff is so true! We reviewed all of ours, made the necessary changes and went with Dave's suggestions. We really like Zander too.
Sara M.