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Getting back in the game...again!

October 29th, 2008 at 10:12 am

We fell off the envelope wagon over the last few months. In August we welcomed our 6th child to our family- which meant a lot of precooked meals and processed foods blew the budget. THEN we had to refinance before December 1st to avoid our nice ARM adjusting, so it was massive home renovation time so our appraisal would come back high. Literally all our savings was used up and credit cards were maxed out to acomplish getting all of our jobs done. We went from a 10.25% rate that was adjusting to 10.5% to a 5.87% 30 year fixed which I am very happy about. BUT I'm not too happy about our financial status now- so I am going back on the Dave Ramsey envelope system and am going to aggresively be paying down debt and sticking to our written on paper before the check comes budget. I DO love squeezing the pennies- but I also admit- I did enjoy the little reign of "freedom" we had the last few months too. It's hard to juggle and find the nice median. Having this blog to write in about our success and sometimes not so successfulness is an encouragement for me- so I am back!

1 Responses to “Getting back in the game...again!”

  1. ceejay74 Says:

    I'm in that boat of not being able to refi my adjusting ARM because my home value no longer exceeds what I owe. I'm just swallowing the adjustment for the time being--then again, mine only went up to 5.99% this time, which is still pretty good.

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