Debt Snowball

The mighty Debt Snowball! If anyone of you have listened to Dave Ramsey you know about the Debt Snowball.

Step #1 $1,000 in savings - Done $1,200 at INGDirect
Step #2 Pay off debt - Only $74, 873 left.
Our Debt
State Farm - $5,883 (The girls card, I got rid of cc debt well over a year ago)
Student Loans - $18,000 (Mine)
Student Loans - $50,000 (The girls)

Luckily she had her undergrad paid for and the $50,000 is in grad school loans.

The girl and I have a decent income and have done our first budget together. It has been a challenge, but when we decided to put our debts together we said we have to see where our money goes.

This has been great, we have budgeted to pay $3,400 a month towards debt (the girls take home pay) and live on my salary. Well at the end of this month we should have at least $300 to buy some much needed summer clothes!!

Living on a budget is a great thing!!