A Penny Saved

I’ve got the ING account all set up and tied to my Credit Union account as well as to my PayPal account. The beauty of that is that I will be able to siphon off some of the profit from our little side eBay business in order to meet our savings goals.

What are our savings goals you ask? Well, we’re desperately trying to adhere to the Total Money Makeover plan, so our initial goal is a $1000 Emergency Savings . That is what this particular savings account will become. Already we are at a little over $675 thanks to our tax return, the $25 sign up bonus and a little extra from PayPal for account verification.

So, with that good of a start, we’ll sit down and finalize our full budget. We’ll begin filling up the emergency fund of $1000 and once that is full, we’ll begin the real work. The debt payoff.

I’m guessing that the debt payoff will still take us at least a couple of years, but I’m hoping to be pleasantly surprised. All said and done, after you include college loans and car loans, we’ve got well over $100,000 in debt. You may not think it’s much, but when you don’t even make half of that combined, it’s very nearly an everest sized mountain. Add on our mortgage, and we get pretty darn close to the $160,000 mark if not surpass it.

I’m still interested in hearing from anyone who has gone through or is going through a Total Money Makeover and would be willing to share their story with me and possibly my readers. Use the contact form to let me know and share your story!

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