This step can be the one that people find difficult to keep their momentum up with. We've had all the awesome wins from paying off our debt in BS2 and now, Baby Step 3 (BS3) is to save 3-6 months of expenses in EF to make it your Fully Funded EF (FFEF) It can be hard to keep pushing yourself when you really feel like you deserve a break after all that hard work in Baby Step 2 … [Read more...]
Dave Ramsey’s Baby Steps (the UK version)
Dave Ramsey is an American Financial guru who has a money management plan that is broken down into 'Baby Steps'. Dave Ramsey's baby steps is all about freedom finance. It's a fantastic plan but it is very much geared for a US audience (it uses/mentions financial products and terms that aren't relevant here in the UK) so I've re-written them to align a bit more with our British … [Read more...]
Baby Step 2 – Debt Snowball – Dave Ramsey Baby Steps UK Version
The Debt Snowball is arguably the most important of the Baby Steps as it not only clears your debt, it changes your attitude towards money. Baby Step 2 (BS2) is to work on your Debt Snowball The Debt Snowball is a debt reduction strategy where you pay off your debts smallest to largest (regardless of the interest rate), this may seem a bit counter-intuitive to some people but … [Read more...]
October 2018 Budget Report
This is one of those months where I'm glad we've got sinking funds! It was an expensive month mainly due to added costs from the dogs which was planned out already but there was also a bit of overspending in other categories, I say every month that I need to get a handle on the miscellaneous expenses and still haven't quite got to grips with it yet, I think I need to add in … [Read more...]
September 2018 Budget Report
This felt like a looong (and expensive) month. September was our 6 week paycheck stretch month and thankfully we managed ok! It's another month where I feel we could have done better with the budget but as it is it wasn't a bad attempt. … [Read more...]
