Happy New Year!!

2014 is here and if you are like me your head is spinning just a bit!  It seemed that Thanksgiving was here and now suddenly we are at the beginning…again.

Changes in 2013.

Change began last year when I decided to expand my brain and begin a Master’s in Ministry program.  The difference between undergrad and an advanced degree is all the researching and writing! Fortunately, I absolutely LOVE research.  I could spend HOURS on the computer learning about specific topics.  It is also fortunate that I have been blog writing for the last four years.  It has made the 15 page papers I’ve had due seem not so insurmountable!

What will happen in 2014?

Beginning mid-January, I will be in classes non-stop until December.  In the midst of it all, my husband and I will be taking some newly-married couples through Dave Ramsey’s Financial Peace University! Yes! We will be repeating the class and refocus on some goals we let slip to the sidelines.  The main goal is to knock out our HELOC by December 2014.

Did I just write that?

I guess that means it has to be done.  Once I say I’m going to do something, I get it done or else! (The or else is I usually beat myself up for not reaching my goal!)

How much is it?

I’ll let you know the entire amount once we have it paid off, but for now, let’s just say we owe about as much as a brand-new teacher would make in his/her first year of teaching.

How will we do it?

We are going back to the basics. We will get back on track with our envelope system for the basics like groceries and household expenses. Any extra income will be thrown at the HELOC with much force to Beat. It. Down! That means any tax refunds or bonuses will not be used for “extra” things like the kitchen I was hoping to remodel this summer. *sigh*

Once it is paid off, we will have $433 a month in cash that is ours to keep!  It also means we will no longer be up-side-down on our home…we’ll be even. (Darn housing market!)

Time to get serious, people! I mean business. I’m tired of giving my money to the bank for interest! I rather be investing it and having them pay me interest! FPU starts in February, but our challenge begins NOW!

How are you starting your New Year?