We’re nearing the end of our financial journey. We’ve successfully eliminated all our debt! Learned the importance of a savings while building our retirement. Continue reading
Well, here we are, nearing the end of this financial journey. This feels like the bottom of the ninth, bases loaded and a tie ball game. Aside from our mortgage & auto loans, we have successfully eliminated all other debt!
How awesome is that? I never would have thought that possible when we started this process. As GREAT as paying off debt sounds, that is not even the best news. Our savings and retirement accounts are what we are the most excited about.
When we started this program, I (Tammy) did not have one dollar put into any type of retirement. Wes did have an active 401K account, but we have increased his contributions to that account as well as put a considerable amount into my ROTH IRA.
Our boys have worked so hard to earn & save every dime they could get their young hands on. We are really shocked at the amount they have been able to contribute to their savings accounts.
We have experienced a few setbacks… that’s just life. Cars break down, mortgage insurance goes up, someone get’s sick, appliances go out etc. The cushion that we have in our savings account has helped with some of those curve ball’s that we have been thrown. The lesson we have learned is that when we have had to take from that savings…. And how important it is to replace that money as soon as possible.
We have taken a long hard look at our spending habits. Ultimately, I think we all value a dollar a little more and we consider our want’s vs our needs when we have an extra dollar or two.
We want to thank Katelyn, our financial advisor for helping us throughout this process. We have enjoyed working with her, volunteering with her & hope to continue our professional as well as personal friendship long after this contest is over.
Our family would also like to wish the Rider & Manson family the best of luck. We KNOW the struggles; obstacles & up’s & down’s this financial journey has been. No matter who win’s the contest, we hope ALL of the families have learned & improved their finances as much as #TeamWooton has.