Here is how things break down. Hopefully seeing these hard numbers will help people understand that normal families can accomplish financial freedom as well!
We make $4,584.00 base pay and $1272.00 for our housing allowance. We choose to live on base and our rent is $1,150 (includes utilities) therefore we receive $122 back each month making our take home pay roughly $4,032 (after taxes and such).
Our starting number is $4,032 for each month.
Expenses that are not debt are:
- Cellphone 1 – $39.73
- Cellphone 2 – $39.73
- Internet – $44.99
- Netflix – $15.37
- Insurance – $149.82
- Total expenses = 289.64
Our debts:
- Personal loan – $449.56
- Student loans – $202.36
- Vehicle 1 – $350
- Vehicle 2 – $350
- Revolving debt – $125
- Total debt = $1476.92
Phew. So much debt!
Those two categories added together means that $1766.56 automatically comes out of our account each month leaving $2265.44
This is an improvement from a few years ago if you can believe that; we’ve since paid off THREE debts and have received a few pay increases.
Currently we are snowballing at least $750 a month into our debt automatically, but will randomly throw chunks as the month goes on.
We’re hoping that this blog keeps us in check so we can throw at least $1,000 additional toward our debt each month.
Now let’s high five since we just showed y’all our skeletons, that’s the appropriate thing to do, correct?
The Budget Butler 
$1476.92 is the payment you make towards your debt or is your total debt? That wasn’t clear.
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$1476.92 is the total of the automatic payments that go toward debt monthly. We pay that plus whatever is snowballed toward debt each month. I would say it’s the “minimum” but most of the debts are being overpaid automatically. 🙂
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We are trying to follow the Ramsey method to become debt free as well. I am so very excited for you guys! Debt is such a heavy burden. Thank you for your honesty! I am definitely looking forward to following your blog .
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It is such a heavy burden, I’m glad you’ve seen the light and are on your way to being debt free as well. I can’t wait to be free! ❤
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Lacy – you can’t go wrong following Dave. Good luck on your financial journey
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Good luck katrina! $100K is a huge burden but I am here to encourage you to follow what Dave teaches and you will be out of debt in no time. When I started following Dave I was like you and had $104,616. It sucked to have the debt but getting out of it was one of the best decisions I ever made.
Thank you and your spouse for your service.
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Thank you very much for the encouragement! It is a huge burden that far too may people face. Congratulations on being debt free!!
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You can do it! I know it’s a lot of money and that is a huge burden but you can do it! Good luck to you!
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