I’ve come to the conclusion that if I’m ever going to make any progress financially – build my Freedom Fund, save for a house, maximize my retirement savings – my only choice is to become debt free.
Perhaps I’ve drunk the Dave Ramsey Kool-Aid, but after over a year of making a financial plan, changing my mind, making a new one… saving up money, then using to pay off debt…then doing the whole thing all over again…I’m just plain exhausted with my own fickleness. I’ve decided to just bite the bullet, wipe out my debts, and start building wealth from there.
The next debt on the chopping block is my car. I’ve suspended my Roth IRA contributions for the time being, and, by diverting that money to my car instead of my retirement account, I think I can have the car paid off by summer.
Gulp. Here goes nothing.
