Gazelling

With gift cards and a little bit of cash I managed to purchase a Gazelle.  No, not the animal, the workout apparatus.  I'd call it a machine, but the only electric part of it is the distance/calorie/time calculator.

I've been trying to get fit, but once the cold weather hit I lost my motivation to work out, aka go for long walks.

I do not look as happy as this lady, but I am at least getting my heart rate up for 15 - 45 minutes a day.

Shortly after I purchased my gazelle NewWife&Mom lent me a book on finances.  Once I started reading it I had to laugh, because throughout the book he talks about working with 'gazelle-like intensity'.  You guessed it, I read "The Total Money Makeover" by Dave Ramsey.

Despite a spattering of Christian scripture I found the advise in the book to be sound.  It is essentially common sense, and he says this, that is difficult to employ because we like to have things.  He leads you through 7 baby steps to help you control your money and eventually build your wealth.

Baby step 1: Build an emergency fund of $1000.  Keep this fund liquid (cash) and ONLY use in case of an emergency.  Wanting a book, dvd, piece of furniture, etc are not emergencies.  He also suggests keeping it on hand, but not easy to access so that you're not tempted to use it for non-emergencies.

Baby step 2: Attack your debt! Have a monthly budget and track every dollar.  Live on the basics (essentials + bills) and use the rest of your money to pay off your debt. Start with the smallest debt and throw money at it until its gone.  When you've finished the first, move on to the next until all of your debts are paid off.  Besides a mortgage, don't borrow, EVER.  He suggests getting rid of all credit cards and using a debit card.

Baby step 3:  Build up a long-term emergency fund.  Save up enough money for 3-6 months living expenses.

Since I don't have a job right now and am not able to work on steps 2 or 3 I'm not going to go over the other steps, but these were the important ideas I took away from this book.  When I manage to get a job again I plan on attacking my student loan debts and budgeting.

Huzzah for free time to read! :-D