Jan 16, 2014
#141: Before starting our debt-free journey we had $176,000 in retirement accounts but our net worth was only $74,000.
What’s the secret that doubled our net worth in 8 years?
We followed Dave Ramsey’s advice:
- We got on a budget
- We stopped borrowing money
- We paid off all of our consumer debt
- We put 3 months worth of expenses in emergency savings
- We increased our retirement contributions once we got out of debt
- Our plan has us saving for our daughter’s future at least six more years
- We continue to pay down our mortgage and put money aside for car replacement, new windows, etc.
Find the full show notes at https://moneyplansos.com/how-we-doubled-our-net-worth-and-you-can-too