Debt on Hold? Is that Possible?

Yes, it is.

We are still paying on our debt (of course), but we are not paying extra right now.

As you may or may not know, my family and I have accepted a job in Nashville, Tennessee, and will be moving at the end of March. We have all-but sold our house (it still has be be inspected, but we haven't had any large cracks in the walls or large mice crawling around), and have had an offer accepted on a house near Nashville (Hermitage, Tennessee, if you are keeping score at home).

With all the extras that come up in moving, we have decided to put away money for the move--just to be on the safe side. We have really been blessed in that we will have zero closing costs on either end of the house selling, and the congregation where we are moving is paying for our move (unless we can't get a decent estimate). So we should not have any major costs.

However, there are always little things that pop up in a move, and we know that. So, for the time being, we are saving up cash for "moving costs." We won't spend the money unless we absolutely have to, but we want to have it ready in case it is needed. It is serving almost like a "moving emergency fund."

But then...

whatever we don't spend?

Straight to debt!

Our August Goals

Amanda and I took some steps backward financially when we made the move from our apartment into the church-owned house last month. For us, August will be an opportunity to get back on track and essentially re-build some things:


1. Use only cash for purchases. Exceptions include: gas (card), contribution (check), and bills (online and checks). We have done this before with success; the emotional connection to cash helps us make much better decisions.

2. Keep track of every single penny spent. This is something we have attempted to do on several occasions, but have not completed it to satisfaction. Our regular expenditures have changed some with the move, so we need to re-evaluate what all is currently going out.

3. "Pay ourselves" $50 a week. We have a long way to go with our savings goals. It has been several months since we have saved like we are capable (and need to).

WYTI Links: 06.25.2007

I'm glad to be back from a week in Ohio--although I'm not sure a youth trip could have possibly went better than this one did (I was gonna post from the hotel, but the wireless network was down. That's not necessarily a bad thing, though.).

Here are some Monday links:

• How to Start a Roth IRA (and Where to Do It) Planning for retirement personally is an absolute must for a preacher. This might be the best summary of the Roth IRA option (one of several options). Personally, I anticipate opening a Roth IRA in the next several months. (via Get Rich Slowly)
  
• What to Discuss Before You Get Married Might be helpful in your "Marriage Counseling" file. (via Dual Incomes No Kids)
• Ten Things to Do When You Move Into a New Home This is self-driven; Lord willing, we should be in the preacher's house by the end of the week. (via The Simple Dollar)
• Mom and Dad, Your Financial Decisions Matter Financial stewardship is certainly one of those areas parents are expected to train their children. (via Wisebread)
• And in honor of the release of the iPhone next week...Apple's New iPhone (via The Onion)