Sallie & Perkins: What We've Been Up To


Greetings, friends!! It's been quite a while since we've stopped by LFF but it's because we have been BUSY! After being stuck on Baby Step #2 for soooooo long, it's amazing how fast we've been able to accelerate through the next few steps. We are really beginning to see the impact of the sacrifices we've made in the past couple of years. Let's catch you all up, shall we?

We saved up 3-6 months living expenses to check off Baby Step #3. This honestly didn't take much time at all. Now that we weren't making mega-payments on our loans, we had plenty of extra cash to put away into a savings account we won't touch. It was hard at first to see that chunk of money sitting in our bank without being able to "use" it, but it's ultimately there for any large emergencies like home/auto repairs, the loss of a job, unexpected medical bills, etc. It's comforting to know that we have real cash to use if/when we needed it, not a credit card!

We upped our 401k contributions. Everyone has different opinions on this, but here is ours. While working on our student loan payoff, we stopped contributing to our 401ks for a short time. Sure, it felt like we were missing out on "free money" from our company match, but we had a plan. The day after we made that last student loan payment? We started putting in 15% of our paychecks to our 401k to complete Baby Step #4. Um, that's a lot!!! We knew we'd have the freedom to save/invest more now that our debt was gone, so we didn't waste any time getting started.

We almost refinanced our house, but ultimately decided it wasn't the right path for us. Due to the type of mortgage we have, the amount of time left on our mortgage and the short amount of time we hope/plan to stay in this home, it didn't make that much sense to go through the entire refinancing process. Instead? We're going to work on making extra payments toward the principle each month. Although there are 26 years left on our loan- we hope to have our home paid off in 5 years or less. It's a huge goal, but we aren't planning to live "broke" like we did with our student loans. While we aren't going to be quite as aggressive, it's our main focus nonetheless.

And finally- we've been reading up on additional sources of income and how we can keep on moving forward in life. There are tons of options out there to made side income and it's just a matter of finding what works for us. For instance, my friends over at The Penny Hoarder just shared a great article about house sitting jobs and it's officially on our list of must-check-out now- there's never too many side gigs a person can have! We've also been keeping up with our Swagbucks and you should too. It's FREE money and if you've got a little time each day, you can rack 'em up too. If you want some tips and tricks on how we earn the most SB we can each day, let me know!

When you are in the right place financially, you can pursue anything you want- there is no burden of debt, there is nothing stopping you, the world is truly YOURS! Perkins is busy looking into the world of health/fitness possibilities... He wants to exercise his brain AND his muscles ;) Sallie, on the other hand, is elbows deep doing her research in the world of freelance writing.



So now that you know what we've been up to- let's hear from you! What steps have you taken in 2015 to get your finances in line? Where are you at in the process? We're all on the journey together, no matter what stage you're at! Financial freedom is real and attainable! :) We believe in you!!!

27 comments

  1. So happy you guys whizzed pass baby step 3. We are currently on 4, 5 & 6. Plugging away on our mortgage is not easy and it seems like FOREVER away to pay that dang thing off...but I know we will get there eventually. I've been meaning to do a 'debt free update' since I have posted since we finished baby step #2. I started Swagbucks back when you first mentioned it...need to do it again. Every little bit counts, right!?!?

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  2. Ya'll have done an awesome job at this!! I've said it before, and I'll say it again, thank you for being a huge source of inspiration for paying off debt. My husband and I have been intentionally (and successfully) paying down our debts. We're already way ahead of our debt payoff schedule, and it feels so good!

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  3. Yay Sally and Perkins are back! :) Sounds like you guys are doing AMAZING with your goals! Right now our main focus is sticking to our monthly budget and credit card debt (Ugh!) and then it will be student loans. We have a long way to go but we're trying to just do our best and stay consistent!

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  4. You inspire me friend!!! :) We're working on baby step 3 right now, and it's going a little slower than it probably could because of all of the unforseen house expenses we had with our renovation (we had a crummy inspector... it's a long story...) but I just e-mailed Joe and told him that I'm inspired to get our butts in gear!! For a few dreams he has and future plans, we really need to get our savings bulked up quickly so that it's there to use if we need it when these things happen.

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  5. For the last 3 years we've been saving up for a down payment on a house. We want to have at least 20% to put down, and so it took a while. Now that we're done (yay!) we are working on our 3-6 months of living expenses. We contribute 5% to an IRA right now. It's really overwhelming to think about money stuff, and it's hard because I start comparing our salaries to other people and how long in comparison it's taking us to save than it is for some people, but I am thankful Jordan and I are on the sw page as far as saving goes. That can be a huge problem for a lot of couples. We'll get there!

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  6. WAY to go, S&P!!!! Keep it up!

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  7. Great job! I finally got one of my credit cards paid off this month & starting next month that payment is going on to my smallest student loan so that I can get that one paid off quicker. I've also been doing the 52 week money challenge so in October (when mine ends) I'll have that to put on some type of debt as well. I was using swagbucks for awhile but stopped...I should really get back on that...

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  8. I do not understand Swagbucks at all (therefore don't utilize it's full potential, I'm sure) - Sallie & Perkins, please share your expertise!

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  9. WHOA!!! You guys are absolutely killing it in the finance realm! I love that you're still making huge steps for your future, but also allowing yourself to enjoy the now a little more now that your student loans are done. 15% in your 401k is AWESOME! You're going to be sitting pretty when you're retired and it inspires me to really sit down and talk about our finances with my fiance.

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  10. You guys are still killing it! We need more household expense savings than we have right now - January through March is always a low savings period for us because it's a slower period in MFD's business.

    We consolidated the last of our debt to a lower interest rate and committed to paying a higher payment on that each month. I've been doubling or close to doubling car payments every month, and a no-spend February helped me mosey on over to that. We are charging things strategically to maximize frequent flyer miles for upcoming trips, hoping to get free or upgraded tickets.

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  11. HAha. You guys are adorable - too cute and SO adult!

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  12. If saving for an amazing retirement is wrong...WE DONT WANT TO BE RIGHT!!! ;) thanks for always inspiring us, guys!

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  13. EXPLAIN SWAGBUCKS TO ME! A friend convinced me to sign up, so I did, but I have absolutely no idea what I'm doing! I know I'm missing out on so much because I simply don't have a clue what to do. I need baby steps! Also, you guys are amazing. Seriously so inspiring how you're getting out of debt!

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  14. I love Sallie and Perkins!!!! I would love a post on swagbucks. I use it but I only get 1 maybe 2 amazon gift cards a month. I need some tips from Sallie!!

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  15. I love Sallie and Perkins and am so glad they stopped by for an update. :) Each year I tell our household that we are going to get out of debt this year, but honestly it hasn't happened. But this year, I feel as though it will. We just had our first baby and we want more and they are expensive. Having debt on top of a growing household is not fun. So we are currently working on paying off our debt. We do own our home so we have quiet a big debt ratio, but we have figured out a plan and will be cutting the majority of it out by the end of summer I am hoping.

    Thanks for the encouraging words! :)

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  16. I'm so glad Sallie and Perkins are back! I missed them! I paid off the smallest of my loans and are working on my debt snowball. My goal is to be completely debt-free by 2017!

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  17. You guys are such an inspiration in the financial department! We are on a plan to get our debt paid off. I would love to hear all about your Swagbucks tips! I do a few things each day, but not nearly the amount of points that most people get! Spill all your secrets!

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  18. You are such a savings rock star!! That 401k thing is huge. You should look into direct sales. For either you or Jarred. I have loved doing it so far!!

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  19. You guys are planning to pay off your house in 5 years?! That's amazing! Our finances are so all over the place...we had jobs and retirement accounts and we bought a house...now we only have one income, we're paying for school (out of pocket, no loans yay!), and we want to sell our house. We're seriously going backwards instead of forward, haha! We DO have about 4 or 5 months worth of emergency money that we don't touch, so at least there's that? You guys are inspiring, as always!

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  20. Wow! You guys are superstars! Inspiring to see that paying off debt wasn't the end for you guys.

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  21. Love reading about your financial success stories- it's encouraging when our situation feels totally hopeless. The debt thing is going to take us a loooong time to conquer, but I keep trying to remind myself how good it will feel when our hard work pays off!

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  22. I am seriously so proud of you guys, and in awe at how much you've accomplished!! Keep it going !:)

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  23. Yay, I missed you guys :) So excited for you!

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  24. That's amazing, congratulations! :) It's got to be such a great feeling. And that's awesome about freelance writing, it's definitely something I'm interested in as well and I just bought the writer's market a few weeks ago! haha :)

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  25. Gosh these posts are SO motivating to me! I need to get my butt in gear with my debt.

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  26. Yay!!! I have missed S&P. I am just in awe of what the 2 of you have accomplished in the past 2 years! Your dedication and sacrifices are paying off in a major way (pun intended). Seeing your success makes me so excited to begin our total money makeover!

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  27. this is so great! I love dave ramsey!!

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