Jan 3 2015
The first step in unleashing debt jihad is to understand where your money is going. This is best accomplished by creating a Monthly Summary. This is the first weapon in the arsenal of financial freedom.
We began a monthly summary in 2007 shortly after moving back from Japan. We were amazed at how poorly we understood where our money was going until we started capturing it and looking at it through the lense of a holy warrior. Suddenly our enemy’s finger prints could be seen…and of course, the enemy was us! When we looked at the numbers we were actually adding about $65.00/mth onto the credit card debt. Knowledge is power…and applying that knowledge to our monthly finances became very powerful indeed. During the course of debt jihad we went from going $65 further into the hole to paying off $1000 of debt each month.