About Mo-MoneyMan!

Welcome to Mo-MoneyMan!

I hope you will find this site a valuable tool to reach your way towards financial freedom.  I’ll talk about our story and how we got out of debt and how to budget and share them with you.

In May of 2015, we paid off about 43K in debt.  That was a combination of home equity loan, credit cards, car notes, and service time purchase through my work.  What made us realized to pay off our debt was after listening to Dave Ramsey. My wife and I became Dave Ramsey avid listener–that’s when we became aware how much debt we really have accumulated for all 12 years of our marriage. His teaching prompted US to take action to the path of being debt free.

Along the way, we managed to save about $41K in taxable investment through our brokerage account (Vanguard) and saving account.  We used this to pay off half our out debt.  While we used the remaining money we had in our savings.  This created a negative cash flow briefly.  We did not have enough money aside in case of emergency.   So we part ways with my Subaru WRX and sold it for $19,600 and some performance parts that I sold separately. This generated another $1000.

We end up buying a used Hyundai for cash ($3000) that we still own.  It was tough decision to make, but once we were committed, it was the best decision ever! This gave us our 6 months of emergency to cover unexpected expenses $30K.  By August 2015, we have a full funded 6 months emergency, eliminating our consumer debt (except our mortgage), but most of all–the first time of our lives, we control our own destiny and comfortable living.

Hyundai GLS 2002 with 194K and counting.