| Author | Message | ||
     Ratyson |
Are any Badwebbers familiar with Dave Ramsey? (I know at least a couple are, as my search for Dave Ramsey turned up a grand total of 3 posts) We are going through Dave's Financial Peace University through our local church. I have one thing to say... this stuff is totally awesome! Today, I closed out my sears, citibank, and dell accounts. In two months, I will have the Buell paid in full. Within 4 years, with the exception of our mortgage, we will have no debt. This includes a $55k student loan debt. 5 years after that, we will own our home completely... 15 years early (30 year mtg). The feeling I have now after watching this debt snowball in effect is beyond what words can describe. The only regret I have, is that we did not start this 10 years ago. Man... I feel like jumping around! Anyone else follow Dave's plan? | ||
| Hammer71 |
Never heard of it, care to share? PM it to me if ya dont mind. | ||
| Ft_bstrd |
Good program. Common sense stuff mostly. | ||
| Ourdee |
Rat, It is worth it. 12 weeks, one lesson a week 100 bucks total. Take you spouse/whatever with you. I'm free of credit card debt. Try this link for more info. http://www.daveramsey.com/etc/cms/new_to_dave_2926 .htmlc?ictid=new_to_dave | ||
| Ratyson |
We got a 50% off through our church, it only cost us $50! SCORE! We are in week 6 right now. But I would say that it is worth much more than that. Hammer, Dave Ramsey is a great financial planner who's goal is to get folks back on track with their money. He is a helluva motivator too. And quite funny. Ourdee's link is a great place to start. I can tell you that his stuff works, and is completely logical in how it works. When we first looked at his stuff, we didn't think we could do it... but here we are! (Message edited by RATyson on March 05, 2009) | ||
| Riding_tall |
It's a good program and one I need to do. It's all stuff I know. Have a book or two of his and some good stuff from Clark Howard. Trouble is I haven't been doing it. Working on changing that. I Just cut up the CC and Debit cards this week and going with a cash budget. | ||
| Brinnutz |
This is what I need...Some churches have it around here, but not mine... | ||
| Barker |
good stuff, simple but powerful. He has a big compound, finical peace plaza, south of Nashville. Every time I drive by I always think, "I wonder what his payments are?" | ||
| Ratyson |
I believe he own it all. | ||
| Ratyson |
Riding_tall, No need to cut up the debit cards. They don't carry intrest or balances. | ||
| Barker |
dang, that joke went over like a lead balloon. | ||
| Ratyson |
HA. I see what you did there... LOL | ||
| Lonitaylor |
I took the class threw work, and then agian with my daughter threw our church. Once you pay you are lifetime member and take it over and over. My work refunded me the $120 once I completed it so my cost was $0! Thats a score! I even got tickets to see his show (took the daughter) live here in Portland. If you ever get the chance to see his show do it! Keeps you motivated! I often wonder if our kids learned this stuff at and early age what would the US economy would be like in 10-20 yrs? We will be free in 12 months except the house and it feels good to know that. | ||
| Brumbear |
I always follow the golden rule. The who has the GOLD makes the rules. I try to always have the gold. | ||
| Ratyson |
Our daughter is 2 now, and we fully plan on teaching her these things, as well as using his kids plan with her too. I would love to go to one of his shows. | ||
| Barker |
Similar to Dave's book. http://www.hulu.com/watch/1389/saturday-night-live -dont-buy-stuff | ||
| Jumpinjewels |
I used to listen to Dave until they took him off our local radio network. I have found him again tho. He's on 560 am radio in the Denver area I think around the noon time. Haven't done his program cause we'd probably have to sell all our toys. But, were in OK financial shape for the most part. It would be nice to be debt free tho. He definitely goes right to the point. He is great. We only have one credit card and it's almost paid off. Otherwise, we mostly use our debit card. (Message edited by jumpinjewels on March 07, 2009) | ||
| Capital_g |
He is great, have been following him for years. I pay cash for everything and am now really attacking my mortgage. | ||
| Kurbennett |
Dave Ramsey is fantastic. I am currently running an Dave Ramsey FPU class at my Church. I would strongly recommend it for everyone. I too wish I had done it years ago. It has made a hugh difference in my life and the lives of those taking the course. | ||
| Toona |
If your local church doesn't host the FPU course, or you don't attend a local church, I believe the course is offered online. Check out http://www.daveramsey.com for more details. While the online course is good, it's best to do the course meeting with others. The interaction between attendees is very good. Plus, it lets you know that you are not alone. In the class that I attended, we had everyone from everything is paid off and they were looking for retirement planning to just out of college with $100k plus of student loan debt, to single moms with $50K of credit card debt. No one "talked down" to anyone else. About 25% of the attendees were not attendees of our church. A few of the families that weren't attendees, now do because of all the other activities we offer for their kiddo's and parents alike. My FPU testimony is I paid off around 10$ of credit card debt and taxes, paid cash for a $14k car and went on a cruise that year. Granted, my job does well, but w/o this class, I would have gone out and bought a $30k car and financed it, still owe half of the cc debt, and probably not gone on the cruise. Sure is nice not having car and truck payments, credit card payments, and only one mortgage payment, the building for my business. And yeah, on a 15 year fixed rate mortgage, 4 years into it, it will be paid off in another 3 1/2-4 years. Can you say Gazelle intensity? Those in the FPU course will understand the last comment. Toona | ||
| Oldog |
A caution on the cards, do not close all of your credit cards. as Dave R advises, put them up. You can enhance your credit worthiness, and help track your expenses by using a card, I would prefer to just use my debit card but that does not help keep your score up. I took the DR course, best 100$ I have ever spent, I am outa debit and I am trying to save up for a home at some point. the system is set up to force you to maintain some open unsecured credit. buy gas or groceries only with the card. and pay it off every month that will help maintain your score. With out the score IF you need to borrow, the lenders use that as an excuse to gouge you by charging high interest. Too bad that rent and utility paymets dont count against that for credit worthyness. | ||
| Ratyson |
I see where you are coming from Oldog. However, if you set up your savings to where you have 3-6mos (or more) expenses as an emergency fund, are able to make sound investments, and make a good cash flow plan, there should never be a need for borrowing. Granted, you need to do all of these things VERY well, and keep control of them at least weekly to make it work. We can track our expenses just as well without a card. Our plan is to remove the need for credit from our lives completely. It can be done with sound planning and diligence. We plan on buying our next home with cash + current home equity. It will be a while before we are able to do that (another 15 years probably), but that is what we are going to do. Any cars in our future will be bought with cash. This completely removes any need for credit. So, we then have no need for a credit score. (Message edited by ratyson on March 09, 2009) | ||
| Oldog |
Ratyson: If you can earn enough to save significantly its great, I'm single and I live close to my means now. I have to pay for rent and insurance on storage / work space so its tough my margins are slim and erroding. I may have to consider a second job and sadly at 51 its going to be tough to save any appreciable amount. | ||
| Wolfridgerider |
My wife is reading his book. We just paid off our last credit card. We still have the 1st and 2nd mortgage to go.... unfortunately those two are being a pain. I sell building materials for a living and the majority of my income is commission. Take a guess how well that is going now..... | ||
| Kyrocket |
My wife and I took it last year through our church. It really is common sense stuff but the REALLY HARD part is having the focus and will power to put it to work. We are debt free except for the mortgage but we like to eat out and take the kids places too much. We'd probably have the house paid off in five years if we could be a little more observant with what we do with our money. The group we did it with all put what they owed on a piece of paper and put it in a hat. The leader totalled it all up and it was up in the millions of dollars, crazy stuff. |
