Dave Ramsey, debt, credit cards, retirement, etc
- Thread starter SuperJETT
- Start date
Jamie, don't let those old tools fool you... LOL
Invest the money into a business and write off the expenses. You want to be rich like your dad, so listen to him. Make you bank's money work for you, don't make your money work for the government. As the end result you are going to make more money and contribute more in taxes and other expenses for the country than the other 90% of the population, while maintaining the wellbeing. Don't forget to support our troops (BTW, IRS, as our government body fails miserably, you can do much better job on your own than the IRS!)
The mortgage is not your enemy. I've been paying it for the last few year, yeah, it's tough with our lifestyle, but it allows you to invest even more, just think about it (a hint: your bank will gladly give you nine dollars for the dollar you invest into a business or commercial real estate, and it will laugh at you if you ask for the "fund", "stock market", or any kind of pension investment.)... :sneaky:
Under $4000 left (except the house) now, and just paid cash to have a new patio door put in, $2060 for that.
I'm going to be leading a Financial Peace University class this fall at church, that's going to be interesting because we'llfinish off our last debt about when it starts.
I'm going to be leading a Financial Peace University class this fall at church, that's going to be interesting because we'llfinish off our last debt about when it starts.
Mile9c1
X-H2O.com
- Location
- Grand Rapids, MI
Damn, that must feel good. I'm looking forward to you calling in :biggthumpup:
- Location
- Cleveland Ohio
:hail::hail:Sweet, spread the knowledge. :hail::hail:I am almost done with my Credit Cards and now I am moving in with my Girlfriend (will save us both a lot of $). Hers are next... :banghead:
douglee25
m3booooy
- Location
- South Jersey
This all happened yesterday.....
So I paid off my credit cards totally about 2 - 3 months ago. I've been working on building my reserve fund and getting through the summer. On the way to work yesterday I had a blow out on the bimmer. Since I can't drive on the full size spare forever, I'm forced to make QTY. 4 tire purchase (which I thought I could put off till the end of summer). $500 later, I have a new set of tires. Of course I don't have the spare cash laying around so I threw it on my credit card. No biggie right? Then to add insult to injury, I'm traveling to a graduation event that night. On the way, everytime I pushed in the clutch, it felt very notchy. It got worse and worse on the last 2 miles until I parked it. Now I'm looking at a new clutch. Fortunately, I already had the clutch kit for the past three years (I've been running on borrowed time) so I figured I'd just have to pay for labor. I called for pricing to find out I would need to shell out $600!!!! Ouch! Looks like I'm going to attempt the job myself. What a day!
Doug
So I paid off my credit cards totally about 2 - 3 months ago. I've been working on building my reserve fund and getting through the summer. On the way to work yesterday I had a blow out on the bimmer. Since I can't drive on the full size spare forever, I'm forced to make QTY. 4 tire purchase (which I thought I could put off till the end of summer). $500 later, I have a new set of tires. Of course I don't have the spare cash laying around so I threw it on my credit card. No biggie right? Then to add insult to injury, I'm traveling to a graduation event that night. On the way, everytime I pushed in the clutch, it felt very notchy. It got worse and worse on the last 2 miles until I parked it. Now I'm looking at a new clutch. Fortunately, I already had the clutch kit for the past three years (I've been running on borrowed time) so I figured I'd just have to pay for labor. I called for pricing to find out I would need to shell out $600!!!! Ouch! Looks like I'm going to attempt the job myself. What a day!
Doug
32vickie
X-
- Location
- Pipersville, PA
don't get down Doug, just think if you still had all of your other debt and that happened. you would have been paying the interest for much longer. Now you get to learn how to put a clutch in.
Doug
Doug
Exactly, we had a few setbacks like the new patio door, but we were able to pay cash for it instead of charging it. It seems like we also had a month or two where we had to make minimum payments instead of attacking because of other stuff, but it's better than just charging it and saying 'we'll get that later' like we used to.
I'd say the really good news is that you are upset that you will be using the credit card. I know that for me there was a time when if something happened and I had to put it on my credit card or get a personal loan from the bank it was no biggie. In fact I used to think "Hey this is a great chance to build my credit."
On another note it's amazing how many fewer "emergencies" I have now that I am debt free with an emergency fund. Stuff still happens but when it does I almost don't even notice it because I can just pay for it.
On another note it's amazing how many fewer "emergencies" I have now that I am debt free with an emergency fund. Stuff still happens but when it does I almost don't even notice it because I can just pay for it.
douglee25
m3booooy
- Location
- South Jersey
All good posts above. I feel somewhat better today after I've put it in perspective. I guess you just roll with the punches. The plus side is, hopefully in another week or so I'll have a brand new clutch with a bunch of other preventative maintenance items complete at the same time and a new set of tires. I should be good to go with that vehicle for a while.
Doug
Doug
Moondance
Just plain me....
- Location
- Ridin' the Crazy Train
I had been halfway watching your countdown. Did it get accelerated? You guys are doing awesome. I work with a girl who has followed Ramsey fairly closely. She has done wonders getting herself out of debt due to medical bills & is really doing well with attacking other debt as well.
Yeah, I had it set to by the end of the year, I changed it recently to end of September I think. I'm hoping for end of August though.
It will feel soo nice to bump my 401k back up - sitting at 1% with 1% match, minimum to keep me enrolled - and fund Roths for us for the first time.
But you still have to pay property taxes, right? :sneaky:
Moondance
Just plain me....
- Location
- Ridin' the Crazy Train
Those are recurring expenses, just like food, gas, insurance, etc. - not debt that will eventually be paid off.
SeaLion
Jet Ski Junkie
Yeah, the recurring word is so perfect. Hey not bad for paying off a mortgage in 2 years and 11 months. I did get a steal on the property and it gets used very often. Not to mention ,it more than doubled in value and that is at todays market. It was up 2 1/2 times last year but has pulled back some to the current 2 times value.