Dave Ramsey, debt, credit cards, retirement, etc

[Moondance]

Oh Cha-ase, come here, I've got something for you.

Whack!

I need to update my sig countdown.

We're DEBT-FREE!!!!!! (except the mortgage)

:fing02: Congrats

 

[32vickie]

congratulation. Maybe next year for us. Need to pay off wifes trailblazer
Doug

 

[Snackem]

:arms: :arms: :arms: :woot: :woot: :woot:

Congrats Jet, I'll keep an ear open on Friday. :biggthumpup:

 

[freestylegeek]

FREEDOM!!!

That is incredible Darin! Way to go!

 

[Mile9c1]

Did he beat you Geek? I haven't been following this thread...

 

[freestylegeek]

Did he beat you Geek? I haven't been following this thread...

Uh, yeah. They beat me HARD. I have bruises from it. We're not going to be there for about 7 months. We've got about $6500 left on the student loan. You have no idea how tempting it is to sell my ski and be debt free.

 

[SeaLion]

Good job D! I have caught some of Ramsey's new tv show several times. I have to say that seeing him, I can tell he is a very genuine person and really cares about people and what he does. He comes off as a compassionate, honest person with integrity, great morals and good common sense advice that is easy to understand and implement.

Anyone else catch the tv show? What do you think?

 

[vitaly]

What do you think?

You don't want to know what I think Zoltan! LOL

BTW, congrats Darin! That was your goal and you achieved it! :bananalama:



Disclaimer: I have my own opinions about debt, finances, freedoms, standups, couches, soccer moms in SUVs, castrated chinese made assault rifles in the closet, and lots of other stuff. I don't encourage a reader of this forum to agree or disagree with my opinions in any way.

 

[SuperJETT]

Thanks everyone, it's pretty cool knowing that if something happened to my job I could pick up a couple of part time jobs to cover our monthly expenses + mortgage pretty easily.

Next step is saving up 3-6 months of expenses for our fully funded emergency fund, we're doing 6.

It's taken 22-1/2 months to do it, but we paid off $29,776.47 in that time, with 3 kids at home and me the only income. That's over $1300/month average, well over our $1006/month mortgage payment. Mindy works at a Parents Day Out program 8 hours/week during the school year, and works at raising our 3 kids the rest of the time so that's a full time job plus some.

2 years ago we were pulling out of savings every month just to get by, with 2 car payments totalling $540/month plus a home equity line payment.

THIS ROCKS!!!

 

[Mark44]

That is a great feeling Jett I have always been dept free and it is nice to know I could work at Home Depot just for health insurance part time and still live quite well. I have my parents to thank for this in teaching me the importance to save for the future and a load of cash in mutual funds really helps.

Mark44

 

[douglee25]

Thanks everyone, it's pretty cool knowing that if something happened to my job I could pick up a couple of part time jobs to cover our monthly expenses + mortgage pretty easily.

Next step is saving up 3-6 months of expenses for our fully funded emergency fund, we're doing 6.

It's taken 22-1/2 months to do it, but we paid off $29,776.47 in that time, with 3 kids at home and me the only income. That's over $1300/month average, well over our $1006/month mortgage payment. Mindy works at a Parents Day Out program 8 hours/week during the school year, and works at raising our 3 kids the rest of the time so that's a full time job plus some.

2 years ago we were pulling out of savings every month just to get by, with 2 car payments totalling $540/month plus a home equity line payment.

THIS ROCKS!!!

Congrats Darin! So what was your $300/month extra going to over the 22 1/2 months?

Doug

 

[SuperJETT]

Congrats Darin! So what was your $300/month extra going to over the 22 1/2 months?

Doug

You misunderstood/I didn't make it clear, it was $1300 OVER the $1000 mortgage, so we were averaged $2300/month on debt.

12/15/2005 - started Dave Ramsey's plan

12/20/2005 - I traded my 2003 Honda Element in and got a 2000 Honda Accord, that knocked $2400 out right off the bat.

2/14/2006 - We paid off our 2001 Chrysler Town&Country minivan.

5/22/2006 - Paid off the Accord.

5/2006 (not sure the day) - transferred our home equity line which was variable interest rate/interest only to a 5.99% fixed on our Chase card.

10/30/2007 - Paid off the Home Equity Line balance that was on the Chase account.

In the process, we still had the girls in gymnastics, we still went out to eat, I still jetskied/went to freerides, my wife still scrapbooked/went on trips, we went on trips together, etc., etc.

Having a budget works. Having a plan works.

We wish we could have woken up about 10 years ago or more, but you know, you gotta start where you are and go from there so we did.

 

[thrllskr]

Congrats - I listen to him on XM a few times a week. I'm waiting for Darin from Louisville to call in!

I've been following his plan for about a year but I have to admit that I'm not as dedicated as I should be but I am making good progress. Of course, an engagement ring and wedding don't help...

 

[douglee25]

You misunderstood/I didn't make it clear, it was $1300 OVER the $1000 mortgage, so we were averaged $2300/month on debt.

12/15/2005 - started Dave Ramsey's plan

12/20/2005 - I traded my 2003 Honda Element in and got a 2000 Honda Accord, that knocked $2400 out right off the bat.

2/14/2006 - We paid off our 2001 Chrysler Town&Country minivan.

5/22/2006 - Paid off the Accord.

5/2006 (not sure the day) - transferred our home equity line which was variable interest rate/interest only to a 5.99% fixed on our Chase card.

10/30/2007 - Paid off the Home Equity Line balance that was on the Chase account.

In the process, we still had the girls in gymnastics, we still went out to eat, I still jetskied/went to freerides, my wife still scrapbooked/went on trips, we went on trips together, etc., etc.

Having a budget works. Having a plan works.

We wish we could have woken up about 10 years ago or more, but you know, you gotta start where you are and go from there so we did.

Ahhh, ok that makes more sense. That's so awesome. Must feel good. I will be there shortly.

Doug

 

[SuperJETT]

If you want to see our debt-free scream on Dave's show on Fox Business, here it is.
http://www.superjett.com/Photos/debtfreescream.wmv
26.5Mb or so, thanks to sjweber for tivo'ing/copying it for me.

 

[douglee25]

Good clip there Darin. Awesome dedication for you and your wife to do that.

Doug

 

[onesojourner]

Congrats man thats awesome. We are a solid year out from that still.

 

[SuperJETT]

Wow, this is what happens when you stop using a credit card, don't they sound desparate? (this wasn't sent to us)

 

[Emm]

Hey Darin....just watched the clip....I am proud of you guys!!!

We were on Dave's plan until moving to Florida...and then it all went to crap..haha...BUT now that we are moving and getting on a boat (soon we hope) we are going to be paying off a ton of stuff. :cheer2:

 

[Scraggly]

Hey Darin....just watched the clip....I am proud of you guys!!!

:cheer2:

x2 thats awesome guys, i hope to go on a lean spending budget after the first