Dave Ramsey, debt, credit cards, retirement, etc

[SuperJETT]

NICE!!! :arms: :arms: You guys are on fire!!!:cheer: :cheer: You'll be debt free in 6 months or less!!!!:woot: :woot:

Well, not really, I'd love to but we had some 'help' at first, in the form of downgrading my car ($2400 off the top), my mother-in-law was living with us and paying rent for the first 4 months, and bonuses.

Our realistic goal is to be debt-free in 2007. That is completely doable, it's just which month do we do it.

 

[Snackem]

You wait and see once you get on a roll 'something' will come along that you did not expect, a raise, or some other sort of increased income an you'll be out of debt before you know it.

 

[onesojourner]

right now I have 5-6k for retirement and I was debt free (other than my house) until the leg thing and thats about 26k. I am 23 right now.

 

[FL-cracker]

Sucks about your leg man.

 

[Snackem]

That's pretty good for your age. Most people our age are not even thinking about retirement or debt. What happened to you leg man? I must have missed that. Keep up the good work though and you'll be back on top of things in no time. Just remember to make your money work for you and not the other way around.

 

[jetskiier]

Does anyone know some good websites to read about all this? I've read the 'Rich Dad Poor Dad', and am reading on real estate investing, but if there was a website similar to this thread that would be great. I like to see everyones opinion, and its very easy to read.

 

[Snackem]

Go to www.daveramsey.com or www.crown.org
Both are Very Good.

 

[romack991]

Just an FYI, Im halfway through the book now and it has some very good basic concepts. It isn't complicated formulas, just basic spending habits that would seem common sense but aren't in most people's mind. So far I'd definitely recommend it.

Oh and you dont have to buy the book, I just went and got a library card and checked it out.

 

[SuperJETT]

Just an FYI, Im halfway through the book now and it has some very good basic concepts. It isn't complicated formulas, just basic spending habits that would seem common sense but aren't in most people's mind. So far I'd definitely recommend it.

Oh and you dont have to buy the book, I just went and got a library card and checked it out.

Bingo, it's basic concepts, but most people don't have the discipline to do it. Dave lets people see the other end so you get motivated to do it.

Our first big things were paying off the cars, next will be the home equity line next year, then fully funding the emergency fund, then settling in to funding retirement, college funds, and killing the mortgage.

 

[Snackem]

Just an FYI, Im halfway through the book now and it has some very good basic concepts. It isn't complicated formulas, just basic spending habits that would seem common sense but aren't in most people's mind. So far I'd definitely recommend it.

Oh and you dont have to buy the book, I just went and got a library card and checked it out.

Yeah the principals are suprisingly simple. But it's amazing how many people just don't get it or have never thought of it.

 

[freestylegeek]

Yeah the principals are suprisingly simple. But it's amazing how many people just don't get it or have never thought of it.

Actually, it's not amazing.
The credit companies dump soooo much money into brainwashing that most peope are no longer capable of thinking of a different way. You're viewed as 'wierd' if you don't "follow the crowd".

I love the way it feels when you go into a store with C-A-S-H, and get exactly what you want for what you wanted to spend.

 

[Snackem]

Actually, it's not amazing.
The credit companies dump soooo much money into brainwashing that most peope are no longer capable of thinking of a different way. You're viewed as 'wierd' if you don't "follow the crowd".

I love the way it feels when you go into a store with C-A-S-H, and get exactly what you want for what you wanted to spend.

Yeah that's true I know that in my speech class I gave a "Speech To Convience" about getting and staying out of debt. My prof. ridiculed me for the notion. How will you build credit without getting some debt? I guess that she did not hear the two minute section in my speech about how you don't need credit. All the students just looked at me and said "What about student loans and emergencies?" It was like I was spewing a vile hateful speech. They did not even imagine that you could live without debt.

 

[32vickie]

I like romack991 idea the best "Oh and you dont have to buy the book, I just went and got a library card and checked it out." wow i could have saved $16. But then again my wife would not be able to read it. she is still on chapter 2 for three weeks.

 

[romack991]

even though i pay off my credit card every month, its now out of my wallet. you do spend more when you just swipe a card instead of handing out cash. i guess i'll trade the spending rewards for less money spent.

 

[onesojourner]

That's pretty good for your age. Most people our age are not even thinking about retirement or debt. What happened to you leg man? I must have missed that. Keep up the good work though and you'll be back on top of things in no time. Just remember to make your money work for you and not the other way around.

I shattered my femure when I was on vacation with my lady last april. insurance is refusing to pay for the plane ride home.

here is the original post
http://x-h2o.com/showthread.php?t=2824&highlight=there+goes+my+summer

 

[michael950]

I bought Apple at $49.78

(whish I had done it last year when I thought about buying it - it was $35/share.)


Looking to attend FPU. Dave Ramsey Rocks!

Update. Sold at $81.92. Wish I had invested a lot more than what I had to net more cash. $32/share is not bad.

Now about that debt.

 

[michael950]

I skimmed 30% and read 70% of this thread, but heard no mention of FPU.

Has anyone attended or purchased the kit?

 

[SuperJETT]

Maybe I should rename this thread FPU on the X.

We've thought about attending one, but we already have the determination/motivation and freestylegeek and his wife are kind of our accountability partners. We're actually racing to see who gets out of debt first. I think it will be them, but we're trying.

 

[michael950]

Maybe I should rename this thread FPU on the X.

We've thought about attending one, but we already have the determination/motivation and freestylegeek and his wife are kind of our accountability partners. We're actually racing to see who gets out of debt first. I think it will be them, but we're trying.

My #1 priority after I graduate will be to take control of the finances and get us out of debt. My wife is the accountant, but I have more of the finance perspective (investments and such).

I would like to know if the FPU is better to do in a class or self paced DVD package (not draw it out in what 14 weeks).

 

[kingnothing3]

K Well im 21, until I was 18 I always spent less than what I had. When I was 18 I bought a house and 7 acres. ( should say that I work ALOT 50-80 hours a week depending on time of year.) I rented the house and front garage out to a family to help with the payments. I still live at home. Right now its my only debt. But my parents just gave me 2 months to move out(2months ends nov. 30th.) So I am now planning on moving into the house, paying full payment, paying for food, insurance, taxes, and all living exspenses. Its going to suck.
Also need to buy a new truck very soon.
No 401k through work or anything going toward retirement. maybe its because im young but I agree with Nick. Live for today. Noone knows if they are ever going to make it to retirement so why worry about it now? All you really need is good health insurance and a little extra money saved up.(should take my own advise but im spending my saved money on a new ski:banghead: )