Quote: Originally Posted by TAHOEJENI Morgan - can you explain a little bit more about what it is that you don't like about Dave Ramsey?
My FI and I are Dave Ramsey junkies. There's a marker board on our fridge. In big black letters it states a few of his most said sayings
Live like no one else now, so you can live like no one else later
An emergency fund turns a crisis into an inconvenience
Debt is dumb, cash is king. The paid off home mortgage has taken the place of the BMW as the status symbol of America.
I'm 33 and contemplated bankruptcy about 5 years ago. I didn't and decided to get serious about debt. I moved into a less expensive studio apartment for two years and paid off debts. I wish I had found Dave back then as I would be debt free now. As is, 2009 I will pay the last $8000 off that lingers over my head and kick Sallie Mae out of the house 11 years early on a 15 year loan!
I don't mean to drag my soapbox out (especially on a wedding forum) but getting out of debt is definitely a lifestyle change as is losing weight.
Dave will tell you to SELL THE CAR right off the bat. How many people out there are making less than $30,000 and are driving $20.000 cars. Car debt alone eats up a bunch of your money.
My FI and I bought a house this past April and we did a 15 year mortgage just like Dave recommends. I drive a 13 year old car with over 200,000 miles on it and it looks like crap but guess what, it's paid for! Dave suggests picking up a second job to help pay off debt. I didn't want to be locked into certain hours so I became a mystery shopper instead. I pick my schedule and it's the only time we go out to eat. This week we've got a Texas Roadhouse and Applebees scheduled. lol
We religiously stick to a written budget. After it gets a little warmer, I plan to park the car and start riding my bike to work more consistently (20 mile round trip) and no, there's no bike trails here in Cincinnati. It's all roads.
Whew - got a little long.
My advice - get a gameplan and stick to it. Doesn't matter if it's Dave's, Suze's, or your own! Congrats on facing your debt. Tahoe, have you been through Financial Peace University? Do you follow all of Dave Ramseys methods? How do you do your monthly budget? You can PM or email me if that is getting too personal.