In the past we're tried different "plans" to get us going in the right direction, they just don't seem to stick. For a few years now I've heard of Dave Ramsey and how much people loved what he had to say. For some reason I never gave him a second thought. About a month ago I decided to go look through his website to see what he had to say. I was hooked. One of the things I loved is that he reminds you over and over that getting out of debt is not easy! And it is not fast. I hate when I see advertisements to get out of debt fast, I know there is a catch to it.
Right now we are starting with Dave's snowball effect. The first step is to get $1,000 into savings. Seems easy right? Why on earth for us it's a challenge I'll never know. It seems whenever we get a good amount in there an emergency of some sorts comes up and we have to go to dip into savings. I'm praying that we can get through with this step soon. It's driving me crazy. The next step in the snowball effect is paying of debt. This is where are 3 year plan comes into play. We hope to have both our credit cards paid off and to pay my mom back. I also hope to have most of the truck paid off, but I'm not sure if it will happen.
In order to help us even more we are doing the cash to envelopes system. In a way we've been doing this for a long time, just not in the proper organized way. When you sit down and start giving every dollar a "name" you realize just what you are really spending your money on. It's a little sad if you ask me. This coming pay check with be our first time with the cash to envelopes so we're hoping it goes okay. We both know it's going to take a few months to figure out how much to budget for in each category, but we are really determined! There's no reason why we have to carry this debt around with us forever and just add on to it. We'd much rather have financial freedom and no worry.
I know there are a few bloggers who use Dave's methods, so...
What do you think of them? Have they helped you and your family?
9 comments:
I have not heard of this guy...but I'm going to check him out. We also have a mountain of debt and some days I feel like we will never pay it off. It's like a never ending circle. I don't care if it takes us 10 years....as long as I know we have a plan that will get us out of this crazy cycle!
Dave Ramsay is the man! Have you seen his show on Fox Business? I love that he's the first to admit that he screwed up and made stupid mistakes and lost everything. His honesty and empathy is what drew me to him. My husband and I are working on it, too!
You guys are gonna rock this. The first step is realizing you have a problem right? Just stay focused, and committed and you guys will do good. You've already given up TV and realized you don't really need that in your life anyways, so I think like that you'll find lots of the little "necessary" luxuries in life aren't so necessary. Just think of how you'll feel the day you pay off everything. That should be motivation enough. :)
We love Dave Ramsey! We went through his financial peace university and I think it was one of the best things we have done for our marriage! We were in the debt snowball phase but recently some emergencies have come up and wipped out our emergency fund so we too are working on building that up! Its amazing now how safe I feel when we have the emergency fund and how anxious I get when we have to use it! Good luck!
We've not strictly used Dave Ramsey's ideas, but they definitely work. I've read a few of his books and his plans are right on. I hope they work for you.
Good luck, I haven't heard of Dave Ramsay but it takes a lot of courage to come out and say you have a debt issue. Good vibrations being sent your way for financial awesomeness.
I've thought about checking out Dave Ramsey. Sean and I honestly don't have much debt, but we spend WAY too much and I'd like to save more before we have kids.
I'm really, really proud of the two of you!!! Dad still doesn't get it. I think deep down he really believes that because he has checks he always has money... he expects me to make it happen. But as you know, I've struggled with large Credit Card balances and loan payments your whole life, and not always in a pleasant way. Hang in there... after a while it will become a good habit. You are definitely on the right track to taking control, and that is a very good thing!
Love Mom
I will have to check this guy out..sounds interesting!
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