Posted on 12/27/2005 7:38:51 AM PST by joesbucks
My wife and I have been looking at the Dave Ramsey Financial Peace program. Anyone here tried it? If so, what were your sucesses and what were the difficulties you had in doing it. We did some traveling over the holidays and listened to one of his books on tape and found it interesting.....but words are always easier than actions. We're ready for some pain to make some gain......but are also looking out for problems we can eitehr avoid or use someone elses wisdom when we encounter them.
My wife did before I met her. She speaks very highly of it.
My financial peace program:
1. Pay cash
2. Budget the luxuries first
3. Never spend a one-dollar bill
"use someone elses wisdom when we encounter them."
I would suggest reading Douglas Andrew - Missed Fortune 101 - and then do it.
Easy - simple - guaranteed.
I like it. I've been saving change for years, but I think I'll move up.
You'll be amazed at how fast the cash piles up. I always switch the ones to another pocket when I get change. My wife calls this vacation money.
It takes a little dicipline, but there are no real "tricks"; you just need to stay financially aware and be patient.
Good Luck and Merry Christmas
In our widening family circle, naughty young people do not find lumps of coal in their stockings. My wife presents them with a copy of Ramsey's latest book.
Those who read the book and get the simple message, seem to gradually recover from their debt distress. They certainly seem happier. Others may need that lump of coal next year.
Like anything else, seems like the main obstacles are first making the decision to act, then following through with discipline. Ramsey provides a method, however simple and intuitive, people can use as a guide to recovery.
Ignore anyone who speaks ill of Ramsey or those who make the decision to break out of their debt.
Good luck.
Yes I highly recommend it.
I've been doing many of the things he recommends for years but recently bought his books and attended his classes. If I would have applied more of his ideas many years ago I would be much farther ahead now.
I liked the classes so much that I paid for my married kids to go and they are now on the right financial track.
Do what he says, follow his classes. You won't regret it.
There are no gimmicks, and it's painful at first to pay off debt and stop living beyond your means (if you are like most people) but the rewards are well worth it.
Become part of the small minority in this country who are completly debt free and are financially independent.
Again, do it. You won't regret it.
http://daveramsey.com/
Yes, it is very good. It's basics, for example:
1. Budget. And stick to budget.
2. Get out of debt (house debt OK). House payment should never be more than 1/4 of takehome.
3. Save up 3 months of money
4. Buy slightly-used cars, when you absolutely need to buy a car
5. Pay cash for everything
Do it. My wife and I have gone through the classes and taught them repeatedly through our church. Simple, common sense approach to personal finance.
Pay cash, avoid debt, invest wisely. All the stuff your grandma did. I can't recommend it highly enough. You won't regret it.
ramsey bump
Dave Ramsey is just common sense, which is in short supply these days. We did a class with him when he was developing his books, 15 or so years ago. We did another one last year. It works if you do it.
When my kids were teenagers, I paid them to read the book. If they actually did a budget, I doubled the pay.
That's not very realistic for folks living in the Boston/Washington corridor or on the West Coast.
The reason our economy is so good is that it's easy to buy stuff with credit.
I recently read a book of Will Rogers sayings from the 20's+30's. Amazingly, he had a bunch of bad things to say about borrowing and credit. Rogers's daily articles were published on the front pages of hundreds of papers. He was one of the most publicized people of his era. My theory is that one of the biggest reasons for the great depression was that people followed his advice, and torpedoed the economy with it.
I have great respect for Rogers, and he certainly was trying to do good, just like Ramsey. But advice that prevents people from spending money, if followed by enough people, is guaranteed to do damage to the economy. Severe damage.
Follow Ramsey's advice, and you'll do better personally. But just hope that not many other people follow it too, or you'll do much worse. Much worse.
Spend less than you earn, eat simply and infrequently, drink lots of water and get plenty of sleep, speak only when spoken to, give praise instead of presents , pull the weeds after the rain and live east of where you work.
Move.
Your tax burden will go down, too.
That's what my Dad taught me.I think he learned it during the 30's.He had the family homestead paid off within 9 years of having bought it despite having a wife and four kids to support.
Man, does it feel good to be debt free and watch my assets go up every paycheck.
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