Posted on 01/03/2010 7:56:09 AM PST by Diana in Wisconsin
Dave Ramsey Ping! Let’s live like no one else in 2010 so we can live like no one else all the sooner, shall we? :)
Keep dreamin’, LOL!
However - take some time and look over your finances and see what you can do to keep YOUR money out of the hands of Government.
I say, ‘Starve the Beast’! :)
Dave Ramsey is saving the financial lives of many people across this country. My family is only carrying a home mortgage debt and we hope to pay that off soon. When interest rates begin to spike up, those carrying all of that credit card debt are going to get hammered.
Us, too. I have a little bit to go on a cc, but then it’s just our (very manageable) mortgage on our farm. Of course, the car and truck will die soon thereafter; Murphy’s Law, but we’ll be able to buy two used vehicles with cash if all goes well.
I’ll be 50 this year, and hope to be out of the work force at 55. Of course, I’ll still ‘work’ but for myself and no one else. Husband is already self-employed and loving it.
It’s looking good, despite the economic times we are in. :)
TOO LATE!! For me at least. When dim-0s won the congress in ‘06, I sold out and paid off everything, cause I figured the bottom was gonna fall out.
I love Dave Ramsey. I watch him on Fox Business when I can.
Good luck! http://www.usdebtclock.org/
“The future ain’t what it used to be” Yogi Berra
No shiite Sherlock.
Institutionalizing your debt only works if you NEVER rack up a credit card balance again. I've seen so many people "pay off their credit cards" by taking equity out of their homes then start using the cards and making the "minimum payment" (AKA maximum profit for the card company) the very next month.
BTW, why would someone need more than one credit card?
Debt free! Even the house and cars.
I owe nothin to nobody........(and I'm rat holeing canned goods and ammo)
2010 is not going to be pretty, IMHO.
A most excellent strategy. :)
Good for you! I’m bringing up the rear, LOL!
I would say people should strive to have 9 mos to a year in cash on hand. Cookie cutter conventional wisdom was 3 mos to 6 mos before the SHTF. I remember some lively threads were it was suggested people didn’t need cash savings. Just tap your home equity or raid your 401K..
They pointed out part of the basics of Dave Ramsey’s plan, and then quoted someone else saying to refi unsecured debt with your home.
Dave doesn’t advise that. CON-solidation is a trap for 90% of borrowers - and Dave points that out.
Personal finances are personal. It’s not shaving a few interest points that makes the difference. It’s getting on a written budget and taking control of your money that does.
LOL! This morning I’m ‘splurging’ on Dunkin Donuts-brand coffee from the grocery store, made here at home.
One thing I will NOT give up is my flavored coffee creamer, though. That’s one thing I’m willing to spend $150.00 on each year...
Wait a minute! I spend $150.00 a year just for coffee creamer?!?!? I’m working on it! I’m working on it, LOL!
(I’ll work to wean myself off of it in 2010.)
Was the business prospering and using the equipment to make money sufficient to pay for the equipment, repairs and any salaries? In that case the debt wasn't bad and should be considered differently than money spent on a big screen TV or a swimming pool.
Well, looky here! I found a solution to my problem in about 2 minutes. I love the WWW! :)
http://www.associatedcontent.com/article/435431/make_your_own_flavored_liquid_coffee.html?cat=22
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