[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? :)

[Comparative Advantage]

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.

[weezel]

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.

[gattaca]

I love Dave Ramsey. I watch him on Fox Business when I can.

[Track9]

“The future ain’t what it used to be” Yogi Berra

[ladyvet]

"The reality is that a vast majority of people spend money on things they don't need. A good example is spending $5 on a latte," he says.

No shiite Sherlock.

[InABunkerUnderSF]

He says if someone has three credit cards at 20, 15 and 12 percent and they also have equity in a house, they may be able to refinance their home and pay off all their consumer debt (the credit cards in this case), while also locking in a lower interest rate on their house for a longer period of time.

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?

[Cold Heat]

Did that in 2009.......

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.

[EVO X]

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..

[KarlInOhio]

Guthrie says much of the bulk of their debt came from their trucking business in the form of property and equipment.

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.

[Gatún(CraigIsaMangoTreeLawyer)]

“Get Out of Debt in 2010”

Get out of the U.S. in 2010...posthaste.

[wally_bert]

Slow go but working on it. I have been in credit counseling for a year and it has bought me some breathing room when things really went south for me over a year ago. Things may actually start improving soon so I can do more than just breathe. It was my own fault and I have learned my lesson.

[gitmo]

Get Out of Debt in 2010

Obama will punish you if you do.

[sr4402]

Lord, please help Delores and Steven Guthrie to get out of Debt because Debt is like Sin. Debt enslaves and strangles just like Sin does. May Delores and Steven Guthrie look to the Lord Jesus Christ and if it be your will, to be FREE!