Anyone here do the Dave Ramsey thing?

[jkaetz]

I still have credit cards and a mortgage. The biggest change occurred when we made the decision to never pay another penny of credit card interest. We never carry a balance (unless it's at 0%). We do use our cards (we each have our own separate cards and I have a card for business only use) and we pay their balance in full every month - no matter how much it hurts.

So for the past couple of years or so we've paid NO credit card interest. The only debt we have left is our mortgage and a car loan. The value of both outweigh their principal balances. The car will be paid off in June and we have no plans to "run out and buy another one" until the wheels fall off one of the ones we already own.

This is pretty much how we operate. No interest. The second half of that is when using credit, be sure you're only buying something you'd have saved the $$ for in the first place. Don't use 0% interest credit just because it's available, use it because you were saving $$ to buy something anyway but now you can get it slightly sooner. This of course can be easily abused and needs a lot of self discipline.

 

[stormryder]

I am proud to say on August 2018 I will be CC, and car loan free.
My mistake was having 5 CCs over the course of 10 years and got over my head over that time.
After the CC and loan is paid off, I will continue to pay ahead on my mortgage(used tax return to pay 6 months ahead) and NEVER get another CC again.

 

[hog slayer]

I am proud to say on August 2018 I will be CC, and car loan free.
My mistake was having 5 CCs over the course of 10 years and got over my head over that time.
After the CC and loan is paid off, I will continue to pay ahead on my mortgage(used tax return to pay 6 months ahead) and NEVER get another CC again.

congratulations!

 

[spencer rifle]

I am proud to say on August 2018 I will be CC, and car loan free.
My mistake was having 5 CCs over the course of 10 years and got over my head over that time.
After the CC and loan is paid off, I will continue to pay ahead on my mortgage(used tax return to pay 6 months ahead) and NEVER get another CC again.

 

[lovemachine]

So I ran across a really nice truck that I like a lot. I'm thinking of ditching the Dave Ramsey plan so I can get a 2nd car payment

 

[CampingJosh]

So I ran across a really nice truck that I like a lot. I'm thinking of ditching the Dave Ramsey plan so I can get a 2nd car payment

Attention everyone:

 

[lovemachine]

Attention everyone:

 

[JettaKnight]

He's just upset because he has three car payments.

 

[jkaetz]

So I ran across a really nice truck that I like a lot. I'm thinking of ditching the Dave Ramsey plan so I can get a 2nd car payment

You should do a reverse mortgage on your house to pay for it. People will actually pay you and you still get to live there! Then you don't even have to get another car payment.

 

[CampingJosh]

He's just upset because he has three car payments.

Me? Nope. I finished my student loans off six years ago this month, and I haven't had any payments since. I've never borrowed money for a car, not even the one I bought new. But that did mean I spent four years driving a car that I bought for $400 (and then sold for $400).

Living debt-free isn't glamorous... at least not for the first several years.

 

[1775usmarine]

The only debt I have is a mortgage, car, and bike. My wife has student loans. We use to have 6 to 9 CC's can't remember now, her car, the house, and my car. We have been married 5yrs as of today and we did the snowball thing with the CC's, which helped us pay them off fast. I work for the railroad and since 2012 have been putting in to my 401. I have it set every year to increase by 1% till I hit 10% at which point the Company quits matching. I also get a VA check every month which is used for bills.


This year I'm turning in the Jetta TDI for an Escape due to the emission scandal and the wife is planning on a new vehicle later this year as well. Only because she has a small business and the car she has that is paid off is a Chrysler money pit at this point. We are hoping her auto accident settlement clears up this year and the money she gets from that will be used on her car, and a small trailer for her shows. We do have life insurance policies out on ourselves, so what she gets from the settlement won't be missed and in the event I die she would be taken care of. I would love to get back into the snowball routine and get both my car and the bike paid off in 3 yrs and start paying her loans which she currently doesn't have to pay on as we don't include my income at this time for her payments and her income is way below the threshold. I mean we do pay 150 total a month for the loans just to get it going down but would like to get those paid off first before we start on the mortgage. In the end would be nice in 10 yrs at 41 to be as debt free as possible.



FTR: I'm not an English major and my thoughts just start flowing when I get in the zone. If your lost on my train of thought sorry.

 

[AtTheMurph]

Turning in the Jetta because of the emission scandal? You know you can take it in and VW will adjust the software so it gets fewer MPG. No need to turn it in!


And my take on Ramsey is he should be put in prison for giving investment advice without being properly licensed. That's what the licenses are for, right?

(and his advice is made for people that listen to Suzy Orman. In other words, people who cant control themselves and their money. And his advice to invest in the markets and make 12% is beyond pale. Lock him up already with his little side deals with his Dave Ramsey approved investment advisors and insurance sales people.

Bunch of BS.

 

[hog slayer]

Turning in the Jetta because of the emission scandal? You know you can take it in and VW will adjust the software so it gets fewer MPG. No need to turn it in!


And my take on Ramsey is he should be put in prison for giving investment advice without being properly licensed. That's what the licenses are for, right?

(and his advice is made for people that listen to Suzy Orman. In other words, people who cant control themselves and their money. And his advice to invest in the markets and make 12% is beyond pale. Lock him up already with his little side deals with his Dave Ramsey approved investment advisors and insurance sales people.

Bunch of BS.

Well, you know you now need to support your claims of illegal activity. Otherwise you're just a mouth.

 

[PistolBob]

I was thinking of the word butthurt...but wasn't sure how to spell it.

 

[jd4320t]

Haters gonna hate.

 

[CHCRandy]

Me? Nope. I finished my student loans off six years ago this month, and I haven't had any payments since. I've never borrowed money for a car, not even the one I bought new. But that did mean I spent four years driving a car that I bought for $400 (and then sold for $400).

Living debt-free isn't glamorous... at least not for the first several years.

We are never debt free, some where we always owe someone. Whether it be water bill, property taxes, sales tax, insurance, electric, phone, etc. ..........we will always owe someone, no way around it.

 

[lovemachine]

We are never debt free, some where we always owe someone. Whether it be water bill, property taxes, sales tax, insurance, electric, phone, etc. ..........we will always owe someone, no way around it.

True. But you can still live a life without owing anyone on your vehicles and home.

 

[1775usmarine]

Turning in the Jetta because of the emission scandal? You know you can take it in and VW will adjust the software so it gets fewer MPG. No need to turn it in!


And my take on Ramsey is he should be put in prison for giving investment advice without being properly licensed. That's what the licenses are for, right?

(and his advice is made for people that listen to Suzy Orman. In other words, people who cant control themselves and their money. And his advice to invest in the markets and make 12% is beyond pale. Lock him up already with his little side deals with his Dave Ramsey approved investment advisors and insurance sales people.

Bunch of BS.

I know I've followed the case from when it broke 6 months after buying the car in 15 to now. I also went to school for diesel tech so I know this "scandal" is nothing more than EPA BS over 485K affected cars. By doing the buyback I cut my car loan, and personal loan to one loan. I had an 06 TDI after my Impala blew its lower intake it little over 200K on it. Well the 06 blew the trans less than 4 months of buying it. I had bought it from my mom at a major dealership on US30 in NWI thinking she wouldn't mess me over, but I found out even when it comes to family just to make a buck. Anyway had to get a personal loan to pay off the 06 and then used the remainder of that loan, another 1K and the car as trade to get the 15 for under 19K.


I end up saving 80 per month by doing the cut and come out to a wash with my miles to work, and cost of fuel for both. I'll pay around 0-3.55 for one loan vs around 15% for 2. I do get a bigger vehicle, and don't have to worry about long term effects of the emission fix on engine components. i also don't have to wait and see what resale values are 10yrs down the road especially after VW decided to quit selling the TDI here.

 

[CampingJosh]

We are never debt free, some where we always owe someone. Whether it be water bill, property taxes, sales tax, insurance, electric, phone, etc. ..........we will always owe someone, no way around it.

Nope. I'm paying for the service to come, not the service already received. I've already paid for everything I've received so far.

 

[Fizzerpilot]

We worked the Dave Ramsey plan... we paid off all of our debt, including our mortgage, almost 4 years ago. We were 35 and 31 at the time. We had only built our home 6 years prior...

It has been pretty incredible ever since... I won't talk in real numbers just how explosive our net worth has increased in these 4 short years... but we are on a trajectory to never worry about money, bills, and debt, ever again. Sacrifice pays off.