- Location
- Cleveland Ohio
looks alot like mine although I haven't come close to the bottom yet and I don't have a 'total debt' line.
(mine is also sharpies and posterboard)
(mine is also sharpies and posterboard)
Dave Ramsey, debt, credit cards, retirement, etc
- Thread starter SuperJETT
- Start date
Mark44
Katie's Boss
- Location
- 100% one place
Sorry I will never understand how people can do this to them selfs.
Mark44
Mark44
In my opinion there is no better feeling than knowing that I pay for just about whatever I want (to some extent). Now that Kara and I are debt free it does not take long to save up for something and just write a check for it. Whether it is a truck (we've paid cash for a nice S-10 a couple of years ago and now a Silverado this spring after we sold the S-10), college tuition or a vacation. we were even talking last night and realized that if Kara wasn't pregnant and I didn't want to finish school that we would have our house paid for in four years or less. Most people don't realize how much more money you have every month if you don't have to make payments, especially interest payments.
dbrutherford
Parts Whore
- Location
- Fairmont, WV
I have paid out almost most $10k towards debt this year. Mind you that is money I paid out towards debt, not debt I paid off. At the end of the year, I will have paid out almost 18k towards my debt!
I just got a better job back home in WV that pays a little more than the job I had in AL. But perks like a company car I can drive to and from work, living at home only paying some of the utilities is a big plus compared to paying rent.
I will be completely debt free this coming May. I owe almost 20k in total debt right now and I have 10k in the bank. I have an Excel spreadsheet that I track everythign with. Right now, the path I am on, I will just continue to pay $2k a month towards my debt. I was going to completely pay off my credit card but I got to thinking the money in the bank would be better used as an emergency fund then to pay off the credit card. Over a 6 month period I will have to pay about $100 in interest.
This December makes three full years since I have charged one single thing on a credit card. Instead everything I buy is either with cash or my debit card. Six years ago, I would have never imagined that was possible. I was addicted to credit cards at one point in time in my life.
I will say those old spending habits are still present. If I want somethign I usually go out and buy it still. But now that I am out of college and working where I have more money to purchase things. Back in the day I would have just charged it. Also the idea of buying a new, well new to me dirt bike, has been buring a hole straight through my pocket. I also want a new laptop. My new job will provide 0% interest loans for up to $3k and for 3 years. I already talked myself out of that one too. It is still tough, but I am making wiser decisions now that I can see the light at the end of the tunnel. Next thing I plan to buy is a home so I better stay used to paying bills and being broke...
I just got a better job back home in WV that pays a little more than the job I had in AL. But perks like a company car I can drive to and from work, living at home only paying some of the utilities is a big plus compared to paying rent.
I will be completely debt free this coming May. I owe almost 20k in total debt right now and I have 10k in the bank. I have an Excel spreadsheet that I track everythign with. Right now, the path I am on, I will just continue to pay $2k a month towards my debt. I was going to completely pay off my credit card but I got to thinking the money in the bank would be better used as an emergency fund then to pay off the credit card. Over a 6 month period I will have to pay about $100 in interest.
This December makes three full years since I have charged one single thing on a credit card. Instead everything I buy is either with cash or my debit card. Six years ago, I would have never imagined that was possible. I was addicted to credit cards at one point in time in my life.
I will say those old spending habits are still present. If I want somethign I usually go out and buy it still. But now that I am out of college and working where I have more money to purchase things. Back in the day I would have just charged it. Also the idea of buying a new, well new to me dirt bike, has been buring a hole straight through my pocket. I also want a new laptop. My new job will provide 0% interest loans for up to $3k and for 3 years. I already talked myself out of that one too. It is still tough, but I am making wiser decisions now that I can see the light at the end of the tunnel. Next thing I plan to buy is a home so I better stay used to paying bills and being broke...
That is a key, to make wiser and wiser decisions, but still give yourself some fun at the same time.
Mark44
Katie's Boss
- Location
- 100% one place
Every single item I buy is on a credit card I mean every item from a .10 cent pc. of gum to 4 grand in air fair. Last month I got paid $140 bucks cash back just for using the card, of course it gets paid off every month don't be stupid.
Mark44
Mark44
dbrutherford
Parts Whore
- Location
- Fairmont, WV
I could spend every penny I ever made a million different ways. The reason I never finished my sky diving license is because that hobby makes riding full race/freestyle skis look like bicycles in cost comparisons. I need a cheap hobby like bird watching!
I always wanted my pilot's license. I started taking flying lessons at 17, with the money from flipping burgers at Dairy Queen after school. I was making about $50 a week, and a 1-hour weekly lesson (in 1980) cost, you guessed it, $50. About the time my instructor thought I was probably ready to solo, I discovered that I could use that $50 for lots of other, cheaper things.
I tried again in college. I took ground school as a course for credit, and had enough of my Army College Fund stipend left over to pay for the flight time. About the time my instructor thought I was probably ready to solo, the semester ended.
After college I got a full-time job, and my bank promptly offered me a shiny new MasterCard. Started flying again. But instead of paying as I went, I bought a new Honda GB500 and just put my lessons on the card. About the time my instructor thought I was probably ready to solo, I realized that I was well on my way to maxing out said card.
See a pattern here?
Although I REALLY wanted to at least solo, I finally realized that all a private license would do for me was to permit me to continue spending money I didn't have on plane rental, fuel, biannual reviews, etc...
dbrutherford
Parts Whore
- Location
- Fairmont, WV
Exactly! So for now I am sticking to skis in the summer and snowboarding in the winter. I have a quad I am debating on parting out...
romack991
homebrewed
- Location
- Warsaw, IN
Loan value is less than 20% of my annual income. It would be nice for it to be gone but i really don't notice the debt since the loan automatically withdraws the payment. I just question aggressively putting money towards it and not having much for an emergency fund at the current conditions. (Single, with a mortgage obligation) Also, I just don't like to put off saving for the things I'll need/want in the future to pay off the loan but in the end I guess it makes the most sense. :doh:
Frosty
New York Crew
- Location
- Western New York
aight, I know I'm supposed to be in it for the long haul, but holy crap i'm just throwing my damn money away with what I'm loosing in my 401K!!!!
WTF man... Grrrrrrrrrrrrrrrrrrrrrrr
WTF man... Grrrrrrrrrrrrrrrrrrrrrrr
Mark44
Katie's Boss
- Location
- 100% one place
Dave Ramsey said get the F out of here and move to Mexico! HURRY...........
Mark44
Mark44
Frosty
New York Crew
- Location
- Western New York
LOL - sounds good to me... the Mexican's are all moving up here anyway...
let's all move down there... Mexico - the new Amerca
at least it's warmer there... :headbang:
one thing about Mexico... there is no "Mexican Dream" - everyone there know's their life is gonna suck. We still think we can acheive the "American Dream" here...
Last edited:
Right now, all your losses are on paper -- they're not real. You want to make them real? Pull your money out when the market is down.
As I heard a financial planner say on the radio yesterday, "Panic is not an investment strategy."
It's a winding road. Have you ever been on a Northbound highway and had your compass read south? If you stay on the road, it eventually turns north again.
If you pull it out, then yes you threw your money away. If you keep it there, it will come back.
I just checked, mine is down 44% since 12 months ago. Oh well, I'm buying more shares now and just hoping my 401k deposit for this paycheck gets in there now.
Mark44
Katie's Boss
- Location
- 100% one place
Now is the time to buy there is some good money to be made. Scott Trade here I come.
Mark44
Mark44
Frosty
New York Crew
- Location
- Western New York
yeah, i was not thinking to pull out, not at all... just venting some frustration.
You know, the gov't came up with the 401k for people so that we can plan for retirement, and so corporate America would not have to do it for their employees... then the leaders of corporate America F around and still screw the little guy...
just frustrating is all...
You know, the gov't came up with the 401k for people so that we can plan for retirement, and so corporate America would not have to do it for their employees... then the leaders of corporate America F around and still screw the little guy...
just frustrating is all...
Midlake Crisis
Site Supporter
- Location
- Bakersfield, CA
Curious
Congrats!! I am not really familiar with Ramsey, but it sounds similar to how we have tried to do things the last 10 yrs. It is definitely a good feeling not to have car payments!!
What is the Ramsey plan for mortgages? Pay as early as you can? We have about 10 yrs. left on ours and it is at 5.3%, it seems like cheap money. Would you guys put cash into paying it off early even if it is cheap money like that?
Congrats!! I am not really familiar with Ramsey, but it sounds similar to how we have tried to do things the last 10 yrs. It is definitely a good feeling not to have car payments!!
What is the Ramsey plan for mortgages? Pay as early as you can? We have about 10 yrs. left on ours and it is at 5.3%, it seems like cheap money. Would you guys put cash into paying it off early even if it is cheap money like that?
