Comments | mslilly: The Debt-Free Plan we followed.

mslilly

The Debt-Free Plan we followed.

Oct 29, 2008 09:01

We took Financial Peace University. Dave Ramsey teaches it from the Christian perspective, but is remarkably mainstream in the way he presents it. Basically, he backs up a lot of his teaching with the Bible, but given that the Bible is full of wisdom whether or not you ascribe to the Christian faith, it ends up being quite useful. Things like, "The ( Read more... )

dave ramsey, fpu, debt-free

Comments 11

tabbyfoo October 29 2008, 15:13:25 UTC

Are you familiar with Kiva?

http://www.kiva.org

It's another pretty awesome way to give.

mslilly October 29 2008, 15:56:24 UTC

Very cool! I had not heard of Kiva; I'll have to look into it more.

tracijean October 29 2008, 15:20:57 UTC

but where do you get the $1000?!

mslilly October 29 2008, 16:03:12 UTC

Basically, you live on as little money as humanly possible, sell lots of stuff, and take extra jobs to fill up the account ( ... )

fpu likethebeer October 29 2008, 15:48:23 UTC

Thanks for explaining this. I think I remember hearing about him on This American Life, but I was curious as to how you got into it.

Re: fpu mslilly October 29 2008, 16:04:52 UTC

Cool! I didn't know he was on TAL. I love that show.

We got into it through the church. About the time Mark got his job, I had been worried we would just go further into debt. I knew we were doin' it wrong, but I didn't know how to fix it. I kept saying, "I need Weight Watchers for money."

I don't remember who mentioned the class to me, but it's been a godsend. Maybe literally?

Re: fpu likethebeer October 29 2008, 16:20:57 UTC

TAL: I'm pretty sure I heard him on TAL. I remember the excitement with which people were calling him - that "out of debt" scream!

It's great to hear this, since I know money's been a big worry for you guys (well, who doesn't worry about money?!).

Re: fpu grammardog October 29 2008, 16:12:29 UTC

Thanks for posting this! I really enjoy seeing other folks' concrete plans for money management, since saving has always been a totally vague concept in my life. I'm working at saving that emergency fund for myself right now.

I agree with you about being in debt not being useful. Unfortunately, it's a necessary evil for many, but the only people it's useful for otherwise are the moneylenders. I remember hearing a financial counsellor talk about the foolishness of trying to save money while being in debt... it just doesn't make sense, because it's not actually YOUR money you're saving, and you're just paying interest month after month. Makes NO sense... that really stuck with me.

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mslilly October 31 2008, 16:53:13 UTC

Yeah, I like your car example. I can't even bear the thought of paying five or six grand for a car! I think that eventually we will just maintain a running vehicle with A/C. For travel, etc, it's cheaper to rent. But maybe I'm having a moment of delusions.

Congratulations on getting out of debt! I wish I could do the cc thing if for nothing else than the free miles, but it's way too tempting for me. Like giving whiskey to an alcoholic.