Austin Nesties
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Any Dave Ramsey fans here?
DH and I just discovered Dave Ramsey from some friends of ours and I wish we had sooner. We started the progam late February and in one months time we have almost paid off one credit card, we both sold our cars and downsized and are looking forward to being debt free in a few years (that includes our rental house and cars). I am just so excited about being frugal and paying off debt that I'm wondering if any other nesties are following his program as well. If so - where are you in the process? How long have you been doing it and how has it worked for you thus far?
Re: Any Dave Ramsey fans here?
we've kinda fallen off the wagon. we don't use credit cards anymore at all and used Dave's methods when previous paying them off/saving for our house.but i haven't been nearly as diligent about our debt as I should be.
i need to re-read one of his books and try to get back on board now that DH's student loans are all about to come due. its so much debt money that will be flying out the door when you combine that with our mortgage & cars!
Dave is great!
I have kind of looked into Dave Ramsey, but I couldn't figure out which book I needed- I read that some were for initial debt control and not what we should be doing, but could never figure it out and gave up. Do you have a specific book rec? I know DH and I are doing fine, but we could always do better.
And congrats on your hard work!
Me, me, me! I think it's been about a year and a half since we took the whole Financial Peace class series. I was a frugal saver anyway, but the class/books helped inspire us in many ways and we learned a lot. Sorry for the bragging coming up, but since you asked, here's some of the accomplishments that stemmed from it: Although we were wanting to buy a house, we first paid off thousands in student loan debt, then we put down 20% on our house, and we have a 6 month+ e-fund. (This is on one income.)
We may be breaking one of the rules a little soon to buy a safer car before the baby comes. Dave likes you to use your cars until they fall apart basically (unless you have the cash saved to buy a new one in full), but we feel that the safety factor wins here. So, we will borrow a bit from our e-fund to do that, but we will still have an e-fund, and by doing that, we won't have to finance.
I can't stand not having a "cash flow plan" and was having the hardest time getting my DH to use one until we took the class. Some people imagine it will be restricting, but I find it totally liberating.
Anyway, we definitely dig Dave and get excited when we hear anyone talking about his methods.
FireChiefsBride: I would start with Total Money Makeover.
ditto re: starting with Total Money Makeover.
It actually sounds like you are pretty much doing what his basic guidelines are. I'm also a huge fan, although I've not really been to diligent on getting the system going. I'm embarrassed to say I'm still working on baby step 1 after quite a while. As far as the book goes, Financial Peace and TTM are actually very similar (I've read both). If you want to borrow FP, I have it and you could borrow it
Just send me an email.
If you have debt - then you need to read his books. This goes for your house note any car notes and your debt that comes and goes. The idea is to have ZERO debt - not even house debt. And to build up retirement funds (outside of 401Ks) and to pay for your kids college, etc. It's building financial wealth and financial freedom. So you will benefit.
In addition to his books, we also listen to the free podcast every day. I love it and it's totally motivating.
Nice to know that there are other fans here!! Way to go Faon!!!!
Thanks; you too! Whenever I hear him speak, I get very psyched up. There is a certain high that comes along with paying off debt and avoiding taking on new debt.
here's info on the free class, for anyone interested:
http://www.daveramsey.com/fpu/free-lesson
dh and i did the snowball debt thing when we first got married. we didn't follow the steps exactly as we kept $3k in our e-fund instead of $1k, we didn't stop contributing to our retirement, and we paid off debt from largest interest rate to smallest. but we did pay off all our debt (except for the house) -- $24k in 10 months, so it worked for us!
what i did was read "total money makeover" (checked out from the library for free, of course) and use some of the resources in the back of the book. i also went over to the money matters board; a lot of the ladies there are very helpful.