Money Matters
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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.
Does anyone follow Dave Ramsey?
No necessarily signing up for his "school", but following his 7 steps?
We've started doing it in an effort to get rid of our mountain of debt (it's huge). If we are disciplined we can have it gone in 4 years (seriously, it's huge - I hate to say the number out loud because it's embarrassing).
Just curious what the more successful (as in, have already eliminated debt or were smart enough not to accumulate it in the first place) posters thought of his methods.
Re: Does anyone follow Dave Ramsey?
I think his method is highly motivational and worth implementing with some adaptations. I like more than 1K for an emergency fund as well as continuing retirement contributions while following the rest of his program.
He is good
Thanks for the book rec - I'll buy (haha, kidding) go to the library today to see if they have it.
We are keeping up retirement contributions, and when I return to work from mat leave I will be maxing out the matching savings program they have -
Honestly, we have been very successful with this plan. We didn't have much debt to begin with, I had 5k in student loans and we had 2 home loans (each has a house when we got married). We have been following Dave for about 2.5 years now and in that tim
I agree about the envelopes being freeing... I love it. And it keeps us on the same page with our money, rather than one person needing to be designated the "keeper" (me). This way I don't have to verbalize that we've already burned through
I don't but when I was in Oklahoma a lot of people were following him.
We also have a lot of debt that we are working off but we are also trying to balance debt repayment with retirement savings and some sort of life.
I think that he is very beneficial. I listen to him regularly and have read his Total Money Makeover. There are areas that I do not follow; for example, I keep a credit card on hand, and I don't use cash for everything. My husband has