I finished this book a few days ago, but I've been busy drinking Ramsey's KoolAid, so I wasn't able to blog about it.
Obviously, this book doesn't fit so well with the other books I have read so far this year. Lizzy and I decided to read this book because I know a few people who have been following the system with success. Ramsey explains financial concepts very clearly, although I could do without the quotes from The Bible.
Our own situation can use a makeover. When I finally graduated with my last degree just over one year ago, I had way too much student loan debt. I also have some credit card debt. Lizzy had student loans, credit card debt, and medical bills when we met, but we have paid all of that off except for her student loans. Since reading the book, we have decided to attack our debt more aggressively, even though we are planning our wedding reception. Over the past couple of days we have listed many items for sale on Craigslist and Ebay, and I've gotten over $250 so far. I also applied for a part time job to supplement our income, at least temporarily.
It's way too early to tell how committed we will stay to this over time, since we will need to budget very strictly for a long time to meet our goals. I'm hoping that putting this out into the universe will help build in some accountability for me.
I hope you do stay motivated, money can be such a stress. One thing that has helped me and Dave is to have a cash budget of spending money each month. No food, drinks or entertainment can go on plastic, not even debit cards.
ReplyDeleteI've not read Dave Ramsey's plan, but the important thing is to HAVE a plan and stick to it! Good luck :)
~Meredith
G and I are a bit nutty for the Dave Ramsey. if nothing else, reading his books have helped us have a really good dialogue when it comes to our money--which is always good in any relationship.
ReplyDeleteThanks for the encouragement! We are just starting on this more intentional path, and I know it's gonna be tough.
ReplyDeleteWhat!? You'll take the info, but won't see that the Bible gives you everything you need for life (this is my appalled face) ;) J.C. and I took Financial Peace University right after we got married. We paid off all out debt in those first two years... and then he went to law school :(
ReplyDeleteJC says you have to dedicate a month to Ron Paul's The Revolution: A Manifesto. I am starting it this weekend.