We've locked them up!
No, not our precious children...
our CREDIT CARDS.
We've bound them with thread and Bible Verses and locked them away in a safe.
No more spending money we don't have.
We've always been good at paying off our credit cards, until this past month.
This was the first month that we spent MORE than we brought in.
And that didn't sit right with me.
So, I took some action.
I took this book off the shelf.
Previously, it has been used to hold down the surface I was spray-painting.
{see the little brown dots?}
So, it has come in handy in the past.
But it has changed our future!
Dave Ramsey talks about and gives PRACTICAL STEPS to becoming debt free, building up an emergency savings fund, saving for college/retirement...
...and doing so right now!
It was exactly what I needed.
Someone to hold my hand through all this adult financial business.
We are already on Baby Step #3
(Finishing our emergency fund with 3-6 months living expenses saved up).
Baby Step #1
(saving $1000 QUICK)
was easy as we cashed in some Savings Bonds that had matured.
Baby Step #2
(eliminating ALL debt, except for the house)
was finished easily thanks to me getting on top of our spending the month it got out of control. But, there are many people who might take years on this step.
{In fact, Dave Ramsey has a podcast where people call in to scream "We're Debt FREE!!!" and tell their story of how much debt they had/paid off... it's inspiring to hear - and a warning to me at how easy it can be to acquire debt.}
But I can't wait to get to Baby Steps #4 and #5
(investing for retirement and college funds).
He paints the picture that if you invest $500/mo from age 30-70, you could have $5,882,386 tax-FREE!
While I don't necessarily want that much for retirement, it paints a healthy picture of saving any amount for retirement NOW.
Have any of you read this book?
I feel like it was written for financial "dummies" {like me}.
Dave puts things in practical terms and explains it like I'm a kindergartner.
I appreciate that.
{and no, I haven't been paid to tell you all this wonderful stuff. I just like it.}
Money can be a tricky thing - especially since our salary is provided by givers and churches.
I want to be a good steward of what they are trusting God with.
And what we are trusting God for.
What are some ways you try to be good stewards of the money God gives to you?
Love it! Still on step two because of my student loans and a sudden surge in medical bills this year. Just when we almost have something paid off and we are feeling comfortable, God throws us a curve ball LOL
ReplyDeleteWe are huge fans. We've paid off a ridiculous amount of debt, and hope to be free of it by the end of the year! LOVE IT!
ReplyDeleteWe have read it and are on Baby Step #1.5...seems like we get #1, and then we have a huge expense. So it seems like instead of paying a ton of extra on debt, we're constantly paying back our little emergency fund, for which we are grateful...We have paid off over $5,000 in debts since we got married, but have SOOOO much more!
ReplyDeleteIt is a great book! I have read it and my husband and I are debt free (I worked two jobs to get there). Good luck! I am sure you will get there.
ReplyDeleteI'm a little late posting but I wanted to tell you once again that you children are beautiful!
ReplyDeleteSecond, our two boys and their wife and girlfriend, respectively, went and saw Dave Ramsey for their birthdays. They are 27 and 24 and listen to him on their way to work every day and are hooked! I guess all of these years of listening to mom and dad say the same things were not enough! :)
I actually pass by "Financial Peace Plaza" every single day. Great book, great way to take control of your finances. We started that process several years ago and I can honestly say that I am very very PROUD of how we've been able to set ourselves up for the future. It's a very freeing feeling. I can't wait to see the post you write about that. :)
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