
Saturday was a great day for us. Jennifer and I were blessed with tickets to Dave Ramsey's Total Money Makeover Event in Portland (part of the gift included watching the kids for the afternoon - thanks Wally and Carolyn!).
Dave Ramsey is in the business of helping people achieve "financial peace." He teaches about getting
intense about eradicating debt, having a savings safety net, and getting saving and investing in your future. He's helped millions through his best-selling books, radio talk show, training tools, and live events. Want to know more:
http://www.daveramsey.com/Until a few months ago, we weren't really familiar with Dave Ramsey though. I was talking over some financial decisions with Jennifer's dad. He mentioned that Dave Ramsey might have some advice on his website that would give guidance.
We made the decision to attack our last bit of debt - Tim's student loan. I'm glad to say that Jennifer and I are presently DEBT FREE (not including mortgage). At the time it seemed so risky....we sold all of our HP stock - taking advantage of a 0% capital gains tax rate for our income bracket - and paid it off. That was only 3 weeks before the entire stock market did a tailspin. Certainly God had a plan to kick us into action at just the right time.
Next up is getting a serious budget in place that can allow us to invest aggressively (I mean dedicating a greater income percentage) and pay down the mortgage.
I'm looking forward to reading more from Dave Ramsey and applying the tools. I'm also interested in finding ways to help others with these tough issues. Here are some sobering statistics:
- 70% of all consumers live paycheck to paycheck (WSJ)
- This year, more people will file for bankruptcy than will graduate from college (Bureau of Labor Statistics' Consumer Expenditure Survey)
- The typical household has $38,000 in debt, and the total consumer debt is nearing $3,000,000,000,000 (trillion) (Consumer Reports Money Book)
This is "normal" in America. If that's the case, then I want to be weird!
One of Dave's favorite sayings is "if you will live like no one else, later you can live like no one else." What this means is there is a lot of effort and sacrifice required, but the pay-off is big. Dave admits that he has his critics, but he can only point to method that is simple and has worked for millions. What better track record do you need?
This stuff not only helps in finances, but it helps marriages, mental health and more. Do you know how much divorce costs?
My other favorite quote of Dave is "this is the same advice your grandmother gives, but we'll keep our teeth in." So thanks Grandma....and thanks Dave. Keep up the good work!