We have been struggling financially, and a lot of my old debt has started to catch up with me. Sherrie let me read Dave Ramsey's Total Money Makeover book, and we are hooked! We are still on Baby Step #1, setting up our $1000 emergency fund, but we will have our budget ready by May 1st and will be ready to start Baby Step #2 (the Debt Snowball) as soon as we have the fund complete!
I am really excited about this. So far I am the only one who has read the book, but David will read it next and we can be debt-free in only a few years! This will be a great gift to not only ourselves, but to Gracie as well. She will grow up in a debt-free home and will learn from a young age how to manage her finances so that she will not run into debt problems at all! I just can't wait to really get going on this. It will be a very difficult journey, that is for sure. We will drive a cheap little used car for awhile, buy only basic necessities for ourselves and Gracie, and give up a lot of the luxuries we are used to having every day. It will all pay off in the end, though, when we have retirement all set up and invested, Gracie's college fully funded, our emergency fund will have four-six months of expenses in it, and we can buy everything in cash! Including a house! I will post regular updates of our TMMO journey.
If you are interested in this Total Money Makeover for yourself or your family, tune into the Dave Ramsey Show daily to get a feel for his program. In the DFW area, his radio show is on 570AM (KLIF) from 1pm-4pm (you can listen to it live on your computer: http://www.daveramsey.com/tdrs/# ), and his TV show is on at 7pm and 11pm on Fox Business Network. Visit http://www.daveramsey.com/, enroll in his 13-week Financial Peace University at a local church, buy his books (I found them at Half Price Books!), ... just get going! ANYONE can do it!
No comments:
Post a Comment