How many of you are debt free? (Dave Ramsey stuff)

[O4L]

Debt free and I highly recommend it!

I don't have much, but it's payed for.

Dan Celia has great advice for investing and saving from a Christian perspective.

He has a radio show on weekday mornings from 8-10 on 91.3 FM, and a website at financialissues.org.

 

[Wheel Gun]

I agree with Ramsey wholeheartedly. We're debt free and loving it. We'll have our home paid off in just a couple more years. We need to replace my wife's car soon and have been saving up for that for a long time. In a couple of months, we'll pay cash for one.

Debt sucks.

 

[farmerbyron]

I have over $2 million in debt. I earn a decent living being self-employed. If I were debt free, I'd be working for someone else and probably making a lot less. Leverage is not entirely a bad thing as long as you use it wisely.

Debt is a tool. You just have to know how to use it. Doing taxes there was a 3 month stretch where I spent 130k on farming expenses. Without a loan, I would not have been able to put on fertilizer/herbicide which generated more revenue than without borrowing. Business debt is a whole different animal.

Now personal debt like financing computers, furniture, appliances etc is where most people get into trouble. If you can't pay cash for that stuff, do without.

 

[Jestik]

Sounds like you could benefit from Daves book.

Sent from outer space or somewhere from my mobile device

Why don't you save me the money and fill me in? Does he preach living debt free I take it?

About the only thing that I do when it comes to financial advice that I've heard that make sense is "Pay yourself first", and that is what I do. Each paycheck I put money in my savings account.

 

[CHenry]

Its so awesome to have so much free income. I can save to buy a new car (if I wanted) that would be in the $20k range in just a few months. I need a new tractor and I could pay cash for a good used one by summers end....but I would rather drop that $10k on the mortgage. Once you get this much momentum, it becomes a game to see how fast you can get to the end. I made a $10k house payment 2 months ago and that felt great. I'll do it again next month.

Sent from outer space or somewhere from my mobile device

 

[subprep]

I have all but the remainder of my mortgage. Everything else I own outright. House should be paid in under 2 years.
yeah im pretty stoked.

Sent from outer space or somewhere from my mobile device

Way to go! we are debt free.

 

[Jestik]

Its so awesome to have so much free income. I can save to buy a new car (if I wanted) that would be in the $20k range in just a few months. I need a new tractor and I could pay cash for a good used one by summers end....but I would rather drop that $10k on the mortgage. Once you get this much momentum, it becomes a game to see how fast you can get to the end. I made a $10k house payment 2 months ago and that felt great. I'll do it again next month.

Sent from outer space or somewhere from my mobile device

Can I ask what your income is that allows you make those payments? I understand being debt free and what not, but how much do you make that to allow yourself to make 10k payments?

 

[chevyboy123]

In debt to my eye balls but got a plan to be out in 10yrs made some bad purchases that cost me big time but given a little time I'll be back where I want to be.

 

[subprep]

Can I ask what your income is that allows you make those payments? I understand being debt free and what not, but how much do you make that to allow yourself to make 10k payments?

I know your ? wasn't directed at me, but I also think based on what you said previously that you would like Dave Ramsey, yes he preaches living debt free but he also gives extremely common sense approaches to it, its not like some kind of get rich quick scheme book and dave ramsey is def not in jail LOL Just from the way you sounded earlier I think you could possibly have a hell of a lot more "cash money on hand" if you studied ramseys methods a little bit. And to just boil that down it just sounded to me like you would be a good candidate and have the discipline and ability to make it happen.

 

[CHenry]

Can I ask what your income is that allows you make those payments? I understand being debt free and what not, but how much do you make that to allow yourself to make 10k payments?

Nah I Dont mind, I work for the state and its public record. We bring home $6k a month after taxes.

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