Dave Ramsey

austin_billygoat · Sep 15, 2010

Who Has and what do you think? (I'm in the class and i didn't see a spot in the budget for 4x4 )

offroadrocktoy · Sep 15, 2010

I think that goes under blow money! :dblthumb:

zayne2427 · Sep 16, 2010

Yeah I listen to Dave all the time. He has a lot of good stuff but a 4x4 def isn't in the budget in his eyes. Especially not 2! I use a lot of his finacial advice but still have my toys. At least they're paid for though. Have a lot of "assets"

godevil · Sep 16, 2010

I have and there isn't a spot for 4X4.
His system will work if you use it to a "T"
His system will also work if you just listen and become more aware of the money that leaks out the cracks every month.
The envelope system is a great way to understand a buget and just how hard it is to keep one.
Just have a spot in the buget for wheeling. And if you are married have a spot for Shoes,Purses, or whatever the hell it is they buy.

Do I use his system now? HELL NO.
But it made me more aware and my bills are going down instead of up.

cheroking · Sep 16, 2010

I have been through it and I think there is a spot for a 4X4. I have $200 blow money every month and some months I put some in an account to go toward admissions and gas. Some months I have have to use it for broken parts. It may take me longer to get out on the trails, but Ramsey has definitely changed me and my wife's life. WE are working toward paying off our house now. Hopefully I will not have a Credit Score in 10 Years. (For those who have not been through the program, If you don't have debt you don't have a credit score). Once that happens there will be much more money for Wheeling.

TURNEROFFROAD · Sep 16, 2010

Dave is a smart man, I've listened to him and read some of his books.... it's worthwhile

xjkrawler · Sep 16, 2010

cheroking said:
I have been through it and I think there is a spot for a 4X4. I have $200 blow money every month and some months I put some in an account to go toward admissions and gas. Some months I have have to use it for broken parts. It may take me longer to get out on the trails, but Ramsey has definitely changed me and my wife's life. WE are working toward paying off our house now. Hopefully I will not have a Credit Score in 10 Years. (For those who have not been through the program, If you don't have debt you don't have a credit score). Once that happens there will be much more money for Wheeling.

thats a good plan right now.

im 21 and in college and still living with my parents.

ive taken his class through my church and plan to follow it through out my life. ive seen what it will do and heard stories. so hopefully it will make my life easier(budget wise) by starting out with it.

good stuff!

Do Work 93YJ · Sep 16, 2010

His plan works. I had to make some small adjustments considering how I luv my toys, but by following his steps,reading his book, and listening to him on the radio
I was able to payoff almost $8,000 dollars worth of bills the first 1 1/2. :dblthumb:

austin_billygoat · Sep 16, 2010

worked more on the budget tonight. She didn't like the $$$ that i wanted to put in the blow Spot.(it was low) This is going to be hard if i added up all my parts and fuel for trips last year and divided in by 12(per month) she would ****.

blacksheep10 · Sep 17, 2010

I don't know if I could do it. I haven't delved into it (although I have ditched 23K in debt in 2.5 yrs.) I was tired of payments. I think it takes commitment of both parties in a marriage, and we keep our money completely separate. I couldn't let her have what I make on the side, so we take our paychecks and split the bills. My side money in the shop is my money for play.
My friends that have done the Ramsey thing have come out the other side with cash money vehicles and no other debt but houses.
I don't like the idea of no credit score. I worked hard as fawk for mine. All the assets in the world don't give you a score. you have to maintain some debt.
If any of this seems rambly or not connected to the thread it could be due to the fact I'm drunk, it's midnight, and a show is on tv with boobs. Perfect storm of Kelly

Cole · Sep 17, 2010

blacksheep10 said:
I don't like the idea of no credit score. I worked hard as fawk for mine. All the assets in the world don't give you a score. you have to maintain some debt.

I agree man, you need a credit score.

Lampley · Sep 17, 2010

You have to make a spot in the budget for wheeling. At the beginning of each year me and the wife set down and agreed to a certain amount I can spend on parts and upgrades for the entire year, and once I am out of money the truck gets parked until next year.
With that being said, we had no dept when we first got married, so I was able to do a lot of riding. Now the only dept we got now is the house payment, and I am lucky if I get to ride every other month. But our goal is to pay of this house in 10 years, so there is a lot of money being thown at the house payment each month. But I am ok with that cause I still get to ride some, and one day I can pay cash for a kickass buggy :****:, until then I have learned to be happy with being able to ride when I get a chance.

Lampley · Sep 17, 2010

muchado · Sep 17, 2010

I read total money makeover and he has a lot of good pointers... I do not follow his program to a T but have used some of his strategies to pay down debts, I will have my last non-mortgage loan paid off by the end of this month. Started with right at $10K between 2 credit cards and 3 loans last September... Not as bad as some of the stories in his book of people being a half million in debt---but it was still a monkey on my back. Amazing the money you "find" when you create a budget and realize where you're blowing it.

cheroking · Sep 17, 2010

blacksheep10 said:
I don't like the idea of no credit score. I worked hard as fawk for mine. All the assets in the world don't give you a score. you have to maintain some debt.

Cole said:
I agree man, you need a credit score.

I can understand in a business situation, but for my personal finances you can not give me a good reason to have a credit score. Once I have the house paid for, I will be putting around $4000 a month in the bank probably more with raises. What could I not pay cash for that I want. This is the principle Ramsey teaches. Pay cash for everything and do not use credit. He said he has not had a credit score in ~10 years. I would love to get to this point. He also says, usually when you pay cash for big purchases, you can get a better deal (which I believe).

austin_billygoat · Sep 17, 2010

We are wanting to upgrade houses is one of the reasons we started. we dont have much debt just a house payment and a car payment. We just wanted to get a hold on where it was going.
It made me sick on how much we spent on just eating out. (Dinner for Two, & 3 or 4 drinks etc.)
And don't get me started on DAYCARE......................

grcthird · Sep 17, 2010

xjkrawler said:
thats a good plan right now.

im 21 and in college and still living with my parents.

ive taken his class through my church and plan to follow it through out my life. ive seen what it will do and heard stories. so hopefully it will make my life easier(budget wise) by starting out with it.

good stuff!

I wish I would have been this smart at your age. I could have used some $ education, and still could. :****: At one time about 85-90% of my income went back out to pay bills.

uke:

I worked my butt off for the past coupla years, alot of 80 hr weeks to catch up and all I got left to pay off is 9k on my truck, 2k on a home equity loan and the house. I don't plan on living in the house for too much longer so I'm not gonna kill myself to pay it off. One good thing about all this is the 740 credit score I got.

InDaShop · Sep 17, 2010

cheroking said:
He also says, usually when you pay cash for big purchases, you can get a better deal (which I believe).

Tell me what big purchases, and what people mean by deal? I cant think of a single time I've gotten a better price by paying cash out side of Spec's Liquor which give an discount at the checkout for cash/debit vs. credit.

My last two trucks ('06 & '07 Duramaxs) I have paid cash money for. (different dealers) but on one they actually wanted to jack the price up since I was paying cash because they werent going to make backend interest.
My small Featherlite the price was what it was they didnt care how I paid.
My Big Dumb Ass trailer, paid cash as well but that was more haggling, the dude didnt care how I paid.
Same with my big Featherlite, Nolen named the price, I haggled.
Any home appliances, furniture or electronics I've bought over the years, there were no better deals for paying cash.

Even the huge wad I just spent on a Torchmate, no better deal if I paid cash.

I ask all the time if its a better deal if I pay cash

Only time I felt like I got a better deal was on crap I buy used off of here Pirate, or some of the hotrod **** I do, and thats face to face, and has nothing to do with cash as much to do with just haggling deals that were only going to get done in cash as you wont be accepting a check from some dude you dont know from Adam.

I think Ramsey has some good principles. I myself only have two debts right now. My house and my wifes Tahoe. I had to finance her tahoe in her name to build her credit, it was **** when we got married and hurt mine to the point I couldnt get a home loan with her on the mortgage. So its all on me. I pay for as much as I can with my American Express, if they dont take AmEx I pay cash. I pay it off monthly, unless I have something huge on there and I may carry a balance.
The past three years my wife and I have been able to take IMO very extravagant vacations on AmEx points alone.

I think where it comes into money management is that a credit card is like Vegas Poker chips to people, i.e. NOT REAL MONEY, RIGHT THEN. You still have to be frugal, watch what you are buying. Ask yourself do you really need that, do you really need that right now? And If I really need it right now, where can I get it cheapest? At this store, another store, online?

Every person, every family, every situation is different. You have to one be smart enough to research different budgeting strategies, and two be smart enough to understand where that money comes from.

Hell I have to take the wife out tonight for date night. And I know its going to cost me 3-4 hours worth of work to pay for it. Thats how I look at ****. Its also why I havent built or bought another offroad car.

austin_billygoat · Sep 17, 2010

Oh yea and i'm going on a guided fishing trip at texhoma this weekend that helped :fish:

Beyer · Sep 17, 2010

Lampley said:
You have to make a spot in the budget for wheeling. At the beginning of each year me and the wife set down and agreed to a certain amount I can spend on parts and upgrades for the entire year, and once I am out of money the truck gets parked until next year.
With that being said, we had no dept when we first got married, so I was able to do a lot of riding. Now the only dept we got now is the house payment, and I am lucky if I get to ride every other month. But our goal is to pay of this house in 10 years, so there is a lot of money being thown at the house payment each month. But I am ok with that cause I still get to ride some, and one day I can pay cash for a kickass buggy :****:, until then I have learned to be happy with being able to ride when I get a chance.

I agree with alot of this, but what good is a kick-ass buggy when your old???????????
I have no debt other than my house, but I also do not have the baddest **** around, but damn, when I want to go wheeling, I AM GOING WHEELING!