Money is one of those "touchy" subjects. I've been taught to never discuss how much you have or make, how much you paid for something, or ask someone else how much they have or make. It's also something that some people use to show others position and how much they have (or how well they are doing) because of all their "cool stuff" laying around.
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This book helps to prepare you with the 7 baby steps. I love how even though its hard to put yourself in check and teach yourself discipline, you can become well off and retire with dignity even with a low or modest income.
This book will teach you how to say "no" to yourself when you're faced with the pressure of being responsible (paying your bills and debts instead of splurging on electronics) to and make your money work for you. This is so hard for many of us, think about how hard it is to say no to family and friends who need things. But at the end of the day, having the extra payments really only works out if your life works perfectly. What would happen if you lost your job? What if the bank called your notes and you needed to pay it off right now? What if you had an emergency and needed an excess of cash to cover it?
This powerful book has inspired us to get out of debt and pay cash for everything! Look how happy we look knowing that our trip to Hawaii was paid for in full and we would not be coming home to a mound of debt.
What are somethings you've done to put yourself in a better position financially?
I am loving all your posts on this. My fiance and I don't have a ton of debt, but it is frustrating that a good chunk of our monthly pay check goes to paying off credit cards and student loans.
ReplyDeleteAny specific suggestions on how you paid down the credit cards? How did you budget every month?
Thanks!
champagneandsuburbs.blogspot.com
Meghan,
ReplyDeleteThank you for your comment! I agree that using the majority of your income to pay on payments sucks! As far as paying down the debt faster we had to sit and write out our budget for what we brought in. Then we started using cash to pay for everything, mostly to keep us from over spending. We stopped going on trips, shopping for recreation, eating at restaurants and going out with friends. We told our friends and family what we were doing and in less than a year we buckled down and paid it all off!
Check out my post on creating a zero line budget every month.
http://housewife2hostess.blogspot.com/2013/01/budgeting-101-dave-ramsey-way.html
I created a zero based budget and it is working great. I am only one month in to my Total Money Makeover, but I sure am excited to see the day that I am debt free!!
ReplyDeletetakingkarayourself.blogspot.com.
Kara,
ReplyDeleteI am so happy to hear that! You should be really proud of yourself, after all starting is the hardest part. But its quite amazing how quickly you are able to get things paid off and start saving money. The peace of mind was and still is my biggest motivation!