David Bach on Oprah

[Tree0164]

David Bach author of Smart Couples finish rich and Automatic Millionare. One thing he stresses is pay yourself first.

http://www.oprah.com/tows/pastshows/...20040427.jhtml

[DivaJen]

I saw that episode too. I have to admit, he was recommending people pay/save $20 a day. When you are struggling to get all the bills paid, coming up with an extra $600/month isn't all that easy.

I did like that he suggested that the one guy give up his truck with the $700/month payment! I couldn't believe that he was paying that much for a truck. Unreal.

[2moretrees]

Why do I always miss these programs? Everytime I turn on the tv, all I ever come across is infomercials lol Thank you for the link

[Tree0164]

Jen,

I agree with you. I think that is a little extreme. Like you we are 1.5 income family and just can't come up with an extra $600 a month. I try to watch the extra spending and do a pretty good job on keeping the latte factor down.

I think the overall message David Bach was giving is pay yourself first and stop trying to keep up with the jones.

I can't believe $700 for a car payment. Now that is crazy. I don't have any car loans and hope to be able to save up for a 1/2 way decent car payment for our next one within the next 24 months. I like to buy a relatively new car-2-3 years old and then drive it for atleast 8-10 years. My mini-van is 1996 and has 83k on it. Dh's car is 1997 with 100k on it. Both are working fine now but we will probably trade in Dh's for another mini-van and drive mine into the ground.