Dave Ramsey Class?

[Littleguppy]

I started reading a Dave Ramsey book Total Money Makeover. I am just learning now and really at step 1. But just wondering if anyone has taken the class before. I also am going to start using the app everydollar and using cash for food and ect.

Just wanted advise what others here are doing or have done.

Thanks,

[Jluke]

Dave is good (not great) for handling debt.

He gives terrible investing advice.

what does your financial picture look like?

what kind of debt do you have - car loans, student loans, credit card debt, mortgage debt?

[disneysteve]

I have not taken his class. From what I've read and listening to his podcast (which is free, by the way), it seems to help a lot of people get on the right path and clean up their mess. Nothing wrong with that.

I do agree with Jluke that you should not pay any attention to his investing advice. It's just plain wrong. But if you need a get out of debt plan, his will certainly work if you follow it.

Subscribe to the podcast. I think if you are on that path, listening to others' stories can be very motivating.

[Littleguppy]

I just have one big loan, about 14,000. But when you make only $600 after taxes every two weeks that seems like a high reach. I just started listening to his podcast. I think I am going to focus on getting that $1000 or maybe just $500. I did start a scrapbook like journal with pictures from my zip printer to help visualize the path to 0 debt and money in savings.

[disneysteve]

I just have one big loan, about 14,000. But when you make only $600 after taxes every two weeks that seems like a high reach.

How did you manage to rack up debt that nearly equals your annual income? And what's the deal with the income situation? Are you still in school and just working part time? What's the source of the debt?

[Littleguppy]

Bad impulses. I work full time in retail and its a personal loan. Got rid of 3 cards.

[Jluke]

are you able to work a 2nd job to help save up/pay off the debt?

[Littleguppy]

Maybe but work may not work around the 2nd job, then I could lose full time.

[Littleguppy]

Just wonder if I should try and save for a 911 fund 500/1000. Or just start paying down debt first.

[Gailete]

Just wonder if I should try and save for a 911 fund 500/1000. Or just start paying down debt first.

Start with saving an emergency fund, that way when little things come up, like a car repair, of absolute necessity is needed, you have cash to pay and no need to charge it. Of course, every time you have to spend part of it you will need to slow down debt repayment and refill your emergency fund. Important. the emergency fund is not for a haircut, new clothes (even if on a great sale with an employee discount).

My husband and I got to go to one of the Financial Peace University seminars. I do agree with many of the things Dave said. But the biggest is stop spending, start saving and start paying off debt.

Even if a second job is out of the question due to working in retail sales where you get your work schedule with the hours the boss wants you to work, not the ones that are necessarily conducive to working a second job. Assuming you have unlimited use of a computer and the internet, it is possible to do surveys and other things for pay on line. You may not make much, but I know my son usually makes enough to pay for Christmas presents for the family each year, makes enough to get gas cards, etc. It all depends on the time you have to do things and the ways you find to make money.

Coming here is a good first step, and as someone that doesn't make the kind of money that many on this forum make, please don't feel intimidated. We all learn together.

[sblatner]

My husband and I taught our first Financial Peace University class in January. I highly recommend it. I'm 51/husband 57. We have always been in control of our finances and we both learned new information in the class. I agree about his investment advice. I don't approve of him using 12% as an average return. I think it sets people up to be disappointed. His seven baby steps and other advice about debt, savings, budgeting, insurance, etc., are very good!

[Smallsteps]

I have read his books listened and or watched his shows in the past. I have also read financial oriented books and articles from many authors.
I glean off what strikes a chord with me and plan out MY course. I do think many of the personal stories of people on blogs etc are inspiring especially those who have stumbled along the way.

[Littleguppy]

Thank you all. Going to look into things I can do online.

[scfr]

I also am going to start using the app everydollar

I googled this and see that Every Dollar is an app provided by Ramsey. Just remember the saying: "If something is free, you are the product."

[Littleguppy]

What about teespring?