Thursday, September 2, 2010

Debt-Free Living

About nine years ago, Dave and I began listening to the  Dave Ramsey show on the radio.  The more we listened, the more his plan about becoming debt-free made sense to us.  In a few short years, we became debt-free, including our house.  Dave Ramsey’s common sense, down-to-earth ideas about money worked well for us.

We still listen to Dave Ramsey, and even in this tough economy, he hasn’t wavered in the advice he gives to people about money.  Dave Ramsey’s program consists of seven baby steps to be done one at a time, starting with the number one:

 bs_1_sm $1,000 to start an emergency fund

bs_2_sm Pay off all debt using a debt snowball

bs_3_sm 3 to 6 months of expenses in savings

bs_4_sm Invest 15% of household income into Roth IRAs and pre-tax retirement

bs_5_sm College funding for children

bs_6_sm Pay off home early

bs_7_sm Build wealth and give!

Click on Dave Ramsey’s website for more information, or look for one of his books at a library or bookstore.  In addition to his daily radio show, Dave Ramsey now has a daily TV show shown on the Fox Business channel.

3 comments:

  1. I have visited his website many times! His advice is sound and so helpful.
    I am going to purchase one of his books for our son who is just starting out on his own. He hasn't quite got a hold of his budget and spending yet. I think he might listen to someone else better than mom and dad at this point.
    Great advice and thanks for posting and sharing this with us.

    MIke & Gerri (happytrails)

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  2. Debt-Free is the only way to live...we have never been happier!

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  3. Great post, thanks for the link to Dave's website. Good advice, too. Now if I could only get my 2 kids to see the value in that plan! Maybe I'll get each of them one of Dave's book for Christmas. Will they take the large hint?

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