Well it's officially been over a week since I have been blogging. I took a much needed break from facebook and blogging. I spent the extra time on more important needs in my life- time with God and time with my husband, and just some time to think.
We are facing a new challenge together. We started listening to Dave Ramsey's AM radio show, and if you don't know who he is, he has written several books to help you get out of debt. I don't usually buy into something someone's selling, but this time it was different. Jonah and I have come to the decision to become debt free!
Dave Ramsey offers an online course you can 'enroll' in, but it also offers free budgeting charts to help you. The purpose of his course teaches you how to pay off debt in the 'debt snowball', a little at a time, but with a huge pushed effort so that you pay it off quickly.
The sacrifice of course is keeping it in as short a time frame as possible. What pushed us to do this? Listening to the stories of so many other families, couples, and individuals going through the same thing, with the mentality that debt will always be there and it's part of life.
One story encouraged me, a husband and wife had $90,000 (wow) in debt, but were able to pay it off on a $50,000 salary and while having two kids, in 4 years. That's impressive.
The biggest thing we carry is our student loans and having those sitting there really prohibits us from freely living, serving and giving. Thinking about not having debt but paying for things with cash give you a sense of freedom to dream!
We purchased the book 'The Total Money Makeover' and what is neat about it is it teaches you how to think differently, not just to do something and fall back into the credit card rut. He actually encourages not owning a credit card at all, but saving your money and buying everything in cash.
I will update our progress as we get further into the process, but we are so excited to do this early in our lives.
We both have the desire to travel more, but also to be more available to serve God, if it requires traveling, we can do that...looking ahead.
That verse in the Bible that says Owe no man anything....(Romans 13:8) is pretty clear.
I'm excited about this huge decision, but I do ask for prayer as we embark on this together. I know it will require a sacrifice from both of us, to give up the extras now, so that we can have freedom later.
1 comment:
You are going to absolutely love his books and show. I read the Total Money Makeover a few years ago and Financial Peace. I found an awesome budget that uses Excel that is great. Dave Ramsey is also on Fox.
The debt snowball is great. My car will be paid off a year early and our home improvement loan hopefully two years early.
We are trying to be debt free next year so that I can work part-time or not all when #2 comes arrives.
Email me if you want me to send you that budget. dawnsal526@hotmail.com
It's a great decision that I wish all Americans would do. Except Obama wants you to spend, spend, spend.
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