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Arxon wrote: also Lone that money can be used to take the family on vacation. I think of it as a bank without fees.
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Twodavez wrote:
Arxon wrote: also Lone that money can be used to take the family on vacation. I think of it as a bank without fees.
Well i'm pretty sure any bank would open you up a savings account with a min balance of 200.00, then pay you to keep your money in there. the government doesn't.... You could always set up an auto draft to another bank and not give yourself access to the money until the end of the year. Or there are programs at banks called Christmas Club or Vacation club where you make deposits then at either Oct or June you get a check from your savings...
I understand that most people can't keep their hands off money if they have it, but that's another problem all together. Nothing reading Total Money Makeover wouldn't fix. Just imagine if instead of paying the bank interest, you could be giving more to charity, or investing more for you and your family's future.
My wife and i took his 16 week course Financial Peace University and it was the best $100 we ever spent.
I preach because i care about you all and i would love to see everyone be financially able to buy a the newest technology for cash!!!!
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Oh yeah... did that too, and still bought a computer.DrDeath wrote: Try taking your tax return and throwing it at some debt
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Ender wrote: Sooo..i wasn't going to say anything...but I did the Dave Ramsey plan/classes too =) My wife and I are pretty much debt free. We have a car and house that we have enough money to pay for in full, but we're making more money by just paying the normal amount and investing the rest. =) Dave Ramsey is the man. Woot woot!
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Ender wrote: Sooo..i wasn't going to say anything...but I did the Dave Ramsey plan/classes too =) My wife and I are pretty much debt free. We have a car and house that we have enough money to pay for in full, but we're making more money by just paying the normal amount and investing the rest. =) Dave Ramsey is the man. Woot woot!
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DrDeath wrote:
Ender wrote: Sooo..i wasn't going to say anything...but I did the Dave Ramsey plan/classes too =) My wife and I are pretty much debt free. We have a car and house that we have enough money to pay for in full, but we're making more money by just paying the normal amount and investing the rest. =) Dave Ramsey is the man. Woot woot!
Ender, I guess I'm confused. If you have enough cheddar to pay off the house and car, why wouldn't you? Then, you'd be able to invest ALL of your income. Instead of dumping money down the toilet in interest payments, pay the house and car off, then you'll have more to GIVE and to invest. BTW, congrats on the pretty much debt free lifestyle and even paying attention to your finances. You've done more with just that than 70% of America.
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Twodavez wrote: Just in case anyone doesn't know, Dave Ramsey's baby steps are:
1. $1,000.00 in an emergency fund
2. Pay off all debt with the debt snowball
3. 3-6 Months of expenses in savings
4. Invest 15% of income for retirement
5. College Funding for children
6. Pay off your home early
7. Build wealth and give
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