More on Dave Ramsey....

If you have the chance to go through Financial Peace University (FPU), you need to do it!!! I was a bit hesitant because someone said they thought you had to share all your numbers with the class. I also was unsure if I wanted to pay for the class when I had A Total Money Makeover....and although I had not implemented anything, I knew the basics. Lastly, I wasn't sure it was for us....our finances are in pretty good order. WRONG on all counts....you don't share your numbers in our class....yes, I had the book BUT had done nothing with it and EVERYONE can benefit and improve from Dave Ramsey!!!!!

Lots of things are just common sense but it seems common sense is in short supply these days. We are an instant gratification generation. Our Great grandparents and grandparents didn't believe in debt or credit.
The 1910 Sears catalog said 'buying on credit is folly'.....can you say DISCOVER card?
JC Penney only took cash--that changed on his death.
Ford didn't offer credit until 10 years after GM.

Our grandparents thought debt was DUMB and a SIN!!! Their homes were paid for and so were there cars....today it seems very few people plan to pay off anything. It seems like so many today are caught up in materialism....what can I buy next, what can I change, what do I want in my next house, what about my next car.....

Dave gave some statements that come from rich and poor people--hey if it is you--don't be mad at me--just repeating what DAVE says....and if it hits a nerve--maybe it is an area that you need to work on! :-) He didn't miss any one's toes last week!!!
POOR PEOPLE QUESTIONS: When buying a car, you ask them to get a payment of X amount...for 5 years or more.

RICH PEOPLE QUESTIONS: When buying a car, you ask them what the car is costing you--and then pay cash. If you are on your way to being rich, you never finance for more than 18 months to 2 years....if it is more than that....look at where you want to be! Once it is paid off--you put the car payment money in an account to save to pay cash for your next car.

DO NOT BUY A NEW CAR unless you have a MILLION dollars in the bank!!! New cars lose 70% of their value in the first 4 years--it is one of the worst investments you can make!! (Side note--when doing your budget--the right way--you figure out what % your transportation allowance is 10-15%....that includes car payments, gas, repairs....go do your math!!!)

HOUSES: NEVER take more than a 15 year fixed rate loan out on a house.

Children do what feels good--don't be a child--YOU ARE AN ADULT!!! Wait until you have the cash. NO it isn't always easy to wait to buy things, go places, or do projects on our house....but YES, it feels GREAT to come back from a vacation we paid for and owe nothing....it feels great to do a house project and not owe on it and we appreciate things so much more that we have saved to buy! These are the ways of Dave....he is a multi-millionaire and a Christian...he knows what he is doing and who he is doing it for!
I think we have about 60 families in our class--our consumer debt is $1,072,000....that includes NO homes...just something to think about!!!

Check out Dave's site for a FPU near you!
http://www.daveramsey.com/