Dave Ramsey

Lately I've been thinking a lot about finances, and financial goals.  I had heard of Dave Ramsey's book, and his seven step plan, but I had never read it.  Initially, I thought :Why not just pay off the house first, and then you have a huge chunk of extra money each month to do everything else?  The farther I read, the more I realized that the house will take care of itself (while you are reaching other goals).

Dave Ramsey has 7 goals.

1- Get $1000
2- Pay off debt (using snowball method)
3- Get 3-6 months of savings
4- Save for kids college
5- Save for retirement
6- Pay off house
7- Give to others

If you pay attention, steps 4-6 can all be done at once (you only need a specific amount for college and retirement, and you put the rest towards the house).

According to Dave Ramsey, all these steps are done in an average of 7 years!

Do I want to be debt free in seven years?  YES!  Will I make it in seven years?  Well, I don't know (averages in his book are based off amount of debt and income)... But I'm sure going to try!

Money can symbolize a lot of different things - Power, status, security, control, etc.  For me money represents security.  Having money means I have what I need when something unexpected comes up.  Financial security equates to resiliency because WHEN something breaks down, I can fix it.  It gives me one less thing to worry about.  Resiliency is about bouncing back.  It's much easier to financially bounce back it you have a plan.

I recommend this book to anyone who wants to get out of debt, and needs a plan.

 Paperback version

    

Kindle Edition