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Started By
Message
re: Dave Ramsey's Financial Peace
Posted on 2/10/13 at 7:42 pm to King of New Orleans
Posted on 2/10/13 at 7:42 pm to King of New Orleans
don't spend a dime on it. you can just google the plan. pretty simple, i can tell you how to do it off the top of my head.
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
5
Posted on 2/10/13 at 8:13 pm to Springlake Tiger
quote:
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
Before you do any of the above, save $1000 for any unexpected expenses (car repair, new fridge). If you have to use any of it, stop the debt payoff and replenish your thousand.
Posted on 2/11/13 at 5:30 am to Springlake Tiger
(no message)
This post was edited on 1/10/21 at 7:55 am
Posted on 2/11/13 at 1:57 pm to Springlake Tiger
quote:
Don't use a credit card, ever.
Well that's just dumb.
Posted on 2/14/13 at 2:18 pm to Springlake Tiger
quote:
Don't use a credit card, ever.
As long as you pay them off every month, they are great. Wife and I pay for everything possible on credit cards and get anywhere from $800-$1,500 back per year on stuff we would have bought anyway.
Posted on 2/14/13 at 2:30 pm to Springlake Tiger
quote:
Don't use a credit card, ever.
Stupid. You need a strong credit score and having a credit card and paying it on time monthly will help you build it. Not to mention bonus rewards on certain cards, almost like free cash.
quote:
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
+1. Been doing this but I saw someone on here say to pay off all your debt before. If the only debt is student loans and a mortgage, you are dumb if you dont contribute to your 401k, especially if they match.
This post was edited on 2/14/13 at 2:43 pm
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