My name is Miki and I'm a Dave Ramsey addict.
If you haven't heard of him, he's a financial guy who pretty much teaches common sense, and I love it. As a woman, I think security is what I want most...security in my relationship, security in my home, and security with our finances. I have been a big Dave supporter for the past year. I found him on the radio after we moved back from Cali when I would drive to clients' homes. (570 AM from 7 to 10 pm) He starts every show by saying, "This is where debt is dumb, cash is king, and the paid off mortgage has taken the place of the BMW as the status symbol of choice." I bought his book, Total Money Makeover, and we started following his principles. Jonathan and I went and saw his live event yesterday at the E-Center and were thoroughly entertained. He gives 7 baby steps to follow to financial security.
- Get a $1000 emergency fund fast.
- Pay off ALL debt except house. (cars, student loans, credit cards, HLOC, etc)
- Increase emergency fund to 3 to 6 months expenses.
- Put 15% of your income into retirement.
- Fund your kids' college education funds.
- Pay off your house.
- Give!
He's all about never borrowing money and paying for everything with cash. So I will continue to drive my good ol' Civic until we have saved enough cash to upgrade. One of my favorite things on the radio show is when he lets people call in and scream that they are "debt-free." While we don't have any debt (except the house), I seriously get teary-eyed when I hear families do this. I just think it's amazing how hard people are working and how this is changing lives for the better.
Any other Dave Ramsey fans out there?
not a dave ramsey fan, but a big clark howard fan. seems like they are similar. clark is from atlanta, hence the preference. but, you go dar and miki! i am impressed by your debt-free-ness. yipee! you too are a rockstar wonderwoman, my friend. it runs in that carlson blood.
ReplyDeletei guess i should say i'm not a ramsey fan yet....
ReplyDeleteI've actually never heard of him but it sounds great! Having a husband in law school (meaning lots of student loans because tragically, neither of us are Vanderbilt's) always makes me a little nervous especially since there's not much we can do at this juncture. I'm excited for graduation and it's accompanying job and income and debt reduction cycle!
ReplyDeletei heart dave too! it's so nice not having a car payment anymore. it just totally goes with what the church teaches.
ReplyDeleteI read Dave Ramsey's Financial Freedom right before I got married. I thought it was so awesome. I will definitely have to check out this book too. Great post!
ReplyDeleteI just finished the book a few months ago and we became debt free (except our house) about two months ago. It is such a great feeling, and amazing to see how much you can save when you eliminate all payments on cars, credit cards, etc. Go Dave Ramsey!
ReplyDeleteThanks for sharing Miki! I am going out to get this book just because I know how much you guys love Daves principles It really is true that once you are debt free (aside from your house) you feel so much freedom. Can't wait to get some more financial advice. Hope you guys are doing well - we need to see you soon!!
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