This topic contains 5 replies, has 6 voices, and was last updated by Anonymous 7 years, 11 months ago.
- May 24, 2011 at 8:41 pm #218938
how are u doing?
how long did it take fro u to get out of debt?
what was the hardest thing for u to do?
it doesn’t cost a penny to do the dave ramsey program
- May 25, 2011 at 4:28 am #283739
We are currently on hold on baby step 2. We have stopped the debt snowball and building up a fast emergency fund, my husband looses his job in 8 weeks. But because of his program, we have already figured out a rough budget if he doesn’t have a job by the time this job ends and we have figured out what he needs to make to afford daycare otherwise he will work 2nd shift so we have little to no daycare costs. Thankfully, I work full-time and we can switch to my health care benefits when his employment ends. If he isn’t unemployed long we will still be able to get out of debt with in 24-36 months.
The hardest thing (sometimes) is to keep going. We have a big debt hole and climbing out of it some days seems endless. We have worked out a system that every time a debt drops to the next thousand mark, we celebrate (usually just a quick phone to him after I finish the budget update and see it has dropped, sometimes an ice cream cone for the family). It keeps us focused and motivated to keep going.
If all goes well, I estimate it will take us a total of 5 years to get out of debt, 2 1/2 more years too go. During the last 2 1/2 years we have had another child and paid cash for graduate school. So as long as this job search is short, the next 2 1/2 years should be easier!
- May 27, 2011 at 11:33 am #284465
My friend has and it’s really worked out for her.
- June 1, 2011 at 3:54 pm #285659
No, because I took responsibility for my own debt and successfully cleared it. There is always more I can learn, so I am interested in such programs, and have read through this and many others. The Dave Ramsey one is well thought out, and if I needed it, I’m sure it would work for me.
To answer your other questions, it took me five years. The hardest thing was regularly saying no to my children, when all of their friends’ parents had apparently endless income for designer brands and expensive toys, and mine felt hard-done-by. It was a lesson they took note of, though, as they have all become very good at managing what money they have. I don’t fear for them in the current financial climate.
- June 11, 2011 at 6:15 am #287996
My wife and I are on the program. We started about 4 months ago. We are doing absolutely GREAT on this program. We are still on baby step number two (paying off debt) and are far better than we were before we started. We have our mini emergency fund in place ($1000). We have since paid off both cars almost a year early ($800/month) and are rolling that up the debt snowball every month. It is funny how things work. We are excited about the bills coming and doing a budget every month. We love paying bills now that we have a plan. It is cool to see the total debt number come down each month.
The hardest thing to do when you first start out is:
1. Making and sticking to a budget. You will not get it absolutely perfect the first couple of months but it comes easier as you move along. Unless it is on the paper, we can not spend it.
2. Changing our spending habits. We do not go to restaurants, bars, movies, vacations etc. Restaurants used to kill us as we like to eat out a lot. I really do not need yet another DVD at the checkout from the grocery store anymore. I really do not need yet another shirt or pants or shoes or jacket.
Once you get started and get intense about it, you will be amazed at how easy it is to say “NO” to things. No is our favorite word right now. We know that if we change our behavior for the greater good for a couple of years, we will be so much better off. We have also met with one of the investment ELP’s from his website. These guys are great as well. We have moved aroungd a bunch of 401k and IRA stuff to better manage our money.
I am very glad to see someone asking about his program. I am a great advocate of the Total Money Makeover. We are also going to enroll in the FPU in the near future as well. We are paying off debt. We are investing correctly. We are loving it.
I sure hope you will consider following his program. If it does as much good for you as it has for us, you will be extremely happy with it.
Good Luck and I wish you all the best in you new found venture.
- June 15, 2011 at 2:22 am #289556
Why do you need to spend money on some program to get out of debt. Just spend less than you make. Make out a budget and stick to it. He recommends that you attack the smallest debt first without regard to the interest rates. I think that he is dead wrong.
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