The Dave Ramsey Plan

[Z7_Matt]

All I know is we need to work out some kind of a budget with out baby less than three months away and my wife working and going to nursing school.

[60 Deluxe]

I have pretty much lived my life according to Dave's plan before Dave had the plan. I have always hated debt. We paid the ranch off in less than seven years and did not take on any consumer debt unless it was next to zero interest. I figured that the 8% note on the place was a better return on my money than investing in stocks, mutual funds, insurance policies, whatever...and we put everything into retiring that note. I have never bought whole life insurance, only term. I did read a couple of the books and then passed them on to the kids. It only reinforced what I was already doing. We have been debt free for about ten years now. We give when our hearts tell us to give. We buy what we want when we want, but really don't want much. Our lives are so full that at times I wish they weren't. Bottom line, money is not a problem and we could care less what our credit score is.

Question I always had about the "Plan"; why would I want to spend several hundred dollars when all it really says is; have discipline in your spending habits and use your head and do the math when making financial decisions. There is lots of good advice out there free for the taking when it comes to financial decisions. The green screen is a good place to ask for advice...

[JACK71]

I think the hardest thing about any plan does not come until you are 2-3 months in, any plan (paying off debt, diet, etc) is pretty easy to follow for the first month or two. We Americans really have not ever told ourself no (Im talking about the majority of 45 yr old and down) I guarantee you my grandfather would of freaked if he would of seen a $60K truck, I often wish I could of just taken him to a lot and let him look just to see his response, lol, we as americans have always found a way to get what we wanted if we really wanted it, I dont blame credit card compainies, (they are greedy and try to suck you dry but they dont force you to use the card) they were smart enough to realize that there is a lot of money to be made off people who dont know how to tell themselves NO, just for the record even though credit card companies are greedy it never gives you the right not to pay them if you use their card, I tell my boys if your man enough to make the debt you best man up and pay the debt. At some point this has to stop, its not going to be easy, your not going to like it, there will be a lot of nights and weekends when your friends are going out and vacationing that you will sit at home, there will be times when your buddy shows up with that new gun that you have wanted for a long time and wants you to look at it, hold it, shoot it, he will tell you about the greatest sale in history and all the reasons you should make an exception to your plan and buy yourself one to. The hardest thing on any financial plan is discipline. Dave's plan or any plan you use will require discipline on your part. You have to make your mind up and be commited. Remember, the first month or two wont be bad, but about that third month when you are tired of not doing and going you have to sit yourself down, heck go stand in front of a mirror and look yourself in the eye and tell yourself NO, Im going to stick to the plan I have committed to.

[mjhaverkamp]

Congrats u are part of the less than 1% of all American adults! So are you saving 20% or more for your retirement years? (do not even consider social security in your retirement portfolio.)

Bam!!!

Bam and Booyah!!!! Thx you for observing and a CLEARLY pointing out that fact!!!

Congrats u r less than 1% of the adult American population! Now are u saving 20% or more for your retirement years? (don't factor in social security into your plan.)

Can I use this with the folks statement sir!!!

I cant believe folks have made billions off of unhealthy hamburgers! Humm, guess I am headed to Whataburger. Dave clearly advises folks to share his books, go to library, listen to the show for FREE, or go to MANY churches and get the info for FREE. Dave does more for the good of this nation than most so-called leaders can even debate. Oh, he never belittles others that are in the investment community as he is not competing with them. Susan Orman is liked big time but she does believe in "reasonable use" of credit cards.......she is also endorsed by American Express!!! LOL!! Dave told all the credit pimps to take a hike over a decade ago!

Yep! I absolutely loves what he is selling........mental, financial and spiritual freedom for every adult regardless of race, color, creed, education or INCOME!!!

And............? Again congrats that you got it! 90%+ of adult Americans DO NOT! It is dragging down our economy, autonomy as a nation (sovereignty) and literally jeopardizing our national defense.

Cha-ching!!! Thanks for making this crystal clear.

Congrats again......I guess! U r financially astute either thru your upbringing, associations, luck or innate ability. Either way, you are in the minority and teaching others (rather than ridiculing them or thumping your chest) how important it is to understand and implement "simple" concepts concerning finances would be a welcomed asset to your friends, family, associates, state and nation.

U got it on about 5 different levels!!!

We love that statement from Dave!!! I learned from mentoring a younger guy and his wife that neither of their grandparents actually were good examples. So sad if your grandmother is NOT part of the 1930's - early 1970's adults that message is NOT resonating with a HUGE segment of the current population.

Freaking GREATNESS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Most of the folks have zero idea how or what you are saying is worth ANY temporary change in life long habits.

Duh! Not everyone gets that or has been programmed to accept that as the holy grail. Are you saving 20%+ without considering social security?

Can you and/or are you willing to teach financial self discipline to others that are destroying all of our opportunities thus our country??

Go to his website as there is lots of info there in that area. I am self employed also..........it is pretty simple stuff to find & follow.



Love it!!!!!!!!!! Be different!!!

U got it and LIVING it!!!!

Very well said!!!

BINGO!!!!!!!! It is all about others in the end!!!

Yep, sold a house with one and use one for investing!!!

Great post!!! Thanks!!!!!

What are you talking about??? U might want to look on the website for some clarity.

Hey dude, whatever floats your boat, I don't need to look at his website, i am doing just fine without it, maybe I could do better but i don't know what the hell I would do with all that extra money.

[mjhaverkamp]

By the way, I have sent you a few pm's in regards to owning a restaurant, you must not do pm's, thanks anyway.

[Playa]

I have pretty much lived my life according to Dave's plan before Dave had the plan. I have always hated debt. We paid the ranch off in less than seven years and did not take on any consumer debt unless it was next to zero interest. I figured that the 8% note on the place was a better return on my money than investing in stocks, mutual funds, insurance policies, whatever...and we put everything into retiring that note. I have never bought whole life insurance, only term. I did read a couple of the books and then passed them on to the kids. It only reinforced what I was already doing. We have been debt free for about ten years now. We give when our hearts tell us to give. We buy what we want when we want, but really don't want much. Our lives are so full that at times I wish they weren't. Bottom line, money is not a problem and we could care less what our credit score is.

Question I always had about the "Plan"; why would I want to spend several hundred dollars when all it really says is; have discipline in your spending habits and use your head and do the math when making financial decisions. There is lots of good advice out there free for the taking when it comes to financial decisions. The green screen is a good place to ask for advice...

First of all " the plan" as you call doesent cost anything. We are taking the 9 week course & there was no cost to enroll. There was an optional "kit" with the book & other forms & resources. As mentioned before his weekly radio program is also free.

So the question is why would someone choose to pay for those optional resources. Mostly because I wanted some "skin in the game." This is a priority to us & needed to put my money where my mouth was.

[J-Bob]

Yeah, that had to be some kind of record!

We didn't use Dave's plan, but basically snowballed our debt when I got laid off a few years back.
We paid off $80k in debt in a little over a year.
Makes me wonder how much money we'd have in the bank if we'd been like that all along.

We were able to pay cash, for the pool we put in last summer. That was a feeling that you just can't describe. I loved the look on the builder's face when he asked if we had financing lined up and I laid my check book on the table!

Now we just have our mortgage and two vehicle payments.
My truck will be paid off, most likely, next month.
Tina's Yukon will be paid off in a year or so.
Our house will be paid off in about 6 or 7 years.
We'll be debt free before Konnor starts Jr. High!

Frickin Awesome Post!!! Congratulations!!!!

[ducks-and-bucks]

What do yall do to stay motivated? I feels great to get something paid off... but its hard to stay motivated when your snowballing and its taking 8 months to pay off a student loan... by month 3 its like god its going down but not fast enough!!! And it gets frustrating!! Its hard to keep going until your at that pointbwhere you notice next month... this loan is gone!!!

I try to keep listening to the radio show and hearing it all as much as possible .. what else have yall done??

[Ballcoach10]

What do yall do to stay motivated? I feels great to get something paid off... but its hard to stay motivated when your snowballing and its taking 8 months to pay off a student loan... by month 3 its like god its going down but not fast enough!!! And it gets frustrating!! Its hard to keep going until your at that pointbwhere you notice next month... this loan is gone!!!

I try to keep listening to the radio show and hearing it all as much as possible .. what else have yall done??

For me, I just think about how easy life will be post debt if its easy financially right now and it keeps me driven. I just want to get to that point where I can build wealth not only for me but my kids future.

[Charles]

What do yall do to stay motivated? I feels great to get something paid off... but its hard to stay motivated when your snowballing and its taking 8 months to pay off a student loan... by month 3 its like god its going down but not fast enough!!! And it gets frustrating!! Its hard to keep going until your at that pointbwhere you notice next month... this loan is gone!!!

I try to keep listening to the radio show and hearing it all as much as possible .. what else have yall done??

At first and can seem to be a grind. Over time you will begin to see bigger results.

My motivation was to provide a better quality of life for my family and I and build wealth.

Keep in mind you didn't accumulate debt over night it took time...It will take time and discipline to become debt free.

[Texastaxi]

What do yall do to stay motivated? I feels great to get something paid off... but its hard to stay motivated when your snowballing and its taking 8 months to pay off a student loan... by month 3 its like god its going down but not fast enough!!! And it gets frustrating!! Its hard to keep going until your at that pointbwhere you notice next month... this loan is gone!!!

I try to keep listening to the radio show and hearing it all as much as possible .. what else have yall done??

I don't think there's an easy answer for this, but for us, it got a little easier every time something got paid off. Just like a diet, most folks get discouraged when they don't see quick results, which ironically is what gets you into debt to start with ... not having the patience to wait and pay cash for something you want.

You just have to THINK about the end result and how much easier your life will be. Looking back, I can't see how we lived like that for so long.

[ducks-and-bucks]

Understood... its gonna be a life changing experiance I cant wait. If I had extra time id do more little side jobs to help make a few hundred more bucks every month but its tough to find a whole lot of time between work, family, house work, and other things that have to get done... I usually get to make a little extra mowing grass here and there every few weeks but thats it..

[Mike D]

What do yall do to stay motivated? I feels great to get something paid off... but its hard to stay motivated when your snowballing and its taking 8 months to pay off a student loan... by month 3 its like god its going down but not fast enough!!! And it gets frustrating!! Its hard to keep going until your at that pointbwhere you notice next month... this loan is gone!!!

I try to keep listening to the radio show and hearing it all as much as possible .. what else have yall done??

I can only speak for my experience but at first it seems like you are barely making progress. But as you get some of the smaller bills paid off and start applying larger and larger amounts to the others and they are knocked our faster and faster, you will get excited to write big checks every month. Then after you are done you write those big checks to yourself. It's an amazing feeling.

It's just like anything else, once you truly put your mind to it and decide this is it, it will a truly become fun. Especially when you call to close credit accounts and they soon and try to keep you from shutting the accounts down.

For me, we were just committed and determined. I listened to Dave every day. My wife didn't listen to the show, but she supported me all the way through the process. It's definitely easier when you have a partner that's on board as well. I would imagine its tougher doing it on your own.

Stay vigilant. I promise its worth it.

[60 Deluxe]

First of all " the plan" as you call doesent cost anything. We are taking the 9 week course & there was no cost to enroll. There was an optional "kit" with the book & other forms & resources. As mentioned before his weekly radio program is also free.

So the question is why would someone choose to pay for those optional resources. Mostly because I wanted some "skin in the game." This is a priority to us & needed to put my money where my mouth was.

If you have debt, you already have skin in the game. Use the money to pay down debt and then build your own spreadsheets. Not knocking Dave or his business at all, we need more outspoken people like him.

[doublearrow]

I think i had several different motivators. One was i wanted better for my family that kept me going. our good friends took the class with us and we kept tabs with each other even stopping each other from making dumb wanted purchases. I also want to be a full time knifemaker. Im a part time 14 days a month maker right now, having debt and two kids being a fulltimer was going to be too tough. Once we get our house bought if i leave or lose my job for any reason i will be able to walk into the knife shop and not miss a beat.