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Finally getting dh on board w/ Dave Ramsey - what would you purchase

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we use to get started in the right direction? Or do we even need a book? Also, dh wants to get his software that shows you how to actually *do* a budget and shows where your spending is actually going. Do we really need that? I'm not in agreement on spending more money to get out of debt. I'm for finding the cheaper route to get started.





Edited by MJN
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We just checked out his book The Total Money Makeover from the library, kept it for as long as we could, took good notes.:) We also had his show on the radio here at that time, so listening to him was very helpful- I think you can listen on his website now?


Good luck and congratulations!!!

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I'm not sure what you mean. Why do you need to purchase anything? (And isn't the idea to stop purchasing--;)?)


I second the Total Money Makeover... from the library!


Honestly, if you are not averse to spending a bit up front, and dh is willing, you might want to find a location in your area to participate in the class (Financial Peace, I think it's called). DH and I have not done so, but it may be helpful for keeping the two of you united in the effort, and it may provide a cheering section as well, since you won't be doing it all alone. The class is the only thing I might even consider spending money on, you really can do it all for free.

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spending money is not neccessary. However, I would recommend getting the The Total Money Makeover. Our library hold was way too long, though. So we ended up buying it. I don't know if the budgeting software is necessary. We use a program on the iphone. But if DH is just on board and wants to use it, I'd let him go for it. We just finished BS 2. We would have finished 6 mos ago had we done everything correctly. Staying on the budget was the hardest thing to get in the habit of. Anything that simplifies that- if you can buy it with cash- would be fine.

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next in line, so it'll be 3-6 weeks before I get it. :-( I will ask around to see if someone has a copy they can lend me, but any recommendations on what we can do in the mean time?


Very first thing? Realize that you'll never change your debt situation if you don't first change your attitudes and spending habits. You've got to be willing to cut up credit cards and be done with financing. That is truly the first step, to be prepared mentally.


You can look on the Dave Ramsey web site for the 7 Baby Steps and start to follow them.


Step 1, put $1000 in an easily accessible location to start your emergency fund. This can be anywhere safe, from buried in the back yard with your big dog guarding it to a liquid bank account. The purpose of this fund is not for earning money on an investment, but for having ready cash to be prepared for a true emergency (unexpected trip to the doctor, car breakdown).


Step 2 is pay off all debt except for the house note. Set up a plan according to the "debt snowball" system and work like a fiend to get it all paid off. This is the biggest beans & rice phase, no fun til the debts are done! Well, you can have fun, but it has to be the free variety. His site may explain the debt snowball, or google it. It's definitely covered in his books.


Step 3 is to get your emergency fund fully funded with 3 to 6 months of expenses in an accessible savings account.


Step 4, invest 15% of your household income in Roth IRAs and pretax retirement plans.


Step 5, college funding for your kids.


Step 6, pay off your home early.


Step 7, build wealth and give!


Hope this helps.

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The books you can probably find 2nd (or 3rd) hand for cheap since they've been out for years.


Oh, this just made me think of it - when dd and I were last out book hunting, we stopped at Goodwill and there were several copies of it there for just a few dollars. You might check your local second hand shops as well.

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I agree with borrowing TTMM for the first read, but I sure do pull mine out often and reread sections. I'm glad that I own it.


Someone else upthread mentioned listening to his radio show on his website - I download his show onto my ipod then listen to it while driving to work and back (160 miles once a week). That has helped me stay focused more than anything.


Also you can go to his website and download the budgeting forms for free. Also you can enter you budget on his TTMM site and work from it month to month. It's a very helpful site.

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Just about everything I know about DR, I learned here:




We were already on our way to being debt-free by the time I'd heard of his method, so there wasn't too much there that could get us further that we already were. However, I found the support there invaluable. What these forums are to me for HSing, those forums were to me for frugality and financial sense. Lots of help there!

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We've just started this.. but I wanted to share a free excel spreadsheet to use to figure out your debt snowball which is talked about in TMMO. I was so tempted to subscribe to the website.. but even $10 a month right now (since I put all our income and expenses into Quicken, which I have had for a few years but didn't use any more) was a lot, and went against trying not to just stick things on a credit card. Here is the one we downloaded:




I love it because you can play with different payments and extra amounts above minimum payments and it tells you the total interest you will pay and the month you will pay off each card. This one also lets you choose the order in which to pay off cards, like to see the difference between paying off the lowest balance first like Dave Ramsey recommends and paying off the highest interest first which makes more sense financially. (not a judgement about which to choose - you can just look at it and see which is better for you)


Also there seem to be free budgeting spreadsheets out there, check that out before buying anything.


Good luck. We feel so much better since we started tracking things. I like Quicken because now that all our bills and paychecks are in on different days of the month I can see how our checking account balance will fluctuate each day of the month. I can also experiment with different grocery budgets - I just put the amount in for once a week and see if our bank account will stay in the black or not. We have the 2006 version of Quicken and it still works great and I can still download bank and credit card statement info from the bank websites. So even though we only have $100 a week for groceries, I feel better that I know we won't bounce checks or be late with payments and I can see that even a few extra hours from my part time job can make a huge difference.

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