Day 4: Personal Finance Goes to D.C.

Before continuing…if you haven’t already, be sure to start with my post regarding the Obama Administration Budget Proposalfollowed by Day 1 in this series.


 

What if I started a petition through the White House website regarding the Constitutional amendments I suggested yesterdat?  Would you be interested in signing on with me and sharing the petition with everyone you know?  We would need 150 signatures to get the petition into the public search area of the site and then we have to get 100,000 signatures in THIRTY DAYS in order to force a response from the White House.

While it is not the job of the executive branch to propose legislation, this would at least bring our united voices to Washington that we are tired of the same-old-same-old that continues to bury us under a deeper and deeper mountain of debt.  To note, there have been several legislators over the years that have put forth various forms of legislation calling for term limits; however, and most unsurprisingly, they never gain much traction and, from my searching, appear to just get buried in subcommittees where they never again see the light of day.  Shocking, right?

term limits, Jefferson, Thomas Jefferson, collage, photomontage, elephant, JGill, Paul Jacob, Common Sense

So does obtaining the necessary number of petition signatures seem doable?  Also, if you are interested, do you have any suggestions for additions to the petition?  If you are on board, I will get the petition set up and put it in a new post to be shared.  Please let me know what you think in the comments below.


Knowing all of this, is it safe to say, revisiting the words of Thomas Jefferson, that we have effectively been swindled by prior generations?  What breaks my heart is that we continue to do the same to our children and future grandchildren.

God Bless America,

-Frugal RN

 

P.S. – Thank you so much for following along through this series of posts.  Please don’t forget to follow along via WordPress, or with your e-mail in the right-hand column, to ensure you don’t miss any future posts.  My family and I would love to have you along for our journey; have a wonderful day!

Day 3: Personal Finance Goes to D.C.

Before continuing…if you haven’t already, be sure to start with my post regarding the Obama Administration Budget Proposalfollowed by Day 1 in this series.


So how do we go about reigning in government spending, allowing for the opportunity to get ourselves on the path to debt freedom and financial independence?  I would really appreciate your comments on the matter, as well as your thoughts in relation to the options I am about to present.

I believe one step in the right direction would be for the passage of two Constitutional amendments:  1.) limit the number of terms (for life) that any one citizen may hold office as a United States Representative and/or Senator, and 2.) require that budgets be truly balanced (but preferably with a surplus that is then directed to paying down the national debt,) eliminating borrowing being necessary to fund operations.

As we individual citizens do, in our own private households, if we don’t have the money, we don’t buy it…or fund it.  If our credit cards are maxed out and yet we continue to borrow money from Aunt Martha (aka China, Japan, etc.) to fund our extracurricular activities and pet-projects, we will never get back on track to debt freedom.

A FABRICATED balanced-budget amendment proposal, attributed to Warren Buffet, circulated the internet a few years ago after Buffet, during a CNBC interview in 2011, said that he could fix the national deficit in five minutes, stating “you just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election. Yeah, yeah, now you’ve got the incentives in the right place, right?” (Truth or Fiction.)  While Buffet has never seriously and actively called for such an amendment, how is this not a good idea?

If politicians know they’ve only got a set amount of time in office, they could focus on accomplishing things that are beneficial to the country as a whole, as opposed to focusing their efforts on getting reelected.  Limiting the number of terms they can serve would help with this.  While I find the 3% in Buffet’s statement to be too lenient (i.e. I say ZERO deficit,) if you tack on losing the eligibility of reelection if the budget is off, our elected leaders may actually pay more attention to where all of those dollars are going and utilize them more diligently.

government, incentives, flow chart, folly, results, illustration, meme, Jim Gill, Paul Jacob, Common Sense

While I am sure there are good-hearted, well-meaning Congressmen/women out there, by-and-large, the majority seem to refuse to stand up and do the responsible things that need to be done to ensure a strong financial future for our children and future generations.  They are simply too busy pleasing specific groups of people, no matter the cost, to ensure their reelection.  This stresses the importance of educating our children, and every possible person for that matter, in the matters of personal finance so that we may usher in a new generation of leaders who may one day stand up for what is right and have the capabilities of bringing our balance sheets back into the black.


Just for funsies and a chuckle…if you’d like to help get us back in the black ASAP, please utilize one of the following options to make a contribution to reduce the national debt:

  • At Pay.gov, you can contribute online by credit card, debit card, PayPal, checking account, or savings account.
  • You can write a check payable to the Bureau of the Fiscal Service, and, in the memo section, notate that it’s a gift to reduce the debt held by the public. Mail your check to:Attn Dept G
    Bureau of the Fiscal Service
    P. O. Box 2188
    Parkersburg, WV 26106-2188

As of the writing of this post, the national debt stands at $19,007,500,000,000.  Divvied up between the approximately 323,000,000 men, women, and children in the United States, your personal share is currently $59,000…but hurry!, the debt total has climbed another $10 MILLION in the time it took me to type this sentence!  I can hardly imagine how high it has climbed by the time you are reading this.

Maybe I’ll suggest we try this with the next baby I help deliver!   JUST KIDDING!!!


Tune in tomorrow for the final post in this series, where I will be asking for your help, if you’re interested.  If you’ve been following along and feel like I do, I hope you will be.  As always, don’t forget to follow along via WordPress, or with your e-mail in the right-hand column, to ensure you don’t miss the remainder of the series or any future posts.  My family and I would love to have you along for our journey; have a wonderful day!

 

-Frugal RN

Day 2: Personal Finance Goes to D.C.

Before continuing…if you haven’t already, be sure to start with my post regarding the Obama Administration Budget Proposalfollowed by Day 1 in this series.


 

Federal Debt Held by the Public

Graph obtained here.

The Congressional Budget Office (CBO) is an independent, non-partisan organization that analyzes Congressional policies regarding budgetary and economic issues.  According to the CBO, the federal budget deficit this year will rise in relation to the size of the economy for the first time in the past six years.  While it almost sounds good to hear that the deficit had been decreasing, the fact of the matter is that the CBO estimates the 2016 deficit at approximately $544 BILLION – that’s HALF A TRILLION DOLLARS…in a single year.  Decreasing or not, that still leaves us in the red.  This is projected to increase our debt load to about 76% of GDP by the end of 2016, an increase of 2% since last year.  From the chart above, you can see that the debt-to-GDP ratio has, in fact, been higher in the past (i.e. during WWII) but our current trend continues to raise our debt higher and higher, pushing us to a projected 86% of GDP over the next decade.  Overall deficits for the next decade are estimated to total $9.4 trilion with growth of government spending outpacing revenues, as liabilities for Social Security, health care, and interest on the debt continue to grow, further compounding with the addition of more debt.  The CBO report goes on to detail that, if current policies remain unchanged, as that is what their predictions are based on, then our debt will rise to as high as 155% of GDP in the next thirty years.  Please read the full CBO report here; I honestly find it to be more than a little horrifying.

 


Please tune in Monday for day 3 regarding my thoughts on ways to combat the growing problem, in the hopes of reigning in government spending.  Don’t forget to follow along via WordPress, or with your e-mail in the right-hand column, to ensure you don’t miss the remainder of the series or any future posts.  My family and I would love to have you along for our journey; enjoy Valentine’s Day tomorrow.  Give your sweetie and/or loved ones a smooch, tell them all about my blog, and encourage them to follow along!  🙂

 

-Frugal RN

Day 1: Personal Finance Goes to D.C.

Before continuing…if you haven’t already, be sure to start with my post regarding the Obama Administration Budget Proposal.


It is my hope that this will not be viewed as political in nature, as that is not my intent.  I am simply looking to engage others in a conversation regarding the financial future of our great country (the United States) and/or whatever country you may call home.

I do not pretend to believe that what I am about to discuss is some the only possible cure for the financial problems I see ourselves in, and I have no doubt that there are thousands of you who are likely far more intelligent on the subject, with the capacity to present a valid argument against me (and I beg, PLEASE DO!)  That being said, let’s get started…


In the personal finance blogosphere, we often go on about the basic concepts of setting a budget, telling your money where to go, and paying off debt, while also discussing the concept of paying yourself first, whereby not robbing your future self due to frivolous purchases in the present.  Today, I would like to discuss these concepts on a much larger scale.  I’m referring to our country as a whole and, while you may not call America home, I feel that the general theme of this post series may pertain to your home country, as well.


During the early days of America, many of our Founding Fathers believed that debt, while sometimes necessary, should also be remedied as quickly as possible.  America first took on debt during the Revolutionary war against the British in order to secure our independence.  Fast forward three decades, introduce the War of 1812, and our nation’s debt doubled.  President Andrew Jackson, born poor and frugal by nature, took office in 1829 and vowed to finish what his two predecessors had started…pay off the debt…and he did!  He oversaw the successful extinction of the national debt, in 1835, for the first and only time in our nation’s history.  Unfortunately, this only lasted two years, as a “speculative balloon” arose as a result of Jackson’s moving around of national funds in an effort to shut down the Bank of the United States.  He took money from this centralized bank, divvied up the funds between various state chartered banks and, with an influx of new capital, those banks became more liberal with their loan policies, extending loans to speculators who wanted to buy up western land from the government (Housing Bubble circa 2008 anyone?)  In an attempt to limit the damage of this bubble, Jackson put out an executive order stating that government land would only be sold in exchange for gold.  This order resulted in the Panic of 1837 just as Jackson was leaving office, setting off a recession that lasted into the mid-1840’s.  Unfortunately for his successor, Martin Van Buren, the government began borrowing again and our debt has continued to climb to where we find ourselves today (Teaching History.)

Since our country’s incredibly short-lived debt freedom under Jackson, our debt has snowballed in the face of the Civil War, the Great Depression, two World Wars, and the Great Recession of the new millennium.


Tune in tomorrow for day 2 covering the latest report from the Congressional Budget Office regarding their projections for the ballooning deficits to come!  Don’t forget to follow along via WordPress, or with your e-mail in the right-hand column, to ensure you don’t miss the remainder of the series or any future posts.  My family and I would love to have you along for our journey; have a wonderful day!

 

-Frugal RN

Obama Administration Budget Proposal

Before getting started on the coming four-post series titled Personal Finance Goes to D.C., I wanted to have a brief discussion regarding the latest budget proposal that just came out of the White House.  Tuesday morning, I awoke to an Associate Press alert regarding the 8th and final proposed budget by the Obama administration.

This record-breaking $4.1 trillion dollar spending bill estimates a $500 billion deficit for FY 2017, with deficits totaling an estimated $6 trillion over the next decade.  Hoping to receive minimal attention, it was conveniently released on the same day as the New Hampshire primary.

The AP article even goes on to state “the Congressional Budget Office says that last year’s tax and spending bill, combined with worsening economic projections, means that deficits will begin a steady march to the $1 trillion mark in a few years. Sooner or later, CBO says, action to curb the deficit is a must, or else it could drag down the economy and lead to a potential European-style fiscal crisis. These problems will be left to Obama’s successor since he and GOP leaders have long since given up on working together to get the deficit under control.”  More to come in the following days regarding the CBO report!

I’m fully aware that this proposal will in no way be the final bill ultimately passed by Congress.  Also, I’m not here to argue the issues and government programs contained within the bill, nor am I going to attempt to pick it apart and say such-and-such program or agency should or should not be funded.  Rather, my purpose behind this post is to ensure that you’re aware of the current goings on out in D.C.  Were you aware of this?  If not, are you paying attention now?  When will the madness end?!?


 

Tune in tomorrow for day 1 of further discussions regarding my perceptions of the problems in Washington, as well as potential remedies to the those problems.  Please follow along to ensure you get all the posts and please participate in the discussion via the comments section below.  I would love to hear your thoughts on the matter, as well as any possible solutions you have in mind.  I sincerely hope you enjoy and are inspired to comment as we go along.  Thank you and have an amazing day!

 

-Frugal RN

Bill Wednesday & How We Budget

How do we budget?  Honestly, we don’t really.  Not anymore.  Dave Ramsey says you’re supposed to sit down at the beginning of every month and make out your zero-based budget for the month ahead.  Every.single.month.  If that works for you, AWESOME!  I honestly don’t have time for that crap.  My time is much better spent playing with my son.

We started out with Ramsey’s budgeting form and, I’m not gonna lie, writing everything out was an incredibly horrifying eye-opener to just how many different places our money was disappearing.  Since that initial written budget, which I folded up and carried in my pocket for the first several months, constantly checking it for areas of fine tuning, things have become incredibly streamlined.

My income is consistent; I work 7 out of every 14 days – 80 hours + 4 of scheduled OT due to working 12 hour shifts.  With my night and Sunday differential pay, I can (and have, of course Smile) calculated with incredible accuracy how much I gross and net for an entire year.  Divided by 26 (as I am paid biweekly,) this tells me what my base paycheck will be, assuming I don’t work any extra overtime…which I do from time-to-time.

Within a couple months of starting, we switched our budget over to a Word document to provide for easier tweaking, ongoing updates, and less paper waste; we put my base monthly net income at the top and line-itemed our expenses:  utilities, cable/internet, cell phones, my wife’s Wells Fargo student loans, my wife’s federal student loans, and car insurance.  These are the only things that HAVE to be paid from my net income.  I work for the Department of Health and Human Services and we live in a house within a couple hundred yards of the hospital.  It’s awesome!  I get to walk to work and, with my employer being my landlord, rent is taken out of my paycheck.  Never seen, never missed…and I don’t have to write a check.

I love automaticity!

For instance, we had to modify Ramsey’s idea of a cash envelope system due to the fact that we live in the middle of nowhere and the closest branch of our primary bank is an hour-and-a-half away.  That’s not overly conducive to getting cash on a regular basis…unless we want to pay ridiculous fees at competitors’ ATMs.  News flash…we don’t!

Enter Ally Bank.  An online-only company, they offer interest-earning checking accounts (among other services), and have an awesome phone app that also gives you the ability to make deposits for FREE just by taking a picture of a check!  This feature is awesome!  My primary bank charges a fee for this service.  For our “envelope system,” we have three accounts with Ally:  Food/Gas/Clothes, Emergency Fund, and Vacation.  Next, we take advantage of payroll allotments and our budgeted food money is direct-deposited into our Food/Gas/Clothes account and, instead of relying on going to an ATM for cash, we use the debit card associated with that account for our grocery shopping…although we are sometimes bad and utilize other money, as well Disappointed smile.  FYI…another awesome thing about Ally is that, although we haven’t used this feature, you can withdraw money from any ATM in the country and they will reimburse you for any fees charged due to the fact that they do not have any brick-and-mortar locations or ATMs of their own.  *Please note that I am in no way, shape, or form compensated for this…Ally has truly been an excellent addition to our financial lives!  What we have done with them is nothing special, as there are numerous options with a multitude of banks out there.  This is just what is working for us.  Take it as you may.

A second automated item I put in place was our Jeep payment.  After some research, we refinanced it, cutting our rate of 4.5% in half to 2.25%, with a credit union I found that I qualified for as a government employee.  The next thing I did was set up a savings account with the credit union, a payroll allotment to that account every other Friday, and that amount is then applied to our Jeep the following Monday.  The greatest part of this, even better than not having to do ANYTHING from this point forward, is that paying it biweekly is going to save us a couple hundred bucks in interest!  Double win in my book!

Now I’m sure you’re thinking we’re dummies for buying a brand new car; in our defense, we bought it in February of 2014, long before our personal finance enlightenment.  We don’t feel bad though…we had wanted a Jeep Patriot for a couple years, absolutely LOVE IT, and it’s the car we brought our son home in from the hospital.  Also, as we’ve told him numerous times, as he showers the back seat with Puffs (aka baby crack), we are never selling it and he will be inheriting it when he turns 16.  Maybe…I really love it!  I completely understand the financial reasons to not buy a new vehicle but, I’m gonna be honest, we’ll likely do it again in the next few years Disappointed smile.  I’m saying it here so as not to be called a hypocrite laterSmile.  More on that future purchase later.

Wanna know another way to save yourself a few bucks?  We have our car insurance premiums set up on a 6-month pay plan – the insurance company gives a discount (I think it’s about $40) for not having a monthly payment plan.  Well, I don’t know about you, but I find it to be an irritating pain in the rear end to come up with the 6 month premium when it’s due.  So, what we started doing about four months ago is we divvied up the premium by six, plugged it into our monthly payment system, and send the amount to the company as if we were on a monthly payment plan, while still saving the money by not actually changing the pay schedule with them.  For the first couple months, they were sending us refund checks, which I simply shredded.  When I called them to ask if this could be stopped so as not to waste the paper, I was told that it was an automatic, computer generated thing that couldn’t be messed with; however, we haven’t gotten a refund check in a couple months and they keep accepting our online bill-pay transactions…so I’m calling it a win!  *Funny note…the customer service rep I spoke with and explained what I was going to do had a little *ah-ha!* moment and said that she would be starting to do the same thing.

Let’s see…what else?  We cancelled cable back in April.  We made a list of the few shows we really enjoy watching and discovered that they are all available on Hulu or on the internet.  Even though they’re available, we haven’t watched the internet-only shows in months.  Hulu is $7.99 a month and includes our favorite shows; we have also been utilizing my grandparent’s Netflix account, for FREE!, for the past few years.  Guess what?  We don’t miss cable in the least!  And better yet, taking into account the cost of Hulu, cancelling cable saves us $90 a month!  I wish we could save money on internet access but, unfortunately, that’s monopolized around here.  The service requires a home-phone line, which is a complete waste of $11 every month, and equipment rental is tallied into the cost so I can’t save us anything there either.  FYI…if you haven’t already tried Hulu and are considering it, please consider clicking on any of the hyperlinks in this paragraph.  If you sign up through this link, you’ll be gifting us with two FREE weeks of service and we would be forever gratefulSmile.

That takes care of all the changes that we have implemented over the past year that I can think of right now.  Now for the actual bill paying.  We call it “Bill Wednesday.”  I get paid every other Friday; at midnight Wednesday morning, I can check my paystub.  From that, I write my net pay in my checkbook and then look at our budget.  In the far-right-hand-side of the document, I list out the dates on which my paychecks are coming and, beside each biller, I list the number of paychecks that I will receive before the bill is due again.  I don’t pay each biller on the same day every month; instead, I pay them on a revolving basis.  This allows for no single check to be devoured by multiple bills all at once.  Sometimes, a few billers may get paid, while other times, only one.  Once the obligatory bills are handled, the remaining money is snowballed toward our debt.  We usually hold on to a couple hundred bucks for incidentals, but otherwise it goes to work eating away at our debt.  So, once I get my paystub on Wednesday, I schedule all this through my bank’s online bill pay system to send out the payments the following Monday (after payday) and, just like that, I’m done.  As long as I’m not being my usually nerdy self and calculating, refiguring, or rebalancing our data, I can be done with our bills in a matter of minutes.

Our process takes any and all stress out of our financial situation and decision making.  My wife and I never argue about money.  She has, very rightfully, called me out for some dumbass decisions.  However, 99.9% of the time, we’re too busy throwing up high-fives at our debt ass-kicking awesomeness.

Frugal RN

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Please Please Please…If you find yourself struggling with debt, budgeting, or would like to talk about changes you can make in your own life, reach out.  We still have a lot of work to do in our own family but even small changes have made an impact on our situation.  I would truly love to talk to you and help in any way that I can…or hear about ideas you have that may be of benefit to our family, as well.

_________________________________________________

Dave Ramsey

Personal Finance = 80% behavior and 20% head knowledge.  I can agree with that; while I have learned A LOT in the past couple years, I believe I’ve always had the general idea of what should be done with money…I just never did it.  My dad would always try to get me to save my money growing up, even telling me that he would match me dollar-for-dollar on larger purchases if I did my part of the deal first.  This literally NEVER happened.  Money burned the proverbial hole right through my pocket and was typically gone about as quickly as I could get my hands on it.  I was constantly buying worthless crap like the boxes full of baseball cards currently sitting in my parent’s attic.  Sure, I’ve got a few that may be worth a couple bucks, but I can’t even imagine how many hundreds of dollars I’ve wasted throughout my life.  Unfortunately, those habits carried over into my late teens and early twenties, and it wasn’t until I started working as a nurse’s aide during my first year of nursing school in 2010 that I began developing my retirement portfolio as it stands today.  My first retirement investing came in 2006, in the form of buying payroll-deducted stock in Walmart while I worked there during my first two years of college, obtaining an Associate’s degree that isn’t worth a hill-of-beans anymore.  After graduating from that program, I started a brief stint as an insurance salesman in 2007, eventually having to cash in my savings to pay back some income received on policies that were dropped after purchase.  Anyway, investing as a CNA rolled over into my first nursing job and has since carried over into my current position with the federal government.

After reading Dave’s books around the time of our son’s birth in September of 2014, my three recommended readings are The Total Money Makeover, Dave Ramsey’s Complete Guide to Money, and Financial Peace.  These books offer an excellent beginner’s step-by-step introduction to personal finance and a simple approach to get yourself out of debt.  The seven baby steps are in plain English and easy to understand; while I’ll be the first to admit that we haven’t followed them precisely and actually got away from them over the past year, we are revisiting and working them back into our lives, especially the idea of the debt snowball.  If you’re looking to get out of debt, have no clue how to go about doing it, and haven’t read Dave’s books, I encourage you to do so.  Before beginning, it is important to develop your zero-based budget, whereby you “tell every dollar where to go” – i.e. your take-home pay minus your outflow (bills and/or savings) equals ZERO.  The Monthly Cash Flow Plan form can be downloaded and printed out from the following website – https://www.daveramsey.com/budgeting/how-to-budget/.

After you get your budget hammered out, the Baby Steps are as follows:

Step 1)  Save $1000…FAST!  Pay only minimum payments on your debts to stay current on your bills and throw every other extra dollar into cash savings for your starter emergency fund.

Amazingly, we were ahead of the game on this.  We had bout $3000 in cash saved at the time and, although Dave would’ve had us fork over two-grand to debt, we couldn’t handle the thought of parting with that cold-hard-cash.

Step 2)  Debt Snowball time…it is incredibly fun and exhilarating to start scratching debtors off your list!  This list is to include every debt you have, with the exception of any mortgage you may have on your house.  You can read about Dave’s advice on mortgages if you are inclined to do so.  During this time, according to Dave’s advice, you should not be contributing anything to your investment accounts.

20151224_221029.jpg

Our Credit Cards after the Plastectomy

Since we started on this step, we started by having a “plastectomy” and cut up our credit cards.  Afterwards, I listed out our credit card debts on a Word document and kept track of every payment we were making, scratching them off one-by-one until they were annihilated.  I still have that list at the bottom of the Word document I use as our budget and still get a kick out of looking at it Smile.  It should also be noted that I couldn’t completely agree with Dave on the no-investing advice.  I kept my TSP contribution through work at %5 in order to get the matching contribution.  I couldn’t wrap my brain around turning down free money.  What you do with that decision is ultimately up to you.  Also,we don’t have a mortgage, as we are renting (AND LOVE IT!)  Additionally, we still have our Jeep payment, which we bought NEWDisappointed smile prior to learning these newfound principles of personal finance.  However, throughout my learning process, we reevaluated our situation, refinanced the Patriot from 4.5% to 2.25%, and continue to pay a little bit extra each month, while primarily focusing on my wife’s student loans. 

Additionally, I love my job and am incredibly fortunate to be a Registered Nurse working for the Indian Health Service, a division of the Department of Health and Human Services and, due to working and living where we live, my 50+ THOUSAND DOLLARS worth of student loan debt is being repaid with my ongoing time commitment.  I couldn’t be happier to have that weight off our shoulders and, if you’re reading this and interested in the IHS Loan Repayment Program, I would love to talk to you more and point you in the right direction, so please reach out to me.

Step 3)  After all debts, excluding your mortgage (if you have one,) then you finish building your emergency fund, suggested to be 3-6 months work of expenses.

Sadly, we haven’t gotten to this step yet.  As mentioned above, after getting our credit card debt out of the way, we slacked off  on the debt snowball and I began ramping up our investing.  This came about primarily because I began reading several early-retirement blogs that got me more interested in the idea of doing just that…retiring early.  Therefore, over the course of a few paychecks, I ramped up mine and my wife’s Traditional IRA contributions (through payroll allotments directly to E*Trade = NEVER SEEN, NEVER MISSED Smile) to come out to just shy of the maximum annual contribution and got my TSP contribution up to 15% of my annual pay.  I would’ve had to upped it to about 28% to max it out but we hadn’t gotten that high yet.  I only recently brought investing back down to the prior %5 with no IRA contributions in November, in order to refocus on demolishing my wife’s student loans – progress of this will be further detailed in a later post.

Step 4)  With a fully funded emergency fund, then you up your retirement investments to 15% of your pay.  Dave provides further details regarding how this should be allocated in his books.

Step 5)  Start funding your kid’s college fund, if necessary.

Step 6)  With steps 1-5 complete, then you throw every extra dollar at your mortgage until it is gone.

Step 7)  Get rich and spend your time trying to give it away to help as many people as you can.

There your have it.  Please note that I’m in no way affiliated with Dave Ramsey, receive absolutely nothing for my opinions, and accept no liability with regards to the information in this post.  I just want to put the information out there, encourage you to see if his methods can have a positive impact on your financial situation, giving you a place to start making changes in your family tree.  While my wife and I veered from the path for a little while over the past year, we are working on getting back on track, and I’m here to tell you, at least from this guy’s perspective, the system is working.  Just for a little perspective, we got back on the Debt Snowball on November 9th and, in just 44 days, we have paid off $3000 of my wife’s student loans!

While we haven’t followed Dave’s plan to a T, we have altered our finances in many positive ways, thanks in  major part to the ideas and principles he has put forth.  We have taken them, tweaked them to fit our situation, priorities, and goals, and could not be happier with the path we are on.  Our son will be forever fortunate that we have implemented the changes with regards to our money and he will be immensely benefited by the knowledge that we will have the opportunity to instill in him, thanks to Dave Ramsey and the numerous personal finance blogs that I now follow on a regular basis, all of which, as previously stated, will be discussed in a later post.  Thank you for reading.  I hope you have learned something or, at the very least, gotten the spark to do your own research and look further into how you may benefit from implementing these ideas.  Please reach out to us to discuss anything.

Merry Christmas!

Frugal RN and Family

 

“IF YOU WILL LIVE LIKE NO ONE ELSE, LATER YOU CAN LIVE LIKE NO ONE ELSE.”

– Dave Ramsey