I'm reading one of his books and trying to figure out where we can start to dig ourselves out of this gigantic whole we are in. I've read about half the book and so far I already get what he's saying, but I haven't gotten to any place where it tells me how to do it. We can't even make our minimum payments right now, so I'm trying to figure out how we get on track with his plan. I tried going to his website, but from what I saw you have to have paid for his program or something to get on certain areas. We have called a few of our cards and tried to work out a lower payment with them. Right now dh has put in his resume to go do brick masonry in Iraq, which I'm not totally thrilled about him doing that, but we could probably pay everything off except our mortgage in the year he'd be gone. I really don't even know if this is a possibility or not. Right now me getting a job isn't an option because of homeschooling/therapy stuff with the baby. Dh could possibly get a 2nd, but his hours change often and he can work anywhere from 2 hours away to 15 minutes away, so.... I'd appreciate some more personal insights regarding his stuff.
thanks!
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Teresa
Homeschooling Mom to Zachary, 9, Brianna, 6, and baby Issac, 1
You can go to llnoe.com for lots of advice. It's a free forum based on his ideas. Basically, DR would say you have an income problem if you can't pay down the debt at all right now, so someone has to bring in more money.
I did go online, but when I went to the message boards it said I had to be a member of his financial freedom deal or whatever to get on. I found some posts I could read, but honestly it wasn't information that really helped me. We are having an income problem due to the economy here.
thanks
llnoe.com is different from the official Dave Ramsey site. A lot of the people who were at his site when it was free now post at llnoe. It's full of great ideas, and there's no charge.
I just read Total Money Makeover, and this is what I got from it.
If your expenses are greater than your income, you have two options:
1. Increase income
2. Decrease expenses
If you don't do one or the other, you can't start digging yourself out.
He suggests ways to do one of these two things, such as getting extra part time jobs. Or, one of the biggest things he suggests is getting rid of cars with payments and buying a car (cheap car) with cash. In an extreme situation, he would suggest selling your house, for instance, if you are house rich but cash poor. You could get equity from the house, or if no equity, maybe you could rent at a cheaper cost than your house payment. The point is that you have to get creative and figure out a way.
Hopefully some of these things could be an option for you.
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Laurie, wife to Sean, Mom to 2 boys and 2girls!
My dh, on his way up
Mount Washington in New Hampshire (summer vacation), and my kitty, up in a tree.
Last edited by lauriemama : 09-24-2008 at 05:29 PM.
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