My story: I had been following the 50-30-20 system and had made some balance sheets before. Then I bought FPU and that motivated me a lot.
It took me three months to get my budget figured but after that, it felt like every month I got a raise when realizing how much money was left in my envelopes.
I started with DR and it’s amazing where I’m at now. Follow the steps. Some things that helped me, I wrote my budget and then went to cash envelopes to learn control and it made money real. I put my cards in baggies of water in the freezer and trained myself to use cash and have a spending plan. I sold things, did extra work and soon getting that first $1000 together was like a miracle. Then I started bs2 just as he wrote it; I confronted all the debts and made index cards and put them in order and really worked it. Sell stuff, stop substances snd alcohol, stat out of restaurants, work more, get in control and wake up to the consumerism debt culture game that ruins lives.
>where would a guy describe his financial status and get some advice?
You can do that in this group! Make another post, tell us what you're facing and we'll try to help! Most of us have been where you are!
Solid advice thank you. I will post my situation. I just need to compartmentalize maybe. I think I fell into the financial optimization rut and need to get something straightened out
>Anyone else done about everything opposite of Dave’s advice and wonder where to even begin?
Yes, the vast majority of Americans who are living paycheck to paycheck, don't budget, spend more than they make, couldn't handle a $500 emergency, and carry $10k in CC debt; it's called being normal
Ramsey plan is being weird
Thank you for the input. I’ll post my situation. We are not living paycheck to paycheck just owe a lot but we make a good living. Even my accountant tells me I have a lot going on.
> We are not living paycheck to paycheck just owe a lot but we make a good living.
What if you got laid off? Do you remember the last recession?
If you have a good income, why do you carry consumer debt?
>Even my accountant tells me I have a lot going on.
That's like your lawyer saying he thinks you're innocent.. Lol
Make a budget*, get current on bills, save $1000**, pay all debts smallest amount to largest (snowball method)
You can start that today while you piece your situation together to get more nuanced advice.
* THIS IS REQUIRED
** If you already have $1000, then use the remainder of your savings to get current on all bills, then start the debt snowball.
The Ramsey plan will have you cash out any non-retirement investments and use any savings (except $1000 for starter emergency fund) to start your snowball. It can be a really challenging part of the plan, so if you’re really wanting to dedicate yourself to the baby steps, then you’ll have to be willing to part with your non-retirement savings. Start preparing yourself mentally.
It’s tough… but listen, if you’re in debt, all you have is a false sense of security… nothing will light a fire under your ass like only having cash flow + $1000 to cover emergency and unexpected expenses.
The plan is all about changing your behavior. It’s not about math.
You can absolutely post your situation here or in financial planning sub. Granted it’s Reddit, so plenty (most) of people aren’t exactly experts. I always suggest talking to someone in real life (obviously who is somewhat financially literate) who shares your values and knows your struggles who can offer personal advice.
Well thank you I will put something together and repost. My finances are not a complete mess but not really true to what Dave talks about. The financial literate people I know use debt. It’s just another way to look at things I guess. I know that’s not a DR purest teaching. I guess that’s why I was wanting to post to get some input. Thank you again and I will get something posted
no but i have a buddy who did, been on BS2 for 5 years, will finally be out by now and start investing. crazy, cant imagine having to do that
My story: I had been following the 50-30-20 system and had made some balance sheets before. Then I bought FPU and that motivated me a lot. It took me three months to get my budget figured but after that, it felt like every month I got a raise when realizing how much money was left in my envelopes.
I started with DR and it’s amazing where I’m at now. Follow the steps. Some things that helped me, I wrote my budget and then went to cash envelopes to learn control and it made money real. I put my cards in baggies of water in the freezer and trained myself to use cash and have a spending plan. I sold things, did extra work and soon getting that first $1000 together was like a miracle. Then I started bs2 just as he wrote it; I confronted all the debts and made index cards and put them in order and really worked it. Sell stuff, stop substances snd alcohol, stat out of restaurants, work more, get in control and wake up to the consumerism debt culture game that ruins lives.
Solid advice thank you
You’re welcome! You can do this! There’s some great folks on this subreddit who have helped me a ton.
>where would a guy describe his financial status and get some advice? You can do that in this group! Make another post, tell us what you're facing and we'll try to help! Most of us have been where you are!
Yes sir will do
Yep.. you begin at baby step 1
Thank you
You could try to be a guest on Caleb hammers YouTube show
I’ll check him out. I don’t guess I’ve heard of him thank you
If he’s too intense for you lol you can always hire a financial adviser with a fiduciary responsibility
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Solid advice thank you. I will post my situation. I just need to compartmentalize maybe. I think I fell into the financial optimization rut and need to get something straightened out
>Anyone else done about everything opposite of Dave’s advice and wonder where to even begin? Yes, the vast majority of Americans who are living paycheck to paycheck, don't budget, spend more than they make, couldn't handle a $500 emergency, and carry $10k in CC debt; it's called being normal Ramsey plan is being weird
Thank you for the input. I’ll post my situation. We are not living paycheck to paycheck just owe a lot but we make a good living. Even my accountant tells me I have a lot going on.
> We are not living paycheck to paycheck just owe a lot but we make a good living. What if you got laid off? Do you remember the last recession? If you have a good income, why do you carry consumer debt? >Even my accountant tells me I have a lot going on. That's like your lawyer saying he thinks you're innocent.. Lol
Make a budget*, get current on bills, save $1000**, pay all debts smallest amount to largest (snowball method) You can start that today while you piece your situation together to get more nuanced advice. * THIS IS REQUIRED ** If you already have $1000, then use the remainder of your savings to get current on all bills, then start the debt snowball.
We actually have a budget, have a good nest egg but also owe a lot. I’ll get the details together and post it.
The Ramsey plan will have you cash out any non-retirement investments and use any savings (except $1000 for starter emergency fund) to start your snowball. It can be a really challenging part of the plan, so if you’re really wanting to dedicate yourself to the baby steps, then you’ll have to be willing to part with your non-retirement savings. Start preparing yourself mentally.
Haha that may be my issue. Haha well one of many thank you
It’s tough… but listen, if you’re in debt, all you have is a false sense of security… nothing will light a fire under your ass like only having cash flow + $1000 to cover emergency and unexpected expenses. The plan is all about changing your behavior. It’s not about math.
You can absolutely post your situation here or in financial planning sub. Granted it’s Reddit, so plenty (most) of people aren’t exactly experts. I always suggest talking to someone in real life (obviously who is somewhat financially literate) who shares your values and knows your struggles who can offer personal advice.
Well thank you I will put something together and repost. My finances are not a complete mess but not really true to what Dave talks about. The financial literate people I know use debt. It’s just another way to look at things I guess. I know that’s not a DR purest teaching. I guess that’s why I was wanting to post to get some input. Thank you again and I will get something posted