Someone I know mentioned to me ,they don't know about the BK, but know I paid off a lot debt, following Dave Ramsey's advice. I was happy that I only have a small HELOC and a car payment. We also owe the IRS but I did not offer that info to the conversation. Anyway I am so happy we got through BK and paid off 100% with almost half of my take home pay going to the trustee, plus we still had to pay the Mortgage, HELOC and two car payments during that time period. Really it might been my WHOLE paycheck going to the debt!
Ok got off on a tangent.
I remember someone in this forum commenting at some point they didn't care for Dave Ramsey.
I started to listen to his podcast and then downloaded one of his books (free) from the library.
I do not feel husband and I would fit into his plan, but I think there's helpful hints.
I have been trying to get a budget together after going on a meager spending spree after getting a whole payment for the first time in about 40 months. We bought a modest gas grill and a few other items.
Back before my debt got out of control I belonged to an online group we used different techniques some sound like Ramsey then there were a few other financial/get out of debt type people.
Right now it sounds like a good idea:
But now I have thought ok, what's the priority.
I do not want to charge anything except the monthly cable I will most likely put on a credit card just to help build credit.
If I can get the 6 points above in action then I can think about getting rid of "all debt." The HELOC is just over $7,000 I could add a little extra there and then when that is paid off "SNOWBALL" some of that money into the car payment. I was really hoping to have only ONE car payment when hubby retires from his full time job and he plans to retire whether we can afford it or not, but he will work part time. He has a decent pension so our income will still be higher than what we lived on during the BK years assuming my income stays the same.
My immediate goal is to figure out a budget monthly vs irregular/regular expenses. And to stop the spending spree since we do have to pay for the garage roof ASAP. We already have $2,000 towards it, but he didn't want any downpayment and just said pay within 30 days. As for our situation with the city. The yard is almost totally cleaned up a neighbor is going to take the wood for fires and I am going to ask for an extension for painting the garage to get it sided, need to get a quote on that. I am going to try to get it extended thru next spring, If they really want it painted hubby and I will do a half a$$ed job, nice neighbor offered to help 'slap some paint on'
Ok got off on a tangent.
I remember someone in this forum commenting at some point they didn't care for Dave Ramsey.
I started to listen to his podcast and then downloaded one of his books (free) from the library.
I do not feel husband and I would fit into his plan, but I think there's helpful hints.
I have been trying to get a budget together after going on a meager spending spree after getting a whole payment for the first time in about 40 months. We bought a modest gas grill and a few other items.
Back before my debt got out of control I belonged to an online group we used different techniques some sound like Ramsey then there were a few other financial/get out of debt type people.
Right now it sounds like a good idea:
- MONTHLY budget
- REGULAR IRREGULAR budget: the taxes that happen once a year or the property taxes twice a year or the dog food on autoship every 9 weeks or eye glasses we buy once a year, husband has special prescriptions so even with insurance it's twice the cost of mine, etc and set up a FREEDOM account which is a checking account you put money in each month so you can pay these expenses when they are due.
- EMERGENCY account: Ramsey says $1,000 to start. I would feel better with a little more than $1,000.
- 3-6 MONTHS of LIVING EXPENSES
- SPENDING MONEY: set an amount for hubby and myself and take cash for the week. I would still use a debit card and track it. Husband always has preferred cash for the week to buy food/snacks or a 6 pack
But now I have thought ok, what's the priority.
- New garage roof must be paid off by the end of July--that's almost $4,000.
- IRS payment plan ? needs to get set up, do we hustle and pay it off early, I say YES if possible.
- Husband's car, that will be new debt.
- Emergency account/Living Expenses account
- Dryer: I am frickin tired of washing small loads and hanging clothes to dry and if I buy a dryer I will also buy a washer
- Retirement: I need to get moving on the 401K for myself
I do not want to charge anything except the monthly cable I will most likely put on a credit card just to help build credit.
If I can get the 6 points above in action then I can think about getting rid of "all debt." The HELOC is just over $7,000 I could add a little extra there and then when that is paid off "SNOWBALL" some of that money into the car payment. I was really hoping to have only ONE car payment when hubby retires from his full time job and he plans to retire whether we can afford it or not, but he will work part time. He has a decent pension so our income will still be higher than what we lived on during the BK years assuming my income stays the same.
My immediate goal is to figure out a budget monthly vs irregular/regular expenses. And to stop the spending spree since we do have to pay for the garage roof ASAP. We already have $2,000 towards it, but he didn't want any downpayment and just said pay within 30 days. As for our situation with the city. The yard is almost totally cleaned up a neighbor is going to take the wood for fires and I am going to ask for an extension for painting the garage to get it sided, need to get a quote on that. I am going to try to get it extended thru next spring, If they really want it painted hubby and I will do a half a$$ed job, nice neighbor offered to help 'slap some paint on'
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