This is the guy who helped us become Debt Free! Visit his Website and listen to his radio show. Buy his books and take his classes. It will change your financial future.
"Why become Debt Free in the first place, It doesn't make any sense to me."
This is what I thought some Eight years ago when I first heard Dave Ramsey on the radio. I was driving my leased car and paying four mortgages. I figured me and my wife were doing pretty good and looking at our Debt was the last thing on my mind.
The next day I woke up and had one of those "Ah Ha" Moments. I realized I was getting up at 5:40 am (I still get up at this time) putting on my boots and working my butt off each day for the banks. I wasn't working for me since we were paying about $4,500 in interest every month on all of our mortgages and car payments. We were essentially working for the banks and would be doing so for the next 30 years. It was a very depressing moment for me.
So I started to really listen to what Dave Ramsey was saying. It started to make more and more sense. This wasn't going to be easy for sure but if we wanted to stop working for the banks and start working for "us" it would take Herculean effort on our part. So we sold one of our three rental properties in 2007. That got rid of a lot of the mortgage debt we were carrying. We started to throw everything at the debt, no vacations, no eating out and a very tight budget.
When we had our Son in 2008 we had $205,000 left to pay off. My wife wanted to quit her job and stay home with our son (she is still at home and not working) which was a good decision but a tough one. That left just my income and some rental income.
So from May 2008 until August of this year we slowly paid off the remaining $205,000. That averages out to about $2,800 a month for the last 6 years. Not easy. Not fun. Lots of problems. Lots of money fights. But well worth it.
I'm just a Pool Guy. If we can do it you can do it too. What does it take? It takes dedication, sacrifice, setting goals, fighting your doubts and wanting to be a winner at all cost. It's not easy but it beats the alternative. Spending your whole life working for the banks.
Start listening to Dave. Buy his books. Do it. Become Debt Free!
Where are we today:
Completely Debt Free as of August 2014 with three paid for houses in Los Angeles County. Working for us now and paying it forward.
Thank You Dave Ramsey!