Doing a budget has decreased our spending Within the past few months my wife and I have started doing a zero based budget where every dollar is allocated before it comes in. When the paychecks are deposited each and every dollar is assigned a job, whether it be paying bills, groceries, personal spending money or […]
Reader Question: Is It A Good Idea To Get A 401k Loan To Pay Off Debt?
I had a question posed to me this week about 401k loans, and whether they were a good idea. The person said they were considering using a 401k loan to pay off some higher interest credit card debt. The rationale behind doing this was that they’d rather pay themselves interest than the credit card company, […]
A Way To Control Spending: The Envelope System
This past summer my wife and I took a class called “Financial Peace University“. The class is built around the teachings and personal finance framework put together by Dave Ramsey. Ramsey has made it his career goal to help people take responsibility for their financial lives, get out of debt, and save for their future. […]
The Looming Credit Crisis: Another Reason To Live Without Credit And Debt
What do you think about the looming credit crisis? Should the companies be tightening standards and keeping spending limits lower on the cards they give out?
Car Shopping DOs And DON’Ts
I am in the middle of looking for a new (used) car right now, and was looking for advice on the Dave Ramsey site in regards to buying a used car. I thought some of the information might be helpful to all of you out there, so I thought I’d share it here. Text below […]
Dave Ramsey’s Financial Peace University™ – Program Review
I would recommend The Financial Peace University™ class put out by Dave Ramsey to just about anyone who is interested in getting their finances under control.
Bankruptcy, Not Bailout?
Many are saying that if we don’t come up with a bailout package, that the economy will crash because of the lack of credit available to companies and consumers. Others are saying that a bailout of struggling companies by taxpayers isn’t a good idea either, and that a plan involving insuring the troubled assets would […]
I Guess I Spoke Too Soon!? No Deal on $700 Billion Bailout.. Yet.
Yesterday I posted the news that we had all been waiting to hear. Congress had finally come to an agreement and had settled on a bailout deal to help jump-start our faltering markets. The price tag? A mere $700 billion dollars. At the announcement of proposed deal the Dow Jones industrials enjoyed a 196-point gain […]
Still Think Credit Card Companies Aren’t Evil? Read This.
News flash – credit card companies are not looking out for your best interests A common theme that I have on this blog is that credit card companies are never looking out for your best interests, and you need to make sure you always keep a wary eye on them. Think those rewards cards have […]
A Biblical Look At Debt
This is an article written by Bob Brooks over at prudentmoney.com. Bob has a great website, blog and radio show weekdays from 3:30 to 4:00 pm on 91.7 FM KVTT (Dallas/Fort Worth, Texas). Check out his website and radio show podcast now! Subscribe to his feed here There are many people who are faced with […]
7 Things You Can’t Do If You Want To Stay Out of Debt
Being debt free is great, but be careful or it won’t last! My wife and I paid off our last debt, a student loan, just over 2 years ago. It was such a freeing feeling to finally be debt free (except for the house) and we vowed to never go in debt again. The problem […]
To Debt Snowball or Debt Avalanche, That Is The Question.
I‘ve been reading a lot lately about how one method or the other is best for getting out of debt. There are a ton of programs being touted as “the best”, and I do think some probably work better than others. So what do I think is the best? Which Debt Reduction Method is the […]
Personal Finance Bible Verse of the Day: Do not borrow
For the Lord your God will bless you as He has promised you, and you will lend to many nations, but you will not borrow; and you will rule over many nations, but they will not rule over you. Deuteronomy 15:6 Another scripture that stresses the importance of not going into debt. We are told […]
Dave Ramsey’s Financial Peace University: Week 13 – The Great Misunderstanding
Last Week – Real Estate And Mortgages Last week was week 12 and we talked about real estate – buying homes and selling homes. Things we touched on: When selling a home, think like a retailer. When buying a home, think like an investor. Never get more than a 15-year fixed mortgage. Don’t tie up more […]
