Also Starting the Baby Steps!

rachelMcK · 07-28-2006, 09:12 AM

I just read about Dave Ramsey the other day. Though I only read his website, the testimonials alone were enough to convince me,so I printed off the 7 baby steps and I'm starting it today!!

Of course, I needed DF on the same track so I started to tell him about it. First I said "I have a way that we can save $1000, pay off our credit cards AND pay off half his student loan by the first of January all while continuing to live as we are, with a $120 living expense". At first he was skeptical but after I explained it, he's completely hooked!! He wants me to go get the book. Unfortunatly its not in the local library so I think I'm willing to spend our entertainment money this week on it! It will be worth it!

I'm so excited to start this. Already, just from change, I have $95 in our emergency fund! It feels great.

But for extra motivation, we have a bet. DF is still skeptical so he said if we have all that done by the beginning of January, I can get the tattoo that I've been waiting 2 years to get (always put it off due to finances of course)!!! If it doesn't work out, I owe him a seafood dinner! I'll give it to him anyway since I love him!

Oh I'm so excited, so do you guys have any tips?

Thanks

pammy · 07-28-2006, 09:35 AM

A baby-stepper here, too. *waves*

I admit, I stumbled upon his site and was so excited I bought the book right away (see, not so frugal *shakes head at self*). Couldn't put it down. Been doing his plan ever since.

I like the bet, extra motivation. Good job. Nothin wrong with a reward to reach a certain goal, that's good!

You'll find many, many tips here about ways to cut costs. There's lots of books out there, too, just start reading and implimenting them one at a time. It works, it really works.

Been doing this for 10 months now, what a major difference!! The biggest for me is the budget and going on a cash system. Nothing like telling your money where to go. So much more peace. I love thinking about money and am excited to send in big hunks of money paying thiings down. Funny, I now have more fun paying stuff down than when I bought the thing in the first place, lol.

Definitely try to get the book, maybe even check out Amazon or ebay or something to see if you can find it cheap, if it isn't available at your library (our library doesn't even have a copy).

Best of luck!!

autumnlynn · 07-28-2006, 09:35 AM

I am also working the Dave Ramsey plan. I am currently on BS2. I think that it's great that your husband is on board and that you have $95 saved already for the bef.

There are several of us here working the plan. I know you can do it!! In my opinion TMMO is worth buying. I love it and wouldn't part with my copy.

danni · 07-28-2006, 10:08 AM

Hi from another babystepper!! I love Dave's program and only wish I'd heard of it early. Congratulations on getting hubby on board that's a big step.

rachelMcK · 07-28-2006, 10:28 AM

Thanks you guys!!!

DF got on board after I explained everything to him. I also was talking to friends who are finishing/finished school (we all started at the same time). Some are even further in debt than us! But they don't know about Dave Ramsey and most of haven't even started to think about debt. I told him that it would be awesome if we have no debt by the time we're 25 and they are still over their head (awesome for us). He liked that idea. But of course, I couldn't let my friends wallow in their debt. I plan on getting the total money makeover book and when I'm done, I'm gonna send it to my friends to read!!!

Nantahala · 07-28-2006, 05:44 PM

Another DR fan here on BS#1. We have about 1K in CC debt but over 100K in student loans. Eeeeeek. But I know we can live like no one else so we can live like no one else... later.

NoDebtMom · 07-28-2006, 06:49 PM

Dave Ramsey has changed our financial lives 1000%, I wish I would have started it when I was your age.. GREAT job being so motivated-- what an awesome way to start out your new marriage!

acox68 · 08-07-2006, 05:43 PM

I ordered the book and book on CD from the library which I found to be VERY motivating. The other day, I finally broke down and bought the Financial Peace University materials for a September class at a local church. It was $150 (eek), but I am hoping it will help me put the steps into actual practice....

I am working on baby step #1 with $400 in the emergency fund.....

It is so good to find others who are doing this plan because I can't afford the tools on Dave's site on a monthly basis. This way I can talk to others about the plan without having to pay the monthly fee.

das1gal · 08-07-2006, 08:22 PM

I went to the website, and I like the baby steps, but I don't know where to begin! It looks like you have to pay to get more information. That doesn't seem so very frugal! Any thoughts?

acox68 · 08-07-2006, 09:24 PM

I first took out the book from the local library and then they also had the book on CD. That was my "frugal" way of getting more info. Now that I have done that, I wanted to get more in depth with it so I bought the books for the Financial Peace University course. It cost $150 with shipping and handling, however, I will get 13, 2 hour courses at a local church and will be able to realize the baby steps a little easier...that is my *hope* anyway. Not to say it will be easy, but I need somewhere to start. Hope that makes sense...

tastefullyjune · 08-07-2006, 09:28 PM

My DH and I went through FPU and will gladly do it again. It was one thing for DH to hear about Dave Ramsey, but entirely different to actually hear the information from DR himself. We have seen a Live Event as well. Totally worthwhile if you can do that too!

yankeegal · 08-08-2006, 09:57 AM

I am on Baby Step 2 as well-The zero-based budget and only paying with cash have had amazing results in our debt reduction and savings. It is a plan that works if you really want it to.

rachelMcK · 08-11-2006, 07:46 AM

Well, my BEF is at $662.54!!!! My goal (as in my signature) is $1000 by Septembe 1st!!!!