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4 Posts
Hello all.
My DH and I are essentially on BS3, though I just started reading TMMO. We both have been following the Dave Ramsey plan our whole lives because of our parents without really knowing it (THANKS MOM AND DADS!). As a couple we've never been on any formal plan beyond setting a joint budget that we do *ok* on. We don't have any debt other than our mortgage and we own paid for reliable cars.
We bought a house last year knowing that it would need a roof soon. We cash flowed our wedding over the summer and now that those expenses are behind us, we are focused on replacing the roof. We anticipate the cost of the roof to be between 8 to 12 thousand dollars. My plan would be to wait and save, we can save $1000 per month starting this month. My DH is worried that the roof won't make it through the winter/rainy season and wants to replace it immediately so we avoid a major catastrophe by waiting a year to save. We only have a BS1 emergency fund. He wants to take out a credit card with 0% interest for 18 months and pay it off as quickly as possible.
We keep a joint account that we each deposit money into for joint expenses and also have separate accounts for spending. We only have that checking/savings account with a debit card, we do not have any joint credit cards. We each have 1-2 credit cards that are paid in full each month, neither one of us has ever carried a balance.
Obviously putting an expense that large onto a card makes me pretty queasy. He doesn't have any qualms about it because we tend to be responsible. Our only weakness is food (groceries/dining out).
What do you guys think?
My DH and I are essentially on BS3, though I just started reading TMMO. We both have been following the Dave Ramsey plan our whole lives because of our parents without really knowing it (THANKS MOM AND DADS!). As a couple we've never been on any formal plan beyond setting a joint budget that we do *ok* on. We don't have any debt other than our mortgage and we own paid for reliable cars.
We bought a house last year knowing that it would need a roof soon. We cash flowed our wedding over the summer and now that those expenses are behind us, we are focused on replacing the roof. We anticipate the cost of the roof to be between 8 to 12 thousand dollars. My plan would be to wait and save, we can save $1000 per month starting this month. My DH is worried that the roof won't make it through the winter/rainy season and wants to replace it immediately so we avoid a major catastrophe by waiting a year to save. We only have a BS1 emergency fund. He wants to take out a credit card with 0% interest for 18 months and pay it off as quickly as possible.
We keep a joint account that we each deposit money into for joint expenses and also have separate accounts for spending. We only have that checking/savings account with a debit card, we do not have any joint credit cards. We each have 1-2 credit cards that are paid in full each month, neither one of us has ever carried a balance.
Obviously putting an expense that large onto a card makes me pretty queasy. He doesn't have any qualms about it because we tend to be responsible. Our only weakness is food (groceries/dining out).
What do you guys think?
OR you're talking a fancy roof. Probably you need to have a simple roof because that's what you can afford now - you can upgrade by saving for it for when this one needs replacing.
