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How Dave Ramsey Helped Me Pay Off My Debt
Posted By Guest Contributor On 11/23/2009 @ 12:02 pm In Debt | 36 Comments
Late last December I came across a post on Bargaineering about Dave Ramsey’s book, “The Total Money Makeover .” Prior to this, I had never heard of Dave or his somewhat controversial teachings (e.g., he recommends folks pay off their debts from smallest to largest , regardless of interest rates, he quotes Bible verses – though mostly to share common sense financial wisdom, etc.).
Somewhat intrigued, I picked up a copy of the book and read it in about 24 hours. The writing style was engaging and the book really spoke to me. It caused me to sit down and take a long, hard look at where I was financially, a decade plus out of college… The picture wasn’t pretty; a good retirement account, almost no savings, credit card debt, a car loan that was underwater, and incredibly poor spending habits. Today, 11 months later, I am debt free (other than the house) and feel fantastic. If I can change my ways and eliminate more than $25k in debt in less than a year…anyone can.
So how did I do it?
Sound simple? It really is. It was hard work and required a ton of focus and intensity, but I am now in a position to build up a solid 3-6 month emergency fund. After that, life will get very interesting as I will be able to ramp up retirement savings, accelerate the paydown of my mortgage and, yes, have a little more spending money to buy those electronic toys I love so much…
If you’re in debt, and you want to get out of it, I encourage you to visit Dave’s website , or check out his radio or TV show. He’s controversial, to be sure, but he’s a great teacher…and made a huge difference in my life.
Nick has been a buddy of mine since college, still lives in Pittsburgh, and spends his free time dealing with an insane labrador retriever. He is hoping for swift passage of the HAPPY tax credit .
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 Late last December I came across a post on Bargaineering about Dave Ramsey’s book, “The Total Money Makeover: http://www.bargaineering.com/articles/r/amazon.php?asin=0785289089
 he recommends folks pay off their debts from smallest to largest: http://www.bargaineering.com/articles/dave-ramsey-is-brilliant.html
 Dave’s website: http://www.daveramsey.com
 HAPPY tax credit: http://www.bargaineering.com/articles/happy-act-3500-pet-care-expenses-deduction.html
Thank you for reading!