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Topic Title: Welcome to the Success Stories message board!
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Created On: 08/19/2004 04:18 PM
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 12/31/2008 08:08 PM
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MyTMMO User
What's a Baby Step?

Posts: 2
Joined: 12/31/2008


We are in the same boat. Any advice sent our way would be GREATLY appreicated.
 01/01/2009 01:10 AM
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I like stuff

Posts: 12
Joined: 04/12/2006




Absolutely......Work on drawing up your budget (use the tools that Dave has on his website) and stick too it. Both of you need to work on it and add and subtract things. If a change must be made have an emergency budget meeting. Be realistic on your amounts and don't try to put money in every category! Only God has enough money to do that. Just don't make the mistake of underfunding your grocery or gas budget items.

Word of caution: The first couple of budgets will not work and you will need to have a lot of emergency budget meetings. Almost fogot to get your $1000.00 baby emergency fund together first.....that way when something happens you won't have to pull out the credit card.

This really works. A couple of years ago my wife and I had 2 car payments, 1 credit card with $5,000.00 on it and a mortgage with $110,000.00 on it. Today we are totally debt free (including the house) and have a nice emergency fund in a money market account.

Good Luck and remember to listen to Dave's show or if you can't get it in your area you may want to consider getting subscribed to My TMMO.com Fairly inexpensive and you get a lot. Also if you have not attended Financial Peace University do so as quick as possible.
 01/02/2009 10:05 AM
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Better than I deserve

Posts: 307
Joined: 12/29/2008




No advice, but so you know you are not alone, my wife and I make great money, no kids (well, child support for 20 more months) and have way more unsecured debt than we should, living nearly paycheck to paycheck as well.

We are just getting started, but it is so EXCITING to be on this journey!

Can't WAIT to be debt free!

Good luck!
 01/29/2009 11:53 PM
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MyTMMO User
What's a Baby Step?

Posts: 1
Joined: 05/28/2008


Ferb22, My suggestion is to buy the book. "Total Money Makeover", the task of doing a budget was daunting to me so I signed up for the Total money makeover online, which helps with the budget. We started and gazelle intensified and got knocked off now we are more than $7000 more in debt so stupidity came knocking. A budget it the most important thing to keep your finances in check. If you have an ipod download the podcast its free and still helpful.
 02/07/2009 12:01 PM
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Don't give me advice, you're broke!

Posts: 180
Joined: 12/17/2008


Hi everyone, I just completed Baby Step 1 today! I actually feel like I cheated because I took my tax refund which I recieved Friday and put enough into my savings account to = $1000. and then put the rest into my principle on my car payment. It felt great to do that but I would never have guessed that I would feel so elated by doing that before I met DR. My old way of thinking was wow, I have all this money what can I spend it on? It would usually go for clothes or other "stuff" and then I'd feel a let down afterwards. I used to be a shopaholic but DR is curing me of that addiction! I'm so excited and can see the numbers go down visually as I get closer and closer to no car payments!!!!!! Thanks to these forums I've learned so much about myself while hearing about your stories.


BS-1 done 2/7/09 with tax refund of 2378.00
BS-2 Car 1639.82(tax refund to principle was 1537.85 today)
Son's student loan(I co-signed for) 4000.00
LCA 5005.60
CC 10,400.00
BS-3 3-6 mos expenses-within the next 2 yrs!
BS-4 15% of income into retirement (temporarily stopped 401K contributions til I
get here)
BS-5 Don't have to do this one!
BS-6 Mortgage 113,141.79 at 5.375%
HELOC 34,700. at 8.5 %

I'm 57 so I don't think I'll ever get my mortgage paid off but it's a goal! Unless someone has some suggestions for me on how to do that!
 02/19/2009 05:52 PM
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What's a Baby Step?

Posts: 1
Joined: 09/23/2008


If you haven't read Dave's book, "The Total Money Makeover", you almost HAVE to read it before beginning this journey. I loved it! Couldn't put it down!
 02/20/2009 09:17 PM
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What's a Baby Step?

Posts: 9
Joined: 09/09/2008


I am really excited! We started in September. I took over paying the bills for the first time in our married life. What an eye-opener for the "shopaholic"! Christmas slowed our Gazelle momentum a little, but it's the first Christmas in a long time that was all cash! We're learning we don't need all the "stuff" to feel loved. We had two car payments. I sold my car, but had to add to my credit card to get something that would be dependable. I was able to scrape together an extra $1000 this month to put toward that. we will be debt free except for the house by August 2012. Putting a date to it is freeing! Budgeting actually feels like a raise. What an awesome program! I love it so much I have become a Financial Peace University Class Coordinator. I am really enjoying seeing other's transformations.
 03/01/2009 05:08 PM
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What's a Baby Step?

Posts: 1
Joined: 03/01/2009


I am new too
 03/18/2009 12:28 PM
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What's a Baby Step?

Posts: 1
Joined: 08/10/2008


I am so excited today. I just made the last payment of my truck. My wife and I still have two large credit card bills to pay off in a year or two. But we are getting there!!! Thanks Dave!!!
 03/18/2009 09:50 PM
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TMMO Guru

Posts: 244
Joined: 03/18/2009




I am new to Dave Ramsey, I just signed up for the 7 day trial. My husband and I are buried in debt, so much so that we make good money but can never pay anything on time because we live pay check to pay check. We have to kids, so it makes it even more difficult to get out of debt, any advice? would be welcome!
 03/26/2009 08:58 PM
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What's a Baby Step?

Posts: 3
Joined: 02/23/2007


Hello,

I to am new here. I had a lot of new year's resolutions this year and becoming debt free was one of them. We just started a month ago when we got our income tax return. We got all our bills caught up and current. I even paid off a few small ones. I have one problem tho. I get so nervous about living the way we did before (paycheck to paycheck and no savings) that even tho we have about $5,000 left over from the tax return, I am afraid of paying off $1,500 in credit cards (about $60.00/mo. payments) and a $1,500 personal loan. We were able to set back my income for this month and that is our goal is to try and live off one income and put the other away. We are getting better about talking ourselves out of buying things or doing things that cost money. I believe we are starting in the right direction but I feel I am at a hurdle and don't know how to get over it. How do I get over that fear and of being broke and having nothing again.
 04/21/2009 10:54 AM
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Leavin' out the "C"

Posts: 348
Joined: 07/12/2008


I love DR...It really works...The only thing is you need to follow the program step by step...
don't try to ... to do it your way... It won't work !!!! I did and now I have to do it his way.
You need to focus on you. Even ... if people try to talk you out of it...like it happen to me...
but , now I know not to listen... to them...focus and don't lose site of your goals.. Don't be normal!!!! You need to not let people or your friends...talk into going out to spend your money and your children...will come to help you spend what you have save.. I have learn to say "NO" and then...I lol... they don't get it ..I am sick and tired of being broke...and living paid check to paid check....This is my time..to live like no one else so l
later ...I can be like no one else...I use the blow money for me.. in what I want to do...not my children!! Thanks...DR for teaching me to say "NO" !! 1. Gave....Save....Bills. Thanks....
 05/28/2009 12:06 PM
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What's a Baby Step?

Posts: 4
Joined: 06/04/2008


Hi Marmormat,

One way to get over your fear of letting go of your saving to pay down on debt is to listen daily to DR POD cast and he will build your confidence to keep the momentium to move forward with your plan toward a debt free life.

I was in your situation and hanging on to our savings for fear I would be without CASH, but I overcame that and wrote a check for over $4,000 to pay off my minivan and WOW what a feeling that was to not have PAYMENT on that car anymore. You'll feel the success if you just write the check and send it off and you'll be surprise how much spare money starts showing up. When I wrote that check I thought I would be down to my $1K EF but when I relooked a week later I actually still had $4K left.

We started with $59K June 08 and as of May 09 we are down to $22K left with only two bills remaining to kill off.

BS1 - Done 6-08
B2S - Killed 5 CC by 9-08 ($7,874.04)
BS2 - Killed 03 Minivan 5-09 ($22K) 2 years early and it still looks and runs like new with 58K miles!
BS2 - 2nd Car Loan due to die by Dec 2009 ($10K)
BS2 - 401K Loan due to die by April 2010 ($11K)
BS3 - FFEF - Don't need as much once the debt is GONE so should be done by July 2010
BS4 - Start back up in July 2010 after FFEF is done
BS5 - Kids are grown don't have to do this one...YEA!
BS6 - Mortgage $104K due to die May 2016 just in time for retirement!!! WHEW!!!
 07/11/2009 09:00 PM
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What's a Baby Step?

Posts: 3
Joined: 06/28/2009


Cook everything from scratch. On Sunday's, I get up early and cook before church. I freeze casseroles and beans. I also bake cakes, brownies and cookies instead of buying the items in the store. Some baked goods can also be frozen for future use. Not only is the food healthier but a lot cheaper. There is an initial cost to stock the pantry w/the basic items but if you go to the warehouse stores the cost is cheaper. Buy in bulk and use a food saver to store stuff. Try the food network.com and recipezaar.com for recipes. You can enter cracker barrel or olive garden and get recipes for their stuff. Very easy to make. I also cut the home phone and just use my cell. Saves 60 month. Same with cable. Cut to just basic. Got deal on cable and internet. Had Direct TV. Saving 100 a month. Discovered the alarm still works if not monitered. If someone breaks in it will go off. My neighbor is a police officer and is home during the day. He can hear it if it goes off. Saved 45 mo. I take a lot of RX. Google the drug name and go to the company website. Most have a saving program that is good for several mos. At one point was saving 85 mo. on RX. A Client also told me she gets designer handbags and clothes, barely used, at resale shops for just a couple of dollars. Haven't tried this one yet. Used to have a job making good money. Health problems forced a career change and a job making half. Getting good at being poor. Hope this helps.
 08/20/2009 05:57 PM
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What's a Baby Step?

Posts: 5
Joined: 09/05/2007


I have never posted before. My husband and I took FPU in Sept. 07. My husband was interested but wasn't Gazelle intense, until about 2 months ago when he realized how much we had paid down, we started with over $52K in credit cards and are down to under $32k. We had 27 credit accounts and are down to 13. We should be able to pay one a month off until Dec. then it looks like in February we will be able to pay one a month and shoould be finished by next December, sooner, hopefully. It is exciting to pay them off! I can't wait until we have all that money that we are paying to others to spend/save how we want.
 11/13/2009 03:43 PM
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What's a Baby Step?

Posts: 2
Joined: 10/06/2007


Glad you asked. My husband and I are members for abount 2 years. We are now coordinators, with our church for this fabulous program. Please sign up! Find a location through this site. We have 3 girls. One just graduated college, 2 are in college. We have been very dedicated to this. We expected our girls to be on board. They are! One just asked us to NOT pay for her wedding. She, instead, would like to have us put $5,000.00 (the amount each daughter was told they would get from us for a wedding), in a savings for her and her future husband to use on a down payment on a home. They are also putting off their wedding, until they both are debt free! BTW, the girls attend a bi-weekly FAMILY budget meeting with us. Either on the phone, in person, or chat. Not sure how old your children are, but they're never too young to learn. I wish you all the blessings and the encouragement to follow through with this. Your free 7 days, can turn into a free debt life. blessings!
 11/13/2009 10:06 PM
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MyTMMO User
"Well, Dave says..."

Posts: 111
Joined: 02/26/2009


Ferb22, do you have $1000 in the bank? If so, then make a list of your debts (debt snowball) with the smallest amount you owe listed first and the largest amount last. Pay any extra that you can bring in towards that first debt while doing minimum payments on everything else. Sell stuff to bring in some extra dough! And make sure you create a budget using the software on this site (or just a spreadsheet if you want, or even pencil and paper...but write it down!). This way you get to tell your money where to go, rather than letting it tell you where to go.

Once you pay off the first debt, roll the amount you were paying towards that debt into payments on your next lowest debt (like a snowball that keeps growing), and you will be amazed how quickly you are able to pay off debt.

If you are unable to make all your minimum payments, do a pro rata pay off plan. This means you figure out the total amount per month you have available to pay towards ALL of your debt (not counting mortgage, if you have one, or other essentials), then figure out the percent that each debt represents out of your total debt. Multiply the amount you have available to pay by the percent debt (converted into decimals) and pay that amount. Meanwhile, any time you are able to lay hands on a little extra money, put that towards your lowest debt, as you would normally.

If you do need to do a pro rata plan make sure you send letters to each creditor explaining why you need to do it, include a copy of your plan AND your budget (so they can see you really don't have any more money), and send it certified mail. As your situation changes and you begin to owe less, increase the amount you pay towards debt up to at least the minimum payments as soon as you can.

It works! As of today, my husband and I have paid off just under 50% of our debt, and we only started in March!! Our only debts now are a truck loan and 1 remaining credit card.

Good luck!!
 12/11/2009 03:48 PM
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MyTMMO User
I like stuff

Posts: 58
Joined: 01/24/2009


Never lose hope,....never lose hope....if you are without hope, you are then without motivation. I love this forum, and remember that when I was new to FPU I read these postings on this website almost daily. That's right, gazelle intensity....gazelle intensity will get you to your goal. My DH and I began FPU less than one year ago. With a house on the market that drained us for 16 months, newly married, he losing his job, and two mortgages on one income, we have managed to pay off OVER $40,000 in debt. We did it by being gazelle intense at times, making significant sacrifices (luxuries, tv, eating out, movies, entertainment mostly) and adjusting our shopping habits. I think it is helpful to humble yourself....and then attack your debt, just one day at a time. Keep the long term vision so you do not get discouraged. I remember thinking "How can people pay off so much in so little time?" I now get it, and you will too...Keep reading, keep posting, keep working.
 01/12/2010 08:07 PM
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What's a Baby Step?

Posts: 1
Joined: 01/10/2010


We are in same situation. Just signed up, buried in debt, make good money, living payday to payday but raising four children. Right now I am excited about the thought of being debt free. I hope to have my wife join my in these feelings. It takes two to tango. Anyway best of luck to both of us.
 02/15/2010 01:48 PM
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What's a Baby Step?

Posts: 3
Joined: 11/27/2009


I would love to know about the "food saver" you got- I haven't heard of that, but I struggle with spending too much at Walmart! I am determined to make the most of every penny I earn! We are saving for a log home, but I am needing to take a step back and pay down on my student loans which are outrageous~
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