Monday, December 1, 2008

Monday Memory: Total Money Makeover


This Monday Memory post is more of a memory-in-motion: an anniversary post. We have just completed our third year of management under Dave Ramsey's Total Money Makeover. In this one year, we have paid off another $12, 233 in debt, for a three year total of … are you ready for this? … $36,106!!

Astronomical, I know. And in those three years, we have not only chipped away at our debt, but we have also constantly had to replenish our emergency savings fund. We've had to buy a new refrigerator, dishwasher, hot water heater, dryer, van, and car, and I'm probably blocking out a few more big-ticket items. We've put thousands (yes, thousands) of dollars into various repairs, especially to our vehicles. We've also done some things Dave probably wouldn't approve of, like taking trips to Disneyworld and Williamsburg. We would have been closer to paying off that hideous debt had to not taken these trips, but sometimes "they grow up so quickly" takes precedence.

We started Dave's plan because we were sliding into that dark pit of debt, as much of our generation is. You can read our whole story here. The vast majority of our debt: school loans from graduate school. Our goal was to pay off our school loans before Jesse goes to college, but that seems a bit unreachable now since he has just another year and a half. Still, if we have a great year without any major expenditures and forego a family vacation, we might just make it. But whenever it happens, there will be much celebrating around here when we call Dave and scream,

"We're debt free!"

(I was just practicing.) If you aren't familiar with Dave Ramsey and need a financial guru who speaks simply and directly, please get to know him. His plan is truly simple and sensible. Today is the last day of his fantastic $10 book sale. All of his amazing products, including the book that changed our lives—are only $10. If your finances are already warm and fuzzy, then you might want to buy a copy for a Christmas gift.

13 comments:

  1. woo-hoo!!! it's a long, slow road, but SO worth it.

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  2. How inspirational! We hope to be where you all are sometime in the near future!

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  3. You go girl! That is an amazing feat. Dave Ramsey is a popular man amongst some here in these parts.

    I have to say that I praise God Ive never needed to listen to him because we have never been in debt.
    Everything we own is debt free, a $450,000 home with no mortgage, cars paid off, credit cards, all owing nothing. It is indeed a good place to be. Cant wait to have you join us in this debt free land.

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  4. How inspirational! We are hoping to pay off some debts this year while my hubby is in Iraq and we are earning a bit of extra money. I will have to read those books!

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  5. We'll be debt free by the end of 2009 thanks to Dave. :-)

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  6. Just wanted to say hi. Found Small Reads today which led to this blog. How blessed I am. Thanks for your great blogs. I am learning a lot from bloggers like your goodself. I am a homepreschooling mom with 3 sons. I'm also a Barefoot Books Stallholder because I think you already know some if not all the reasons why. :-) Did you know that it's now totally free to join? Just in case you're still interested, you can visit my blogs and click on the top right corner banner ad for details. Great way to bring these wonderful books into your community.

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  7. You're doing so well! Thanks for encouraging us with your story!
    We took his Financial Peace University class this fall and I'm so thankful! :)

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  8. Sam and I want to be debt free too! Can we borrow some of Dave Ramsey's books-or does the church have them? We would love to talk to you an Randy about it! We are trying to start early before everything piles up on us!

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  9. Way to go Sarah. We have been working with Dave's plan for almost a year. We are not there yet, but with some of Dave's help we have finally paid off our last credit card (it took us 12 years) but it is done and it feels great! We are not out of debt yet, but we are getting closer each month. I agree, I can't wait to call in and Say I'M DEBT FREE!

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  10. Congratulations! That is a huge accomplishment. I know it takes a lot of planning, prayer, and dedication. What a way to honor God, and to give Him the glory by sharing your story. Thanks for the encouragement, and praise God for your progress on this journey!

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  11. Congratulations! That is an inspiration- something we're trying to do. I'll have to check out the book!

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