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Author Topic: It's normal to carry debt... choose to be weird.  (Read 1788 times) Average Rating: 0
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Faith: Jewish
Jurisdiction: United Synagogue of Conservative Judaism
Posts: 2,457

« Reply #90 on: December 25, 2013, 06:05:00 AM »

There's your answer on why I don't waste time making an effort post.
Proverbs 22:7
'Christians in particular were bad readers, always seizing opportunities to insert a Bible verse into a conversation with the same point as a punctuation mark: to end it rather than deepen it.
Stupid. Pointless. Menacing."
So that explains what the verse means? In what way?

Proverbs 22:7
Charles Martel
Traditional Roman Catholic
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Faith: Roman Catholic
Jurisdiction: New york
Posts: 2,772

« Reply #91 on: January 01, 2014, 09:17:30 PM »

Sent to me by a friend (Thanks, bubba!)  A 10 part youtube series by Dave Ramsey on Budgeting and paying down debt.  Do yourselves a favor and watch all ten.  You're welcome.  Smiley
Just bumped this thread because it's too important to let slip away.

Watched some his videos today, always been a big fan of this guy, his stuff should be mandatory reading or watching for any of your children/family who've reached the age of reason. There couldn't be a better message in these times today.

Stay the hell out of DEBT!

Sancte Michael Archangele, defende nos in proelio, contra nequitiam et insidias diaboli esto praesidium.
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Faith: Groucho Marxist
Jurisdiction: Dahntahn Stoop Haus
Posts: 13,267

Paint It Red

« Reply #92 on: January 01, 2014, 09:38:51 PM »

It's funny this thread got bumped. I saw what is arguably the best budget software on sale and bought it today.

Anyway, Ramsey is wrong about all debt being bad. This is exactly why Conservatives are always blowing up over the national budget/debt. It is not so black and white or rather so simplistic. Is it a good thing on a personal level to pay down debt? Yes, but "cutting up credit cards" isn't good advice. Try securing a mortgage without a credit score is extremely difficult and will be expensive, and if you start closing those credit card accounts they will end up damaging your credit score. What Ramsey doesn't realize, and I work in the banking industry btw, is that everything is manually underwritten so for him to advise to seek that route is silly. If you want to get an FHA loan using alternate means, its possible, but you'll pay for it more in interest.

Frankly his 12 step approach to debt is lamentable. And the whole one size fits all approach should only be for those in really terrible circumstances, dire straits where he is seen as a "last hope". If you are in some debt, but financially OK it is better to look elsewhere. I would recommend a budget program that maps out the course of a year, calculates, gives charts and graphs, etc. I guess there is always Excel, but I like the layout of my program and it is easier to track.

Look I'll be simple. Stop spending money. Be more frugal, this is where I have to agree with YiM. I think if you map out your spending habits over the entire year, say 2013, or pay someone to do it, look at where you are overspending and try to reduce that.

Take that reduction and place that in either a savings account or pay down some of the debt. Soon enough, once you start paying down the debt, you can get out of the paycheck to paycheck grind.

As a 26 year old male, with no wife, no kids, nada, I have a lot of money to burn. Which ends up me buying a bunch of crap I don't really need or maybe even use. I could use a little more discipline but hey that's what happens when your parents raise you as a spoiled brat a long with the rest of your generation.

Someone challenged me to not spend a single thing in 2014, well I am going to take him up on that.
« Last Edit: January 01, 2014, 09:39:44 PM by Shiny » Logged

“There is your brother, naked, crying, and you stand there confused over the choice of an attractive floor covering.”

– St. Ambrose of Milan
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Faith: Orthodox
Jurisdiction: OCA
Posts: 2,997

« Reply #93 on: January 07, 2014, 05:37:52 PM »

Whatever method helps people get out of or stay out of debt.
I'm not a hardcore Ramseyite but listening to his program did give me the idea that it was possible - and that I could do it. The debt snowball method worked for us.
We do have a credit card (mostly for ordering online) and we pay it off every month. We're now saving up to replace my 13 year old Jeep Cherokee (still running, fingers crossed!) though I haven't decided with what. Still looking at Autotrader and Cargurus.com.

"If but ten of us lead a holy life, we shall kindle a fire which shall light up the entire city."

 St. John Chrysostom
Tags: debt credit personal finance 
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