Those of you who know me know that I am a big supporter of Dave Ramsey and his financial advice. I am also one of those obnoxious people who will dispense his advice freely to you with my added twist when I feel the situation calls for it.
The other day I was talking to one of my friends and she was disparing about how much debt she and her husband were in how she felt like they could never afford to buy a home etc. they drive a new car (on payments) both have an elaborate cell phones, cable, eat out often and go on regular vacations...then she said the kicker "if my husband made as much money as yours we could afford a nice home"...well guess what her husband DOES make as much as mine. She just has never learned how to put herself in prison. Put herself in prison? That's a little phrase that one of my college teachers used to use the basic concept is to "put yourself in prison now so you are free to do what you want later". i.e. Put yourself in prison at the dinner table so you are free in the dress shop" or in this case cut out the all the extras so you are free to buy your own home. Drive by the fast food and cook dinner yourself.
I have found that if there are things we as people really want we will work and find a way to get them. We have certain goals both long and short term (as Dave recommends) you must have something to aim at.
Our Goals:
To NEVER , EVER again have a car payment, to drive an older car and use CASH to replace it.
Never , ever again use our credit cards (except to rent a car)
To never pay interest but rather have interest PAID TO US
To send our children to Christian School
To pay off our home in 15 years
To go to Disney World in 2015 (when the kids are 10,7 and5)
To have 10k saved for each child as a wedding-college gift(to start out life)
To take a transatlantic cruise on our 25th wedding anniversary (on the Queen MaryII)
To have enough savings that we can afford in home care until we die
What are some of your goals?
Great goals. I'm motivated to sit with Seth and make a list of our own. We need to make family vacation goals for sure because they never come to reality. We also will never have a car payment. I still get excited about having a van with a door on the driver's side- shows you how not- up on the latest in car features I am. We never pay interest... working on having interst paid to us.
ReplyDeleteWho was it that gave you the "put yourself in prison?" I never heard that (or forgot if I did!)