Nice, Tradd! You are definitely making positive progress!!
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Nice, Tradd! You are definitely making positive progress!!
I am trying to get past the very uncomfortable feeling of only having $1100 in savings. The credit card balance showing the much smaller balance is a comfort, though!
I’m down to ONE. Everything - checking, savings, cc - is at the same big bank.Quote:
Originally Posted by happystuff
Been listening to DR a lot lately. Needed that push.
Woman I saw online was complaining about needing to spend money to follow DR’s method. What money? You can get the book free from the library. You can listen to the radio show/videos online for free. There are FB groups for support and questions. The basic version of the budgeting app is free. There are calculators and other tools on his website to help figure out how long to pay off debts and such. She was surprised at my answer. I’m not sure why.
I would say that the cost of the Total Money Makeover is an investment with a big ROI if she follows the program. Other than that, as you said, Tradd, what money is there to spend? He's all over theh place free on YouTube and on his site. She clearly has some signals crossed.
Some people see Dave Ramsey as “selling “his advice. Which he is, of course, but it’s all over the place free.Quote:
Originally Posted by catherine
On Nextdoor’s forum in my old neighborhood somebody was starting a Ramsey financial support group at a church. Oh my God, the outcry about that because Dave Ramsay is religious and he’s also making money on his advice. There was a modest fee for people in this group to buy materials. People love to hate on Ramsey. Very narrowminded.
Tradd, have you ever been without debt in the past two decades? When you stop paying that regular fee for interest, you’ll find you have a whole lot more money to spend on stuff. You can cash flow everything.
soon you can go to Franklin, Kentucky and get on the Dave Ramsey show to shout “I am debt-free!!!”
Nope. Never without debt. Either had car payment or credit card debt. Once cc is gone then I’ll attack car loan.
I won’t go to TN for the debt free scream. I’ll just do it here!
Yes!! I've always wanted to know someone with a debt-free scream!! Looking forward to yours Tradd.Quote:
Originally Posted by Tradd
While I do wish he had a non church meeting places for his stuff, he freely admits it's from the bible, so easy of a book to get.
He's religious, I am more of a Christopher Hitchens type of guy.
Work owners gave an update that business is much better the second half of the year so far. So there’s hope we will get our year end bonus. That’s equal to one paycheck. Hope we get it!
Just threw another $1K on cc. Just under $3K now.
Wow - you're almost there!
Way to go, Tradd!!!!
Woo hoo! Got a $880 refund from hospital (paid $3500 when registering for surgery in Aug). Card balance down to $2100ish. Yay!
Great, Tradd!
Finally opened a high yield savings account. My big bank savings (where I also have checking and credit card) is 0.01% interest. I have. Vanguard IRA(401k rollover from years ago) so I decided on the Vanguard Cash Plus account. FDIC insured. No min balance or transfer amount. 3.9% interest. Started it with $100. Decided I’m going to keep several grand in my big bank savings account, connected to checking, for easy access in an emergency. The cash plus account will take a couple of days to transfer into my regular checking.
This is brilliant, Tradd, way to go.Quote:
Originally Posted by Tradd
I did this several years ago and keep all my emergency money there where it does collect some interest, varying over the years, but it is a good feeling. I also keep cds there that roll over each month to replace one month's income. It just perks along, making me feel safe.
Waiting to see if we’ll get a Christmas bonus. If we do, it will be this week. They don’t say anything. The direct deposit just shows up.
Well, I got a bonus, but it’s a weird amount. It’s not the usual full paycheck. It’s more like 1/3, but it’s not even that. Driving me a bit bats trying to figure out the amount. I’m happy I got something, but amount is weird. I woke up in the middle of the night a bit ago and saw the direct deposit email notification.
Is it some random percentage of your usual paycheck? Long ago at my bead store job for my first Xmas there I got a bonus of $600 (which was amazing back then for a single parent working a low-wage retail position). It turns out the owner gave back in the bonus $1 for every hour I had worked that year. (I had started that job in August of that year). 600 hours x $1 was my bonus. Doesn't seem like anything now but I remember the feeling of getting an extra $600 tax-free at the end of the year!
Bonus was $1700 pre-tax when I looked at stub online. Turns out medical and 401K was taken out of it in error. So I’ve got about $200ish I’ll see in 12/31 paycheck.Quote:
Originally Posted by SiouzQ.
So that $1700 is a bit less than half of regular paycheck.
I took $200ish of bonus to buy a new desk chair for home. The one I have is a cheapo I bought in 2020 when I had the remote job. It currently sells for $35 so very cheap. I want something more comfortable.
Woo hoo! Just paid off the last $1600 on cc.
Oh that is big big big!
so what are you going to do to keep from using the credit card again? Do you have strategies in place, or in your mind?
Just will use for a few recurring small things.Quote:
Originally Posted by iris lilies
Some savings building next and then car loan.
Hooray for you!!!Quote:
Originally Posted by Tradd
Congrats, Tradd! That's a huge accomplishment!
Congratulations!! That is wonderful! As Dave Ramsey says, quoting Mel Gibson: FREEDOOOMM!
Well, still have car loan, but yes, freedom not having the cc debt.Quote:
Originally Posted by catherine
That's a great milestone, Tradd!
Today is payday and there’s now a bit more than one month’s expenses in savings. Yay.