The balance between paying down debt and savings

[iris lilies]

One of the Dave Ramsey show co-hosts has a new book out, Breaking Free from Broke. I had a bunch of Kindle Rewards points so it was only $4. Couple chapters in and it’s good so far.

I’ve been listening to a lot of Dave Ramsey in the past few weeks and he councils everyone to pay off your credit cards fast. Then start saving again. He doesn’t counsel that “balanced” approach..

But then, the assumption underlying that is that you, the generic you, won’t go into debt again.

edited: I like Dave and did not mean to call him Damn. I enjoy his program and his daddy lectures.

[catherine]

I’ve been listening to a lot of damn Dave Ramsey in the past few weeks and he councils everyone to pay off your credit cards fast. Then start saving again. He doesn’t cancel that “balanced” approach..

But then, the assumption underlying that is that you, the generic you, won’t go into debt again.

He definitely takes a radical approach for this culture that lives by credit cards. He won't take credit cards on the website for his books. He teaches people how to rent cars with debit cards and how to buy houses with no credit score. I do admire him for that radical approach--it's not for everyone, but it has helped a lot of people

[Tradd]

I’ve been listening to a lot of damn Dave Ramsey in the past few weeks and he councils everyone to pay off your credit cards fast. Then start saving again. He doesn’t cancel that “balanced” approach..

But then, the assumption underlying that is that you, the generic you, won’t go into debt again.

Yes, I know. I pulled $1K from savings today and threw that on the cc.

[Tybee]

Yes, I know. I pulled $1K from savings today and threw that on the cc.

That's awesome!

[Tradd]

Wanted my McD this morning ($4) so I hit my change jar this morning.

[iris lilies]

Wanted my McD this morning ($4) so I hit my change jar this morning.

Good job Tradd. We are cheering you on to eliminate this debt!

[rosarugosa]

Keep up the good work, Tradd!

[catherine]

You're doing great!!

[Tradd]

Payday is tomorrow. Another $1K on cc.

[Tradd]

Good job Tradd. We are cheering you on to eliminate this debt!

Thank you!

Went over budget again just now at lunch. I could throw $2800 a month at it. Big expenses I have coming up:

Car insurance - due early April. Should be $600ish, but rates have been going up so who knows what it will be.
License plate tags -$155, due late May
New oxygen sensors for my diving rebreather (need to be replaced every 12 months, old set expired in the fall) - $240ish. I sourced them at a well-known online dive gear retailer and they’re the cheapest at $79/each. Other places go as high as $109 each. I need three. I need these by late April as local diving season starts in early May.

I can cash flow all of these expenses.