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SVTPerformance's Chain of Restaurants
Road Side Pub
Need financial debt advice(paying off)
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<blockquote data-quote="Bens4vcobra" data-source="post: 10115607" data-attributes="member: 37560"><p>I'm not going to jump in the debate here, but given the fact that Dave Ramsey et. al. was mentioned a few times, I thought I'd comment. </p><p></p><p>My personal experience:</p><p></p><p>A few years ago, I graduated college, bought a house and got married all around the same time. I also did one of the dumbest things I've ever done. I financed a new car with NO down payment (2007 GT). I got great terms, so I thought what I did wasn't all that bad. There was also the matter of my student loans coming due. For about 6 months, I lived in denial about the amount of debt I had. One day I stumbled across Dave's radio show by accident. Long story short, the denial gave way to regret and frustration. I sold the GT for $2k less than KBB said it was worth just to expedite the process. I got a second job and my wife and I took no mercy on Sallie Mae. Here I sit typing this, only roughly $2,000 from being debt free. The sacrifices I've made have been deep. No restaurants, no movies, no Alabama football season tickets, no home internet, no smartphone with data plan, basic cable and tuna for lunch every day. I chose to live this lifestyle because it meant reaching my goal faster (ok I'll admit, I have a bit of an obsessive personality, I am a car guy after all). </p><p></p><p>I say without hesitation that Dave Ramsey changed my life. And not just from a personal finance perspective. Doing this made my marriage better. Following Dave's advice forces you to become goal oriented. I am now about to start a masters degree program (MAcc in Accountancy) in the spring (paying cash, of course). My wife is also finishing her degree next year. </p><p></p><p>Was I stupid? Absolutely. But I don't think my story is unlike a lot of others out there. I certainly fell into what you would call "normal." And doing what I've done over the last 2 1/2 years would definitely NOT be considered by most people to be normal. Most of Dave Ramsey's advice certainly falls into the category of common sense (get out of, and stay out debt, invest/save and live within your means). Unfortunately, it's becoming uncommon in our culture of hyper consumption. </p><p></p><p>I'm not going to push Dave Ramsey on the OP, or anyone else. In fact, there hasn't been ONE person I've recommended him too in my own circle. It's just not my style.</p><p></p><p>Just wanted to throw my experience out there. I don't think the OP was looking for any life changing solutions. The suggestion was appropriately made by s.x.i. and I think that's really all there is to it. It's ultimately up to the individual.</p></blockquote><p></p>
[QUOTE="Bens4vcobra, post: 10115607, member: 37560"] I'm not going to jump in the debate here, but given the fact that Dave Ramsey et. al. was mentioned a few times, I thought I'd comment. My personal experience: A few years ago, I graduated college, bought a house and got married all around the same time. I also did one of the dumbest things I've ever done. I financed a new car with NO down payment (2007 GT). I got great terms, so I thought what I did wasn't all that bad. There was also the matter of my student loans coming due. For about 6 months, I lived in denial about the amount of debt I had. One day I stumbled across Dave's radio show by accident. Long story short, the denial gave way to regret and frustration. I sold the GT for $2k less than KBB said it was worth just to expedite the process. I got a second job and my wife and I took no mercy on Sallie Mae. Here I sit typing this, only roughly $2,000 from being debt free. The sacrifices I've made have been deep. No restaurants, no movies, no Alabama football season tickets, no home internet, no smartphone with data plan, basic cable and tuna for lunch every day. I chose to live this lifestyle because it meant reaching my goal faster (ok I'll admit, I have a bit of an obsessive personality, I am a car guy after all). I say without hesitation that Dave Ramsey changed my life. And not just from a personal finance perspective. Doing this made my marriage better. Following Dave's advice forces you to become goal oriented. I am now about to start a masters degree program (MAcc in Accountancy) in the spring (paying cash, of course). My wife is also finishing her degree next year. Was I stupid? Absolutely. But I don't think my story is unlike a lot of others out there. I certainly fell into what you would call "normal." And doing what I've done over the last 2 1/2 years would definitely NOT be considered by most people to be normal. Most of Dave Ramsey's advice certainly falls into the category of common sense (get out of, and stay out debt, invest/save and live within your means). Unfortunately, it's becoming uncommon in our culture of hyper consumption. I'm not going to push Dave Ramsey on the OP, or anyone else. In fact, there hasn't been ONE person I've recommended him too in my own circle. It's just not my style. Just wanted to throw my experience out there. I don't think the OP was looking for any life changing solutions. The suggestion was appropriately made by s.x.i. and I think that's really all there is to it. It's ultimately up to the individual. [/QUOTE]
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Need financial debt advice(paying off)
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