2016: Get your money in order

Jan 2, 2016 2:22 AM

dla34

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Personal Finance 101

Saw a post a while back looking for information on how to get your money under control. These are Dave Ramsey's 7 baby steps to personal finance. Find out more here: http://www.daveramsey.com/new/baby-steps/

If you want proof that it works, go to YouTube and search "Debt Free Scream." Then watch all of them. and cry sometimes. you big sap.

There are a ton of tools on his site about how to budget, which most people say is the key to everything else (and makes you feel like you got a raise).

I've listened to the Dave Ramsey podcast for years (free, three hours per weekday) and I still learn new things/get inspired to manage my monies. If you need more, you can check out his blog, buy Total Money Makeover, or attend Financial Peace University in your area.

Step 1: Start an Emergency Fund

$1,000 keeps your head above water. Put it in a savings account or money market - not trying to build interest, but only for real emergencies.

Step 2: Pay off all your non-house debt

Debt snowball FTW. Minimum payments on everything, attack the smallest debt and once it's paid off, throw what you were paying on the next biggest one. Repeat.

Step 3: Complete your full Emergency Fund

Once your debts are paid off, 3-6 months worth of expenses gives you breathing room for major challenges, but there are definitely circumstances where you may want to save more (pregnancy, potential layoff expected, major medical expenses in the future).

Step 4: Start contributing to retirement

15% of your income into retirement - there are way more specifics on his website (Roth vs. traditional 401k/IRA, which types of funds, etc.). When asked to name the greatest invention in human history, Albert Einstein simply replied "compound interest."

Step 5: Start on kids' college fund

Lots of tips on how to plan for kids going to college if your kids are about to go to college in next year or 18 years out.

Step 6: Pay off your house early

'Once you pay off your house, the grass underneath your feet will feel different.' - Everyone who calls in to his show to say they paid off their house

Step 7: Increase generosity to ludicrous speed

Going plaid with charitable donations, yo.

[Starship Troopers] Do you want to know more? http://www.daveramsey.com/get-started/debt

What other resources are there to help people?

[Front Page Edit] First - thank you! Second, a few points based on the comments:
1: You need a budget and when you do it right, it will feel like you got a raise. Lots of free tools out there including Mint or he has an iOS app called EveryDollar (from his budgeting philosophy that you need to sit down at the start of each month and assign every dollar a name)
2: Paying down the smallest debt first doesn't make financial sense, but personal finance is all about personal behavior and he says its proven from all the people who have gotten out of debt on his show that the small initial wins give people the motivation to keep going because they see the light at the end of the tunnel.

Hope this helps! For more, check out his free podcast or go to Reddit r/personal finance for more discussion.

Pro tip: being unemployed makes it harder.

10 years ago | Likes 27 Dislikes 0

then you can not-spend 100% of your income! you're ahead of the game -- Double Speak

10 years ago | Likes 3 Dislikes 0

35 years old, just finished car and school loans, off to finish house in 4 years and live debt free, you can do it y'all !

10 years ago | Likes 8 Dislikes 0

Can vouch for this! This time 2 yrs ago hubs and I were ~10k I'm debt. Now were towards 10k in savings and living well within our means! Yay

10 years ago | Likes 20 Dislikes 1

Good work buddy!

10 years ago | Likes 3 Dislikes 0

I'm at that stage where I have plenty to cover daily expenses and holidays, yet a galaxy away from being able to buy a flat :(

10 years ago | Likes 6 Dislikes 0

Then decide if you want holidays and daily expenses, or a flat. Sounds like you don't have enough for both.

10 years ago | Likes 2 Dislikes 2

Dave Ramsey is the shizzle. For sheezy. Double-plus-good.

10 years ago | Likes 6 Dislikes 0

They should have classes starting in elementary school for this.

10 years ago | Likes 8 Dislikes 1

they used to back when they also prayed and taught logic

10 years ago | Likes 2 Dislikes 0

Insert traditional joke about not having to save up for college in Europe for its completely free here:

10 years ago | Likes 8 Dislikes 0

tbh none of the steps really apply, less worries about medical & education expenses, but buying a house is harder¬ even a goal for many

10 years ago | Likes 3 Dislikes 0

Yeah I thought that, in the UK student loans are managed and healthcare is free.. but getting a mortgage? HAH.

10 years ago | Likes 1 Dislikes 0

I had serious depts (over 30k) and managed to pay them off just recently. Now saving money to get married and start a future.

10 years ago | Likes 7 Dislikes 0

HEY, you found the roll of money I lost, great

10 years ago | Likes 5 Dislikes 0

You Need a Budget. YNAB. On steam, worthwile purchase to keep track of everything you spend money on. You'll see patterns emerge to help you

10 years ago | Likes 12 Dislikes 0

Been using YNAB for years. Love it.

10 years ago | Likes 1 Dislikes 0

I just started. Question: How do I budget for this month when half of the money for this month won't come in until the 15th?

10 years ago | Likes 1 Dislikes 0

You're only supposed to make a budget with the money you have on hand currently. So put whatever money you need to spend before the 15th 1/2

10 years ago | Likes 2 Dislikes 0

Yep, although a good goal is to only use what you earned the previous month, if possible. And build up savings so you have a buffer.

10 years ago | Likes 1 Dislikes 0

in that category and leave the other categories empty until the rest of your money comes in after the 15th.

10 years ago | Likes 2 Dislikes 0

Don't get it on Steam, they literally JUST launched a subscription based webapp that even imports transactions from your bank.

10 years ago | Likes 3 Dislikes 0

I wish I could teach my sister finances instead of her mooching off my parents.

10 years ago | Likes 5 Dislikes 0

You can lead a horse to water. Can't make them grow up. Just gotta love em as they are.

10 years ago | Likes 1 Dislikes 0

If I had an extra $1000 right now to stick in an emergency fund I wouldn't be having financial problems!!

10 years ago | Likes 4 Dislikes 0

That's exactly the point of baby step 1.

10 years ago | Likes 1 Dislikes 0

You'll never have it right now. You can get it five dollars at a time. 200 decisions to save $5 and you are there.

10 years ago | Likes 2 Dislikes 0

How much more would you have this month downgrading your internets package? eliminating it? (too use free wifi offerings)

10 years ago | Likes 1 Dislikes 0

Step .5: Make enough that your entire paycheck isnt sunk into food, gas and shelter every payday.

10 years ago | Likes 7 Dislikes 0

Instructions unclear, invested in the I.R.A.

10 years ago | Likes 9 Dislikes 0

I hate when that happens :/

10 years ago | Likes 2 Dislikes 0

no, invest in I.R.C.

10 years ago | Likes 2 Dislikes 0

Time for a joke: "Hey did anyone lose two thousand dollars rolled up in a rubber band? Because we found the rubber band."

10 years ago | Likes 665 Dislikes 12

Yeah, ok Doc Ock

10 years ago | Likes 45 Dislikes 1

I lost $171 clipped with a binder clip the other night... I really liked that binder clip... Oh. And I wouldn't mind finding the cash too...

10 years ago | Likes 2 Dislikes 0

In case anyone was wondering. Got the binder clip back!! Oh. And the cash too.

10 years ago | Likes 1 Dislikes 0

condom band?

10 years ago | Likes 1 Dislikes 0

Andy Griffith's boy would give it back!

10 years ago | Likes 1 Dislikes 0

Griffin

10 years ago | Likes 1 Dislikes 1

I've heard that one, can't recall the comedian though; Brian Regan?

10 years ago | Likes 1 Dislikes 0

I think it was Moses.

10 years ago | Likes 1 Dislikes 0

I remember it from Spider man

10 years ago | Likes 3 Dislikes 0

Dont quit your day job

10 years ago | Likes 29 Dislikes 1

What if his day job is a comedian?

10 years ago | Likes 5 Dislikes 0

Then he probably needs these tips more than any of us

10 years ago | Likes 7 Dislikes 0

He can if he has saved up 3-6 months of expenses in savings.

10 years ago | Likes 11 Dislikes 0

Only then would it be advisable.

10 years ago | Likes 3 Dislikes 0

Interesting point about Step #7, Prophet Muhammad said giving in charity does not decrease your wealth

10 years ago | Likes 11 Dislikes 2

he also said to find jews hiding behind rocks and kill them

10 years ago | Likes 1 Dislikes 1

I feel sorry for your pathetic existence if that's the thought at the forefront of your mind of all the things you could have picked from.

10 years ago | Likes 1 Dislikes 0

Step 1 make enough money to actually save.

10 years ago | Likes 14 Dislikes 3

Financial planning is simple. Live below means. Save for future expenditures. Get rid of debt fast to not pay interest.

10 years ago | Likes 25 Dislikes 3

Hard to believe Ramsy makes millions off of just repeating that one line over and over and over.

10 years ago | Likes 4 Dislikes 0

But I NEED a mobile phone with data, and hone internet, and a big tv, and a new phone every year, and a sports car, and pets

10 years ago | Likes 2 Dislikes 0

Financial planning is simple; executing on the plan isn't. "Approximately 62% of Americans have less than $1,000 in their savings accounts,"

10 years ago | Likes 20 Dislikes 1

The thing is... is a savings account the best place to put your savings? if not then people just might not use it...

10 years ago | Likes 1 Dislikes 0

My god. That's so scary. I made minimum wage most of my life and it took 8 months of no job to get that low.

10 years ago | Likes 2 Dislikes 0

I literally have a dollar

10 years ago | Likes 6 Dislikes 0

Quit bragging about your fancy dollar filled savings account.

10 years ago | Likes 10 Dislikes 0

I apologize. Forgot to check my privilege

10 years ago | Likes 5 Dislikes 0

This reminds me of the "how you compare to others" section of credit karma.

10 years ago | Likes 3 Dislikes 0

This is useful. However, currently I owe 4000 dollars, and only make enough for rent, internet, phone, and food. >.>

10 years ago | Likes 54 Dislikes 6

Have someone else examine your expenditures to find actual needs and cut everything else. Internet and phone are great places to cut or end

10 years ago | Likes 2 Dislikes 0

I've heard many people say crap like this. However, I've earned minimum wage and still saved for stuff I wanted after I paid living expenses

10 years ago | Likes 17 Dislikes 3

Same here! I've had coworkers who make more than I do WITH lower cost of living complain that they're broke when I wasn't. Wants r not needs

10 years ago | Likes 4 Dislikes 1

I'd give my middle nut to only be 4000 in debt.

10 years ago | Likes 4 Dislikes 0

You should sell the milk and keep the cow... if you have no moral quandries with illicit conception

10 years ago | Likes 1 Dislikes 0

I wish I owed $4,000.

10 years ago | Likes 11 Dislikes 1

You can owe me $4000...

10 years ago | Likes 9 Dislikes 0

This is so easy to say and not do, but you cannot afford internet and a phone. Need to figure out a way so that you can.

10 years ago | Likes 6 Dislikes 1

Internet and phone are great but if you went without them for 1 to 2 years you could easily pay that off

10 years ago | Likes 2 Dislikes 1

My friends were really annoyed with me, but I had a 6 year gap without a phone. Textfree has free WiFi calls and texts.

10 years ago | Likes 1 Dislikes 0

If you can't lower your floor then raise your ceiling. Put in 1-2 job applications/day off until you find something that better suits you.

10 years ago | Likes 56 Dislikes 0

I'm saving this one.

10 years ago | Likes 6 Dislikes 0

Internet at library or restaurant.. Basic phone not smartphone.. Probably save over $100 right there.. Cable or sat TV? Don't need it..

10 years ago | Likes 12 Dislikes 2

This. People think they need so much connectivity. Most of it's available for free anyway, just go to the library!

10 years ago | Likes 5 Dislikes 2

Unless internet/phone are being used for work (could be freelance), then 100% this. Those taxes you pay support the library you're not using

10 years ago | Likes 4 Dislikes 1

unfortunately most ever large meteo library I've tried blocks VPN

10 years ago | Likes 1 Dislikes 0

Put forth your best effort at your place of employment. If there's no opportunity for advancement, build your resume and look elsewhere!

10 years ago | Likes 12 Dislikes 0

Most of the time there's room to tighten the belt on at least one of those.

10 years ago | Likes 23 Dislikes 1

Oh trust me, I've tried. I even quit drinking and smoking to help. I still only end up with like, a 20$ leave. :/

10 years ago | Likes 6 Dislikes 2

You are debt free in 16 years and 8 months.

10 years ago | Likes 7 Dislikes 0

$20 is still something though

10 years ago | Likes 9 Dislikes 0

If your phone I'd a data phone then drop to a basic. Drop your Internet to the slowest and cheapest package available.

10 years ago | Likes 6 Dislikes 0

I did! :(

10 years ago | Likes 1 Dislikes 0

Then nose to the grindstone with that $20. We all start somewhere. It was hard for me at first but the financial freedom is amazing.

10 years ago | Likes 3 Dislikes 0

Right? I'm living paycheck to paycheck. Honestly if you can afford to do this stuff you're doing damn good compared to a lit of folks.

10 years ago | Likes 39 Dislikes 3

It's true. But still, with the interest on the debt, I'm getting no closer. :/

10 years ago | Likes 5 Dislikes 0

Debt and poverty is pretty hellish to escape. I like how people are like "oh just do this It's so easy" if it were easy we wouldn't be here.

10 years ago | Likes 1 Dislikes 0

If you have problems with interest, might be worth it to get another credit with low interest and use it to pay off the expensive one.

10 years ago | Likes 1 Dislikes 3

Talk to your family/friends they might be able to help you.

10 years ago | Likes 3 Dislikes 1

A lot. Don't lit folks. I don't know what it means but it sounds bad.

10 years ago | Likes 16 Dislikes 1

Well it's like they say, if you built a person fire they'd be warm for a day, but if you lit a person on fire they'd be warm for life

10 years ago | Likes 4 Dislikes 0

Yeah! Don't lit people on fire.

10 years ago | Likes 5 Dislikes 0

10 years ago | Likes 3 Dislikes 0

You need a sugar daddy? Because if you find one, let me know. I need one, too. o_O

10 years ago | Likes 6 Dislikes 1

I'll sponsor you.

10 years ago | Likes 1 Dislikes 0

Oh god I wish. Hahah!

10 years ago | Likes 1 Dislikes 0

Actually, I just snooped your profile. I will be your sugar daddy. Thanks.

10 years ago | Likes 2 Dislikes 0

Lol! Aww :D

10 years ago | Likes 2 Dislikes 0

Can you cook?

10 years ago | Likes 2 Dislikes 0

I can, actually! :D

10 years ago | Likes 1 Dislikes 0

I'm British. What's "medical expenses"?

10 years ago | Likes 7 Dislikes 0

VAT

10 years ago | Likes 1 Dislikes 0

I'm German. What's non-house debt? What's a college fund?

10 years ago | Likes 5 Dislikes 0

Dave Ramsey is really helpful when you need the motivation to get out of debt. Avoid his "endorsed local providers" like the plague though.

10 years ago | Likes 39 Dislikes 1

So true

10 years ago | Likes 1 Dislikes 0

[deleted]

[deleted]

10 years ago (deleted Sep 1, 2018 8:47 PM) | Likes 0 Dislikes 0

Darn it. Now I have "Twat-waffle, Twat-waffle" going through my head to the Spider Man theme. *sighs* YOU GET AN UPVOTE.

10 years ago | Likes 2 Dislikes 0

twat-waffle +10 well played sir well played

10 years ago | Likes 4 Dislikes 1

I've dealt with both his insurance and investing ELP's in the past and in my area both were fantastic.

10 years ago | Likes 2 Dislikes 0

That would make you one of the exceptions. Especially on the investing end his ELPs are known to put their own profit (and Dave's) first

10 years ago | Likes 1 Dislikes 0

We have been meeting with one for about a year now, and i have had nothing but great experiences.

8 years ago | Likes 1 Dislikes 0

As a german apprentice, I don't need either college or medical savings and already save a lot of money each month. :)

10 years ago | Likes 5 Dislikes 0

"Pay off all non house debt" yes that's easy when you have tens of thousands in student debt. Pft.

10 years ago | Likes 59 Dislikes 12

If it was easy it wouldn't be a problem. Work hard now, save hard now, live frugally now, pay off big later.

10 years ago | Likes 4 Dislikes 1

Listen to the debt free screams. Some of those people have gotten through a 100k debt, with kids! It takes time, and effort, but it's doable

10 years ago | Likes 35 Dislikes 1

I'm finally under 50K in student debt. Frankly I'm proud of myself.

10 years ago | Likes 17 Dislikes 0

10 years ago | Likes 12 Dislikes 0

Step 0: Make a livable wage.

10 years ago | Likes 232 Dislikes 12

Step -1 learn skills that provide value to employer

10 years ago | Likes 3 Dislikes 0

effort?!

10 years ago | Likes 2 Dislikes 0

Well he usually aims his talks at people who have poor spending habits. Being poor in general is a different mountain to climb.

10 years ago | Likes 34 Dislikes 0

Ramsey's advice is aimed at married couples who own a home. His baby steps fall apart very quickly for the rest of us.

10 years ago | Likes 10 Dislikes 0

Look for a better job. You have to be part of your own rescue.

10 years ago | Likes 4 Dislikes 1

Step -2: Wake up and embrace dystopia. Step -1: Dehumanize yourself and face to bloodshed.

10 years ago | Likes 45 Dislikes 3

damn, looking through my favorites and I see this. a lot different 8 years later. not for the better

2 years ago | Likes 1 Dislikes 0

Perhaps seek other opportunities if you feel you cant succeed?

10 years ago | Likes 11 Dislikes 5

As somebody who's been poor most of my life - when u make shit wages you have to change what's "livable" and sort out needs vs wants (1

10 years ago | Likes 6 Dislikes 0

Roommates. No eating/drinking out. Wait for movies. Use electronics/clothes until they DIE. Then when u make more, living simple is easy. :)

10 years ago | Likes 4 Dislikes 1

virtually everyone can afford to spend less than they are in this country.

10 years ago | Likes 3 Dislikes 1

Sorry Bullshit: i lived for 3 years on Germany's Wellfare money (around 500$ a month). Depositin 120$ for retirement extra, and 2)

10 years ago | Likes 1 Dislikes 0

to watch not to save to much money (i wasn't allowed to have savings over 5000$ when living on wellfare! ) did microjobs etc. 2)

10 years ago | Likes 1 Dislikes 0

But i handled everything with care. My Car, my Computers, my Electronics, Cloth etc..

10 years ago | Likes 1 Dislikes 0

Now with proper Job i don't know where to spend money, because i learned how to live from few. A lot of poeple complain that Wellfare

10 years ago | Likes 1 Dislikes 0

isn't enough here in Germany, but i know lot of poeple which life from it, and some of them can't keep money and die in the loan trap...

10 years ago | Likes 1 Dislikes 0

Agreed, I'm super broke: haven't even been able to eat this weekend...:( started this year pretty bad. And I hate asking anyone for anything

10 years ago | Likes 3 Dislikes 1

Do you have a Paypal account?

10 years ago | Likes 3 Dislikes 0

Yes I do it's pmarisol08@gmail.com

10 years ago | Likes 1 Dislikes 0

updates?

10 years ago | Likes 1 Dislikes 0

I ate chips for lunch, and I'm gonna have a good time getting to work this week, expecting rain all week and I take the train from LA to OC

10 years ago | Likes 1 Dislikes 0

Same here. Family of 3 making 20k/yr. $1000 in savings is a laughable dream...

10 years ago | Likes 3 Dislikes 0

I jokingly asked my friends to deliver me a pizza, and they laughed,been in bed since Wednesday, first check will be next Friday sigh

10 years ago | Likes 1 Dislikes 0

Omg where do you live?

10 years ago | Likes 1 Dislikes 0

Houston, TX. Do we know each other irl? >.>.

10 years ago | Likes 1 Dislikes 0

I'm in California

10 years ago | Likes 1 Dislikes 0

No we don't? I was asking because of the income

10 years ago | Likes 1 Dislikes 0

Favoriting for when I decide to adult

10 years ago | Likes 6 Dislikes 0

Did you do anything with this post?

8 years ago | Likes 1 Dislikes 0

It’s gonna be a no from me dawg

8 years ago | Likes 1 Dislikes 0

Dang! It changed my life! We are debt free now. We even went on the Dave Ramsey show last month

8 years ago | Likes 1 Dislikes 0

I'm on step 6. It took me a long ass time to get here. Good luck to you all.

10 years ago | Likes 28 Dislikes 1

If you don't mind me asking, how much debt did you pay off?

10 years ago | Likes 2 Dislikes 0

In CC alone it was a little over $30k. My car was $50k, and my current home was $180k. I owe $50k on my house and I'll be debt free.

10 years ago | Likes 4 Dislikes 0

Wow, that is impressive! Nice work! Still on Baby Step 2 myself, $24k to go!

10 years ago | Likes 4 Dislikes 0

Most people never even start step 2. Good for you. They just pay minimum and/or get another card.

10 years ago | Likes 2 Dislikes 0

Listening to those Debt-Free screams help keep me motivated!

10 years ago | Likes 4 Dislikes 0

What are your tips on how you got there?

10 years ago | Likes 7 Dislikes 0

It took a while but once I was able to get rid of them I could finally get cable again and put money away.

10 years ago | Likes 4 Dislikes 0

I was young and stupid with CC's. I just said screw it one day and started putting as much as I could to pay them off.

10 years ago | Likes 6 Dislikes 0

I can now put 25% of my salary towards my 401k and have enough to put 2x my mortgage. I should be done with it in 3 years.

10 years ago | Likes 15 Dislikes 0

That is awesome. Aspirational for those of us earlier in the journey.

10 years ago | Likes 9 Dislikes 0

It sucked man. I just got sick of giving $300+ monthly on interests. I didn't go on any vacations, limit fast food, no more strippers. Lol

10 years ago | Likes 6 Dislikes 0

Tell us more? We've been struggling to stick to a budget and snowball. Classic married, kids, mortgage, car note and student loan scenario

10 years ago | Likes 3 Dislikes 0

I was in your situation. Thankfully I never had student loans. I did have tons of CC debt though. I was overwhelmed for a while.

10 years ago | Likes 3 Dislikes 0

We have one card, that gets paid down regularly, most of the balance was due to a family emergency.

10 years ago | Likes 3 Dislikes 0

Said no to vacations. No to any trips at all. I paid minimum on all but one card. I paid whatever I could on one of them to get it paid off.

10 years ago | Likes 3 Dislikes 0

I cut the card as soon as I did. I would just follow the pattern one by one until I was finished. Took me 6 years. It was painful.

10 years ago | Likes 3 Dislikes 0

How old are you now? I'm 20 and got my first cc and I'm so scared of bad credit I pay off everything as soon as the charge goes through lol

10 years ago | Likes 2 Dislikes 0

6 years is doable tho. Our dream is to be completely debt free in 10 years.

10 years ago | Likes 3 Dislikes 0

And I can't wait to start being able to save money now, due to asshats I had to move 5 times the first year after I lived on my own,

10 years ago | Likes 2 Dislikes 0

Oh, also, I don't have a new car. I am driving my car until it just can't go anymore. I can probably afford a bad ass vehicle but why?

10 years ago | Likes 7 Dislikes 0

My 91 accord finally gave us the ghost. Bought for 6k 10 yrs ago, was a fantastic deal. Coworkers made fun, but no car debt is awesome.

10 years ago | Likes 5 Dislikes 0

Yeah. I learned my lesson. Bought a fully loaded SUV and to only depreciate 40k since I bought it. Haha Basically threw that money away.

10 years ago | Likes 4 Dislikes 0

It amazes me how uncommon this is. So many people I know with money troubles jump into new car notes, usually before the previous is paid.

10 years ago | Likes 3 Dislikes 0

Yeah. I bought a Kia Soul for my kids mom and it cost me 14k. I wasn't spending more than that for a new car. Haha

10 years ago | Likes 2 Dislikes 0

My civic died after ten years last year and I splurged on a 2015 model. I know a lot more about vehicles now so my goal is to dive it for 15

10 years ago | Likes 3 Dislikes 0

I think it's just part of being young and stupid. Nice car is for showing off only. I'm not like that so I just use it for transportation.

10 years ago | Likes 2 Dislikes 0

A good number of those people I know are well into their fifties. I guess it all comes down to developing habits early on

10 years ago | Likes 2 Dislikes 0

STEP 5 Protip: Don't have kids.

10 years ago | Likes 492 Dislikes 28

Or live outside of America.

10 years ago | Likes 4 Dislikes 7

Don't know why, but I became a lot more focused and successful after kids. Just got headhunted for my dream job and I love my daughters. 1/2

10 years ago | Likes 6 Dislikes 0

I didn't see the point in having kids before, but my overall happiness is way higher now that I'm not just focused on myself all the time.

10 years ago | Likes 5 Dislikes 0

If they would only repeal child labor laws, having kids would be profitable again.

10 years ago | Likes 5 Dislikes 1

With a new family with dual incomes: 1 kid, viable , 2 kids, manageable, 3 + kids, you're courageous af. Bless my mom single with 3 kids

8 years ago | Likes 1 Dislikes 0

Well, having kids is a beautiful thing. If everyone doesn't have kids, you end up like Japan and their crisis they are going through.

10 years ago | Likes 6 Dislikes 9

Living in Japan currently. It ain't bad.

10 years ago | Likes 3 Dislikes 0

Well, they say that your population will reduce by half in a few decades due to such a low birthrate and low immigration rate. Then again,

10 years ago | Likes 1 Dislikes 0

that may be a good thing for such a small country. Property would be cheaper to buy and it wouldn't be so crowded. .

10 years ago | Likes 2 Dislikes 0

Having kids gave me the motivation it took to pursue a better income. When I was single and childless, I just played video games all day.

10 years ago | Likes 17 Dislikes 3

Having a kid seemed to give me strength where I didn't have any before.

10 years ago | Likes 4 Dislikes 1

Fuck. I don't have kids and all I do is work, get drunk, and play games.

10 years ago | Likes 5 Dislikes 0

Please...I give my parents more in support than they've ever spent on me. Lucky bastards...

10 years ago | Likes 65 Dislikes 9

I feel for you, same boat here.

10 years ago | Likes 2 Dislikes 0

Seconded. I'm the best thing that ever happened to my mom lol

10 years ago | Likes 30 Dislikes 2

Are you up for adoption? Then again I'm probably younger than you, but you know, we can work something out.

10 years ago | Likes 12 Dislikes 0

Haha anything is possible

10 years ago | Likes 1 Dislikes 0

Well, in Belgium we get € 800/mnth for our 4 kids and I pay almost no personal taxes because of them. (On my companies I pay full tax ofc)

10 years ago | Likes 10 Dislikes 5

get? or tax credit?

10 years ago | Likes 1 Dislikes 0

We receive (get) child support: 800 for all 4. Oldest is 10. Also, we pay € 300/yr for healthcare for us 6. I wonder how long it'l last

10 years ago | Likes 1 Dislikes 0

OR get married

10 years ago | Likes 2 Dislikes 1

That way you can spend all your money for yourself and having fun can be your highest value and priority. Such a noble cause.

10 years ago | Likes 4 Dislikes 2

Or live in a country where University doesn't cost

10 years ago | Likes 19 Dislikes 7

Is food and diapers and a billion clothes free too?

10 years ago | Likes 6 Dislikes 2

Or go to one that doesn't cost more than you will ever make. Return on investment seems to be overlooked when selecting a college. Why?

10 years ago | Likes 8 Dislikes 0

B/c kids usually don't look to ROI for a degree. I would blame the parents for the most part. I did look at it b/c of not wanting to be them

10 years ago | Likes 2 Dislikes 0

Right. The income difference between colleges dwindles to a negligible amount 10 years after graduation.A B.S. can still be cheap/profitable

10 years ago | Likes 3 Dislikes 0

Who actually has the money available to pay off debt but chooses not to. Is this a thing that happens?

10 years ago | Likes 9 Dislikes 1

Yep, a lot of people don't feel big responsibilities to their debtors. I know one. He has debts with interests, but first pays back friends.

10 years ago | Likes 1 Dislikes 0

Despite they telling him he should pay off the other debts first. He's just a moron.

10 years ago | Likes 1 Dislikes 0

Hell yeah, prime example myself.

10 years ago | Likes 3 Dislikes 0

I a sizeable interest free overdraft which I am well stuck into though i could pay it off with ease. Invested that money making interest

10 years ago | Likes 1 Dislikes 1

I do it all the time. I like to spend money. The debt is manageable.

10 years ago | Likes 2 Dislikes 0

A lot of people just don't REALIZE all the ways they spend their money. They get nickle-and-dimed.

10 years ago | Likes 2 Dislikes 0

Oh yeah. People who think cable, a new car and a big TV are necessities.

10 years ago | Likes 5 Dislikes 1

cable (internet) and a new car may very well be a necessity. We were able to get by with shit cars for years until the brutal commute

10 years ago | Likes 4 Dislikes 2

When he says new car, he means buying a 2016 now, instead of a 2013 coming off a lease or a 2010 with 1 previous owner and 60-80k miles.

10 years ago | Likes 2 Dislikes 0

I started with a bicycle. Free 25 year old pickup truck. $1500 Mazda stick shift. Picked up a VW GTI which was a terrible idea.

10 years ago | Likes 1 Dislikes 0

Sold it to get out from under the loan, rolled that money into a used pickup truck in cash...which dropped a tranny.

10 years ago | Likes 1 Dislikes 0

"Pay off the smallest debt first" is fucking terrible advice. You should pay off the one with the highest interest first, as delaying >>

10 years ago | Likes 27 Dislikes 13

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10 years ago (deleted Jan 11, 2016 12:09 AM) | Likes 0 Dislikes 0

If I'm not mistaken paying off a debt entirely has a more positive effect on your credit rating too.

10 years ago | Likes 2 Dislikes 0

It's more about setting attainable goals and providing some feeling of accomplishment. You're right though, high rate loans cost the most.

10 years ago | Likes 23 Dislikes 0

I thought so too but I had more success paying off my smaller debt then my high interest.

10 years ago | Likes 3 Dislikes 0

>> delaying payment on a higher interest loan will cost you more in the long run. The lower interest loans can wait.

10 years ago | Likes 15 Dislikes 5

Then transfer all higher interest balances to lower interest or 0% balance transfers where possible. Depends on the type of debt I guess tho

10 years ago | Likes 1 Dislikes 0

Exactly. Setup a model spreadsheet and see for yourself!!

10 years ago | Likes 2 Dislikes 1

Agreed - it's more about being able to "see" and "feel" debts going away. Some quickly lose steam without that.

10 years ago | Likes 7 Dislikes 0

Some people work better with the psychology method of getting out of debt. The math method does work, but to some it feels like nothing.

10 years ago | Likes 14 Dislikes 0

It's about changing behavior. And snowballing your payments to pay debt down most Riki-tik. Quibble about math all you want. It works.

10 years ago | Likes 14 Dislikes 0

The maths is pretty clear... this method will cost you more.

10 years ago | Likes 4 Dislikes 7

Not if people get discouraged and stop making payments.

10 years ago | Likes 7 Dislikes 1

Well you won't clear any debt if you stop making payments...

10 years ago | Likes 1 Dislikes 0

I'd normally agree, but some studies have shown the psychological effect of paying small loans off brings more long term success.

10 years ago | Likes 17 Dislikes 0

my bank does not accept psychological effects as payment...

10 years ago | Likes 8 Dislikes 3

This is about where you're putting the more than minimum payments. Not which one you make the minimum payments on and don't pay on others.

10 years ago | Likes 1 Dislikes 0

No, but you can use that for withdrawals. It wouldn't be inaccurate to assume that it may or may not be highly illegal, though.

10 years ago | Likes 1 Dislikes 0

As a European: Why is everyone having debt in the first place?

10 years ago | Likes 7 Dislikes 1

America loves debt

10 years ago | Likes 1 Dislikes 2

We have easy access to credit and we are a nation of workaholics who want the best toys. We don't share much and public transport sucks so..

10 years ago | Likes 3 Dislikes 0

We get a car loan. We don't think carrying a balance on a credit card is a bad idea as long as you can make the minimum payment...

10 years ago | Likes 2 Dislikes 0

I didn't catch on until I read Dave Ramsey and figured out that it would take me three years to pay off my credit card.

10 years ago | Likes 1 Dislikes 0