VAL0R
Banned
Consider that we have a limited number of years of labor we can give in order to accrue wealth for our lives, our retirement and our children's futures. Yet we often spend many of these years in financial frivolousness and are left with little to show for them. I was listening to famous debt-free apologist Dave Ramsey on the radio and he really made a strong case for striving with great effort to rid ourselves entirely of debt. He argues that once we are free of the chains of debt and endless payments to nowhere for "stuff we don't need to impress people we don't like," we can have true financial freedom. Freedom to assist our children in ways, perhaps, our parents could never assist us. Freedom to give more money to charity and community without hesitation and so on.
I started making debt free goals and plans:
- We refinanced our 30 year mortgage from a fixed 3.75% interest to a 15 year at 3.25%. This single move saves us more than $100,000+ in interest alone over the course of the loan's life!!!
- We paid off our 12 seater van (Catholics, lol) early and now have $440/month back in the till to use against other debt
- I hope to have the PMI removed from my mortgage within 5 months (by establishing a 80% debt to assessed value ratio). This puts another 75$/month in the till.
- I'm considering my options for attacking our combined ~$30,000 college debt (The biggest and last non-mortgage debt I have had for almost 20 yeeears. When this is paid I shall have a party with feasting and merriment.)
My (somewhat ambitious) extended goals:
- Become debt free of all non-mortgage debt sometime 2020-2021. (College loans gone would be another $200/month back in the till.)
- Become 100% DEBT FREE by 2030 (Mortgage gone would be a whopping $2,200/month back in the till!)
I don't want this thread to be just about Dave, but because I'm mentioning Dave, I'll give a link to his site and method here:
https://www.daveramsey.com/baby-steps/?snid=start.steps. And his YouTube channel here: https://www.youtube.com/user/DaveRamseyShow.
So GAF, is it time for you to cut up the nasty plastic cards, pay off debts and get in control of your financial life? Share you stories and successes here!
I started making debt free goals and plans:
- We refinanced our 30 year mortgage from a fixed 3.75% interest to a 15 year at 3.25%. This single move saves us more than $100,000+ in interest alone over the course of the loan's life!!!
- We paid off our 12 seater van (Catholics, lol) early and now have $440/month back in the till to use against other debt
- I hope to have the PMI removed from my mortgage within 5 months (by establishing a 80% debt to assessed value ratio). This puts another 75$/month in the till.
- I'm considering my options for attacking our combined ~$30,000 college debt (The biggest and last non-mortgage debt I have had for almost 20 yeeears. When this is paid I shall have a party with feasting and merriment.)
My (somewhat ambitious) extended goals:
- Become debt free of all non-mortgage debt sometime 2020-2021. (College loans gone would be another $200/month back in the till.)
- Become 100% DEBT FREE by 2030 (Mortgage gone would be a whopping $2,200/month back in the till!)
I don't want this thread to be just about Dave, but because I'm mentioning Dave, I'll give a link to his site and method here:
https://www.daveramsey.com/baby-steps/?snid=start.steps. And his YouTube channel here: https://www.youtube.com/user/DaveRamseyShow.
So GAF, is it time for you to cut up the nasty plastic cards, pay off debts and get in control of your financial life? Share you stories and successes here!