The other day I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover. There are seven baby steps that you should follow in order that will lead you to financial peace that he discusses in his book which is one of the Top Ten Personal Finance Books of all time that you should be reading. Today, we're going to focus on baby step 3. Dave Ramsey's baby steps are… Baby Step 1 – $1,000 Emergency Fund Baby Step 2 – Pay Off All Of Your Debt With A Debt Snowball Baby Step 3 – … [Read more...] about Dave Ramsey’s Baby Step Three – Fully Funded Emergency Fund
The second baby step in Dave Ramsey’s The Total Money Makeover is to pay off all of your debts except your mortgage. He recommends doing this by using a debt snowball. When Dave Ramsey talks about paying off all of your debts except your home, he means exactly that, all of your debts. This is where you list all of your debts in order from the smallest balance to the largest balance. You should include all of your credit card debt, student loans, car loans, loans to parents, debt to the IRS, money borrowed from your parents or … [Read more...] about Dave Ramsey’s Baby Step Two – Pay Off Your Debt With A Debt Snowball
The other day I gave a brief overview of Dave Ramsey’s baby steps system to financial freedom that he outlines in his book, The Total Money Makeover. There are seven baby steps that you should take in order to gain financial peace. Baby Step 1 – $1,000 Emergency Fund Baby Step 2 – Pay Off All Of Your Debt With A Debt Snowball Baby Step 3 – Fully Fund Your Emergency Fund Baby Step 4 – Save 15% Of Your Income For Retirement Baby Step 5 – Save For Your Children’s College Education Baby Step 6 – Pay … [Read more...] about Dave Ramsey’s Baby Step One – $1,000 Emergency Fund In The Bank
Recently, I was given a copy of the book, The Wealth Cure: Putting Money In Its Place, by Hill Harper to read. You probably recognize Hill Harper and his picture on the cover of the book. He is one of the lead actors on the television show, CSI: NY. Initially, when I saw the book, I was very curious to find out what Mr. Harper had to say about finances, but I quickly found out that he is quite an accomplished man off the silver screen too. Not only has Hill Harper written three other New York Times bestsellers, he is also a graduate … [Read more...] about Book Review – The Wealth Cure by Hill Harper
Have you ever thought about living in a hotel? Because of the day job that I have, I tend to bounce around from one location to another fairly quickly. There are often times when I am working or going to a class for just a couple of months at a time. So, of course, I’m not going to put down any type of roots in that instance. I could rent an apartment for a month to month lease, but the number and quality of those types of apartments are not always the best. Why I'm Thinking About Living In A Hotel So, I started thinking about living in a … [Read more...] about My Next Home Is Going to Be a Hotel and Save $925 per Month
Recently my bank, USAA, who I absolutely love doing business with offered me a deal to refinance my car with a new car loan at a reduced interest rate. So, of course, I pounced on it. I would be lowering my interest rate by almost 1% and moving another loan back to my favorite bank. But, when I called, I was a little shocked at first when my monthly payment actually rose by $4 per month instead dropping. I was expecting my car payments to drop since I was reducing my annual interest rate on the car loan from 4.38% to 3.59%. But, I still took … [Read more...] about I Refinanced My Car Loan, Dropped 1%, And Still Pay $4 More A Month!