Dave Ramsey


Dave Says - August 22, 2016

What is your opinion on paying cash for a "tiny house"?


A new study by Ramsey Solutions, a leading company in financial education, finds that students who are taught personal finance lessons in the classroom have a better understanding and more confidence when it comes to managing their money.

More and more stupid tax

I started school in December 2012. Luckily, school was being paid for by the VA, otherwise I would have amassed $50K more in student loan debt! However, as it stood, I was roughly $45K in debt with a nice truck and credit card debt. My only income was the GI Bill and a disability check from the VA, totaling about $20K per year. I was drowning!
In April of 2013, I received a lump sum disability payment and immediately went and got a $15K motorcycle loan! On top of that, I wasn't budgeting. I was going out all the time with my roommates, my brothers, and also going to local restaurants to partake in "FREE" poker games that usually cost me $30-40 per night in food and drink. On the way to these poker games I would listen to the radio and I kept hearing these people talking about their stupid mistakes and then I would hear these people yelling they were debt free. I never really knew what the show was because the drive wasn't long enough to barely make it through a commercial break. I researched and finally figured out what it was. Immediately I went and got The Total Money Makeover and I read it in 2 days.
I got rid of my truck in June 2013. I was negative $8,000 on it and got a loan for an $8,000 car. So, I knocked off $9k with that. Then in July I called my amazing Mom and asked her for some help to sell my motorcycle. She gave me the difference to sell the bike, and that knocked off another $9k. I promptly paid her off and continued with my credit card debt.
I graduated school in December 2014 with about $25K in debt still. The whole time I was in school I was having migraines, severe back pain and spasms. I tried getting help through the VA, but this was at the same time the Phoenix VA scandal was going on. In January of 2015 we moved back home to Northern California, so we had to save up money for that and it pushed back my debt snowball a bit. The pain was still there and my Mom advised I see a chiropractor. Sure enough, they diagnosed me with "Military Neck" - a severe misalignment in my spine that was the cause for the pain and spasms. The treatment for the chiropractor was going to be $4800, that I obviously could not afford. My amazing Mom ended up paying that up front and I paid her back in less than 4 months. I paid my final car payment of $5346 in April 2016.
To this day I still have back pain and regularly see a chiropractor, but I am now able to pay for a full year's worth in advance! My only debt is our house. My income ranged from $20,000 and is now over $100,000. Thank you Dave Ramsey for the wonderful work that you do, without your guidance I would have continued to rack up debt and definitely would have considered bankruptcy.
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