You don’t have to go far nowadays to realize that the World is experiencing a financial crisis. I can’t go a day without hearing another horror story about a friend or former co-worker who’s tightening their belt because of the financial blows that they’re suffering. Companies are laying employees off, implementing mandatory furloughs, and their employee’s nerves are beyond frazzled. Thankfully, I’ve found some pretty amazing resources that have helped me to keep a level head while others are running around panicking.
Debt is bad, m’kay?
Many Americans simply view debt as a part of life. People buy things they cannot afford and in the end they’re paying far more than the initial asking price just because they want it now. It’s not just the ignorant that do it, either. I can clearly recall the day when one of my former managers, a man whom I respect dearly, stated “I was born in debt, I’ll die in debt…that’s life.” I was dumbfounded. I had just assumed that someone with his kind of salary didn’t need a credit card, but he was probably much further in debt than me.
Admittedly, I have debt too. I graduated from college in 2002 and am still paying back my student loans. I also bought into the whole “you need to have a credit card to build good credit” thing. Unfortunately, having a credit card meant that I could use the credit card. No more. That ends now, and I plan to use this section to highlight exactly how I’m getting out of debt, including the amazing FREE resources that are making it a fairly painless process for me. More information will fill this section in the coming days.
I can vouch 100% for Dave Ramsey’s Total Money Makeover system (which is free if you just read a library loaner book). My husband and I live debt-free except for our mortgage, which is nearly 10% paid after only 2 years. We use cash-only, which meant waiting 2 1/2 years for a honeymoon, but what a great vacation is was! Debt-free living is true freedom. Way to call it out, Rob!
Dave Ramsey…is…the…man! He and his teachings are one of the primary influences into why I am working towards a debt free lifestyle. What a perfect transition into the next post pertaining to budget management, as it is going to be all about Dave Ramsey and the impact he has had on me.