I am currently reading Total Money Makeover by Dave Ramsey. I learned about this book several years back, but did not put the steps into play. I believe that there is a time for everything, and I believe the time for this is now. When I went to college the first time, I was 17 years old. There were credit card offers every where. As a teenager who had not been taught about financial responsibility, I fell for it…hook, line, and sinker. I racked up credit card debt, with only a student work study job to cover payments. Needless to say, that didn’t cover the payments.
When I had to stop school 2 years later, I had this credit card debt, along with some other debt. I started working, but was not making enough to pay the debts off. Eventually, the debts were charged off. When I got back on my feet, I began to pay off the debt that was on my credit report.
Now that I am 36…about to be 37 in one week, I have debt in my life. It is more managed than it was as a teenager, but still debt nonetheless. As I am reading Dave Ramsey’s book, I understand that debt truly is a bad thing. It shows a lack of maturity on our part. As a society, we pay for things that we cannot afford with credit. Can’t afford that plasma tv, just charge it. Can’t afford that new laptop, just open up a charge. I am in no way judging here, because I am in the same boat. But, this is where I jump ship.
I am about to learn a new habit. I can no longer hold on to the fact that my
mother didn’t teach me about financial responsbility. I must take responsibility for it as a grown woman. It is time for me to stand up and take care of business. My goal is to pay off all of my debt. It isn’t like my debt is monumental or anything. I listen to Dave Ramsey’s show on the radio, and I hear people call in saying they paid of $80,000 in debt in two years. My debt isn’t nearly this high. But, it’s more than I am comfortable with. I want a clean slate. The only “debt” I intend to have will be mortgage payments and household bills. If I cannot afford it, I will not buy it, won’t eat it, and I will not be able to go to an event. I am delaying instant gratification so that I can live a better life later.
Dave doesn’t only teach about getting rid of debt. He also talks about having an emergency savings account with six months living expenses in it. Next you start a savings account that you do not touch. He also talks about building your retirement fund. Now, none of this stuff is new. It’s all common sense stuff. Things that we know we should do, but somehow we don’t.
My wife and I are planning to start our family next year. I want us to be able to do so comfortably. I don’t want to have to worry about not being able to get this or that. Some friends may not understand why I cannot go out to dinner, or why I can’t go to this or that show, but they will get over it.
We plan to do invetro. That is an expensive process. I want us to be ready. This is where I take the reigns and do what I should have done a long time ago…and that is, be a responsible adult. God charges us to be faithful stewards of His money. When you are faithful over a few things, He will make you a ruler over many.
So, I ask that you pray for me as I start this journey…a very necessary journey.
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