I just love to watch David Ramsey’s podcast. You can do so yourself by watching them on You Tube. For me personally, financial debt causes a lot of stress. If I do not have the money to pay the bills them I become overwhelmed with anxiety and fear. It is not so much these days that I do not have the money to pay the monthly bills, it is the fact, that instead of gambling a few months back, I became an online shopaholic. I traded one addiction for another. Go figure, and I started racking up my zero balance credit cards to the brink of their limits. So now I have more added financial stress.
For me personally, I do not like to owe money, especially for materialistic things that seem at this point, to serve no purpose. So here I am, feeling stupid, having to pay off these credit cards. I am however, proud of myself for not gambling, and for not shopping online. I am focusing my energy elsewhere into writing, and working on remodeling houses.
Below is David Ramseys video on how to pay off your debts using the snowball method. This method works. I am happy to say, I have successfully paid off one credit card, and now moving on to the last three. I have closed the paid off credit card account.
Just to note, Ramsey is correct. Money management is NOT a money problem, it is a behavior problem.
I’d like to refer to this blogging as: Money Talks! Why I am certainly no expert of money, I have recently been listening to podcast by financial expert, David Ramsey, here in America. Being a gambling addict myself, has put myself into financial stress by racking up my credit cards, and saving my cash for casino adventures. Although I have been gamble free now for 25 days, 1 hour and 48 minutes, the horrors of my past habits, have been ringing in my ears. I for one personally, don’t like to owe anyone anything. My husband on the other hand, has taken the attitude that monthly payments is just a part of life, it’s what keeps him motivated to get out of bed every morning to go to work. Ugh! So lets say I have some work cut out for me, to hopefully get us both on the same page. What about you the reader? Are you comfortable with making monthly payments to the banks, credit card companies, mortgages? Do you live paycheck to paycheck?
After listening to several of David Ramsey’s Podcast, there was one in particular, entitled the same as this blog, that caught my interest. Here is what David Ramsey has to say: “If you will do these 5 things over and over again, you will become wealthy.”
Make a budget. Assign every dollar that you have coming in a purpose. You will be surprised by just doing this, how much your money will seem grow. Why? Because when you don’t use a budget, your throwing your money away on things you don’t necessarily need. “You can’t build something without a plan of action.”
You have to get out of debt. David Ramsey refers to paying down debt with the snow ball method, meaning, pay down the lowest debt first while making the minimum payments on the rest. Then take the next lowest payment after the first lowest is paid off, and apply the minimum payment from the lowest and add it now the next lowest, while paying the minimum on the rest. This method, not only keeps you motivated because your actually seeing results faster, but keeps you winning the game. If you’re unsure about what it is I am referring to, I am sure you can google it, the snow ball debt plan.
Live on less than you make! Don’t stay stuck in a low paying job, get a higher paying job. Do something, instead of relying on the government to get you out of debt.
Invest with cash money
Have any of you looked at your monthly interest rates on your credit cards, mortgages, car payments? It is totally ridiculous, and that is how we as the people, are allowing the banks, and these companies to get rich. We as the people need to stop giving our money away and take our power back. We don’t need credit cards, that’s what our debit cards are for. Who needs a credit score when you can pay with cash! Learn to have patience and learn to say NO, to every little need you may have.
I am so excited to start this journey of financial freedom. Once I stopped gambling, miraculously I had all this extra cash laying around to use towards paying those debts off. One less bill at a time, one less bill a month, and so on.
Below is the link to the YouTube Video. Please Watch and enjoy!