I have a goal/dream/plan/aspiration; call it what you want. I can't wait for my husband and I to be debt free. We have a long road to go what with vehicle loans, student loans, house mortgage etc. It's doable though. I try not to let this rule my life but it seems many times my thoughts are consumed by where our money is going or isn't going. Or thoughts of why wasn't I smarter with my finances in college. It is such a bad cycle to start. I want to end that cycle and teach my children to plan better.
Dave Ramsey, the author of Total Money Makeover, Financial Peace and the host of Dave Ramsey show, has some really good advice on becoming debt free. You should check him out; www.daveramsey.com. Anyway, I digress. Something else he lets people do though that is really fun is call into his show or go to his building and yell as loud as they can, "We're/I'm Debt Free"! I can't wait to do that. What a great feeling. I believe this goal is definitely something that would be pleasing to God as well. He asks us to be good stewards of the things He blesses us with so I believe this would fit into that category. Until then we are going to chip away at our debt and with God's help we will do this!
An Imperfect Step
6 months ago
Does he consider a mortgage to be debt? I've read several money advisors who state that if you can make the payments, it's not considered to be debt--with the exception of things that depreciate in value.
ReplyDeleteSorry Crystal I just say your comment. For some reason it didn't send me a notification. Yes he does consider it to be debt but it's not the highest of his priorities of getting debt paid off. He has what he calls the Seven Baby Steps to Financial Freedom. Paying off your home early is step 6. http://www.daveramsey.com/new/baby-steps/ We aren't following those steps to the letter but it's been a good guideline.
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