How to get out of debt by plumcheeks (Sara)

"It's totally worth doing because now I'M DEBT FREE!"

How I did it: One day at a time, one pay check at a time and a little help from my wonderfully generous parents.  Keeping and following a very detailed budget for each pay check was the best thing that helped me stay on track.

Lessons & tips: Keep at it.  You might have some setbacks, with having to pay for an emergency (a $1,000 emergency fund helps though) and you might slip and go buy some things with your credit card (cut them all up)...but just pick yourself back up and keep paying it off as much or as little as you can.  Jump over those hurdles and keep moving forward!

Resources: Dave Ramsey's Financial Peace book and Microsoft Excel for the budget.


50 people found this helpful
 

Sep 15, 2008, 01:57PM PDT | 16 comments | 73 cheers


Comments:

Rintin35

Congratulations!!!

This is HUGE!!!! How will you celebrate, oh disciplined and committed one??

I’m very happy for you Plum!
xo

Sep 15, 2008, 03:07PM PDT | Respond to this 1 cheer

onebaygirl

It’s a wonderful thing!

Sep 15, 2008, 08:47PM PDT | Respond to this

Turnip33 is carving a new iPod from mahogany.

That's Awesome!

Now it’s time to hit the casino to celebrate. No, wait! – (Don’t do that.) LOL.

Way to go. It must feel great to be free of the monetary shackles.

Now I guess you can take all the usual funds you used to climb out of the hole – to start building a mountain…. A MOUNTAIN OF MONEY!!!

Sep 23, 2008, 10:28PM PDT | Respond to this

DiosEsAmor

Dave Ramsey

Dave Ramsey is my hero! I am trying to get out of debt and I do need to pick myself up off the ground often. Dipping into my emergency fund is dangerous but sometimes i do it, aah! Sitting down and doing the monthly budget is SO important but sticking to it is even more. I’m so PROUD of you and can’t wait to be financially free myself. :)

Sep 25, 2008, 03:22PM PDT | Thread | Respond to this 3 cheers

Kinchan1

Dave Ramsey has some good information, but he really only barely skims the surface…that’s why I got out of credit card debt using his techniques but got right back in it six months later.

Best financial advice I’ve every followed on getting out of debt (plus addressing everything else that affects it including savings, spending, and taxes) is at www.mymoneyplan.net and www.moneymastery.com. Also read the book “MONEY: What Financial ‘Experts’ Will Never Tell You”. I think you can find it at Amazon.com and Barnes & Noble.com.

Hope that helps!

Feb 04, 2009, 04:57PM PST | Thread | Respond to this

raymondo54 smoke free

Re Dave Ramsey

I live in the uk. Our Dave Ramsey is a guy called Martin Lewis who has his own,infrequent TV program and guests on many others.He has written a couple of books and has regular podcasts to his own internet site which is advertisement free, and is the only website here that has been publicly praised by the UK parliament for its main content in helping the consumer become debt free…Its subtitle is “Consumer Revenge” and can found on

www.moneysavingexpert.com

It regularly attracts about 300,000 new members annually

I’ve put this info here because, lets face it we’re all in the same boat here only ours hs a different shape to it £=$

To you all good luck

Mar 14, 08:42AM PDT | Respond to this

hollykin

congratulations!

This is great news… very inspiring!

Sep 25, 2008, 03:26PM PDT | Respond to this

marialeigh knows tomorrow will be better--yes it will--I know it will

CONGRATULATIONS!

This is a huge accomplishment. I don’t think I’ll ever achieve this. I’m going to take your advice though and keep at it one day at a time—one pay check at a time.

I’m so happy for you.

Sep 29, 2008, 07:03PM PDT | Thread | Respond to this 1 cheer

sort77 there is only now

You can totally do this.

If me and Mr. Spendy-Mc-Spends a lot can do it anyone can. :D It isn’t easy but definitely achievable.

Oct 16, 2008, 01:49PM PDT | Respond to this

txdiva is in a state of confusion

Congratulations!!!

Microsoft Excel is a life saver!!! I have our entire list of debts on Excel and it makes it so much easier to look at.

I heard about Dave Ramsey’s books; he’s supposed to be pretty good. I might have to pick up one of them.

Oct 04, 2008, 02:10PM PDT | Thread | Respond to this

wbmsic reach out and touch someone

Dave Online

Before you pick up the book, I’d suggest that you listen to a Debt Free Friday at:

http://www.daveramsey.com

The feeling of thrill I get from hearing some people scream at the top of their lungs: I’M DEBT FREEEEEEE…. is just priceless and gets me sooo pumped up.

Oct 07, 2008, 03:17PM PDT | Respond to this 1 cheer

littleruby

woohoo

that is so awesome!
and i love dave ramsey too – good work!!!

Oct 25, 2008, 06:06PM PDT | Respond to this

selena802

Get out of debt

I am a big fan of Dave Ramsey too. He’s got a lot of good info in his book. I am a financial counselor as well…and have used a lot of his advice with my clients as well as other insider secrets I have picked up along the way. I got my credit card interest rates lowered significantly…so that definitely helps when trying to pay down debt! Congrats to all that have paid off their debt! Those in the process, just keep going! You will get there.

Nov 16, 2008, 03:20PM PST | Respond to this 1 cheer

kmom2468 is knee deep in the hooah!

Congrats! Congrats!

Sooooo happy for you! And thanks so much for all the encouragement that you’ve given me. I’m still far from debt free, but at least I know it can be done! Many blessings as you travel on your new debt free life!

Dec 07, 2008, 05:06PM PST | Respond to this

dirgon needs to start updating his 43Things entries more often.

Congratulations!

Absolutely fantastic. Way to go. You lived like noone else so now you can live like noone else. That is fabulous. In a little over a year, my wife and I too will be calling and yelling that we are debt free!

Jan 31, 2009, 07:20PM PST | Respond to this

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Feb 08, 2009, 10:07PM PST

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Jun 04, 12:31AM PDT

Sexywhenshewana is taking it one day at a time.....

Congratulations, it’s inspiring….I am familiar with excel, but I can’t remember the formulas…

Oct 09, 07:37AM PDT | Respond to this


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