I mention our financial “advisor” Dave Ramsey quite a bit on here, but he has become kind of a sensation in the debt freedom world. So many Americans, just like us, have been spurred on by his enthusiastic talk into getting a handle on their personal finances in pursuit of permanently living debt free. Hubby and I listen to his nationally syndicated radio show every single weekday, and it plays a huge role in keeping us motivated.
Dave’s show is relatable with regular folks sharing not only their financial worries but their successes. His debt-free Friday broadcast is especially encouraging because newly debt free listeners call in to describe where they started in debt and how much they paid off - on the low end $5,000 and on the high end $500,000 or more. My fellow Californians, you’ll even hear stories from the Golden State in spite of the ridiculously high mortgages. At the end of their segment, they literally shout “We’re DEBT FREE!!!” He reaches a broad audience even though he has some Christian undertones, but it’s by no means a Christian broadcast, Dave is open minded. You’ll hear stories ranging from a construction worker making 25K/year to a medical professional earning six figures.
The common goal that all callers and listeners share is obtaining financial freedom - not letting the banks and lenders own you - taking control of your own life, and not waiting on the government to fix your financial problems. I especially love Dave’s brash downright “tell it like it is” style. I wouldn’t recommend him to the sensitive type, but if you would like a little push, then I suggest listening for yourself. We subscribe freely to the daily podcast on ITunes. A recent show I recommend, is the September 23, 2011 air date. Simply go to the archives on his website and choose that date. It’s free insightful financial advice!
Everything is shaping up just fine with our savings for September. Man, we CAN’T WAIT to tell you how much we saved at the end of this month. The big reveal will come towards the end of the week. How are we doing it? We’re applying Dave Ramsey’s rule of “live like no one else, so later you can live like no one else.”
Simple rule but difficult to abide by.
One of the best tips that I can offer for reeling in monthly spending is to use cash instead of the debit card (and of course NEVER the credit card). The cash envelope system is another money saving strategy inspired by my financial guru, Dave Ramsey. Hubby and I have found that we spend wisely when we pay cash versus swiping a card at checkout. There’s something psychological about handing over physical money that makes it a heck of a lot harder to part with and makes us more aware of what we’re spending on. And when I say cash envelope system, I literally mean that we withdraw an allotted amount of money each week from the ATM and place it in the envelope pictured above. This money covers all of our expenses outside of standard monthly bills and rent. If we head out to the grocery store or farmers’ market, we grab the cash envelope. If we are down to our last $20 at the mid week point, well, then we can’t buy much else for the rest of the week, and that’s that! When the money is gone, we do not head to the ATM, we simply quit spending money until the next week rolls around and we have a freshly filled cash envelope.
Common sense from our grandparent’s generation that has been lost on our generation. Personally, I feel our society has become a bunch of zombies mindlessly swiping a piece of plastic multiple times of day, every day of the week. Convenience can be a detriment in the long run.