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Monday, March 03, 2008

Ramsey on Dumping Debt

We're paying off a small debt today. $371.18 that's been hanging on for a few years by minimum payments. This week I believe we'll also knock off a few other small debts totaling close to $500.

The Dumping Debt session in Financial Peace University rattled me, shook me up. God used it to peel the blinders off and inspire me. I found the entire session on YouTube.

Part 1




Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9

Up until Feb 2, 2008, I would have left the $371.18 in our family checking account to build up our cash "cushion" so that we'd have some "float" in between paychecks. I never wanted to consider why I was always building up the float money and never seeing the cushion. Sloppy budgeting ate it up each week. With the initial $1,000 emergency fund and a zero-based budget, that excuse is out the window. PAY OFF THAT DEBT!

4 comments:

ron said...

Move that bus! Move that bus!

Oh wait, wrong topic, wrong show.

Kris Hallblade said...

Patrick, I have been enjoying reading your blog entries about FPU. We've been getting off-track financially and this has helped us get excited about paying down the debt. Thanks for the links to the videos, too. I've watched six out of the nine and am looking forward to watching the rest this afternoon.

Carla Stream said...

Hi Kris,
Let's start planning The Debt Free Dance Party!! 80's tunes, Break Dancing and Music Trivia of course.

Go guys go!!

Pat Stream said...

Hi Kris. Thanks for stopping by!!