Hiding late mortgage payments, back in CC debt. Hi again.

iVillage Member
Registered: 05-09-2002
Hiding late mortgage payments, back in CC debt. Hi again.
14
Sun, 01-01-2012 - 10:15am

I've been here on and off for a decade.

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iVillage Member
Registered: 04-16-2008

Just want to add although there are a number of Dave Ramsey fans at this board, I cannot stand him!

iVillage Member
Registered: 05-09-2002
Ahhhhh thank you!!! Me too. He drives me NUTS. Gazelle like intensity etc., etc. I feel like it is not the way to go at all. At least for me. What are some of the "rules" you violated that worked for you? Would love to hear them if you are open to sharing.
iVillage Member
Registered: 04-16-2008

This is what I can think of right now:

1.

iVillage Member
Registered: 08-24-2007
Hi ldp328 and welcome back to the boards.

I just wanted to chime-in with demontespan. Take what you will find useful from various financial plans and then morph it into something you can use -- don't feel pressured to follow Dave Ramsey letter-for-letter.

Like demontespan, I also don't use the envelope system. And I didn't destroy my credit cards. In fact, I tried buying groceries with cash, but eventually reverted back to my credit card. Cash just didn't work for me and I like collecting grocery points (I average about $250 in free groceries per year). I understand that for others, it's hard to control themselves with a credit card, but for me it isn't the case. I paid off over $16,000 in credit card debt and it was so painful, it keeps me in check! Credit cards don't tempt me.

I also made regular retirement savings contributions while paying off my debt.

I do use sinking funds -- they give me so much peace of mind and have kept my finances so organized, that I would never revert back to my old way of handling money.

And I did save the $1,000 emergency fund first and it was a Godsend. It helped me not fall backwards during my debt-repayment years.

Just take whatever tips resonate with you and ditch the rest.

Good luck!

Kate


empty purse

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