I got through to the Dave Ramsey show today! I asked him about selling our house or moving back into it -- we're staying with my wife's parents now and renting out our house. He suggested staying put until staying with the in-laws becomes an issue. He also said I should get a second job to pay off debt.
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According to the teaching of Dave Ramsey and Crown Financial, we are working toward getting $1,000 into an emergency fund before we tackle our debt head on. This will keep us from going into further debt if the car needs repair or something.
We've got $250 saved so far. I may be able to put another $200 in the account, but I'm really not sure how much money I have in my checking account -- a lot of unreconciled debit card purchases.
I get paid tomorrow. We're living with my wife's parents for the time being so we have a lot of extra money to get ourselves on track financially. I don't know how much I get paid -- this will be my first full check at the new job and I don't know what the check will look like after taxes and other deductions. I'm excited to find out!
After payday tomorrow, I might be able to put another $500 into the emergency fund. In any case, I think we'll have the it funded in under a month!
Here goes: we are 32,000 in debt plus a 10,000 car. 28,000 of this is credit card debt. A few thousand of this credit card debt is from my car -- i wanted to bring down the principal on the car loan so I could refinance. 10,000 or so of the credit card debt is related to a stupid timeshare purchase (which we sold to pay taxes last year).
I make $55,000 a year and my wife doesn't work at the present time. We are living with my wife's parents to get ourselves on track financially.
Well, we are in faith that with God's help and a lot of better decisions, we'll be able to get out of debt in a few years.
We're attending a Crown Financial course right now at a local church.
I've been listening to Dave Ramsey on the radio for the past couple weeks on a recommendation from my brother. Boy, does he ever make sense! I'm hoping to be able to bring his Financial Peace University course to my church
I've started 2 blogs in the past which never made it past the first post or two before I gave up. I hope this one lasts longer.