Finance Book » Dave Ramsey

How To Make Exponential Financial Progress By Focusing On Simple Things

Sat, 24 Oct 2009 05:36:08 +0000

There’s a guy I know who is always banging his head against the
same wall… ouch!

He just doesn’t get it. Each month he reads a new financial book or
attends a new “get out of debt” seminar, but his results are always
the same — zilch.

This has been going on for years and his debt continues to grow,
along with personal and family frustrations.

Do you know someone like that? Are you like that?

The way he’s going now, a month of one-on-one with Dave Ramsey
wouldn’t help.

I used to be on a similar path. But then everything started to
change — for the better.

I started to do exactly the opposite of my friend and my debt
started to go down and my peace started to go up.

Here’s what I did and here’s the advice I’d give you.
There’s a way to get out of debt and grow financial peace
exponentially.

And this way always works.

When you apply this advice, your relationship with God and those
closest to you will get better, your earnings will grow, your debts
will diminish, and your lifestyle will improve.

Your life will quickly transform when YOU start to apply this
principle.

Here it is.

WHEN YOU BUILD YOURSELF CONSISTENTLY, MONEY FREEDOM WILL GROW
EXPONENTIALLY.

Remember this: every level of income DEMANDS a different you. Every
step along the path to Debt Fr.ee Living God’s Way REQUIRES a
different you. You can’t get to where you want to be by staying
where you are.

It’s really simple. The fastest way to get out of debt and begin to
enjoy Debt Free Living God’s Way is to learn and APPLY faster.
Ask yourself this: What is one financial habit I can start
improving RIGHT NOW?

Start small. Take one step at a time.

Write this “one way” on a note and put it on your refrigerator..
What will you write? What is the one small step you can take today?

Honestly, you don’t need anyone to give you any suggestions. You
already know what it is. You just haven’t decided to do it. Maybe
you’ve tried. But you’ve never done it.

By the way, I hate it when someone says they’re going to “try” to
change a financial habit. Why? Let me show you.

Look at the desk in front of you. Fix your eyes on something you
are able to pick up.

Ready? Now “try” to pick it up.

What did you do? Did you pick it up or did you NOT pick it up? You
picked it up, right?

It’s the same with financial habits. Don’t “try” to do it, just
start doing it. “Trying” to change a habit will most likely mean
that habit won’t change.

You have to decide. “I’m finally ready to ACT on what I know I
should do. It’s time! I’ve had enough of this debt stuff. I’ve had
it with being out of God’s will in this area. I’m tired of feeling
guilty before God and those I love. I’m no longer going to try. I’m
just going to do it. God please help me because I’m just going to
DO IT.”

Build yourself consistently by increasing your knowledge and
understanding of what God has to say about finances. Then START to
apply. Don’t TRY. Just DO IT.

Take action NOW on one financial principle or one practical
application and stay with it until it becomes a habit (about three
weeks) then move on from there.

You can and will begin to get out of debt. You can and will learn
to experience Debt Free Living God’s Way.

By: Bob Louder

Are There Really Any Debt Cures?

Sun, 27 Sep 2009 21:03:10 +0000

Can you cure your debt problems overnight? Are there secrets that the credit and lending industry wish you did not know? Are they doing their best to keep you drowned under a massive pile of debt with no hope of getting out from under it? This article will attempt to answer those questions using tips from the latest book on debt – Debt Cures.

Are there ways to get rid of your debt problems overnight? No, nothing that is legal anyways. There are ways you can reduce the amounts you owe; you can negotiate your debts down if you are facing collections and the credit card company does not want to risk losing all of what you owe them. Kevin Trudeau in Debt Cures says to show them an income statement and balance sheet showing your assets and liabilities and your ability to pay. If the credit card company can see that you have little to pay them then they may be willing to reduce the amount you owe.

If you are a good customer and pay all your bills on time, you can call up your bank and ask for a lower rate. This is the tip you see all over the net and in most of the finance books by Suze Orman, Dave Ramsey, Kevin Trudeau, and others. You have to do the legwork and ask for a lower rate. Harass them to lower your rate the way a debt collector will harass you if you do not pay. Keep calling, write letters, send emails. If they refuse to budge, go to a bank that will.

There are several ways that people get into bad debt – medical bills, unexpected car troubles, school books, Halo 3, etc. Some of these reasons are unavoidable and some – buying new TVs, buying a new car, buying the latest iPod – are some that should be avoided if you are trying to get out of debt.

The credit card company has no problem lending you money and increasing your credit lines when you keep paying the minimum payments. They love making 10, 15, 20% interest on the money they lend you. And then if you miss a payment or go over your limit, they get to charge you a $29 or $39 fee. When you add this fee onto your annual percentage rate, you are actually pay a much higher rate of interest than the stated rate. This is when it is hard to dig out of debt.

But you know all this stuff right? Many people do, but there are millions who do not take the time to read their statements and watch out for all these hidden fees that compound your debt problems. They have more important things to do. But when you’re in debt and struggling to pay the bills, you’re full of worry and anxiety and you want a way out. The solution is to take the little time to understand what you are being charged for and control your spending.

The banks do not want you out of debt. They do not want you to pay your balance off every month. They want you to go over your limit, miss a payment or two and they especially want to charge you the highest interest rate possible. How else can anyone explain the Universal Default Clause that more banks are adding to their terms? If you make a late payment to one card, this clause gives any bank the right to charge you a higher rate even though you did not make a late payment to them. How does this help someone who is in a financial bind? It only makes the situation worse and makes it harder for the person making the late payment. And then it starts a downward spiral.

How to get out of debt? Stop watching TV. A.C. Nielsen Co. states that the average American will spend 9 years of their life watching TV. That works out to about 4 hours a day. What does TV watching have to do with getting out of debt? If you’re spending your evenings watching TV and you are deep in debt, you’re going to stay that way. What you could be doing is working a second job or selling stuff on eBay to make more money. What you could be doing is reading books about making money and personal finance.

Conclusion

There are no overnight debt cures. There are tips you can follow to help you reduce your debt and keep your interest rates low. Do not give the credit card companies an opportunity to get you in their snares. Pay your bills on time, earn more money to pay off your debt faster, spend less than you earn, check your credit score and you can get out of debt.

By: Adam Tijerina

Are Get Out Of Debt Books A Scam?

Thu, 09 Jul 2009 19:40:18 +0000

Lately, you can turn on the TV late at night and see an infomercial for a new get out of debt book called Debt Cures. On the infomercial, Kevin Trudeau makes some pretty big claims about how to reduce or eliminate your debt, how to cut your credit card payments in half and how to correct your credit with two magic words. It almost sounds too good to be true. This article will take a look at some of the books designed to help you with your debt problems.

Millions of people are in debt and the problem is getting worse as the economy sinks into a recession. People are getting laid off and with no income to pay their mortgage payments, they sometimes lose their houses. What a perfect time to start selling a book that promises to get people out of debt almost overnight.

Just like with losing weight though, there is no quick fix or diet pill that will make you instantly lose 20 pounds in a week. The same idea applies with getting out of debt. It will take hard work, discipline and sacrifice to lose weight just as it will for reducing your credit card debt.

All that being said, I have used the ideas in Debt Cures and The Total Money Makeover to get rid of almost $3,000 of debt in just two months. I have also managed to save up $1,000 in a emergency fund to help with those rainy days that the car breaks down or the kids have a big doctor bill.

Most debt books say the same thing, the only thing you have to decide is which method you want to follow. Dave Ramsey in The Total Money Makeover advocates using a debt snowball to pay down your debts. This method makes you pay off the lowest balance credit card first instead of the highest balance or highest interest rate. There are several personal finance authors who say to pay off the highest balance or highest interest rate first.

I chose the lowest balance first since I get to see results faster and stay motivated. And I am just a few short months away from finally getting my Discover Card paid off.

Debt Cures can help you if you are way behind on your payments. You can try and negotiate your debts down or if you are a few years behind, you can find out of the debt has passed the statute of limitations where you are no longer required to pay it off at all. These two ways can help you reduce some of your outstanding debts.

In conclusion, I would have to say that no, personal finance books that have sound principles are not a scam. The thing to remember is that the book will not do all the work for you. It is just a tool. You have to pick it up and actually use it for any book to work.

By: Adam Tijerina

The Total Money Makeover by Dave Ramsey – A Review

Fri, 03 Jul 2009 07:09:42 +0000

“I had too much debt, too little savings, and no sense of control over my life.” -Dave Ramsey

And then he put into practice the principles taught within The Total Money Makeover. Fact is, Dave has a lot of credibility because he’s been there! I would venture to say that all of us (at one point or another in our lives) have made a similar statement. So feel comfortable about reading this one; you’ll be able to relate.

Myth: I don’t have time to work on a budget, retirement plan, or estate plan.

Truth: You don’t have time not to.

Dave’s book is replete with these small myth-busters that outline the content of his pages. Just like anything else in life, there is fact and fiction in finances. Many of us are raised on certain financial fictions that cause bad habits in adulthood to steal away our freedom to choose and live. Dave looks to stomp out the myths ans show the pathway to financial safety.

Covered within The Total Money Makeover is budgeting, retirement planning, frugal-living, insurance help, saving advice, car buying help, and a number of financial topics that work to educate and change the way we live.

Coming from an a christian man with real christian morals, I find safety in what he teaches. We can’t trust our loan officer when they “approve” us for more than we can afford; nor can we trust our car salesman, claiming that a good lease on a car is going to be the “best thing” for us. But after having read Dave’s practical financial advice, our family has changed our financial behavior. And subsequently, we’ve changed our lives.

Myth: What your parents taught you about finance is all you need.

Truth: The principles in Dave Ramsey’s The Total Money Makeover will change your life and give you what you need to know to survive financially.

By: Trevor Shipp