Dave Ramsey Followers?

[Woodson]

Just wondering about all you guys, I know some of you are MADE men when it comes to finances and can enjoy sitting back and relaxing knowing your $$$ is working for you.

I'm only 30 and the three years previous lived the rock star dream only to look back and see the $$$ I've squandered outside of my gambling budget.

Question:

Any of you guys ever follow Dave Ramsey? Amazing that until now, I've made significantly large amounts of money and let most of it slip through my fingers living that rock star life...

Since listening to him and actually living on a budget, in four months, I've got more $$$ than I ever have...

The way I have it set now, in 15 years I can retire legit and live off my savings I've set aside... saying that I understand that life throws you a curver ball, marriag, babies, medical but wanted to get an idea how earlier some you guys started saving and how it worked out for you 10-15 years later...

Key understanding this year is compound interest...

Any takers as to money disciplined OUTSIDE of just gambling money management?

Thanks as always. And anyones input is greatly appreciated!

 

[dunclock]

Your at an age to keep following this great advice. I was doing the same thing at 30 and thought everything would always be great so take a little advice from a "middle aged", keep putting things away because I ran into a very tough period where actually everything I owned was in my pocket :scared

 

[ageecee]

Been listening to him for a year now and love what he stands for. Its all about discipline and living within your means with Ramsey. Love the way he attacks debt and now im finding myself paying off the house by October.


Hopefully in 2 years i can build the house i want and pay cash for it, thats my goal.

 

[UT-Longhorn]

yes, great guy, love listening to him. We used his program a few years ago and our home will be paid off in 2.2 years!

 

[marine]

Never heard of the guy.

As for other advice, I'm about your age and have an old timer's (think yyz) attitude about spending my money. I can't bear to part with it. I save and scrimp. I try at all possible ways to avoid paying any type of interest charge, yet always take advantage of any type of discount or cash back program I can find to really maximize my savings.

You know, like you see something in the store you want, but if you wait to get home - you can order it on the internet and get 3% back or something.

Maximize the rewards on the credit cards as well, points, miles, cash, whatever it is... just dont pay any interest. ever.
Heck, in the last 2 years I've saved over $800 on gas by always filling up at a shell station and using a shell mastercard for 5% back.

I'm rather weird with savings though... I too often refuse to spend. My wife hates me for it.
Example, about 3 weeks ago I had a great 2 day run on the poker tables, picking up about 4k. To add to it, one day while waiting for a game to start, I was playing a nickel slot and hit a jackpot for just under 5k.
So in two days i picked up 9k.

The next day I am at Home Depot and looking at wheelbarrows... and i sat there arguing with myself that I really didn't need the one for $34.95 and could get by with the cheaper one for $28.95. In the end, I ended up not buying either of them because I could probably get one cheaper at wal mart.

 

[UT-Longhorn]

his main philosophy is live within your means, if you dont have cash for it, dont buy it. (excluding a home)

 

[marcb1oo5]

I had to read one of his books during my last semester of my senior year. I went to a christian liberal arts college. Very helpful book, and yes, he is all about living within your means, and not buying something unless you NEED it and can pay cash for it, or put it on c.c and pay it off immediately. Used some of what I learned in this book, and also had a great run during March Madness. This month I paid off all credit cards, all school loans, new car i got 2 years ago, and an engagement ring. I am about to be 27 and am completely debt free, never thought that would happen. I'm broke now,, only about $3K left after all that but will hopefully be able to save up about $25K within the next 9 months and put it down on a house.

 

[jasperjones]

Ramsey is okay... but I prefer Ric Edelman.

Funny here we are talking about financial commentators in a gambling forum. (I do not think they would condone it)

I am lucky to say in the four years of wagering on sports I have not lost money. (though I have not won much either.)

Check out Edelman.

word

 

[TJBELL]

http://www.daveramsey.com/

Radio 1040 everyday from 2-4PM

Listen to him most everyday. A guy was on a few weeks ago who saw-zal'd his 31 credit cards. That was cool!

Encourages shopping ONLY with cash. Like his show alot!

 

[Morris]

Never heard of the guy till I looked at this thread. I started investing when I was young (20 years old). Never even heard of the stock market but with some disipline put money in every week and that was every week thru a company investment system. I never bought something I could do without. I saw people using lawn services and window washing cos. but I just did that stuff myself. Long story the co I worked at shut down when I was 46. Disaster? Nope I was stable.. the house was paid for and I was retired. I work part time in the summer only and vacation in Cancun every year. My advice is be frugal now, invest and enjoy life! GL

 

[Cie]

I am lucky to say in the four years of wagering on sports I have not lost money. (though I have not won much either.)



word

That places you in the top 10% of sports bettors. Congrats.

 

[Morris]

That places you in the top 10% of sports bettors. Congrats.

Yep, Wish I could say that!

 

[IntenseOperator]

"Moneytalk" with Bob Brinker

good syndicated radio show on weekends in these parts

he has a recommended reading list for those interested