Dave Ramsey’s My Total Money Makeover: Beat Debt. Build Wealth.

Dave Ramsey’s My Total Money Makeover: Beat Debt. Build Wealth..

Spending a few pomodoros this weekend on budgeting and finances.

Setting goals and making progress thanks to help from Dave Ramsey!

Check out the site above.  Good stuff.

Stay tuned.

Beat Debt. Build Wealth. Set Goals? Yep!

Dave Ramsey’s My Total Money Makeover: Beat Debt. Build Wealth..

Further exploration of this site reveals a goal setting area.

Today, I will spend additional time here exploring throughout the site.

My Total Money Makeover is a pay site and well worth the $10/month fee.

There is much good stuff to find out about.

Stay tuned.

The 7 Baby Steps – Currently working Step 2!

Pay off all debt using the Debt Snowball

List your debts, excluding the house, in order, smallest to largest. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first.

The point of the Debt Snowball is simply this: You need some quick wins in order to stay pumped up about getting out of debt! Paying off debt is not always about math. It’s about motivation. Personal finance is 20% head knowledge and 80% behavior. When you start knocking off the smaller debts, you will see results and you will stay motivated to dump your debt.

via The 7 Baby Steps.

Dave Ramsey’s My Total Money Makeover: Beat Debt. Build Wealth.

Dave Ramsey’s My Total Money Makeover: Beat Debt. Build Wealth..

I am finally making some time this Sunday afternoon to spend learning how to use the budgeting software.  It is great and easy to use, just needed to take the time to learn how to use it!  No better time that Super Bowl Sunday!  Feeling productive!

Stay Tuned.

Journey from Grasshopper to Ant (Financial)

Several months ago, I began writing about my own personal journey as I began my journey from Grasshopper to Ant.  This writing stemmed from my listening to The Survival Podcast (TSP).  Jack Spirko, the host of the show referenced an ant.  Being a newer lister at the time I didn’t really pay any attention.  After hearing more and more about the ant, I became curious.  As I listened to more and more of the podcast, I found EPISODE-298- STARTING THE JOURNEY FROM GRASSHOPPER TO ANT.  My interest in his show grew…and this was exactly what I needed to hear at the time.  I began my journey from grasshopper to ant.

Previous blog posts I have written speak more in depth about this, as the journey from Grasshopper to Ant consists of many steps.  Besides, one doesn’t merely “become” an ant.  This isn’t just a simply journey or a transformation.  The journey from Grasshopper to Ant is really a lifestyle change.   While there is a lot of content and material covered in this podcast, I’ll break it down.  First of all, let’s focus on the first few steps we’ll take on this journey.

  1. Review the old fable of the Grasshopper and the Ant.  I linked to an older episode in the same way it is linked on the TSP site.
  2. Journal your spending and your eating
  3. Write a plan for debt elimination and begin creating an emergency fund

For the time being, this is all I’m focusing on.  For me, smaller lists make the items on them appear more obtainable.  Once I’m debt free, I’ll work on the documentation package.  But first of all, I needed to journal my spending to get back on track for debt elimination.  This is nothing new to me.  For the bulk of my adult life until I was about 30…I had terrible spending habits.  My financial awareness was nonexistent and I had no idea how to manage money.  I had already been through a bankruptcy in my early 20’s, yet I still had school loans and managed to accumulate even more credit card debt by the time I was 30.

I landed a good job and began “the career path.”  I was working harder and more hours, yet my debt seemed to remain.  It wasn’t growing anymore, yet it lingered over my head like a giant black cloud.  My debt was a shadow that never left my side.  With all the traveling I was doing, I found myself listening to a lot of talk radio.  One day, I heard Dave Ramey’s program.

When I heard his show, it was inspiring.  This was not “normal” talk radio.  I really enjoyed his program and the content of the show.  He gave solid financial and life advice and people called into his show proclaiming that they had become debt free!  The stories that I heard were amazing.  I ended up purchasing his books, Financial Peace (Revisited) and The Total Money Makeover.  For me, it was The Total Money Makeover and the easy to follow plan that worked for me and allowed me to get out of debt in my early 30’s.

A few years ago, I needed to travel out of state for a friend’s wedding.  At this point I had been without credit cards for a year or so while following Dave’s plan.  However, rather than save up for it, I decided to get a credit card.  I chose to go back to the easy and more familiar way of spending.  It didn’t matter that I was purchasing on credit – it was easy.  Besides, I was successful and had a good job.  I was on the “fast track” at work and was growing quickly.  I’d pay it back.   No problem, right?

Well…fast forward a few years.  I have since moved across the country and have acquired more debt.  While not as significant as the last round, debt is debt.  I suppose the bright side is that each time I go through this process, my debts are smaller and smaller, which indicates that I’m learning and getting better with my financial habits.  This is encouraging.   After re-reading The Total Money Makeover last year, I decided to get back on board with my finances and my spending.

After reading the book and familiarizing myself with it, I was able to give it away to a family member who seemed interested.  It is nice to be able to spread the word about successful money management.  I don’t ever want to push my values and beliefs on someone else, but if they ask me about my experiences, then I’m more than happy to share them.  In this case, it was easier to simply give my book away.  I’m happy to pass on this knowledge.  Besides, I believe you gotta give it away to keep it.

At any rate, while I was re-reading The Total Money Makeover, I also began listening to Jack Spirko and The Survival Podcast.  While always being a talk radio listener, I began to get a little burnt out on mainstream talk radio.  I first became interested in podcasts via Dave Ramsey’s show.  Podcasts allowed me to listen and learn about more specific topics without being inundated by negative and divisive political talk radio.  I really became a fan of The Survival Podcast because of it’s practical nature and Jack Spirko’s intelligence.

Why go to all the trouble to detail out all of this information?  As Jack Spirko talked about financial wellness as a part of the Grasshopper to Ant journey, he spoke about Dave Ramsey.  I was stoked on this, because I was already hip to Dave Ramsey’s plans and I was already preparing to get tracking (again).  However, this time, I would be tracking my eating as well as my spending.  To do this right, I even went out and bought myself a fancy new Moleskine Reporter Style Notebook.  Very durable and holds up to carrying in the back pocket.

From forward to back, I am tracking my daily spending.  From the back of the notebook forward, I am tracking everything I eat at home and/or pack for my lunch at work.  Restaurants are tracked as a part of “Spending” but not included in the eating.  This journaling is only to be used as identifying what we eat.  Moreover, anything that is eaten that can also be stored and does not require refrigeration or freezing should be highlighted.  Very simple.  For the past month, I have done this.  Check it out:

20130203-094916.jpg 20130203-094823.jpg 20130203-094748.jpg

Today, I’ll begin compiling and crunching these numbers.  I’ll keep tracking over the next month and crunching numbers.  This doesn’t come easy and it sure as hell isn’t quick, either.  The journey from Grasshopper to Ant is a long and arduous one.  However, so far, it is very rewarding.  Might I suggest you consider taking the journey as well?

Stay tuned.

Grasshopper to Ant / Financial | The Nameless Wayfarer

Tonight I am spending some time playing “catch up” so I can be practice being a bit more diligent with this.  At any rate, this is part of my attempts towards more awareness with my own financial situation, paying off my debts and building up some savings as soon as possible.

via Grasshopper to Ant / Financial | The Nameless Wayfarer.

This is a test of quickly “re-posting” material already covered previously.