Dave Ramsey-Cash only system

[Mike]

Hm. I guess I should be glad I grew up poor. Being able to afford food & shelter still feels like a bit of a luxury. :wink1:

A lot of times it's just about learning that money doesn't buy happiness and that the people who love you will still do so even if you don't have designer clothes and gadgets. Not saying any of you need to learn that; just sharing what I've found out over the years.

I guess I'm one of the few that really thinks money can buy happiness.

[centexchick]

Hm. I guess I should be glad I grew up poor. Being able to afford food & shelter still feels like a bit of a luxury. :wink1:

A lot of times it's just about learning that money doesn't buy happiness and that the people who love you will still do so even if you don't have designer clothes and gadgets. Not saying any of you need to learn that; just sharing what I've found out over the years.

nah, it isn't the whole money can buy happiness thing...That only lasts for a little while after the purchase. I grew up where we had to make a pot of beans and a tube (yes, I said tube) of hamburger last a week. It sucked royally. I just hate dealing with all the bs that goes with figuring out where, how much and when. If you give me a date, I can do the payment thing, but otherwise...ugh.

[MandyZ]

nah, it isn't the whole money can buy happiness thing...That only lasts for a little while after the purchase. I grew up where we had to make a pot of beans and a tube (yes, I said tube) of hamburger last a week. It sucked royally. I just hate dealing with all the bs that goes with figuring out where, how much and when. If you give me a date, I can do the payment thing, but otherwise...ugh.

Another thing that helps is setting up everything for auto-pay/auto-transfer. You do need to know about how much you have after all that though...hm. I just try to live so far below my means on a regular basis that I hardly ever come up short. For each pay increase I've had, I remember "just because you make more, doesn't mean you have to spend more." Sorry for the vague advice. lol.

[Nash B.]

Hm. I guess I should be glad I grew up poor. Being able to afford food & shelter still feels like a bit of a luxury. :wink1:

A lot of times it's just about learning that money doesn't buy happiness and that the people who love you will still do so even if you don't have designer clothes and gadgets. Not saying any of you need to learn that; just sharing what I've found out over the years.

Money can't buy happiness, but you can rent it for a little while.

[SEB]

I have been living by his book for going on right about 4 years now! My mom bought it for me & pretty much in his words.

YOU HAVE TO LIVE LIKE NO OTHER TO LIVE LIKE NO OTHER!

Which means. You have to live like shit. To have shit! Yeah it sucks driving a 94 GMC & living in my 5th Wheel RV.

But everything I have I OWN!

OWN my 2000 Trans Am CHECK
OWN my Land my RV is on CHECK
OWN my 2000 GTP CHECK
OWN my 1995 32ft Hithchiker II BACHLOR PAD RV CHECK BABY
OWN my 1988 IROC Camaro CHECK
OWN my 1994 GMC Pickup CHECK
OWN my 1993 JEEP CHECK

I dont work right now that much cause its winter! But living by Dave Ramsey CASH ONLY SYSTEM has allowed me to Work for myself & start my own business, Which to be honest I have some crap equipment. But my equipment is getting better every season. Im saving up right now for a 61inch Zero Turn Mower to start doing the big yards. But my quality of life has improved by leaps & bounds since I started living this way

Of course my grandmother always told me to pay for everything in cash. She used to say to me. Sebastian if you dont have the cash for it. You dont need it that bad then & if you really do need it. You would find a way to make the money to buy it! She said the secret to life is paying in cash for everything.

Well im proud to say where I live & what I drive. I OWN!

[OldGuysRule]

His views on debt are moronic... I think he is pretty damn full of himself to believe that his "style" is one size fits all.

Meh, I think if you ask the majority of multi-millionaires who didn't luck out into money (i.e. the average started with nothing now have millions) they'll tell you the biggest key to their "success" was staying out of or minimizing debt.

For most of us building wealth takes years upon years of saving and investing. When you go into debt you are allowing someone else to make their money off of you.

Having said that I still have a mortgage at 4.5% and most likely won't be paying that off anytime soon as I can certainly make more with the money elsewhere on that tidy sum of money.

Dave Ramsey just took the concept and expanded it to the lower IQ population with techniques everyone can understand.

I have an envelope system but it is tucked away in my head. For household expenses I know within a reasonable 100-200 dollars what has been spent each month. I also get a text alert on my phone every time my wife spends money on the debit card so she doesn't go too crazy.

I have one credit card that is used for business and that is all. I have a checking account and savings account for "goodies." Instead of whipping out the credit card I use this account and I pay it back like it is a credit card. The Bank of the OldGuysRule dude. The account has a "reverse credit limit" meaning once the balance falls below a certain amount it must be paid back until it gets to the "reverse credit limit"... with interest.

Anyone in the house, including my daughters, can use that account. It is up to the person using it to pay it back. Daddy is worse than a debt collector.

[Snatch Napkin]

I've been doing this for a couple years now.

My only con was purchasing things online. However, I just use my company CC for that and immediately write a check to my company for the same amount.

I keep a safe at work to hold onto the larger portion of my weekly cash. This keeps me from walking around with a chunk of cash on me.

I spend waaaayyy less money this way and wind up with a surplus of cash in the safe while my checking account just keeps growing.

Muff said he can be there in 20

On it!!!

[centexchick]

On it!!!

More like 4 hours...but come on...

[Frank]

I always carry my flash-role of about 5 grand or so, along with a pearl handled Taurus pistol and a pager.

Dave Ramsey told me to do it.

But how do you ever get either of them out of your jeans with all that starch?

[Nash B.]

Man purse.

[Mike]

Man purse.

It's a satchel, Indiana Jones has one.

[David]

I'm glad I'm debt free, minus the typical monthly bills. You guys are confusing the shit out of me. Lol

[Baba Ganoush]

Im not a big fan of the debit card, but it is convienent nowadays. I use cash only on regular purchases or perishable goods, like gas and food. I'll never understand people that charge a dinner and pay intrest on food they ate last month, or gas they already burned. I like to budget these items because I can always eat pbj's or drive less when the cash flow is low. Irregular expenses usually get charged. I don't mind taking a hit on intrest for parts or entertainment items. That's my system for the past ten years. I have written less than 20 checks since 2007, all bills are paid online. I have two savings accounts, and I check the balance on one every 3-4 months just so see my saving progress and to feel good about blowing $50 on whatever.

[Lason]

I did the whole snowball thing........

You guys are so slow, QOTD!!!

[mr tinfoil hat]

Being debt free is a great feeling. Never having to here a bank say you can only take this much money out a day is another great thing. I own everything I have and owe no one. No bank account and no credit cards. IMO it's the only way to live.