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Saturday, January 22, 2011

We're Fully Funded!!!

If you've been reading my blog for a while now, you will know that Doug and I are huge Dave Ramsey fans.  We've been following his money advice for several years now.  We've been debt free (except the house) for a couple years and have been working hard to get our emergency fund completed.  This is step 3 of his Seven Baby Steps to financial peace.

Well, I'm happy to report that we did it!  We now have 6 months of expenses in a savings account!  


I don't think we've ever had that much money saved up.  EVER!

So what better way to celebrate this momentous occasion than with a giveaway!  I'd like to bless one of my readers with a $50 gift certificate to Dave Ramsey's store.


Whether you really need help financially or you are doing well and would like to do better, Dave Ramsey can help.  Of course, it is up to you to do the work, but he offers you the advice and steps necessary to achieve financial peace.

This $50 can be put toward a Financial Peace University course, which Doug and I took last year, some of his best-selling bookssoftware, DVDs, or downloads, or something for the kids in your life.

When I look back at what life was like 5-10 years ago ... hating to get the mail because of all the bills, trying to get ahead by consolidating all our credit card debt to one card (believing this would actually help), drowning in debt with what appeared to be no way out ... Dave Ramsey's tough advice was just what we needed.

We didn't always like his advice.  Change is hard.  Sometimes it is easier to stay miserable.  And broke.  But once we got on track, our moods improved, our marriage improved, our communication improved.  I no longer dreaded sitting down to write out bills anymore.  Doug and I could talk about money without a fight.  We could talk about our hopes and dreams for our future.  A future without a bunch of debt hanging over our heads.

And we could teach our kids the right way to handle money.  Something neither of us were really taught.  At least, I know I wasn't.

We still do a monthly budget.  Now we're nowhere near perfect.  Sometimes we still miss the mark.  But we are always trying.  Working together for a common goal.

This month we are refinancing our mortgage ... going from a 30-year fixed to a 15-year fixed. Our monthly payments will go up about $100 but we will save about $44,000 in interest over the life of the loan.  And if things work out the way we plan, we will actually pay the loan off in 10 years. Or less.  This is part of the next 3 baby steps, which according to Dave, we should work on simultaneously ... 15% toward retirement, kids' college funds, and pay off the house early.

We still need to work out the details about the retirement and college funds.  Doug puts plenty into his 401K, but with me being a stay at home mom, I have no income.  So I'll have to read up on what we are to do about my retirement fund.

Anyway, back to the giveaway.  In order to enter, head over to Dave Ramsey's store to see all the great tools he has to offer, then come back here and in your comment, tell me what you would get with the $50.  Only one entry per person please.  The last day to enter is Friday, January 28.  I will draw a winner on Saturday, January 29.  Probably in the afternoon ... after Alex's soccer game.

Please remember that this giveaway is for my readers.  I'm not trying to get followers (although I do appreciate each and every one of you!) and I don't want a bunch of freebie junkies participating.  (Yeah, I got a bad taste in my mouth after the last giveaway went awry.)  :)  I truly want to "pay it forward" ... bless someone else since we have been so blessed.

And if you need suggestions on what to buy ... here are my recommendations:
Financial Peace University - regular or home study
The Total Money Makeover book and/or workbook
Financial Peace Revisited book and/or planner
Financial Peace Jr. for kids age 3-12 (I'm going to get this myself!)

Thanks and good luck!


The Clip Cafe said...

haha 50th follower for a $50 giveaway how funny! Oh anyhow just popped over from your photography blog. This would be really good for us right now we sound like we are where you were a few years back and so need to get out of a hole. I have heard of Dave Ramsey but never looked too much into him and his advice. I think we will though :-)

Laura said...

Yeah!!! Woo hoo!! Feels great to have the fully funded doesn't it!??

I would love to win that giftcard.... especially seeing as I recently made that decision to get back on track this year and really get my savings up so we can buy a house.

We already did Financial Peace. Read Total Money Makeover. Bought FP Jr but haven't started it with the kids yet. Hopefully soon I'll get to look that over and get going with it.

I think if I won I would get the online membership. Kind of been wanting to do that.

Sheri said...

I admit, I'm not a huge fan of Dave. We have his book, think he has some very sound advice, but also some that it too far out there. I suppose it's one of those things where you have to let go of things that bother you...right?

Heidi said...

It's great that you met your goals! I would get the bundle starter pack.

kathryn said...

Wow! I hope Dave Ramsey recognizes you for being such a success story for his amazing advice, sweetie.

I think it's amazing that you've accomplished so much...I really do. Every weekend I get hooked on CNBC and all the shows about money...and I realize I've got a long way to go.

I'd probably order the CD that downloads a budget for the computer, plus I'd take anything that I could listen to in the car! I'm so behind on my reading but I've got all that time on my commute to listen!

Jill - FNA Photography said...

CONGRATS! that is awesome! you should both be so proud of doing this together! what a great way to be faithful servants with what He has given you!

thanks for visiting my photo blog and letting me know about your give-away. please don't enter me we are good in this area - PRAISE GOD!

blessings to all who enter and may God truly pick the couple or person who this will bless the most!

gmontalvo13 said...

that is awesome! congrats!

i would buy the starter package!

The Proverbs Wife said...

Hi there...I found your blog while searching for some Dave Ramsey gift card images.

My husband and I paid off all of our consumer debt in 2010 and are not working on fully funding our Emergency Fund. This will be done in a few weeks. It feels so good to not have debt hanging over our heads.

I used to listen to all the Dave Ramsey success stories and feel like I'd never get there but God has used Dave's methods to take us on a journey and I'm so glad that I stuck with it.

I'd love to win the Dave Ramsey gift card. I'd buy a new Dave Ramsey wallet/envelope system (mine is falling apart). I'd also get the Dave Ramsey Jr. kit for the kids.

Thanks for hosting such a great giveaway.

zippitypow said...

We've been working on the debt snowball for quite awhile, it feels so good to do. I've had to convince my husband many times over, but the amount we've saved in interest alone on our student loans is phenomenal. Our car is next.