It's hard to prepare for eventual survival (or prepping) when you can't afford a bag of rice or bankruptcy is just over the horizon.
So, I made it easy on myself and pointed him in the direction of Dave Ramsey. The young man is married, has three young children, and has just made a purchase of a large piece of property in a fifty-fifty partnership (I might add against my advice.) with another family friend. He and his wife are now deeply in debt. His prospects for membership are grim indeed.
Yesterday he emailed and asked if I had a book recommendation. I suggested The Total Money Makeover.
Perhaps you too could use a nudge. It works.
By the way, I've embedded a mortgage calculator on my sidebar. Hopefully it'll help you take that first baby step.
Stephen
If you will live like no one else, you'll be able to live like nobody else.
ReplyDeleteDave's simple message took us a long time to learn. Got us on the right track.
Exactly. See, I knew there was a reason I liked you.
DeleteGood advice. Debt is going to be a real killer before all this is over. Debt is the main motivator that keeps the thug enforcers soulless.
ReplyDeleteAvoid it at all costs.
PP, yes indeed. One might as well put a choke collar around one's neck.
DeleteWe've been on a cash economy since '96; if we can't afford something, we save until we can - or make do without it. No credit cards, no mortgage, no debt. Debt was dangerous before, but it's a killer now.
ReplyDeleteAnd it gets tougher every day. Thanks, my friend.
DeleteJust curious--why do you not accept the unmarried? If you had a surgeon, single man or woman still in debt from the education, you would reject that person if not married or in/was the military?
ReplyDeleteWe're just weird that way, Linda.
DeleteStephen,
DeleteI don't think your rules are weird at all. I was just trying to understand what was the purpose. I have my own rules for my life, maybe weird, and who I associate with. You would even be surprised at what I think.
Practical Parsimony
It's awfully hard on the younger people today to stay out of debt. Working two part time jobs just doesn't cut the mustard. My wife and I have been helping our kids so they wouldn't accrue debt, but I swear I don't see how the twenty somethings can live if they aren't getting financial support from somewhere.
ReplyDeleteSacrifice. Step by step...I feel for 'em too. Thanks, my friend.
DeleteWe have never had any debt since we have been married, 27 years. We tried to buy a house twice and it never worked out. When the bottom fell out in 2007, we where very happy we didn't. We all always pay cash. Every car we have purchased was paid in cash. Never new only used. Sometimes I wish we had a home just so we could say its ours. No credit cards have had any except when I was single.
ReplyDeleteRob, I believe you've set a record for never ever having had debt. I've fought my was back twice in my life to the 'debt free' status. It wasn't easy. Good for you, and thanks.
DeleteStephen - debt-free is the way to be. you might not have all of the latest and greatest, and you might be living in a piece-of-crap cottage on an island that no one has ever heard of, and you might be trying to grow and preserve as much food as you can...with EPIC fails...but debt-free, in today's society is the way to go. and i totally get the married/prior military service thing. excellent post, dear sweet one!
ReplyDeleteyour friend,
kymber
Thanks, my lovely friend. There are indeed reasons for rules. And, i agree on the debt...
DeleteI have recently picked up a part time job and worked out a budget that provided push doesn't come to shove too fast I'll be debt free by 2020. I doubt I'll have the time but ehh I am trying. The reason, big reason, I am in debt is the mortgage. I have a mortgage cause my dad decided to pick a fight with me over being divorced (when you know what is allowed for prisoner interrogation by the Geneva convention first hand being divorced is a vaild choice, dad is still in denial) .... Anywho dad threw me out of their house I was renting from them. It worked for me and helped them out. So instead of going back to renting I chose to buy.
ReplyDeleteSorry if that's too much info, but its my reality.
I'm so sorry to hear of your family troubles. We have them, problems with our families...I suppose it's the Good Lords way of testing our mettle. Stay the course on your debt reduction program...when you win (and you will) life will be peaceful and secure.
DeleteMy only debt other than utilities, is $300 on a store card. I own car and house. Even when I was married, we never had credit card debt and bought five houses as we moved about. We usually had two cars paid for and drove them forever. However, we did have a car payment for almost half the years we were married. There was never a reason to go into debt. We paid for children's dance lessons, tennis lessons, theatre study, ball team fees, school fees, etc., all in cash. We just did not buy what we could not afford. Since my divorce, I have never gone into debt for anything but a car, and drove them for years after they were paid for. Some of my friends think I am boring, but they own nothing because they are too busy buying and having fun. PRIORITIES!
ReplyDeletePractical Parsimony
You've hit the nail on the head, Linda...wants and needs. Most have wants and with a pocket full of credit cards it's easy to fulfill those silly desires. Thanks, my sweet friend.
DeleteDave has a homeschool course for teens that counts as a high school credit. I plan to get it for my kids. It's a little spendy, but priceless if it helps drive home the message about debt free living to them. I wish I had his course when I was younger!
ReplyDeleteMe too...I only had my very thrifty penny pinching grandfather to teach me all things money. Thanks, my lovely friend.
ReplyDeleteWe've been debt free since 2007. I wouldn't want to be any other way, at this point. We're cash-flowing my other half's accounting degree, and will pay cash for private school for my imp. We paid cash for the car, and will not consider moving until we can pay most of the price in cash for a new place.
ReplyDeleteSee, I knew you were a smart lady....cash rules. Thanks, Sweet Lady.
DeleteI'm downgrading our cell phones, getting rid of cable, and always pay extra on our house. I can't wait until our house is paid off, which should be in the next four years, half the time of our loan. All on one blue collar income ☺
ReplyDeleteGood for you, Kelly...find a used copy of the book. It'll give you some great tips. Thanks, my lovely friend.
Delete