OK this week I will like to focus on debt as the theme for this post. I have been listening to Dave Ramsey on IHeartRadio and so far I have heard ridiculous stories of people overextending themselves and taking on way too much debt. He gives them a slap in the face type of advice with a southern accent to boot. Overall I enjoy the way he engages with the audience and basically solidifies how being debt free and following a plan will help you win in the money game.
Do you have a unique plan on how to get out of debt? If you have been out of debt for sometime now how hard or easy is it to stay debt free? People everyday call in on Dave Ramsey’s radio show and yell We are Debt Free. They share the amount they paid off and how many months it took them to become free.
Best Quotes:
-Never give up control by taking on unnecessary debt in your life- RichUncle EL
-Be mature to delay the satisfaction of giving when your life is not in financial order. – Dave Ramsey
-Debt buys things now but your conscience will pay it back with constant worries. – RichUncle EL
-You cannot spend your way out of recession or borrow your way out of debt. -Daniel Hannan
What do you take away from these quotes? I hope you understand what I am trying to convey with these debt motivated quotes today. Do Not Borrow! It leads you down a path of a thousand months while being hand cuffed to the banks will. Dave Ramsey stated in his quote for you to delay the satisfaction of giving during those special holidays when you yourself are in debt, it just doesn’t make sense.
Granted some debts take over 5 years to pay off like a car or student loans. So would you not give any gifts to your loved ones for all that time? Obviously that would be ludicrous, but as long as it is a manageable debt, you are current on it, have paid off a good amount in the last year, and have a set date when it will be paid off, then you can give minimally to those you care about. But if you have 12 credit cards, a car loan, and student loans then you should not be playing the role of Santa Claus this Christmas.
STAY OUT OF DEBT!
Well there you have it my friends. Any of these make your favorite quote list? Please share a quote in the comments below.
RichUncle EL
–
