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Great News!

Great news everyone! Lily's List was so impressed with this blog that they have invited me to be a Co-author on their Lily's List Blog page! How exciting is that! Glad to see someone who recognizes talent when they see it! LOL! I'm joking! So now I'm moving my blog to their blog at http://lilyslist.com/blog/. Please follow me there....There is ample room to comment there as well so I invite any opinions or comments! Thanks guys! See you over there! 

I can't promise to fix all your problems but i can promise you won't have to face them ALONE!

Let's talk about debt....and how to get out of it!

So I've talked about Dave Ramsey before and these are his 7 baby steps...if you want to learn a little more about him you can go to his website at www.daveramsey.com

My husband and I started Dave Ramsey's program about 3 years ago and in that time have paid off $20,000 in debt so far. If you follow his principles they WILL work...so here they are

Baby step #1: Save $1000 for an Emergency Fund only AFTER you get current on any past due bills. Dave says it's not a matter of 'if' but a matter of "when" something will go wrong. For my husband and I this is very true especially when it comes to our cars!

Baby step #2: Pay off all debt using the debt snowball. > So the basic principle here is start with the lowest amount and pay it off right away....don't get worried about interest rates. Then use the money that you would have used to pay toward that debt and use it to pay toward the next debt.

Baby step #3: Save 3-6 months expenses.....This is your ultimate safety net emergency fund for if someone is unable to work etc

Baby step#4: Invest 15% of income into Roth IRA's and pre-tax retirement

Baby step#5: College funding for children

Baby step #6: Pay off home early

Baby step # 7: Build wealth and GIVE!

Let me just give you some insight into my situation....I was actually doing really well with this program until I got laid off from my job. Luckily the demand for therapists is good down here in DFW and was able to find another job but it took a bit to catch back up! We are actually still working on paying off 6 more past due bills before we can start over with our emergency fund.....problem is, there will still be emergencies so you want to try to put a "buffer" in your budget! Like Dave says you have to TELL YOUR MONEY WHERE TO GO...instead of wondering where it went.

Like I've said before, no one said it would be easy....but at least you will have a plan and a sense of resolve to get started! A lot of churches offer Dave's Financial Peace University for a fraction of the cost to buy it online. You can also use the various tools on Daves website to start budgeting etc and get some great advice!

We all have to start somewhere and as my Lily's List advertising has been put on hold for a minute while I get my work/home life back in order I thought I should at least be putting some good vibes and good advise out there! I hope this helps and feel free to leave any comments or questions. I've been through the Financial Peace University and would be happy to go through the steps with anyone interested....Just let me know!

"If your actiongs inspire others to DREAM more, LEARN more, DO more, and BECOME more, you are a leader." John Quincy Adams