Town Hall For Hope!! (for 2 weeks only)

[Mahnarch]

Dave Ramsey's "Town Hall For Hope" is on Hulu for the next two weeks - for free!!


Watch it.
It is 90 minutes.
It's funny.
It'll change your financial family tree.


Town Hall For Hope

[Phil]

More people need good financial planning. So far too many people think you should spend a whole paycheck, have nothing to show for it and that a credit card is a free source of money.

[Mahnarch]

My biggest monthly deficit was my wife. She was of the notion that credit cards were free money, too.

I got rid of her, my bank account doubled in a month!! And, I'm now living 2 whole paychecks ahead. It's great!
But, I still have $34,000 in credit card debt that she rang up (some of which is on 5 cards she took out in my name without my knowledge...)

$34k is down from the original $40k she did up.
If I hadn't found Dave a year ago, I'd still be at $40k and rising - due to interest and fees.

It's working for me. Dave's plan can work for everybody.

[Kimm]

Im bad with money. I wish I wasnt but I am.

[Mahnarch]

Kimm: All it takes is a small change in your attitude toward debt and wealth building.

If you can look at debt as if it's something to be ashamed of, or something that disgusts you and you start paying them off - BAAM! You'll be gazelle intent!

You'll pay off the first one and you'll go, "Yes!"
You'll pay off the second one and you'll go, "I'm getting traction!"
And every one that you pay off you'll feel more revved up and feel the power that is your wealth.

Imagine what you could do with the money that you're NOT sending the bank in the form of payments each month!



......great. Now I've gotten myself into a frenzy and I can't wait for my next bill to arrive so I can pay double payments.... ;D

[Phil]

One of the things people need to realize is if you have a credit card that has an allotment of 10.000 that does not mean you have 10 grand to do what you want with. It's an emergency bailout fund and hopefully you don't need all of it.

But if a treebranch falls through a side of your wall during a storm and the insurance company wont pay, or they might pay but there's a processing period meanwhile it has to be fixed, and or you have unecpected car trouble.

You figure you're going to spend 1500 in Christmas shopping so you're going to pay it off in 150 a month but you do it diligently you will be fine.

If you say 'I want that' and buy it. Guess what, you have to PAY IT BACK eventually. If you're of that mindset you're going to be miserable for years paying for furniture or vacations that you bought years ago.

[Beangirl]

I had way too much credit debt. I knew it wasn't free . It just added up so quickly and I lost my handle on it. My family helped me bail out and I got rid of my Business. I am now very careful but I still worry. I have no cards at all now.

[Phil]

I think you need to have some as an emergency. But I can understand where you're coming form too. Getting rid of a source of some past problems is also understandable.

[fartinggurl]

I only have one credit card, and it has a pre-set limit on it so I don't go in over my head with spending. Besides, I only use the credit card to pay for gas. Most of the time I prefer to pay with cash. It's funny, when I pay for anything with my debit card, I see it as money flying out the window getting spent on something I don't need.

Since I still live with my parents, I save money as much as possible. Someday I would love to travel to London, and it would be a great feeling to me to say that I paid for the whole trip with money I saved.

[Mahnarch]

I think you need to have some as an emergency.

That's what your "Emergency Fund" is for, man.


You start off with a $1,000 in a savings account.

This gives you a cushion (for that danged water heater that goes out in the middle of winter).

Then, you pay off your debts; smallest to largest (cutting up your credit cards beforehand)..[ALL OF THEM!!!].
You don't want MasterCard sitting with you at Thanksgiving dinner!

Then, you build up your emergency fund for 3 to 6 months worth of expenses.
On average $15-$20,000.

That way, if you lose your job. Or have any other "emergencies" those "emergencies" become less of an "OH MY GOD!!!!", and become more of a, "My...wasn't that inconvenient?". {yawn}.

Then, you attack your mortgage like a lion on a gazelle.

Get that mortgage out of your extra bedroom and think about what you could do with all that extra cash!



Credit Cards.
"Cash Advance" places.

Those are for losers!
You'll be a millionare! And, guess what you can do as a millionare?

....anything you want!