UnThreaded | Threaded | Whole Thread (62) | Ignore Thread Prev | Next
Author: AJermo One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309042  
Subject: Re: Saving vs. Paying credit card debt Date: 2/25/2013 12:10 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 2
I'm close to being out of debt and followed Dave Ramsey's program (google it),

1. save $1000 in CASH for emergencies (true emergency..not something is on sale emergency).
2. make a budget and assign every dollar a place to go.
3. all funds left over after necessities go to paying off debt.

4. pay off all debt except house before working towards 6 months bills.

If you don't watch your money and tightly budget then you probably waste a large amount in what I call nickle and dime leaks.

Look at his (Dave Ramsey) program for getting out of debt. I don't necessarily agree with his investing advice but his debt strategy has worked for me. I'm about 15 months (barring any major issues) from being out of debt except for my house.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (62) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Reconsidering IBM's Moat
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.