Posted by: Brookhaven | June 27, 2008

Financial Peace

Today I picked up Financial Peace Revisited from the library. I stumbled across Dave Ramsey’s show about a week or so ago and he has been the inspiration I needed to get this journey started. On his show he has talked about baby steps and snowballing and other things that got me interested in learning more about him and his ideas so I decided to checkout a few of his books and see what I can learn. His positive attitude and what seem like simple proven ideas are just what I need.

In my past attempts at eliminating debt I have read many books by Mary Hunt and Suze Orman , among others, and I liked many of their ideas. I just didn’t have the discipline to follow through with everything. I like what I have learned from Dave so far, I’m about half way through the book at this point. I think I will ultimately use a combination of ideas from several places to create my debt elimination plan.

In a previous post I talked about Fear being my biggest problem in confronting my situation. Later that evening I was watching the Dave Ramsey show and he said something to the effect that any financial decision made in fear will yield poor results. What timeliness! Since I have made the commitment to eliminating debt and have started making a plan to achieve my goal I have felt less fearful about my situation. I have gained a bit of confidence and am seeing that there is light at the end of the tunnel. Of course the tunnel is really, really long and awfully dark still.

I will post a summary of my thoughts on the book as soon as I finish it. I am also looking forward to reading The Total Money Makeover as soon as it becomes available at the library. I am number 70 in line though so it seems that many other people are in the same boat I am and desperately looking for a way out.

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Responses

  1. Hi there – best of with your journey out of the dark. In September I was where you are now – at the end of my rope with very little hope. With Dave Ramsey’s plan I’ve paid off more than $10,000 in about 10 months!! I still have a long way to go but I have hope now! I’ve read stuff by Orman and many others and Dave’s plan is the only thing that got my attention and helped me set up and stick to a plan.

    I’ve read both Financial Peace Revisited and The Total Money Makeover, and they are really pretty similar. FP-Revisited is the book used in Dave’s Financial Peace University (which I’ve also taken) and is a great place to start.

    I started by using the budgeting software at his “TheTotalMoneyMakeover.com” website – if you sign up for a year you get a copy of a book and the envelope system or a few different things to help you along the way. Highly recommended! The site also has the added advantage of having the forums – some of the folks on there are HARD CORE but they really were helpful and inspiring and I learned a ton as well!

    Best of luck to you! (I’m at http://www.rathnait.net/blog if you want to swing by my blog – not a frugal-living or PF blog exclusively, but I do write about money quite often. 🙂 )


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