Question for Dave Ramsey fans

I just signed hubby and I up for his financial peace university class that starts in January. We're not taking it to get out of debt since we don't have any credit cards, mortgage, car payment, etc. but we would like to learn more about budgeting and how to repair some negative marks on our credit from a few years ago.

I'm looking at buying one of his books to read before the class. Based on my info above, do any of you have a particular book you would recommend that I start with?

Anybody got any of his books that you want to sell?

Thanks!

 

I don't have any of Dave's books, hopefully someone else will.
As far as a budget, we made one up on Excel, it's easy breezy....
to do a budget you first need to know EXACTLY what you make, and EXACTLY what you spend. Dont forget little things like taxes on vehicles and vehicle repairs etc..

Good Luck, I'm sure his seminar will be good,

 

Dont have the books, but just know there is no quick way to repair your credit. You need to look at your debt ratio, and be sure you have closed most accounts that you are not using. You still need some accounts open just to give you a good score. Most late payments will go away after 3 years, some are 5. Monitor your score at least twice a year. I have a budget sheet I use with some friends to help them I would be glad to email it to you if you wanna take a look at it..

One more thing that will help, make an envelope with your name and dh's name on it, keep it with you and place every receipt you gather during the month in it, You will be amazed at where your money goes when you start looking at them at the end of the month>>

 

I have read both of his books. Total Money Makeover is more for getting out of debt. Finanicial Peace is probably more of what you are looking for. It is more on wealth building and what you need to do to get finanicially secure. I recommend both. I think that the Smithfield library has them. That is where I got Total Money Makeover.
Good Luck.

 

But then he would know about my McDonald's mocha addiction! :mrgreen:

 

LOL this is true. But trust me when I say its amazing when you see it laid out in front of you.. Its a lot different than looking at your check book register..

 

Dave Ramsey will not necessarily help with credit repair. He wants your fico score to be zero. He is against using any kind of credit at any time.

 

Why not borrow the Ramsey books from libraries

when you can. 332.024 - main location

 

Just FYI...we are taking the class currently. So far, very rewarding. As part of the kit you get when you attend, you will get the latest version of the Financial Peace book, along with all the other supplies to get you started on the road to "financial peace".

 

This is true, however, in one of the lessons, he does address this, and has tips on how to clear some of these items up properly.

 

see that has always been my problem with following the complete Dave Ramsey philosophy because unfortunately in the world we live in, if you do not have a decent FICO score, your hopes of buying a house, car, or anything of major value with a good interest rate is pretty much null without a decent score.

 

Right...but. If you work at it long enough, eventually you can get to the point of paying cash, for EVERYTHING, at which point, credit scores are meaningless.

Long process I'm sure.

 

Very.... long process for someone starting out and wanting to own a home, seriously, how long would it take a young couple to save up enough to pay cash for a house?

 

Why?

If you are out of debt, why would you want to go to a financial class or learn about budgets?
Let me be the first to tell you that you are doing just fine on your own. In fact, you should be teaching classes.

 

:iagree:

 

Because we would like to buy a house one day and our credit needs some repairs. Plus, we need to learn to save money and not spend it the minute we get it. Dave seems like a very smart guy but we'll NEVER have the cash money to pay for a house so we've got no choice but to improve our credit scores. Trust me, I am in no shape to teach anybody about money. :?

 

About 20 years, presuming they save the equivalent of a 30 year mortgage payment every month.

 

while at the same time paying rent & monthly bills at the same time, yeah i can see that happening real often

 

You asked. I answered. You did say "seriously", I thought you really wanted to know.

 

He usually keeps mortgage seperate from other debt. HE wants you out of debt other than mortgage, to save all you can, to pay cash for everything. Stop spending on the little things. $5 coffee, etc etc.