Stage one is almost complete of my five year plan to get rid of my six figures of debt. As you have read before, stage one for me was to work out repayment plans with my creditors for my credit cards.
I have signed up with Chase and Bank of America for their Balance Liquidation Programs or BLP as they are called. I have set up all of my accounts with Bank of America under this program and have one more to go with Chase, which I will probably set up this week with them.
I am now moving on to stage two of my debt repayment plan and I have gained interest in Dave Ramsey. The last time had six figures of debt I had followed Suze Orman's plan, which worked perfectly for me. I still love Suze, but thought I would take a look at what Dave has to say about debt this time around. Knowledge is power!
A couple of my friends who have also been hurt by our current economic crisis have begun taking Mr. Ramsey's 13 week course 'Financial Peace University'. They have really enjoyed it so far and have suggested that I sit in for the class. I haven't yet, but it is definitely on my calendar.
They had purchased a kit for the Financial Peace University to start class, which they bought for about $100. I heard that the set sells for as much as $200.
While at Sam's club today I came across Dave's 'The Total Money Makeover' starter set and picked it up. It was fairly cheap for $33.66 for the entire set. The set included the following:
The Total Money Makeover, Revised 3rd Edition, Dave provides a step-by-step process for saving money, getting out of debt, creating a personal budget, and investing for long-term wealth.
The Total Money Makeover Workbook, Dave gives solid, hard-hitting advice and the "hope" and the "how-to" needed to turn goals into reality
Financial Peace Personal Finance Software, is an easy-to-use tool to help you take control of your money and direct your finances.
Cash Flow Planning DVD, Dave shows you how to lay out a plan for your money, live on less than you make, pay your bills, save money, and still have some cash left for fun. This is also the 3rd lesson plan for the Financial Peace University.
Dumping Debt DVD, From car loans to mortgages to borrowing money from a plan 4 from The Financial Peace University.
For $33.66 I think this will fit into your budget. So head over to Sam's club and get yourself set. I can't wait to get into mine.
We Also Suggest:
- Bank of America's Balance Liquidation Program (BLP) Still Sucks
- What's the Best Way to Pay off My Credit Card Debt If I Have a High FICO Credit Score ?
- How did This Economic Crisis Start?
- Should I Use My 401K to Pay Off My Mortgage?
- Should I Take Out a 401K Loan to Pay Off My Credit Cards?
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2 comments:
I've read Ramsey's book and watched his TV show. He has some good advice, but hidden in some of his advice is BS. Be sure to think through what he says, don't take anything he says at face value. I do believe his book and tools will help you, but pick what works for you and throw out the rest. Good luck to you on your journey!
Thanks for sharing your knowledge. I have heard Dave Ramsey being criticized for his offering of overly simplistic solutions to financial issues. So far I do think in a way he is a lot like Suze Orman. I have begun initiating Dave's baby steps and will definitley keep my progress updated on my blog. Thanks for reading and folowing my journey.
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