New To Enemy Of Debt?

First Of All, Welcome To EOD!

It is a very overwhelming feeling when you find yourself in a situation, and are not real sure where to start the process. Try not to worry because I happen to know that you will be all right. The very fact that you are here in search of a way to solve your financial problems means that you are already one step closer to a solution!

EOD In The Spotlight

I was contacted by Jim Cavanaugh from CNN.COM after he found my site. He told me he was doing an article on people who have given up on credit cards. He asked some questions, and I was quoted many times in the article. It was a very nice experience, and one of the things that made it even better was that Dave Ramsey was mentioned too. Me in the same article as Dave Ramsey?

Walking Away From Credit Cards – by Jim Cavanaugh

As Seen On Cnn.com – My follow up article to talk about my 5 minutes of exposure, and to expand on why I think using credit cards is not the best way to financial freedom.

What To Expect From Me Here At EOD

I am a very big fan of Dave Ramsey so you will hear a lot about (TMMO) The Total Money Makeover as well as his 13 week video workshop called (FPU) Financial Peace University. We are currently on a Total Money Makeover and I have been through FPU officially 3 times, which include leading and coordinating it at my church twice. I have seen each lesson so many times that I have lost count. We, being my wife and myself, have found FPU and the TMMO to be the key turning point for us financially. I have seen two sets of FPU classes benefit and make progress so I know you can too!

My Thoughts About Dave Ramsey: Some Bash Dave Ramsey, But Why

I am a believer in using Dave’s baby steps to work your way out of any financial situation that you find yourself in. The reason is because instead of focusing on a number of problems at once, you are directing your energy at one item at a time with complete intensity. This allowed us to not feel so overwhelmed, and gave us a clear picture of what it was that we needed to do. The whole purpose of this blog came from my passion and extreme desire to spread the debt free message to as many people as possible. Some think I am a little extreme and others know exactly what I am talking about. Please do not mistake my sometimes, in your face views, to be anything other than my desire to help people realize their potential. You will hear ideas and strategies that continue to help me grow financially, as well as in other areas of my life.

I hope you enjoy reading Enemy Of Debt, and please feel free to contact me if you ever have a question.

Here Are Dave Ramsey’s Baby Steps

1. Baby Step 1 – Save $1,000 for your baby emergency fund, as fast as you can. It sounds hard, but you can do it, and doing so will put a buffer between you and small emergencies so you can focus on debt elimination in the next step.
2. Baby Step 2 – Pay off your debt using the debt snowball method. This method says to list all off your debts, not including your house, from smallest to largest. You make minimum payments on all your debt, but take any extra money and throw it at the smallest until it is gone. Your minimum from that one, plus all extra money then goes to pay off the next on the list, until they are all gone. The snowball gets bigger and bigger as each debt is knocked off and you gain tremendous motivation a long the way.
3. Baby Step 3 – Save 3/6 months of expenses for your fully funded emergency fund. This is your large rainy day fund, and you will need it one day so make sure you have it before moving on.
4. Baby Step 4 – Invest 15% of your income for retirement. This will get your retirement portfolio started while you handle a few other things. (Roth IRA’s or any company offered retirement.)
5. Baby Step 5 – Fund your kid’s college fund. (ESA-Educational Savings Account)
6. Baby Step 6 – Pay off your home early and become completely debt free! This will allow you to build wealth and retire faster than you could ever imagine!
7. Baby Step 7 – Build wealth and give! Now your income has become a tool to building wealth, just remember to give like never before. Hording money isn’t the point of building wealth so keep that in mind. It takes the average family on a TMMO, 7 years to reach this baby step. What are you waiting for?

That’s the plan that is leading us to Financial Peace. We started in January 2008, with just over $25,000 in debt, and have only $3,130 left until we are debt free but the house. Becoming debt free is addicting, but at times it is easy to lose focus. In order to remain addicted to becoming/staying debt free, I created these 12 Steps which provide guidance along the way.

I am also working on a series called Keys To Effective Money Management. Please subscribe to receive updates on that series that is currently in progress.

Topics About Personal Finance That I Focus On

• Saving
• Budgeting
• Debt Elimination
• Personal Responsibility
• Relationships And Money
• Credit Cards
• Kids And Money
• Housing
• Motivation
• Behavior
• Extra Money
• What To Avoid

Articles To Get You Started:

Getting Started - 3 Proven Steps To Debt Freedom ~ MYTH-I Don’t Make Enough To Do A Total Money Makeover ~ Download My FREE Budget ~ 11 Keys To Building Wealth For Generations

Saving - My Payments Ate My Savings ~ Are You A Super Saver

Budgeting - 7 Tips To Make Your Budget Work ~ The Budget Puzzle ~ How To Give Yourself A Raise ~ The “B” Word

Debt Elimination – (My very first article EVER!) Hitting A Home Run And Becoming Debt Free Are The Same ~ If My Words Were Hands, They’d Be Slapping Some Sense Into You ~ A Sacrifice Is Not A Loss But A Gain

Personal Responsibility – Personal Responsibility Starts With You ~ Are You Waiting For Washington To Save The Day ~ If It Is To Be, It’s Up To Me ~ Dave Ramsey For President

Relationships And Money - Relationships That Count ~ Sometimes Money Isn’t The Cause Of Money Fights

Credit Cards - Are You Getting Bit By Snakes ~ A Destructive Mindset: Is This What You Believe Too ~ Got Credit Cards? Here’s Another Reason To Say Goodbye

Kids And Money – How Can We Love Our Children More ~ Teenagers And Decisions

Housing - Buying Vs. Renting What Should You Do ~ The American Dream Is As Only Good As Your Plan TO Achieve It

Motivation - YOU CAN DO IT ~ Financial Peace University And Me ~ Saving To Buy, Instead of Buying To Slave ~ What You Believe Is What You Achieve ~ Murphy’s Fall

Behavior - Are Your Priorities Backwards ~ What If You Were Recession Proof ~ Poverty To Prosperity ~ Monkey See, Monkey Don’t

Extra Money - Selling On Ebay Is As Easy As 1-2-3 ~ Ebay Update ~ When Are You Going To Have A Yard Sale

What To Avoid - To Be Bullied Or Not Be Bullied, That Is The Question ~ Just Say No To Debt CONsolidation ~ A Gentle Scream ~ Is It Really Easy Money ~ Bankruptcy: The Morning After Pill Of Personal Finance ~ Debt: A Financial Storm Cloud ~ Debt-ception: Why Do We Fall For The Lie