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


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.

I have also been interviewed on Blog Talk Radio by Mr. Credit Card for an entire hour.

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. You can also email me ANYTIME at freedom [at] enemy of debt [dot] com.

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. Baby Emergency Fund – Do It Your Way!
  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. I have developed a few modifications to Dave’s snowball method to address special circumstances. The Debt Snowball – Do It Your 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. Fully Funded Emergency Fund – Do It Your Way!
  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.) Investing For Retirement – Do It Your Way!
  5. Baby Step 5 – Fund your kid’s college fund. (ESA-Educational Savings Account) Being A Student Without A Student Loan
  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 are now debt free! Becoming debt free was addicting, and at times it was easy to lose focus. In order to remain addicted to becoming/staying debt free, I created these 12 Steps which provided guidance along the way.


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

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