I posted a month or two ago about my new found love of podcasts. Shockingly enough, this is a "kick" that I've actually kept up with and it has since manifested itself into a new kick that I plan on sticking to. Browsing around iTunes, I came across Dave Ramsey's podcast, which is a condensed episode of his daily 3-hour radio show. I'd heard my sister talk about him a few years ago, but I brushed it off as a load of bologna and went on my way. But, after entertaining myself in the car with the 45 minute podcasts everyday, I'm hooked on Dave's common sense approach to money and debt!
Premise = spend less than you make and don't go into debt. Crazy idea right? I'm telling you, LISTEN to his show, just once or twice. It's valuable in a few ways...
1. People call him with CRAZY situations asking for advice, and it makes you feel better about yourself and the fact that you haven't gotten yourself into $50,000 of credit card debt or have a $1000 car payment every month.
2. He's entertaining in his bluntness and has been through bankruptcy so he's not just up on his soapbox looking down on the peons.
3. The Total Money Makeover plan has "baby steps" so you can accomplish one thing at a time and REALLY see the change as its happening... see yourself saving money, paying off your debt, putting money away for retirement, etc.
4. People call into his show to celebrate the fact that they're debt free. It's incredibly motivating.
In the first month after beginning my Total Money Makeover, I saved $650 in my emergency fund. $650! Before that, I was living paycheck to paycheck with no idea where my money was going... Why do you need an emergency fund you say? Well, let's see, my car got broken into last month which meant a new car window, then not two weeks later I got a rogue piece of metal stuck in my tire and had to get a brand new tire (not cheap!), and let's not forget my car craziness of 3 years ago which meant a new windshield...
I swear I'm not being paid for this endorsement despite the fact that my HUGE number of readers would serve as a great place to advertise, but I'm obviously excited and I feel much more in control of my finances and it's worth being frugal now. See how excited I am?
(Note: After reading this, it's doubtful that anyone will ever ride in my car again!)