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Baby Steps: No More Debt

December 12th, 2008 Leave a comment Go to comments

When we started Dave Ramsey, I think we were ready for not creating any more debt.  Even though we did not have a tremendous amount (we had demonstrated pretty well that we couldn’t handle it, so we weren’t offered much credit,) we were at the point where we realized that debt wasn’t bringing happiness, it was only making us miserable worrying about paying it.

There was nothing out there we had to have.  We had a van for transportation, and it ran most of the time.  We had shelter, even if the roof on the back leaks, and we were all healthy.  Even though I really wanted a new computer, the current one worked fine.  I probably could have justified buying a new one seeing as I used it for my work at home job, but I didn’t.  My wife’s laptop (which we financed — and are still paying for!) is broken (and still not paid for!) and she would really like a new one, but it isn’t critical to our livelihood; she can use mine or one of the kids.

It wasn’t always this way, and I think growing older helps.  At twenty, if someone had offered to finance a new computer for me , I would have taken it without a second thought.  I was one of those guys that got a credit card my freshman year in college and promptly filled it up buying Christmas presents for everyone, even though my part-time job barely covered my car payment, insurance, and gas.  Why live without what I want today, if I can pay for it tomorrow (and the next day, and the next day, and the next…)

The company I work for was also acquired by another, bigger company around this time, and I think the reality that being laid off was a possibility sank in.  We had nothing to live on if I lost my job.

So a definite, visible, change in behavior was called for, and quick.

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