Thursday, September 13, 2012

Money is Always on Mind, Every Morning at Least-Thanks Dave Ramsey

I like many of you out there are a creature of habit.  Some must have that morning coffee, bowl of cereal, leave at exactly in between 7:00 and 7:05, or in my case I change my routine to create some sense of spontaneity, but it's still a habit.

Right now I have been going with the morning coffee, made at home(trying to save that $10 a week and I prefer to be all jacked up by the time I get to work) and Dave Ramsey podcast every morning on the train.  I like Dave Ramsey and my other options are listening to Pandora cut in and out like a bad DJ or staring outside(p.s. the buildings or walls don't change much).  So about Dave Ramsey..................

I like to listen to someone telling me to pay items with cash, stay away from credit cards, and that he has made mistakes but here is why you should not do what I did.  It creates a mindset that if you spend money with bad decisions, you are going to pay for those bad decisions.  He is a strong believer in debt makes you a slave to the lender, I couldn't agree more.  I struggle everyday to get in this mindset, this is another reason why I listen to Dave Ramsey every morning.

Here's what I want to do with my money.  Put tons of money in my 401K, pay off every cent of debt I have today, fix up my house, pay off the house, and invest in stocks, other houses, take tons of trips.  This morning dose of Dave Ramsey reminds me to keep things in check, Rome was not built in a day, cliche yes, but very true.

I have a budget, I have a plan.  I don't want a 30 year mortgage, I want my mortgage to be paid off in 7 years, is it possible, absolutely I ran the numbers to know.  I read something by Zac Bissonnette said and I'm summarizing here, but poor people think about how financial decisions affect them this month or this week and wealthy people think in 5, 10 and 20 year blocks.  That makes sense to me, when buying a car the poor guy is thinking can I afford the payment of $200 month, the wealthy guy is paying cash and thinking how much money per month he is saving over a 5 year period.

So in summary every day is a battle with money, but the key thing is I may lose a battle today and go buy my lunch or spend money on something I don't need, but I will win the war, with God's help and with great influences around me.  Right now my biggest influences on money are my wife(smart lady and cute to), her family(they have great advice that gets funneled through my wife),  and personal finance blogs, podcasts, and books.  Make sure to surround yourself with great influences, if your brother likes to drive his leased BMW on his Wal-Mart cashier hourly wage, you might want to find a better influence

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