Sunday, April 11, 2010

Money, MOney, MONey, MONEy, MONEY

I don't read books much.  I have a reading problem, kind of like dyslexia, that makes it difficult for me to read off of paper.  As more & more things are now on the computer, I've found that I can read pretty easily on the computer.  I just use the mouse to track my place and it's a breeze.  I do my reading, for pleasure, by listening to books on tape.  I have been listening to Dave Ramsey's Total Money Makeover .   The book has strategies for getting out of debt and financially independent.  Mr Ramsey actually does the narration for his AudioBook.  I like the ones that are read by the authors best.  I've only seen Mr. Ramsey's T.V. show once or twice.  I remember thinking that he might need to be just a tad medicated :0)   His book narration is tame, in comparison.   If you've been reading this blog, you know I'm not practiced with money management.  To be honest, money freaks me out.  I'm not in a huge amount of debt, but I want to be debt free before I hit the road.  The biggest reason for my delay in hitting the road is wanting to be debt free and have 6 mos living expenses ahead before I make the big change.  In this book, he talks about getting "gazelle intense" when starting to pay off debt.  Selling EVERYTHING possible and getting an extra job if necessary.  He does the math to show how, a little extra here & there, quickly adds up.  Got me thinking, what could I do to get moving faster?  I don't need to pick up an extra job.  My job offers enough overtime, I could get some extra hours easily.  I don't have a fancy car to sell, but there are things I could make some money on.  These are things I won't be taking on the road anyway.   It's something to think about.  After listening to the book I logged on to check my credit card.  I just about vomited when I realized how much I'm paying the card company each month in interest.  Good thing I'm paying that off first.  What a scam they've got going there.  I just can't believe that's legal.  I've only got $10,000 credit card debt.  I can only imagine what people with these huge credit card balances are paying monthly.  If they only pay the minimum payment, they'll never make it out.  No wonder it's so hard for people to get out of debt. 

Hope all is well out there.  Take care of each other.  Thanks for stopping by. 


Merikay said...

$10,000 is a big amount! Is there any way you can just stop adding to it until it is paid off? How much of each month is interest? The only reason to charge anything would be for medical expenses! We possibly for vet bills, but don't let the doggies be an excuse.

Katie said...

It is a BIG amount. The only thing that adds to it, anymore, is some of my monthly bills like phone & cable internet. I've learned my lesson for sure. Before the last couple thousand I paid.. I think the interest charge was $150. Like I said. Blew my Mind!! Ramsey would be ashamed of me. Luckily, I'm getting it taken care of now. NO MORE

Judy and Emma said...

Stay the course! It will take time, but you can do it. Those interest charges are hard to get ahead of. :(