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Gotta give it to Corner of joy..


ladyaudley

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...paying off $86k in three years is no mean feat!

Amy and her husband (of the call your husband if you spend more than $20 a month on items for yourself system) have managed to pay off 86k in debt in three years and are now debt free. I think they are the first Christians following the Financial Freedom seminar that I've come across who took it to mean "actually get your shit together" rather than "carry on as you are and pray, it'll be fine".

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Yes, I'll give her that, good for her. I'm interested in the next phase, how do they plan on buying a house without taking out a mortgage? Any FJ'ers know the specifics of the Financial Freedom Seminar (what exactly do they instruct one to do)? How much do they charge for the seminar, and is it anything that a person with average or greater intellect would have to pay to figure out, as opposed to common sense? Amy did go to college so I assume isn't totally "clueless" when it comes to reducing/eliminating debt (not that one actually needs to go to college to have a clue, but just saying).

On the other hand since I'm on the topic of Amy Joy, her "pregnancy fever" drives me nuts, she just had a baby and many of her posts after giving birth already mention "if God blesses me with more." Can't she just truly enjoy/focus on the current blessing before thinking/hoping/praying for more??

Also, her pre-pregnancy post about the Lord "teaching" her (or some such thing) to be gracious in accepting gifts from others drove me nuts. Of course family/friends are usually always happy and thrilled with the first born you'll probably receive a lot of gifts, if you truly feel "bad" about getting all of them, donate some of them to someone else who is in need of them. In her pre-pregnancy posts she seemed so conflicted because she was clearly excited about getting all the baby gifts, but I guess as a Christian you shouldn't be?

Well anyway rant over.

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Any FJ'ers know the specifics of the Financial Freedom Seminar (what exactly do they instruct one to do)? How much do they charge for the seminar, and is it anything that a person with average or greater intellect would have to pay to figure out, as opposed to common sense?
really doubt it :lol: an acquaintance attended the Dave Ramsey seminar through her church, and it wasn't more than could be learned from financial advice books for free from the library. It was a months long weekly thing, though. Some people seem to attend those things to gain status in their church or to have something to talk about. I guess in some ways it could be useful to attend as a couple, to get on the same page. But it was pricey. Really a middle class "how to manage privilege" course imho. Not sure how it compares to the IBLP course.

Suze Orman makes finances super clear for free on PBS and from the library. (even simplifying the investing side of things) But she's a woman and just came out recently so double reasons on why they'd never listen to her wisdom. :roll:

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Good for her for getting out of debt, but pardon me not joining her in jumping up and down in excitement. I wish my family had $2400/mo after rent, insurance, and other bills. We don't have any debt, and still don't have that much. I take it this Amy person is comfortably upper middle class or upper class in family income? I don't exactly see it as a great feat for rich people to get out of debt.

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I have a friend who just bought the book and went from there. He took everything to mean "Get your shit together." Every so often I have to hear "Dave Ramsey says..." because I am terrible with money. I am doing a little better, but its my own struggle. I know what om supposed to do... I just nerd to get my shit together and maybe find someone better at managing money.

I can manage other peoples money just fine. Its mu own I have issues with.

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really doubt it :lol: an acquaintance attended the Dave Ramsey seminar through her church, and it wasn't more than could be learned from financial advice books for free from the library. It was a months long weekly thing, though. Some people seem to attend those things to gain status in their church or to have something to talk about. I guess in some ways it could be useful to attend as a couple, to get on the same page. But it was pricey. Really a middle class "how to manage privilege" course imho. Not sure how it compares to the IBLP course.

Suze Orman makes finances super clear for free on PBS and from the library. (even simplifying the investing side of things) But she's a woman and just came out recently so double reasons on why they'd never listen to her wisdom. :roll:

Oh, Dave Ramsey...he's like the mainstream answer to Financial Freedom Seminar. After listening to a coworker who is a blathering idiot talk about how he and his entire family are devout followers of Dave Ramsey, even making their preteen children pay for their own slices when they go out for pizza as a family, I asked my banker dad about it. He was like "You know, Dave Ramsey has good advice, but it's the kind of thing that if you have half a brain in your head, you already know it" which I tend to agree with. I think you can get similar advice elsewhere, but who knows.

I just don't fully buy the "no debt whatsoever" thing...there is this concept of knowing where to tie up your money as making the best investment. Pay cash for a brand new car = all that money is tied up in that car, and you won't get resale value back. Buy new car with sizable downpayment and a good interest rate, invest money elsewhere. It just all depends.

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Oh, Dave Ramsey...he's like the mainstream answer to Financial Freedom Seminar. After listening to a coworker who is a blathering idiot talk about how he and his entire family are devout followers of Dave Ramsey, even making their preteen children pay for their own slices when they go out for pizza as a family, I asked my banker dad about it. He was like "You know, Dave Ramsey has good advice, but it's the kind of thing that if you have half a brain in your head, you already know it" which I tend to agree with. I think you can get similar advice elsewhere, but who knows.

I just don't fully buy the "no debt whatsoever" thing...there is this concept of knowing where to tie up your money as making the best investment. Pay cash for a brand new car = all that money is tied up in that car, and you won't get resale value back. Buy new car with sizable downpayment and a good interest rate, invest money elsewhere. It just all depends.

Advice-wise, I prefer Suze Orman, and the old Motley Fool discussion boards were also good. Not sure if they're still around or not. But I will say, I've read a couple of Dave Ramsey's books, and his advice does seem to be pretty decent (compared to some of the more out-there financial advice roaming around). I think we gave one of his books to DH's financially-brainless brothers*, because it was fairly simple and I thought he'd be more inclined to listen to something with a religious leaning to it. However, Dave is - or was last time I listened - very, very anti-credit card, which I think is kind of illogical and impractical these days. And half an hour of his radio show will hit my limit for a year.

*This is the same brother who was falling for one of the Nigerian email scams, and DH had to talk a lot to convince him it wasn't going to happen, in spite of all the website evidence we sent him. Like I said, financially brainless. He won $10,000 on a lotto scratcher, and I'm betting most of it was spent at the gun show in town the next weekend. I didn't ask, because I didn't really want to know how he wasted it, when he's in his late 40s and living with his parents.

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I am getting a lot of crap because I refuse to buy a house. The last house, I lost my shirt when I sold it. So, I've come to the conclusion that I'd rather rent...I can live in a place for a year and if I don't like it, I can move. I don't have a lot of debt, never have. But that's mostly because I'm a simple sort who only uses credit cards for things like car repairs (my beast needs tires and a few other things and that's going to go on the plastic). I never understood folks who say they have thousands and thousands of dollars in credit card debt. I mean...what can you buy? How much can you buy? I have everything I need and most of what I want. I make a decent salary and purposely keep my living expenses low so I can go blow money if I want to blow it. I do need to rebuild my savings...I went through that while the STBX was in his truly crazy phase and he messed with me so badly I couldn't work. Now though, I'm only responsible for me!

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I am looking into buying a house off someone... but its an older trailer thats been refurnished, and it only costs 10,000. I could see myself saving the money and paying cash because I know the man it belongs to, and my credit isn't good enough to get loans or anything

{L_MESSAGE_HIDDEN}:
thanks mom!

Anyway, I'm working on trying to build back up my credit, but with the stupid student loans from six years ago that I knew nothing about, didn't understand what I was getting myself into, and was assured it was being taken care of, I managed to get it consolidated and on an Income Based Repayment Plan, so I don't have to worry much about it I guess.

I too don't understand how one gets thousands of dollars in credit card debt,

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Advice-wise, I prefer Suze Orman, and the old Motley Fool discussion boards were also good. Not sure if they're still around or not. But I will say, I've read a couple of Dave Ramsey's books, and his advice does seem to be pretty decent (compared to some of the more out-there financial advice roaming around). I think we gave one of his books to DH's financially-brainless brothers*, because it was fairly simple and I thought he'd be more inclined to listen to something with a religious leaning to it. However, Dave is - or was last time I listened - very, very anti-credit card, which I think is kind of illogical and impractical these days. And half an hour of his radio show will hit my limit for a year.

*This is the same brother who was falling for one of the Nigerian email scams, and DH had to talk a lot to convince him it wasn't going to happen, in spite of all the website evidence we sent him. Like I said, financially brainless. He won $10,000 on a lotto scratcher, and I'm betting most of it was spent at the gun show in town the next weekend. I didn't ask, because I didn't really want to know how he wasted it, when he's in his late 40s and living with his parents.

Mr. Cartmann99 has a relative who struggles with managing his money. Every so often, he gets on this Dave Ramsey kick and starts preaching about how awful credit cards are even for those who pay them off every month. :roll:

What I've learned about personal finance is that what works well for one person, may not work as well for others. Some of the personal finance "experts" remind me of the 19th century prohibition crusaders. :fyingpan:

If a very rigid financial plan is working well for you, that's great.

I, on the other hand, would feel like I'd been banished to Maxhell under such a plan. As long as I'm making progress towards my financial goals at a speed I'm happy with, I'm not gonna worry about whether financial expert X or Y approves. :)

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Having grown up in Germany, where people tend to avoid debt ( average personal debt is $30k, compared with about $55k in the UK and $59k in the US), I don't see the point in buying a house until I want to settle down somewhere and have never owned a credit card. But a house and a new car are the two things I would be happy to buy on credit. Anything else, no thank you. That's a cultural thing though.

IIRC, Amy used to work for a human rights organisation, but is now a SAHM. I don't know what her husband does, I think he's an engineer? She worked when they didn't have babies to pay her share of the debt, so it was still Totally Christian cornerofjoy.blogspot.co.uk/2012/03/should-christian-woman-work-outside.html .

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I too don't understand how one gets thousands of dollars in credit card debt,

Me neither. On a given month I might have a couple thousand dollars in credit card debt (say, if I bought a new washer and dryer, which I need to do), but then the bill comes and I pay it off on the day it's due. I know what I have coming in every month and I know what my mortgage and car payments are and I just don't buy stuff if I don't know I can't pay for it a month later.

(And, yes, I am aware that I'm privileged to have an income and savings that more than meets what my family needs! But my adult kids who are below or just barely above the poverty line live the same way.)

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Maybe the old thousands of dollars in cc debt was more common in the 80's and 90's for lower middle class people. The outdated financial books at the library can be amusing, things were different back then. Credit isn't as easy to get these days. I've heard that credit card companies target college students, too, thinking they're good for the payments. Now the interest rates can jump close to 30% after one missed payment, and people living close to the line can get themselves in deeeeeeeeep trouble with payday loans and interest on past credit.

{L_MESSAGE_HIDDEN}:
It's a really awful place to be, and my hubby was there when we first married. Which i did not know, but that's on me. We used to pay about $100/month just in interest, and had to keep maxing it out for utilities and basic needs. (our income back then was about $350-$400 a week, i was working full time and he was trying the self-employed route with a handyman business after getting laid off in the crash, which meant we needed MORE debt to pay for job materials up front) Everything extra went on the card but then all our resources were tied up in it. The balancing act between building a cash savings and paying off the card was tough, esp. because my hubby hadn't yet learned self-control and looking ahead. It was a prison really. It took about 6 years of pretty extreme living to get out of that hole.
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She has a couple of new posts up, which are quite interesting. Main points:

1. I was right, her husband is an engineer. Actually a sweet birthday post with some real insight into his character, not your usual fundie drivel.

2. She bought The Financial Freedom seminar used on ebay (Steve would have a heart attack!)

3. She specifically says she does not agree with everything IBPL stands for and everything the seminar contains. She even calls parts of it "kookie" , "far-fetched" and "outdated". Good to see!

Can't help it. I like her. I think she's my pet fundie.

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She has a couple of new posts up, which are quite interesting. Main points:

1. I was right, her husband is an engineer. Actually a sweet birthday post with some real insight into his character, not your usual fundie drivel.

2. She bought The Financial Freedom seminar used on ebay (Steve would have a heart attack!)

3. She specifically says she does not agree with everything IBPL stands for and everything the seminar contains. She even calls parts of it "kookie" , "far-fetched" and "outdated". Good to see!

Can't help it. I like her. I think she's my pet fundie.

well that's refreshing, a fundie who actually examines things before accepting the whole kit'n'kaboodle.

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