I started working on a plan several years ago to get myself out of debt. Things have been going pretty well over the last 3 years and I'm starting to see the light at the end of the tunnel. Recently a friend told me about Dave Ramsey and his book "The Total Money Make Over". This past Christmas I was give a gift card to Borders and decided to purchase Dave's book with my gift card. I have read a little more than half of the book and I wish someone had told me about this book 3 years ago when I first started working on getting out of debt because there is no doubt in my mind if I had started on Dave plan 3 years ago I would be out of debt at this point. However I have made some changes in my debt management plan and I'm already seeing some progress in my get out of debt plan.
The following are a few notes I have take from the book as I have gone along so far;
- Walgreens, Cisco, Microsoft and Harley-Davidson are run debt-free
- Sears now makes more money on credit than on teh sale of merchandise
- Debt is the symptom of over spending and undersaving
- Studies show that the zip codes that spend 4x's what anyone else does on lottery tickets are those in lower - income parts of town.
- "A budget is people telling their money where to go instead of wondering where it went" John Maxwell
- Cash enables you to say no to yourself
- Ignorance is not lack of intelligence; it is lack of know how
- Continuing to do the same thing over and over again and expecting a different result is the definition of insanity
- "You can get anywhere if you simply go one step at a time"
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