GREAT article with a real plan... - Mothering Forums

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#1 of 7 Old 05-27-2004, 03:47 PM - Thread Starter
 
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http://www.richdad.com/pages/article_debtmgmt.asp

This is great...a doable plan that even I can understand!

Carrie
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#2 of 7 Old 05-28-2004, 05:59 PM
 
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Thanks Carrie. Dh and I both read the article and we're going to give this a shot starting in September. We have some short term things to wrap up this summer that should not be included in this plan. But by Sept. we should have things on a consistant schedule again, and hopefully we can come up with an extra $200 a month to kick this off. If it works, and we can stick to it -- I think we can be out of debt in 2-3 years.
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#3 of 7 Old 05-30-2004, 12:56 AM
 
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This is really great. I love that it's so simple.

Unfortunately, we're falling into the pathetic category of "can't find an extra $150 per month", lol. BUT....we're also looking at paying off most of our debts (basically everything but my student loan) this fall. So we aren't going to do this plan right now, BUT still I am going to keep it in mind b/c I think it could apply to things in the future, like mortgages, and my student loan, etc.

Thanks so much for posting this!

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#4 of 7 Old 05-30-2004, 02:08 AM
 
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I'd like to add my favorite financial website to the thread:
Ric Edelman's site.

http://www.ricedelman.com/planning/debt/step1.asp

I like the the linked plan, but I couldn't stand that man's book. Thanks for posting as I was doing budgetting this week!

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#5 of 7 Old 06-02-2004, 09:02 PM
 
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The kiyosaki plan is nothing new, though that is a good explanation of the process. Mary Hunt and Dave ramsey both discuss the same thing.

Unfortunately I currently cannot even pay close to the minimum on my student loans. I never should have gone to law school.

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#6 of 7 Old 06-06-2004, 01:06 PM
 
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Quote:
Unfortunately I currently cannot even pay close to the minimum on my student loans.
We're in the same boat thistle.

He who can no longer pause to wonder and stand rapt in awe is as good as dead; his eyes are closed.  ~Albert Einstein
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#7 of 7 Old 06-07-2004, 08:38 AM
 
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Quote:
Originally Posted by Carrielee
http://www.richdad.com/pages/article_debtmgmt.asp

This is great...a doable plan that even I can understand!

Carrie
It gets points for feeling of satisfaction, but IMHO you're better off paying down the highest interest rates first.
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