Step 1: Stop Borrowing

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    We decided to simplify our finances and see if we can make something out of these salaries we earn. The first part of that is not spending money you don't have (ie. credit).

    1. MissDirected 88 months ago | reply

      I'm working to pay off all my debt this year, and then I will keep my one credit card in a bag of water that has been frozen in the freezer. That way, I'll still have the card if an emergency comes up (like major car repairs or something), but I won't be able to use it for frivolous, spur of the moment purchases because I'll have to thaw it out slowly since you can't microwave the bag thanks to the magnetic strip on the card. Hopefully I'll enter my 30th year completely debt free.

    2. giddygirlie 88 months ago | reply

      great shot!

      We haven't had credit cards in years, which is fine mostly, because we can still use our debit card everywhere if we need "credit card" access. The only downside is that we can't finance things, like vacation, we have to actually SAVE which takes a lot longer than you'd think. Better to pay off a loan for 2 years, than to wait 2 years to save the money. But, I guess it's good for us, so... oh well.

    3. HockeyBrad 88 months ago | reply

      I think that's the point though, Mia... it's not better to spend two years paying off a vacation. Instead of spending your life paying for things that are already gone, or are no longer new, you can spend your life paying cash for things that are new and fresh and exciting. When the vacation is over, so is your responsibility to pay for it. Now start saving for the next one. Plus, it's far less expensive. And if there's an emergency, you're not screwed.

    4. giddygirlie 88 months ago | reply

      yeah, debt free is kinda cool, I guess. But sometimes... man, I wish I had a credit card so I could just get up and go! ha ha

      p.s. you're totally a "dad" you know that, right? Telling people not to spend their money all willy-nilly and save for an emergency? ;-)

    5. snowy 88 months ago | reply

      are you sending that into Dave Ramsey? I am all about the Dave plan. I have 4 more car payments then i am debt free but the house.
      of course we still have all sarah's student loans to kill off but we're workin on it. not exactly Gazelle intense but plodding along with the plan just the same. good for you all, btw!! i will listen for your debt free scream. =)

    6. HockeyBrad 88 months ago | reply

      Ha. Well, it wasn't recent enough for us to call in really. I'll let you know when the house gets paid off and then I think you'll be able to hear me scream from Missouri by sticking your head outside.

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