*The Dave Ramsey 'Baby Steps' Thread*

[newski_mom]

Long time reader, but rarely post - I just wanted to add one thing DH and I did to build our funds when we started sinking funds for our annual / semi-annual expenses - changed our drinks to water.

When we would eat out with the family (or just ourselves), we started ordering only water. We didn't eat out too often, but with 5 of us, not ordering sodas saved anywhere from $10-$15 every time we did. We never ate at fancy places (think Steak & Shake, Fazoli's, etc), but it would still save at least $40-$50 a month. I just moved the money each time after we ate out depending on the drink places we chose.

 

[Bellex917]

Long time reader, but rarely post - I just wanted to add one thing DH and I did to build our funds when we started sinking funds for our annual / semi-annual expenses - changed our drinks to water.

When we would eat out with the family (or just ourselves), we started ordering only water. We didn't eat out too often, but with 5 of us, not ordering sodas saved anywhere from $10-$15 every time we did. We never ate at fancy places (think Steak & Shake, Fazoli's, etc), but it would still save at least $40-$50 a month. I just moved the money each time after we ate out depending on the drink places we chose.

And this is why "personal finance" is "personal"- I LOVE a fountain soda and prioritize when we go out (we usually eat out 1x a week). I've stopped buying soda at home (which def saves a ton) but when we go out, I am DEF getting a Coke! LOL

 

[newski_mom]

And this is why "personal finance" is "personal"- I LOVE a fountain soda and prioritize when we go out (we usually eat out 1x a week). I've stopped buying soda at home (which def saves a ton) but when we go out, I am DEF getting a Coke! LOL

Completely agree, there are so many ways of achieving the same goal!

 

[WDW_fan_in_TX]

I need to start sinking funds. I think that's a great idea. Just to put say 420 in an envelop everyy paycheck. Make 1 for car expenses (1 for car repairs/oil changes, 1 for registration/taxes), one for medical expenses for when we have to make a trip to the dpctpr (I had to visit the cardiologist this week, and it was $75). Then 1 for any household repairs (like if our washer, dishwasher go out). I think that's a tremendous idea. Just slowly add to it.

 

[afan]

Then 1 for any household repairs (like if our washer, dishwasher go out

Again, unless these aren't provided by your landlord, these and most other household repairs aren't your problem. It's one of the few advantages to renting, maintenance and things breaking aren't your problem.

 

[WDW_fan_in_TX]

The dishwasher and heater/AC are covered by the landlord as well as any faucets, including outside faucets. If anything goes wrong with washer/dryer or fridge, then that's on us to repair/replace.

Again, unless these aren't provided by your landlord, these and most other household repairs aren't your problem. It's one of the few advantages to renting, maintenance and things breaking aren't your problem.

 

[barkley]

Take a look at your credit card statement sometime and see what they charge for a cash advance. It's the same thing as borrowing a personal loan. High interest rates apply to unsecured loans. Yes, it's legal even though many would consider it usury. That's why it's probably not a good idea for the PP to take out a personal loan to pay off the car loan so that they can sell the vehicle.. The rate on the personal loan would be high, the money that they would realize from the sale would not cover the loan and they would be left with only one car to get two people to their jobs which are miles apart.

thankfully i've never had to consider a cash advance from a credit card but I did just look at the terms on mine-still seems outrageous to me but at 17.99% it's just about half of what I saw quoted on bankrate.