We Disagree On Paying Off Bills

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Comments

1. I would love for Dave Ramsey to help me I am a single parent of one I work as a cashier in a casino my income monthly is 1400 I am own 2900 in student loan and 3000 in personal debt ,and my monthly expenses are 1100 i am going to receive my tax income check and not to sure where to start paying off first please help Shelly
2. this is my husband too.... the interest is low, there is no need to pay it off..... I'm so mad
3. Classify the type of debt!
   
   Court cost: Court will fine you after a certain amount time, at an outrageous interest rate. More time goes by, the more additional fines you will rack up. Possible phone calls and letters if they choose that route. If it's motor vehicle related, your driver's license is at risk, as is getting your auto insurance renewed at a decent rate.
   
   Medical: May hassle you on the phone for a while & send you letters. End result: If you choose to NOT pay off the medical debt, the medical institution may choose to report you to the credit bureaus, and your FICO score will get lowered. Also, the medical institution will probably choose NOT to treat you in the future. If, in their eyes, it's small dollar amount, they may simply choose to write it off, and forget about it.
4. I like how you compare getting debt free with loosing weight, because both have to do with "shedding" pounds! Physical pounds and the pounds of worry when you have debt!
5. This is where I disagree with Ramseys my way or the highway philosophy. I broke one of his cardinal rules. I cashed out my 401k to pay off debt. Logically this was a terrible decision but one I had to do to break the cycle. I didn't eliminate all the debt. I had been in some type of debt for the last 15 years. Once I had the debt at a manageable size I was able to tackle it and finally eliminated it and have stayed debt free for over a year. Emergency fund completed. Time to rebuild the 401k. Not everyone is the same. In this case keep the 0% loan (0% forever??) and put more into the emergency fund/retirement/mortgage.
6. waw... i love you Dave. God bless you. Your biblical principles on money has changed my life.
7. How old is he or she? She sounds like 60 + and she will never change.
8. It would make more sense to put extra money on a mortgage that you're paying 5% on instead of paying down a 0% debt. It would not make sense to take the extra money and buy a boat however. Also, I love how Dave says, "Miwwions!"
9. I think the best counter argument I'd make is that if you're paying $50 a month on a zero interest debt, you could be EARNING interest on that $50 every month in an INVESTMENT.
10. I'm glad she asked this question. I still want to know what to do when you tell your husband all of this and he still doesn't agree.
11. I've been paying off more then the minimum to get out of debt. It's stressful but watching those dollars go down makes it well worth it. Every week I pay towards my debt.