I find myself really interested in Financial planning lately. We have not used a credit card for over ten years now. We work hard at being self sufficient but part of being self sufficient is being financially prepared also. We lack in that area. Sure we have our 401K and we do invest in the stock market but our savings in only around $1000. Ok to be honest, it was $1000 before I had to take $200. Out for last weekend.
Our church put out a pamphlet out on family Finances. You can read that phamplet online. That really got me to thinking that Heavenly Father must be warning us of hard times to come. This came as no surprise to me as the Scriptures have warned us over and over what is to happen and yet we continue to ignore the warnings. Wonder why that is? Do we honestly believe that the scriptures do not apply to us???
I must admit that I have never heard Dave Ramsey speak. He is the host of The Dave Ramsey show and over 3 Million listen to his show each week. That is a lot of people. You can reads alot of his advice online. I had been hearing a lot about him lately. So I went to my local library and ask for his new book “The Total Money Makeover” Of course they did not have it so I ask if they could get it for me. They said yes and in a few days they called me and said my book was in. I rushed up to pick it up.
This book is filled with stories of people who never thought it would happen to them. They were into thousand and thousands of dollars in debt with no way to get out. Well by the second chapter, I began to be really concerned. We are not into debt except for our mortgage, car and of course those High Medical bills. I hate medical bills and we have thousands of dollars of them that we pay monthly payments on. Some of you know what I am talking about. Those dreadful hospitals and doctors are expensive. Can anyone really pay then off???
Now my interest in financial planning is turning to panic at this point. I am feeling an urgency to get my money working for me instead of me working for it. You know what I mean. We work day in and day out and as soon as the check arrives or in some cases, even before it arrives, we have the checks made out for the bills. Where does the money go?
I am concerned that maybe we are not living within our income or we would have more saved by now. So, now the question arises as to what we are to do to remedy this problem. I cant cancel the cell phones as we signed a contract and if we break it, there is a $200. Fee. Or will it end up costing less than $200 if we keep it. The wheels in my head are spinning. The cell phone company wants to have a hold on us but it may be cheaper to pay the $200. And loose that payment each month.
Now on to the internet, Do I really need it? A quick “yes” comes to my mind. I make money online. But do I make enough? My mind refuses to think about loosing the internet. So maybe that isn’t the place to start. The Dish people are always trying to get everyone to upgrade. Why cant they just let us pick the channels we want instead of all those ones that we do not want??
If you worry about bills or your saving account, You have got to get this book. No, don’t buy it as that is wasting your money. Chances are you will only study it once and if there is something in it that you need you can always go to the library and check it out again. Have you ever thought of how much money you could save by not buying books? Even at yard sales, they still cost. You can get them for FREE at the library. They have tons of them.
The following are serious questions and something that we all must think about. Share your concerns with us.
Are you concerned about your finances?
What are some ways that you have cut back on your bills?
Do you have enough in your savings to pay all the bills for three months or even one?
Would you loose your home if the income were to suddenly stop I n your household?
Do you even have a saving plan?
When you reach retirement age, will you have to lower your living standards?
When you retire, will you have the money to do what you have always dreamed of doing?
Would one major medical emergency wipe out your saving?
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Comments: 188
We don't really have a whole lot in savings (we have seperate savings because of my huband's repo'd car right now).
We do have life insurance, but that is about it. My husband also has a retirement plan through his work, but we are hopiing to use that as a down payment on a house. Hopefully, a large down payment as I want low monthly payments! I also want the house paid off before we retire, which will take some financial finagling!
I think you would be amazed at how little life insurance helps when you die. Your family has to pay so much for the funeral and then there is all the fees to have everything done that needs done. We have handled 3 funerals for family and it is not fun and it is expensive.
I acturally already have my funeral arrangements made. If you make them, the price is locked it at the price at the time of your last payment.
We're far from being where we want, due mostly to just having a large family and big medical bills.
Still, it's really helped us. Just my 2 cents
What is scary is if something major happens to me health wise. I have no health insurance. Major surgery would wipe out most of what I have saved!
And retirement is scary for me too. I don't have a retirement account.
Medical bills can quickly wipe you out. We have found out by experience. Can you tell us more about Crown Financial Ministries
I am sure alot of people would like to know more
We have a friend whose 25 year old daughter developed a brain tumor. She was in college with no medical insurance. All her medical bills were paid by programs. I see the same dr as she did. We have insurance,not a good one but one none the less. they only pay a portion but we did not qualify for help so we have to make payments on my medical bills and my problem will be with me the rest of my life.
I feel compelled to say up front that this group is conservative Christian. At times even more conservative than Mark and I are.
Even though we had to filter some of that, the lessons and principles were solid.
They have various resources and ways to go through their materials. For the two of us, we went through the small group study. It was us, and three other couples. I think it helped us to know that we're not the only ones who struggle.
Thanks for all the added info.
Have you read the book I referred to in the article?
I hope it will help someone to be better prepared
I hope you can use the information
This is a good article and pertinent to almost everyone. Retirement is something that most people don't put much thought into until they start getting older, and then it's a big shock how little you've saved or worried about it. Add to that the fact that most people now (and this is a good thing) are living longer, which means that they probably need even more money than they've planned for. This is a very thought-provoking article for everyone who isn't independently wealthy.
We have no credit cards.
My oldest daughter got a credit card when she was in college. They acturally set u a booth on college property and signed up the kids. My daughter did not even have a job at the time.
Most people pay the minimum payment while charging more.
Wanted to say that this is a great, thought provoking article.
I am so happy I do not have credit cards.
articles here are loading slow for me.
We do have to be careful with money as we do not have credit card, to fall back on should we start to run low on money.
I have $150.00 worth of food dining certificates I purchased for $40.00 I saved $110.00!!! True!
I stock up on certificates when they have a sale both for our use and also for gifts, you can personalize the gift ones at the site.
Here is the article.
http://www.gather.com/viewArticle.jsp?articleId=281474977012066
That BOGO is not being cheap. It is being frugal and I for one am always trying to be frugal. Thanks for the info
No it is not right but I suspect that the college gets a lot of money for letting the credit card people on campus. I dont know that for a fact but it makes since.
I blame hollywoood too. I also blame the media such as reporters and yes even the radio and newspapers. They all seem to be just in it for the money!
Good morning or should I say good afternoon. Thanks for dropping by
I know I keep talking about my medical stuff, but I told you I'd keep you all updated when we found anything out. So, I posted a new comment here: http://www.gather.com/viewArticle.jsp?articleId=281474977014712 that will explain a lot of things. Thanks for looking.
http://www.gather.com/viewArticle.jsp?articleId=281474977016209
Is it time for a nap????
LOL
We're not rich by any stretch of the imagination. But we're not in bad shape
http://www.gather.com/viewArticle.jsp?articleId=281474977015951
That is wonderful. You are on the right track
YOU HAVE TO TRY! You know it canted be closed without you.
Thanks for stopping by. I apperciate it.
I have never heard Dave Ramsey or Crown ....
Gather is really slow tonight
Thanks for stopping by. It is going to be a dreadful night on gather I believe
I'll think I'll take a shower and tryh again in a half hour.
Yay for them! I'll be posting an article with each of their featured content on their birthdays.
If you'd like to join my birthday group where I feature and promote your content for an entire week and we send you birthday comments, then please click on this link: Your Birthday Week, read the guidelines and request an invitation.
Thanks!