Saturday, December 12, 2009

Ramsey Fail

As most of you know, I've been involved in Dave Ramsey's financial class, "Financial Peace University" for a few months now. I have two more classes and I'll have completed his thirteen week course. After three months of budgeting, it's supposed to get easier.

Except I'm starting over completely now, after the car repair/ flying to NJ thing from last week. Sigh. My emergency fund is completely wiped out (one I worked hard on, one that took me months to even get to $400!), I owe MORE money to a family member...I'm going down, not up.

It's really frustrating! I was doing pretty well with the whole budgeting thing, but this month is just down the drain between Lyn's visit and then my Grandpa dying. I have about 10 days left of being in BC for December and the rest of the time I'll probably be at my parents' for Christmas break...so I'm going to readjust my EF ticker back to 0 and begin again in January. Dave probably wouldn't agree, but I'm curious as to what he would have done in my position: not enough money in the emergency fund to pay for a car repair AND transportation to a family funeral? I already work 2 jobs, I don't have a fancy car payment, I shop at Aldi-- there's not much for me to cut out! I'm almost tempted to email him and ask...haha!

6 comments:

  1. I don't know what he'd say, but tomorrow is a new day and starting over in Jan. sounds good to me. You'll get there!

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  2. I think you should email. He's likely to tell you to just not gve up, but it mght be worth hearing. Assuming he says it in the podcast portion right?

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  3. Good luck. I know it's not easy.

    We'll be more comfortable when we get our tax refund and can pay off the CC debt. I hate having debt, it makes me uncomfortable. We don't have much, but I had to get new glasses so I had to put that on the card since they weren't cheap.

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  4. NOT DR fail. How about we're DR challenged?
    Look at the positive here: you'd owe even MORE on your cc, even MORE to family had you not had that ER of $400. $400 is great progress! Especially on a teacher's salary. ;) You saved yourself a lot of interest by using what you did have set aside.

    You are not alone. We are right there w/ ya, having to start on step 1 again with the new year.

    I would love it if you e-mailed your story in. Do it!

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  5. I think you should look at the success did you have. You had $400 in your emergency fund which you were able to use during these two emergencies. I know it wasn't enought, but if you didn't have it, you would have had to borrow even more. Celebrate your success and the fact that you are not being discouraged and will start again in January. You're on the right track.

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  6. Treat it like life. Indeed, our goal is success, but we are not always promised success. Sometimes we work long and hard at something without seeing results. The important this is faithfulness and perserverance, and God will give you joy in that, and perhaps in His perfect timing, He will grant you success. I think that Ramsey's principles are great, but sometimes it takes hold of people and they make an idol out of their own budgeting process! It's all about balance, I suppose, and letting God have control.

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Life is not measured by the number of breaths we take, but by the moments that take our breath away. Comments warmly welcomed! :-)