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| Quirky glasses, courtesy of Kate Spade & my optometrist. |
Before I turn 24, my goal is to be COMPLETELY debt-free.
No student loans & no credit card payments.
How?
I only have a giant student loan over my head (and some small credit card bills) and I chose to sacrifice by living with my parents right out of college until then but in the end, I'll be able to enjoy my monthly income without having to dish it out on a bunch of bills I can get rid of early on.
So far:
I've completed Dave Ramsey's Baby Step #1 and that is $1,000 in emergency savings.
Now, I'm on Baby Step #2: pay off all that damn debt.
I've paid off one of my credit cards.
I've paid my first student loan payment and will be contributing about $2,000 in addition to the minimum payment by the end of this month.
With parents who constantly tell me to keep my finances in order, make sure to be aware of my spending habits and to not make the same mistakes they did, my perspective of money isn't all the same as everyone else's. I want to retire early and earn wealth by knowing how to properly manage my finances.
Yes, I love to shop and spend money on a superfluous amount of Starbucks drinks and food.
The amount of money I spend eating out as of late...no bueno.
Should I be doing that with a giant loan attached to my ankle like a chain? UH NOPE.
Recently, my boyfriend and I have been following this guy named Dave Ramsey and his financial advice.
If you haven't heard of him, your parents may have and if not, you will hear about him now!
I have been listening to his podcast on Itunes every morning for the past 3 weeks and my boyfriend lent me his book, The Total Money Makeover. Prepare to be ripped to shreds for all your dumb spending habits. My boyfriend tried getting to listen to him but I just didn't really give it a try. Plus, I like to do things on my own. When I finally did, I became obsessed with learning more.
Dave Ramsey's views on finances may seem extreme to some or downright crazy but that man is a multi-millionaire and knows what he's shouting about. I would say talking but if you listen to him on the radio, you'll agree.
If you need someone to financially kick you in the ass, I HIGHLY recommend picking up this book or downloading his podcast on Itunes. Search for "The Dave Ramsey Show" and subscribe.
It will literally change your life.
If you have financial resolutions for this year, give him a shot.
Although I'll be living like a broke college student for another year and change, I'll be completely debt-free before I move out of my parent's house and all of the money that would normally go to those bills can go to bigger and better things like whatever I want + my dream wedding! I also have dreams of going to grad school but I want to cashflow that so I don't make the same mistake of getting into loans like last time. Throwing all the money I can to debt & watching my spending habits will literally pay off in the long run.
Next thing you know, you'll be floating in money like Yonce.
What are your thoughts on student loans?
Do you have a plan to get rid of Sallie Mae from eating all the money in your wallet?
xoxo,
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