Dave Ramsey Baby Step 6: Pay Off Home Early
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Dave Ramsey Financial Baby Step 6: Pay Off Home Early
If you've been with me through my Dave Ramsey Financial Baby Steps pages so far, you know that I'm making each of them as we were going through them in 'real life.'
So, it's a real pleasure to build this page for Dave's Financial Baby Step 6: Pay Off Your Home Early. You see, we paid off OUR mortgage in September 2010! I still can't believe it! And it was paid over 2 years early (approximately). I never expected to get here quite so quickly, but as Mom's estate was settled in August 2010 at long last, I used the proceeds for what I know she'd want - to secure my home.
Let me share with you Dave's advice on paying off your home early.
So, it's a real pleasure to build this page for Dave's Financial Baby Step 6: Pay Off Your Home Early. You see, we paid off OUR mortgage in September 2010! I still can't believe it! And it was paid over 2 years early (approximately). I never expected to get here quite so quickly, but as Mom's estate was settled in August 2010 at long last, I used the proceeds for what I know she'd want - to secure my home.
Let me share with you Dave's advice on paying off your home early.
Contents at a Glance
- The Total Money Makeover: A Proven Plan...
- Benefits of Paying Off The Mortgage Earl...
- The Financial Peace Planner:
- More than Enough: The Ten Keys to Changi...
- Dave Ramsey, Pay Off Mortgage Money Make...
- The Most Important Thing...
- News About Dave Ramsey
- A Piggy Bank To Help You Pay Off Your Ho...
- Deluxe Executive Envelope System
The Total Money Makeover: A Proven Plan for Financial Fitness
The success stories speak for themselves in this book from money maestro Dave Ramsey
The Total Money Makeover: A Proven Plan for Financial Fitness
Amazon Price: $11.03 (as of 02/23/2012)
This is still my favorite Dave Ramsey book. It was the first book of his that I read & I still refer back to it when I need to give myself a pep talk!
Benefits of Paying Off The Mortgage Early
Dave's Financial Baby Step 6: Pay Off Your Home Early
Some financial advisers claim that paying off the mortgage will deny you the tax-deductible interest, but with only 2 years left to go on my mortgage, we were long past being able to deduct anything. This is one of the things to think about, but for us it was obvious.It's far better in our situation to free up the $800 that was going to the mortgage every month. No, that isn't a high payment from what I understand of other mortgages out there. We were lucky, in a way. Being retired puts me on a fixed income, so that money will definitely come in handy. Not to mention what's been freed up by paying off our debts. AND the feeling of security that comes from owning (for real) your home--outright.
I say all this not to discourage anyone, but to ENCOURAGE you. If I can do it, just about anyone can. It took alot of hard work, a healthy dose of sacrificing and doing away with extraneous services (no more HBO, LOL). We rent movies from Netflix rather than go see them at the theatre, except for a very few. And those are just some examples of the *small* adjustments we made to our budget. Also this month, we'll be disconnecting our land line and keeping only our cell phones. DUH...
All of those little tiny steps, brought us to the point of being able to pay off our mortgage with the proceeds of my mother's estate. In another life, we'd be catching up bills or maybe paying off 1-2 credit cards.
The Financial Peace Planner:
A Step-by-Step Guide to Restoring Your Family's Financial Health
The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family's Financial Health
Amazon Price: $8.80 (as of 02/23/2012)
This is an oldie but a goodie from Dave. I love it ~ read it cover to cover twice!
More than Enough: The Ten Keys to Changing Your Financial Destiny
How to create a budget that fits your income and creates wealth
More than Enough: The Ten Keys to Changing Your Financial Destiny
Amazon Price: $5.00 (as of 02/23/2012)
Being a super-fan of Dave's, I had to have this book too. It's from before Total Money Makeover, and is an excellent read for those needing a little more help on the road to changing our "financial destiny." I don't know that we'd be where we are today without Dave!
Dave Ramsey, Pay Off Mortgage Money Makeover
Video presentation About Paying Off Your Home Early, featuring Dave Ramsey
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Important!
The Most Important Thing...
is to make a plan and stick to it. Re-evaluate it every year when you set your goals, and make adjustments, but keep working towards your goal. It works! We got there!
News About Dave Ramsey
What's going on with Dave Ramsey right now?
- Dave Ramsey: Get your financial priorities straight
- By Dave Ramsey My husband's company recently told everyone that massive layoffs are coming, and they should start looking for other jobs. Right now, all of his options are out of town. A real estate agent told us we'd have to remodel our kitchen in ...
- Dave Ramsey: Stupid taxes to avoid
- By Jason Antebi Debt-free living expert Dave Ramsey, host of 'The Dave Ramsey Show' on 770 'The Truth', says there are six truly 'stupid taxes' that you're paying, but don't have to. In fact, he says you can (and should) avoid them at all costs.
- Dave Ramsey group EVP Bill Hampton leaves after 13 years
- Hampton departs "on great terms", says the Nashville-based Dave Ramsey organization, having served as Executive VP/Chief Marketing Officer at Ramsey-owned Lampo Group. Ramsey's VP of Public Relations Beth Tallent says there has been a re-structuring of ...
- ELGA Credit Union in Burton to offer live simulcast of Dave Ramsey financial ...
- The business on South Center Road will host a live simulcast of a financial seminar by author and radio show host Dave Ramsey. BURTON, Michigan -- ELGA Credit Union has scheduled a live simulcast of the Total Money Makeover program by syndicated radio ...
A Piggy Bank To Help You Pay Off Your House
Bid on these sweet piggy banks on eBay today
Deluxe Executive Envelope System
Dave Ramsey's Financial Peace University
Deluxe Executive Envelope System (Dave Ramsey's Financial Peace University)
Amazon Price: $12.85 (as of 02/23/2012)
This is the envelope system that Dave teaches about in Financial Peace University. The system encourages you to organize your finances using the envelope system; comes with envelopes, a note pad, pen and more.
I Heart Dave Ramsey
His advice made a huge difference in our lives
Suze Orman Says Pay Off Your Mortgage First
Fiinancial Advisor Suze Orman advises that paying off your mortgage is a priority because it reduces financial risk. Suze says to pay off your mortgage as a priority compared to investing in your IRA or 401K. Interview on NBC with Matt Lauer.
powered by Youtube
The Money Answer Book
Questions and answers deal with the most-asked questions from The Dave Ramsey Show
The Money Answer Book
Amazon Price: $3.79 (as of 02/23/2012)
This is Dave doing what I enjoy most ~ answering specific questions from his show. We can learn a lot when we pay attention to what others ask and from the answers to their questions.
Dave Ramsey Desk Calendar:
Daily Advice from America's Trusted Voice on Money and Life
Dave Ramsey Desk Calendar: Daily Advice from America's Trusted Voice on Money and Life
Amazon Price: $11.17 (as of 02/23/2012)
What a great idea for a daily dose of tips from Dave Ramsey! This would make a nice gift for a newlywed couple too.
Twitter Talk About Dave Ramsey
What people are saying about Dave Ramsey on Twitter
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- Treatise
- Dave Ramsey's excellent explanation of the Laffer Curve as it applies to small business. With high taxes businesses raise prices to
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- rick52722
- @TeamCavuto If that were true you would donate more to charity Neal, Dave Ramsey is way off! http://t.co/ERjGIYFa
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- Davidhayden7
- Rich people are rich becuase they're smart, the dumb ones probably Inherited their money.- Dave Ramsey
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- PoliticsOfFear
- Ugh, Dave Ramsey is on #Cavuto right now.
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- brianrhodes
- @JON77LOP Dave Ramsey will kick your tail for that :)
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- FanofDaveRamsey
- Town Hall for Hope with Dave Ramsey – Highlights Part 2: Hall for Hope broadcast April 23, 2009. The event was 9... http://t.co/RhqjspUE
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- zamaRising
- "Your income is your greatest wealth-building-tool, not debt." -Dave Ramsey
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- Twin2Torris
- @kimmaytube And if you've ever listened to The Dave Ramsey Show, the majority is white & far in debt w/houses, cars and credit cards
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- susanjones21
- What does Dave Ramsey say for college students? - Yahoo! Answers: I am a HS senior and have been accepted to a u... http://t.co/NbrfPmU1
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- susanjones21
- Susan Lange, CPA, Now a Dave Ramsey Endorsed Local Provider ...: Susan Lange, CPA, of Advantage 3 Tax & Financia... http://t.co/WokjYvrA
automatically generated by Twitter
Check Out These Helpful Links For Info On Paying Off Your Mortgage Early
- Mortgage Calculator Provided by Dave's Endorsed Local Providers
- How long will it take to pay off your house? How much could you save if you made extra payments? How much extra money could you put toward your house if you stopped eating out for lunch? Use our calculator and find out!
- Ten Reasons for Paying Off the Mortgage
- "Paying off the Mortgage"--it's an idea with obvious appeal, but not one that many middle-class workers pursue. The reality is that it's often a better idea than much conventional money management advice suggests.
- 8 Steps to Paying Off Your Mortgage Early - MoneyBuilder - making sense of your finances - Forbes
- Amortize, the dictionary tells us, is the gradual extinction of a future obligation. It's also what occurs when we repay our mortgage through our monthly payments. Recently, I have had two people ask me if they should repay their mortgage early. While there are psychological benefits to wiping
- How to pay off your mortgage early (4 ways)
- These are 4 simple ways to pay off your mortgage early!
- Is Paying Off Your Mortgage Early Always the Best Option?
- With the recession still a reality for many, it seems as though getting out of any debt is a good option, including mortgage debt. And there are advantages to paying off a mortgage early.
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Othercat
Jan 24, 2012 @ 10:57 am | delete
- I don't have a mortgage, but I do have credit cards. Every month I pay 2 to 5 times the required payment because all that extra goes towards lowering the balance faster (instead of just paying off interest).
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ChineseKitesforKids
Jan 24, 2012 @ 10:36 am | delete
- I've been through his course and I loved it. I don't own a home. But I agree with everything you have written here and congratulations on your success with paying off your home. It's like I always say, God is good ALL the time. His plan is perfect. Have a blessed day you sweetheart.
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mostwantedtoys
Jan 24, 2012 @ 7:51 am | delete
- Our daughter and son-in-law totally enjoyed the Dave Ramsey course! I am so happy they are on a path of financial security!
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poutine
Oct 29, 2011 @ 6:26 pm | delete
- It's a wonderful feeling to be debt free, to own your own house, not the bank, isn't it?
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