Wednesday, January 28, 2009

Gaining control...

That's right...I'm taking action to put my family in a better financial situation. With the new year, I have finally made a resolution (because I typically never make them) to get a hold of my family finances. Truth be told, the true incentive came from the fact that hubby is going to be let go from his job in a matter of a couple of months because his company (bank) was purchased by another group and they've decided to consolidate.

I've worked hard over the past five years (because the finances have been my responsibility) to eliminate credit card debt, but it always seems that I've saved nothing for our "rainy day" fund. I'm a big fan of both Suze Orman (http://www.suzeorman.com/) and Dave Ramsey (http://www.daveramsey.com/) and I've learned alot of information from both individuals. However, I was watching Oprah's Best Life Week series and was excited to see that Suze Orman was going to be on and that she had a web cast on getting your financial plan together.

During the Oprah show, Suze was offering her new book Suze Orman's 2009 Action Plan (Keeping Your Money Safe and Sound) for a free download on the Oprah.com website. I downloaded it that evening and I read it in two hours (209 pgs.) Although I'm familiar with her teachings and philosophy it was still a great read that teaches us to focus on the tough economic times that everyone is currently facing. I also watched the web cast (be sure to check it out) and learned that over 2 million people downloaded her free book. Although it's only $5.00, I think it's worth the purchase.

Since I mentioned both Suze and Dave Ramsey, I would also suggest Dave Ramsey's latest book, Total Money Makeover, which is another great book. I purchased the audio book from iTunes back in October, so I could listen to it in the car or while working out. This book was instrumental in getting me fired up about developing my inner "gazelle" like intensity. Although both books are great, Dave teaches more that everything should be paid for in cash and that FICO scores aren't important because you shouldn't use credit cards. I don't agree with his theory 100% but it did make me realize that if we had a savings, then I wouldn't rely on the cards to bail us out of a bad situation (car problems, tuition bill, etc.) He also teaches a class in several cities (unfortunately none in Columbus) called Financial Peace University which I've heard great things about. I'm working hard so that I hope by August of 2009, I can call into his radio show and scream "I'M DEBT FREE!"Here's to hoping anyway...

1 comment:

Farrah said...

You must admit that Suze if fun to make fun of. There's some great stuff of her on You Tube. I get excited when she's on Oprah giving people the smack down.