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Dave Ramsey’s Personal Finance Software – Budgeting Software

A few months back the Dave Ramsey website was having a deal on there Financial Peace Software so I decided to buy it. Though I have had the software for a few months I only just started using this month. So far I really like it. There are a lot of great tools offered in the software.
All of the worksheets found in the Financial Peace University curriculum (Monthly Cash Flow, Allocated Spending, Income Sources, etc.) is also found on the CD-ROM. You can print out blank sheets or the sheets you have filled out.

The great part about this budgeting software is that it calculates everything for you. So you just enter the numbers and then the software takes care of the rest. Percentages are also automatically calculated for you.

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There are some other tools that are useful as well. In the Tools section of the CD-ROM you can use the Financial Calculators, Glossary and Check Register. The software is fairly simple (as opposed to too complicated that you get frustrated and don’t bother with it) but very useful. The Debt Snowball program is one of the best features. Enter in all your debt balances with monthly payments and it will calculate how long it will take for you debt to be paid. The Debt Snowball features also allows you to view your progress in charts and graphs.

The software is $24.95 and totally worth it. I like having my budgeting software on my computer since it’s with me just about everywhere I go. You also have the choice of downloading the software straight from the website. No need to wait on getting your budget started. Check it out! Dave Ramsey’s Personal Finance Software.

~Mona

October 28, 2008 | Filed Under Blogging Tips, Dave Ramsey Financial Freedom, Financial Goals, Financial Planning | 3 Comments 

Borrowing your way out of debt? Desperate times call for desperate measures: quit borrowing.

The first step in Financial Peace is to resolve to quit borrowing. Our culture is very much centered on borrowing. First, we borrow our way into debt, and then we borrow our way out with consolidation loans, credit counseling, and high interest loans. Society even encourages us to be in debt by awarding us a FICO score that is used to give us loans. With the socialization of the mortgage industry, the government now has FICO based approval for home loans. Ultimately, this means that those who have not become a slave to debt will not be able to secure a home loan. I suppose there is the potential to save and pay cash for a house, but even Dave allows a 15 year mortgage as a form of debt.

Regardless of your FICO score, in order to achieve Financial Peace; QUIT BORROWING. We live in a society of instant gratification. We have a sense of entitlement. We work hard, we need big houses, big televisions, designer clothing, cell phones that have manuals thicker than the phone book of my home town (Marion, Alabama,) and a new car every few years. Count the number of commercials for cash advances, title loans, check cashing… etc. In case you didn’t know, these loans are a BAD idea, no matter what the “emergency” is. These commercials have women with shopping bags talking about sales that couldn’t be missed, young couples waving fistsfull of cash while driving off in a car from the title pawn saying “We even got to keep our car”. Guess what. You just pawned your car. It’s now THEIR car until you repay the loan. The interest rates that these places charge are criminal, and more often than not, you will struggle to pay it back, or you will lose the car. It will NOT be worth it. Payday loans work the same way. Additional loans are needed to pay off the first loans. Quit borrowing. No matter what society, or some marketing team tells you: you can not borrow your way out of debt.

The most alarming to me is cashcall.com. The “whatchu talking about Willis” former child star is crying that he tried to auction his clothes, and even his car, but then Cash Call gave him the money he needed. The rates on these loans are ridiculous, and vary from state to state. The way to stop this kind of indebtedness, is to #1 QUIT BORROWING, and #2, use common sense. As a resident of Virginia, to borrow $1,500 from cashcall.com, after the “loan fee” of $500, I’d walk away with 1k. After 12 months of monthly installments of $159.83 for a total of $1917.96, nearly 100% of the amount I walked away with. If I were to borrow $2600, the loan fee goes down to a mere $75 but I’m paying $216 a month for three and a half years. My total repayment would be $9095,10. The premise of the commercial is that poor Gary Coleman needed to sell his stuff to get money. Despite the message, that’s exactly what he should do! Calling cash call is the dumbest thing that could be done. Even if I needed this loan to keep my lights from being cut off, I’m paying them the equivalent to a light bill for the next 3.5 years, putting myself in additional financial stress for the next 3.5 years. I’m just extending my financial burdens. If you’re getting these loans to buy something you can’t afford, think about what you could have afforded. Think long term.

Desperate times call for desperate measures. When your finally desperate enough you will quit borrowing. QUIT BORROWING. But, they’re going to repo my car. Sell it, don’t title pawn. Sell it for blue book. They’re going to take me to court and get a judgment and destroy my credit. Okay. Since you’re not borrowing anymore, my FICO doesn’t matter to me. Being a mature adult means delaying gratification, being responsible for the consequences of my bad decisions, and making restitution. Continuing to make bad financial decisions isn’t going to save me from a judgment in the future. It will only prolong financial stresses which branch out into every aspect of my life. Ever laid in bed at night and worried about money? In the shower? Do you get a pit in your stomach when you check the mail, or screen calls because you’re tired of talking to collectors? Get out of it. Quit borrowing. Save 1,000 in cash for “emergencies”. Pay yourself first. Pay for your shelter, food, utilities, and transportation. If there is any left over, pay your unsecured debt using the debt snowball. You can not borrow your way out of debt. No matter how cute the commercials, it will only cost you more in the long run. Cut your lifestyle and live your wage.

You can not borrow your way out of debt.

You can not borrow your way out of debt.

You must make hard, common sense choices to get free of the debt you’ve incurred. After you’ve quit making excuses, rationalizing and making the decision to quit borrowing, reevaluate your lifestyle. What about all those necessities you can’t live without? If you’re serious about getting out of debt, if you’re tired of the stress that comes along with being in such debt, you’ll live without them. Go to the bare bones. Turn off the cable, do you need a land line and a cell phone? Cut down your groceries and buy generics. Don’t eat out. Don’t eat out. Don’t eat out. Cut all unnecessary spending. Starbucks got way too much of my money. Turn down invitations to birthday parties. Lunchbag it at work. Don’t eat out. Get a 2nd job or work overtime. Have a yard sale. Sell something. Come up with the money before you borrow more. You can not borrow your way out of debt. In the end, you have to make the decision either to keep living a lifestyle you can’t afford, and borrowing, or to live your wage, pay off your debts, and be free from these financial burdens. It isn’t forever. In fact, Dave estimates that it takes about 2 years for people to pay off their debt. Wow. 2 years of bare bones living or 5, 10, 15, 20, a lifetime of living in debt.

~Manda

September 17, 2008 | Filed Under Blogging Tips, Dave Ramsey Financial Freedom, Dave Ramsey Financial Peace University (FPU), Financial Freedom Journey Pep Talk, Financial Peace Baby Steps, Financial Peace University, Just Whatever | Leave a Comment 

HerProBlog.COM – My Newest Blog Project Has Launched

July 15, 2008 marks the first official launch date of a project I have been working on for over a year and a half. It’s been a lot of hard work but is one of the most exciting projects I have ever worked on.

HerProBlog.COM is a website dedicated to helping women bloggers create and maintain professional quality blogs. The project has already brought a lot of interests and subscribers. The website is starting out with a some great stats:

Page Rank 3
132 Subscribers
426,000 Alex Rank

HerProBlog.COM is a multi-authored blog. We have a total of seven authors including myself.

I would love for you to stop by my new website. Men and women both can benefit from this site.

July 15, 2008 | Filed Under Blogging Goals, Blogging Tips | Leave a Comment 

ProBlogHer.COM is in Pre-Launch!!

probhbanner1123.jpg

The reason I a have been so busy lately and haven’t had much time to write is because I have been working on my latest website. ProBlogHer.COM is a website geared toward women bloggers who are interested in taking the necessary steps toward professional blogging. I am really excited about this project and expect it to be very successful. At this point I can’t tell you much more so you will have to visit the site and subscribe the email updates. I will offering articles about this site and information about when the site will officially launch. This project has been in the making for about 6 months so I have put a lot of thought into it. I really think readers will benefit from this site. This site is geared toward women but men a certainly welcome to be apart of this site. Visit ProBlogHer.COM for more info.

February 12, 2008 | Filed Under Blogging Goals, Blogging Tips | 1 Comment 

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  • Budgeting Works!

    To gain financial freedom you must take control of your money, plan for the future and Stop Borrowing Money!
    Two families striving to gain financial freedom share their experiences.
    Blog Author Mona Weathers (monawea)


    Co-author, Manda C.

  • Time To Budget News!

    Manda C. is our new contributing author. Welcome Manda!