Author Topic: family wipes out $123k in debt  (Read 3419 times)

Offline Roknrandy

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family wipes out $123k in debt
« on: October 20, 2009, 06:34:35 AM »
A family wipes out $123k in debt in just 4.5 years. CNN Personal Finance Editor Gerri Willis on how you can do it too.


http://www.cnn.com/video/#/video/bestoftv/2009/10/19/digging.out.of.debt.cnn

Offline ubergeek

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Re: family wipes out $123k in debt
« Reply #1 on: October 20, 2009, 07:07:22 AM »
Very impressive.

Offline Pathfinder

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Re: family wipes out $123k in debt
« Reply #2 on: October 20, 2009, 07:45:40 AM »
Dave Ramsey has been saying - and proving - this for years. Nice to see CNN finally get on the ball.

Offline swoods

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Re: family wipes out $123k in debt
« Reply #3 on: October 20, 2009, 09:47:57 AM »
Makes me smile today to see some positive news. :) I am in the process of refiguring my budget and allocating resources to get out of debt except for my house payment. This story has inspired me to do even more.

That is one honorable family.

Offline chris

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Re: family wipes out $123k in debt
« Reply #4 on: October 20, 2009, 11:20:16 AM »
Maybe this will catch on and the majority of people in this country will pull their heads out of their backsides.

Offline BerserkerPrime

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Re: family wipes out $123k in debt
« Reply #5 on: October 22, 2009, 03:37:14 AM »
Dave Ramsey has been saying - and proving - this for years. Nice to see CNN finally get on the ball.

The funny part is that they will turn around bemoan the economy because folks are not buying trash at the rate they "should" be. 

Good on them for reporting this stuff.  We followed DR for years and he really enspired me to go debt free.  We should get a 5yr chip or something for slaying that monster ;D!

BP

Offline Stein

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Re: family wipes out $123k in debt
« Reply #6 on: October 25, 2009, 10:41:59 PM »
So, they cut their spending to the bare bones and got a second job.

Then, the "expert" goes on and on about credit counseling, reducing minimum payments, making deals with creditors....

Offline JohnInEastAsia

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Re: family wipes out $123k in debt
« Reply #7 on: October 29, 2009, 03:56:43 AM »
Dave Ramsey has helped me but I don't agree with all his advice. He hates gold and is a permabull in the stock market.