Saturday, June 11, 2005


Friday's (2005-06-10) episode of Dave Ramsey's radio show (archives) started off with a caller named Justin.

Justin (age 29) and his wife (age 30) live in Birmingham, Alabama. They called to tell Dave that they'd just finished paying off the last of their non-mortgage debts. "How much was that?" Dave asked.

Oh, just a tad: $132,000. "There's some school loans in there," Justin offered.

Dave: "Man! How long did it take you to pay a hundred-and-thirty-two grand?"

Nine months.

Dave: "What do you make? Like six hundred thousand?"

No, Justin's wife is a new doctor who started up a practice. Their income is "six figures, for sure," Justin said. They're driving 13-year-old cars, and living in a home financed for 15 years at a fixed rate. It's a "very modest" home, Justin said, bought just so they could afford to flush all the other debts quickly.

Assuming that nothing funny is going on there (and there might well be), I will just come out right now and say that Justin's and his wife's accomplishment is freakin' impressive.

Listeners will undoubtedly counter, "Yeah, but they're making six figures!" I don't much care. Justin's household makes six figures, and they paid off six figures' worth of debt in under a year. I make five figures, and it took me much longer than nine months to pay off my five figures' worth of debt.

Income does matter. But so does determination.

Just another anecdote to add to my "Don't tell me it can't be done" notebook.

— Posted by Michael @ 1:22 PM


All our modern terminology,banking and finance or mortgage may carry different tags.Even the cards,the schemes have different names.But ultimately how good it seems,it is not about charity or even at the rate of cost of doing it.We are rather moving to the old barter system days in the name of complicated linguistic jugglery.Stay happy today to be sad tommmorow.Who know future after all.By the way way what is the gain of financial institutions in mortgages and other items? Is it leading towards a merger or self acquistion?


Pull one for advertisement and the story will flow.Similarly the coin has other sides too.


I got a lotto in net.Isn't it a big thing that too USD 12 million.I received confirmatory mail too.But alas,the last enquiry mail solicited no reply and I could know it was a big hoax.But no question ever asked to any one.There lies technology.Charity in millions and billions,and ways to make money that is the only ultimate message that comes now a days in any one's mail as if the sender is a billionaire and recepient is a begger or do not understand anything.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]