Home Forums Hunting & Shooting Hunter's Campfire Dave Ramsey's First Baby Step - Save up $1000 Emergency Fund

Do you know someone who just can't seem to be able to save up a thousand dollar emergency fund? Saving up a thousand dollar emergency fund is step one of the 7 Baby Steps to get out of debt and prosper.

30 Ways to save $1000

Having a few Ks saved and handy sure lessens the emergencies in life.

Dave Ramsey's a good man and sure helps a lot of people! We got out of debt by utilizing a budget and paying bills very much like Dave Ramsey recommends, just did it before I'd heard of him. I still love to listen to his radio program today because it's very inspirational and helps remind me of where we came from.....

I enjoy listening to Dave

His concepts really new and cutting edge

Live on less than you make
Save some money
Don’t buy stuff you can’t afford

Crazy.....

Last month, I turned around in his parking at DRS in Cool Springs right off I-65. He moved about 2 yrs ago from Brentwood just a couple miles up the road


Good grief I bet he has 1000 people working for him. Parking lot looked like one of the airport out-lots

It’s good to have a few thousand saved. Good guns come along sometimes

I agree, but it's not "new and cutting edge". Bruce Williams was talking the same general plan on the radio 30 years ago.
I listened to him driving big rigs in the middle of the night. He helped me invest in the future just like Dave Ramsey.

Hey Tiger..........

(Bruce Williams)

I thought of Bruce the other day,
deli had Pork Roll on sale.

(Nasty stuff) I liked Bruce.

I already do almost all the things on that list and I've never read Ramsey's book. Most of it's just common sense and stuff that's practiced naturally by poor country folks who were raised to be frugal and practical. Those things are the reason I've never in my life financed a car, had a credit card or financed anything other than my home, despite the fact that I've never made much money. Everything is cash and if I don't have the cash I don't buy it period. I don't believe 1000.00 is enough of an emergency fund these days. I always try to keep at least 3k in mine and that's in addition to my regular savings account.

I work in a factory. Bet 50% have filed bankruptcy and not been without a paycheck.
Most take off work anytime a bonus comes along, so they make the same as if working reg.
They bank nothing.
Drive new cars, eat steak for dinner...........and they cry when the manager won't let them work Sundays (double time).

$1000 is the starter emergency fund. He recommends 3-6 months expenses for fully funded emergency fund in step 3. Step 2 is paying off al debt except the house and that’s where most people struggle

I can't remember if Ramsey said it or someone else, but it's 'if you have to finance a car for more than 3 years, you can't afford it'. These days 5 year loans are very common. People don't add up how much interest they pay during that time. Even at 3 or 4%, it's a lot.

Lol, no, Ramsey didn’t say that.

I like listening to Bruce Williams, he was a good egg. Bob Brinker introduced me to the idea of achieving “critical mass”, or not having to work anymore. Dang it if I didn’t get there, and dang if am not still working just as hard...... having too much fun to quit.

The moral of the story is that it’s good to have goals and a plan to get there.

I gotta wonder...........................how many tats do I have to forgo to save up that $1000?

Geno

PS, I try to finance cars at 0% like the "new" one we have now. Why not use Toyota Financial's money to get my wife a newer vehicle instead of eating into our cash?

[quote=Valsdad]I gotta wonder...........................how many tats do I have to forgo to save up that $1000?

Geno

Only 2 or 3 if you have a good artist! 😉

Sometimes, a 12 month same as cash can make sense on an unexpected emergency expense. Did it on tires once. Paid it off early.

Jeezus.....I am so sick of hearing about this fuggin guy.



Piss on him......I might just go broke to spite him.





Dave fuggin Ramsey. I bet the caksucker has a book he will sell you.......

I'm not sure his books are pertinent to MT farmer/rancher economics.

Geno

Well....just as long as no one accuses me of overreacting..........