Where and how to start your journey towards a more prepared house hold

Part 8

 

Ah yes, debt…..Neither a borrower nor a lender should you be…. Truer words have never been written, especially when it comes to self-reliance and self-sufficiency.

As consumers in this day and age we have been conditioned by the advertising media and social sites, (brain washed perhaps is a better way of looking at it), that we deserve the newest cell phone that is released every year and we can have all the latest and greatest electronic toys and clothes and automobiles if we can just make the monthly payments. No need to wait and save up to buy it, immediate gratification is only a signature away.

If you’re in debt as most US citizens and consumers are, it is possible to get out, but you need a concise plan that is proven to work and you are going to have to change your lifestyle and thought process for every purchase.

A great resource for understanding why debt is so bad and some recommendations for getting out of debt and staying out of debt are Dave Ramsey’s web site and his company’s Financial Peace University Class. http://www.daveramsey.com/fpu/?snid=classes.fpu-b

My wife and I attended the course at our church about 16 years ago and I can honestly say it totally changed the way we look at money and debt. Although we never have purchased a new car, which is abnormal behavior for most of the population, we did have credit card debts and a 30 year home mortgage. The recommendations and teachings that he presented us have enabled us to walk down the path and approach the debt free goal. We are not there yet partially due to unforeseen job loss and a number of life events we’ve faced the last couple of years that slowed us down, but we are still on the path and have small successes to celebrate every month. Ultimately we plan on downsizing our house hold now that my youngest has finished college and with the accumulated equity we will be able to purchase that 5 acres homestead we’ve been looking at with cash. At least that’s the current plan if the real-estate market is vibrant this spring.

http://www.daveramsey.com/blog/25-myths-broke-people-believe

After taking his course, one thing we did was to refinance our first home mortgage, actually it’s a triplex, from the remaining 28 years of a 30 year to a 15 year. I so glad that we did it because as of December 1 2016 it is paid off and the rental income now goes into our pockets and not the Bank of America financial machine.

So why is being debt free so important to us as Preppers. When you think about it, why shouldn’t you go out and buy all the Prepper essentials like a year’s supply of freeze dried food, a new Bug Out Vehicle, lots of guns and ammo and camo and armor and stuff and finance it all? Do you think if the economy collapses or SHTF all debts will be forgiven? Maybe you think an EMP will wipe out all the computer databases and credit history so no one will know what you or anyone else owes to anyone.

Well as a plan that pretty much sucks because what if nothing happens, (the more likely case), to erase that debt and you are strapped with it for years. How much is that going to impact your ability to survive and thrive if times are good, catastrophically I would estimate.

As I have outlined in earlier post, make a plan on what to work on first, what knowledge, supplies and materials you want and purchase them as you can afford them. Buy smart, when things are discounted or on sale and remember used items, everything from cars to clothing and almost everything in between can be purchased way below retail if you look around on Craig’s list, eBay and Goodwill stores.

The Reader’s Digest version of Dave Ramsey’s plan is fairly simple, he puts into baby steps that give you more confidence as you accomplish each one and they are all listed on his site for free so I won’t re-list them here..

Although I don’t know that Dave Ramsey is a Prepper in the sense like many of us are trying to get back to a simpler and more self-reliant lifestyle, I have no doubt that his plans and courses will benefit your family on your journey to Preparedness. Please visit his sites, tank advantage of his teachings and take your life back from the financial system that is designed to keep you as their debt slave.

Time waits for one and the clock is ticking, start now.