Comments on: Maintaining Inspiration for a Debt Free Life http://www.lifescapeartists.com/maintaining-inspiration-for-a-debt-free-life/ Living life on your own terms Fri, 07 May 2010 16:35:31 +0000 http://wordpress.org/?v=2.9 hourly 1 By: David Rendall http://www.lifescapeartists.com/maintaining-inspiration-for-a-debt-free-life/comment-page-1/#comment-379 David Rendall Sat, 27 Feb 2010 02:58:13 +0000 http://www.lifescapeartists.com/?p=335#comment-379 Great post! We are hosting a Dave Ramsey course at our house on Monday nights. My wife is actually watching one of the DVDs right now. I think my inspiration for a debt-free life is having more control over what I do. I also want to avoid the catastrophe of losing a job and having no savings. Finally, I want to be generous with my money and also have freedom to travel and explore. David Rendall Great post! We are hosting a Dave Ramsey course at our house on Monday nights. My wife is actually watching one of the DVDs right now.

I think my inspiration for a debt-free life is having more control over what I do. I also want to avoid the catastrophe of losing a job and having no savings. Finally, I want to be generous with my money and also have freedom to travel and explore.

David Rendall

]]> By: Eric Watermolen http://www.lifescapeartists.com/maintaining-inspiration-for-a-debt-free-life/comment-page-1/#comment-335 Eric Watermolen Thu, 11 Feb 2010 23:39:51 +0000 http://www.lifescapeartists.com/?p=335#comment-335 Gilbert - I'm glad you liked it and happy you found inspiration from my inspirations. ;) Lunachance - That is top notch advice for anyone planning to be a stay-at-home parent. That's roughly what we did, but instead of banking it, we paid off debt. If you could get the debt cleaned up first, then bank it, holy smokes you'd be in great shape. Thanks for sharing this great advice. Gilbert – I’m glad you liked it and happy you found inspiration from my inspirations. ;)

Lunachance – That is top notch advice for anyone planning to be a stay-at-home parent. That’s roughly what we did, but instead of banking it, we paid off debt. If you could get the debt cleaned up first, then bank it, holy smokes you’d be in great shape. Thanks for sharing this great advice.

]]> By: Lunachance http://www.lifescapeartists.com/maintaining-inspiration-for-a-debt-free-life/comment-page-1/#comment-315 Lunachance Fri, 05 Feb 2010 01:14:53 +0000 http://www.lifescapeartists.com/?p=335#comment-315 When families think they are going to have one parent stay home with the birth of a new baby, I suggest they practice living on one income. Two years before the baby will be due, have the parent who will be staying home start saving 50% of their income. After six months, increase the savings to 75%. Now, you are a year before the baby will come (yes, you are not pregnant yet, but you are learning to live on one income) and one income is now being banked at 100%. Just think of it, you will have quite a nest egg saved and you will not even be pregnant. Once the baby is born, the nest egg should allow the new family to live quite comfortably until the baby is in school full time. This plan is not too hard to understand, but when people do not practice living on one income, they are shocked at the difference in income when one parent starts staying home -- but the family is still used to spending a lot more money, so they "cannot make it on one salary." I little planning would have allowed them the "luxury" of raising their own child, instead of sending the infant to "daycare" and spending too much effort just paying for the childcare. Just my two cents, Lunachance When families think they are going to have one parent stay home with the birth of a new baby, I suggest they practice living on one income. Two years before the baby will be due, have the parent who will be staying home start saving 50% of their income. After six months, increase the savings to 75%. Now, you are a year before the baby will come (yes, you are not pregnant yet, but you are learning to live on one income) and one income is now being banked at 100%. Just think of it, you will have quite a nest egg saved and you will not even be pregnant. Once the baby is born, the nest egg should allow the new family to live quite comfortably until the baby is in school full time. This plan is not too hard to understand, but when people do not practice living on one income, they are shocked at the difference in income when one parent starts staying home — but the family is still used to spending a lot more money, so they “cannot make it on one salary.” I little planning would have allowed them the “luxury” of raising their own child, instead of sending the infant to “daycare” and spending too much effort just paying for the childcare.

Just my two cents,
Lunachance

]]> By: Gilbert Ross http://www.lifescapeartists.com/maintaining-inspiration-for-a-debt-free-life/comment-page-1/#comment-304 Gilbert Ross Tue, 02 Feb 2010 21:24:09 +0000 http://www.lifescapeartists.com/?p=335#comment-304 Eric, This was truly inspiring. Very informative and encouraging.This article came at a very opportune time for me. Gave me a lot of ideas. thanks! Eric,

This was truly inspiring. Very informative and encouraging.This article came at a very opportune time for me. Gave me a lot of ideas. thanks!

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