Monday, March 12, 2012

March Money Madness: Get a Part Time Job!!!

Wishing you all an awesome Monday!

If you know Dave Ramsey and his work then you are aware that "get  a part time job" 
is one of his most famous lines when you call in about money issues.  
I am NOT the most ardent follower of Dave Ramsey and ALL his principles 
BUT i do subscribe to most of them especially the one about getting a part time job.

Courtesy of Dave Ramsey
Dave Ramsey is one of those guys:
you either like him and his money principles and listen to his radio show regularly (Mrs. Pancakes)
OR you find him annoying/hypocrite at times but appreciate his principles and radio show  (Mr. Pancakes)
Or you just don't like him or his principles o his radio or his books.  
He is unconventional. 
 A little rough.  
And just a good 'ole Southern finance adviser that believes in his opinions 
because they are his!

There are seven steps he speaks about regularly called the, Seven Baby Steps
which i will talk about more specifically another day but in the meantime...
i wanted to talk about his other principles 
which i ascribe to and hope will help someone during March Money Madness!

Here are the principles i practice regularly:

1.  Get a Part Time Job
This one i have always done because i have always liked spending money.  
And learned quickly if i wanted extra things i needed extra money |
(which some refer to as their "cake and ice cream" money) hence the part time job.  
BUT when you follow Dave Ramsey, he speaks specifically about 
getting a part time job as a way to make extra money to PAY OFF debts and nothing else. 
Testimony: In 2010, i got a part-time job and was able to pay off my car, 
student loans & credit cards in less than two years.  
There is something about watching your debt decrease 
that increased my desire to work harder, make more money and pay off my debt.  
In between paying off my debt, we were able to pay cash for our wedding and honeymoon. 

2. Use Cash, NOT Credit Cards
Oooh this one was hard!  Dave says to use cash because it hurts more 
when you spend cash versus credit cards.  
With credit cards you don't feel the pain because the money is not tangible.  
When you use cash, you are more likely to be more careful with how you spend it.  
With credit cards, you spend money mindlessly.  
Testimony: I was the queen of using my credit card and paying later.  
Of course, paying later would end up being later and later.  
Let's reminisce for a moment, before i GAVE UP the CREDIT CARDS...
i traveled to Houston one year and spent over $1K on clothes, shoes, bags, jewelry.  
I felt like i was on an episode of What Not to Wear, i shopped so much.  
Oh the fun!!
But it took me forever to pay that money back and the interest.  
One year, I traveled to Europe like three times.
  Ahhh the good credit card days.  
Needless to say, credit cards were killing me and my finances.  
But it really hit home when i realized every time i received extra money from somewhere 
(work, income tax, sale of my condo), i had to use it to pay bills (credit card, student loan or car). 
 That's when it dawned on me...there was so much money i could be saving BUT i was using it to pay off bills.
At this rate, i would never have money IF i am always paying off credit cards.
After cutting up and closing all my credit cards, i have not looked back.
And now when the bank tellers try to convince me to get a credit card, my answer is simply,
 "No Thank you!"

3. Make a Budget
Everyone knows budgets help to keep you on track 
and if you do it diligently and regularly, it actually does.
Testimony:  This one i have NOT mastered as of yet but i am working on it.  
Most months, we have monies that are allocated to things like: 
rent, utitlies, phone, tithes, saving, spending money.  
The most important thing about making a budget is making sure you know what is coming up on a monthly basis and making sure your money lasts until the end of the month.  
This usually works IF there aren't emergencies that occur 
(but that's where your emergency funds comes in, more on this another day).

One has to follow in the principles of Dave Ramsey and his money principles at their own pace.
It took me a long time to become a believer BUT since i bought into's helped me a great deal.
Both Mr. Pancakes and i ascribe to these three principles without fail 
and it's helped us individually and as a couple.

My suggestion, for the rest of March Money Madness 
try one of the following principles:
1.  Get a Part Time Job
2. Use Cash, NOT Credit Cards
3. Make a Budget
 and see what happens with your money!


Alida said...

We are cash outside the states it is not always convenient to use the credit card. Those are great tips!

Lauren said...

great post!

we did FPU by Dave with our Small Group back in the fall and while we don't agree with all of his principles, it has made a huge difference in our money habits!

A budget is so key...we feel like we have so much more money when we have a set budget!

Krysten @ Why Girls Are Weird said...

I learned the hard way about credit cards. I'm STILL paying one off from my early 20's and I HATE it.

I totally agree about using cash over credit. There's something about handing over that paper that just kills you!


I just recently paid off all of my credit cards, thank God they were such a burden.

jacin {lovely little details} said...

perfectly timed post :)

Rose's Daughter said...

Before I had Pookah, I always had a part time job. One year, I paid off almost all of my debt with that second job. I really want another one now, but with Pookah and working nights, it's just not Physically possible for my to hold down two jobs! Sigh.

Heather said...

I'm not familiar with him, but I agree with this advice completely!

Quiana said...

We are huge Dave Ramsey fans and love his concept of the debt snowball. Our church did the Money Makeover and the principles really stuck with us. Having PT jobs has made such a difference in our family and it's inspired me to always have multiple profit centers.

Cam | Bibs and Baubles said...

great post. i have friends who are big on his principles. i'll see what I can put into practice this month!

Sarah said...

love pancakes ... love saving money ... love the ideas!

Delighted to stumble over here today. I hope you don't mind if I splash around a bit to get to know you. This looks like a refreshing place to dip my toes in goodness.


Miss Monica said...

I love Dave Ramsey. He cracks me up. I even have his app on my phone. I follow most of his principle and I have gotten others on the train too.

Anonymous said...

We are really trying to just use cash big time. My husband actually stopped carrying credit cards all together!! =)
Now, I am in the process of looking for a J.O.B. ;)

Babydreams2011 said...

Now see I am on a budget BUT I do have credit card debts (not much) I couuuld have paid all of it off and had money to spare but I used it all on our IVF treatments. We plan on doing the same budget this year except we are putting the money towards our debts so we can only have a house payment as debt by 2013! :-) This was a great post girlie!

Claire said...

Our Money Saving Expert over here is Martin Lewis and i am in. love. with him!! haha!

toi said...

Without knowing about Dave Ramsey's principles, I do must of them. we are cash people. I never owned my own credit card, we have one but it is for our internet purchases but we make sure we have the money before buying. I used to do extra work, but now I don't work but trying to find the way to get little cash in here and there, and budgeting and saving my monthly allowance.

Rod and Alex - aka: "Rolex" said...

These are very wise principles! Rod and I use cash only and are working hard to pay off all of our's hard! But do-able! :)

Nicole Rene said...

Ahhh great tips haha. Maybe I need to check this guy's advice out... ?? Lol..

Sophia Chang said...

Uhhhhh I totally need a PT job! I mean I have one, but it's not very steady or stable. I need one that forces me to leave the house for a set number of hours every day. ARGHGHGHGHGHGH I so don't want to rejoin the desk job brigade lol