Advice from Nashville's Financial Guru Dave Ramsey
Dave Says
By Dave Ramsey
Author of Financial Peace and The Total Money Makeover
5/21/2006
"How did Dave save up for his current home?"
Dear Dave,
How did you save up the money for your current home? I’ve heard the story of how you lost it all and then rebuilt your life. It’s amazing, but it seems almost impossible to save up enough money for a house, especially if you’re married and have kids.
Brian
Dear Brian,
It’s really simple. We just drew a line in the sand and said we’re not living in debt for the rest of our lives. We sold our previous home and moved into an old rental house we both hated. Then, we paid off our debts with the equity from the sale of the house, started saving piles of cash and we did that for many years.
We didn’t quite pay cash for our current home, but we got really close. We had a very small mortgage for about six months. That’s the truth of the matter, and that’s how you do it. Get out of debt and then save, save, save!
- Dave
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