Dave Ramsey’s Principle: Paying Cash for a Car

Craig and I are currently taking a Dave Ramsey class at church.  For those of you who don’t know, Dave Ramsey is a Christian millionare who is well known for his seminars about becoming debt free and “living like no one else”.  Now, Craig and I have been blessed to not get involved with the credit card scams and such,  but we still have debt.  We have his car to pay off, and our house.  I’d say that’s pretty good for a couple married less than two years.

However, after talking to our class coordinator, we’ve decided not to put everything into paying our debt.  Because we have a baby on the way, we have expenses most other people don’t have.  And we feel we need to be saving as much money as possible for and unexpected expenses that come our way.  Therefore, we are still paying off our debt, but we are not overpaying it like Dave says we should be.  But that’s okay.  It won’t be long before all we have left is the house payment.  And we feel at peace with where we are with our finances.  And we have a hefty nest egg saved up if issues arrive during my pregnancy/delivery.

Anyway.  One of Dave’s big things is not to get in debt over a car.  We do, however, desperately need a new car for me.  My little Kia just isn’t safe enough or reliable enough to be carrying our baby around with all these crazy drivers.  And so, when we realized we were pregnant, we started saving for an SUV.  And I am happy to announce that with our tax returns and the trade in on my car, we have enough to pay CASH for an SUV!  How amazing is that?!

So I may have a car soon.  Hoover is advertising their vehicles for 50% off.  If this is the case, I will be getting a new 2008 Jeep Compass within the next month!  If this isn’t true, we’ll be getting a used Saturn Vue or Honda CRV as soon as his uncle can find us a good one.

The big reason I’m excited for an SUV right now:  I’ll no longer have to pull my pregnant self out of my car!  I can just hop down. 🙂

Oh how the little things make me happy!

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One thought on “Dave Ramsey’s Principle: Paying Cash for a Car

  1. We’re all about Dave Ramsey too 🙂 We don’t own any credit cards and haven’t for like 5 years!

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