Prepper Forum / Survivalist Forum banner
1 - 11 of 11 Posts

·
Registered
Joined
·
1,829 Posts
Discussion Starter · #1 ·
http://www.daveramsey.com/article/mortg ... realestate

Highly recommended by Survival. Click the "launch calculator" to start the process. Play with the numbers from a 15 year loan to a 30 year loan to see how much interest you are going to save in a shorter time frame.

Also, there is a place to put in how much extra you are going to pay per month. Put $100 for each month (for the principle) and see how much interest it cuts off your loan as well as see how much faster you pay the home off. Wonderful stuff! Oh, and I highly recommend Dave Ramsey's books!
 

·
Registered
Joined
·
1,595 Posts
Toyota liked Dave Ramsey ideals enough that they made a special deal and all their employees could buy his package for $25 dollars. Many purchased the package and put it on E-Bay and made $75 dollars. But there were several that used it like the bible and worked toward paying off their homes and credit cards it seems to have worked out well for them. Two people that I worked with were in their mid 30 when they paid their homes off by working a lot of overtime and putting that money toward their homes instead of a fancy new car.
 

·
Registered
Joined
·
21,643 Posts
Did not need Dave Ramsey to figure out how to pay the houses off.
Covered that some time back.
 
  • Like
Reactions: inceptor and Ripon

·
Registered
Joined
·
4,373 Posts
When our business closed I sold everything that wasn't nailed down and didn't shoot to pay off my mortgage. If I'd had a big monthly payment with no income I'd have really been screwed. Not having a mortgage has made life so much easier - even with modest income I can save, prep, and invest.
 

·
Registered
Joined
·
438 Posts
http://www.daveramsey.com/article/mortg ... realestate

Highly recommended by Survival. Click the "launch calculator" to start the process. Play with the numbers from a 15 year loan to a 30 year loan to see how much interest you are going to save in a shorter time frame.

Also, there is a place to put in how much extra you are going to pay per month. Put $100 for each month (for the principle) and see how much interest it cuts off your loan as well as see how much faster you pay the home off. Wonderful stuff! Oh, and I highly recommend Dave Ramsey's books!
The only disagreement I have with that is that with the lower required monthly payment on a 30 year, if you pay the same amount as you would on a 15 year, your payment hits more principle.

It depends on context and discipline to me. I'm sure for some people, a 15 year mortgage is better because it doubles the pressure each month. If you're self disciplined, you could probably pay off a 30 year mortgage faster than 15 years with double payments.

But generally I do agree with Dave Ramsey... I just wish I wasn't 99% of the way into graduate school debt before I figured it out!
 
1 - 11 of 11 Posts
Top