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The first
book that became life altering for the both of us was Financial
Peace, by Dave Ramsey. My father gave it to us as a Christmas
gift and it came at just the right time. We were already trying to
spend less and consolidate our debt and had put our budget on computer,
but this book gave us a map and the principles to financial freedom.
It gave us simple and easy to understand concepts about money and
debt. Our first goals were to live completely within our means, save
up a six month reserve of our living expenses for an emergency fund,
cut up our credit cards, and to not borrow any more.
It was hard at first and did take some adjustment. However, within
six months we were able to print out reports from our personal accounting
software that showed our debt slowly going down, and our savings account
with our emergency fund almost in place. This gave us the excitement
and energy to commit to the plan and within another twelve months
we payed off a few more loans, bought our first used old boat (just
fast enough to pull us skiing) with cash and decided to start looking
for our first house to buy.
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