Finding Financial Peace: A Testimony
- Dave Ramsey Financial Peace University
- 2012 7 Jul
Editor's note: Patrick and Loree Grose hail from Norman, Oklahoma and have one teenage son. This is their story.
Why did you get involved with the Dave Ramsey program? To save our marriage and get control of our money.
What was your beginning debt amount? $85,000.00
How much debt have you paid off? All but the house!
What Baby Step are you on? 4
When did you start the process? June 2007
Have you completed Financial Peace University (if so, what year) and/or read the Total Money Makeover? FPU in 2007, TMM in 2006.
How did you hear about Dave? Friends
Did you follow Dave’s steps in order? Yes
How did you get into debt? ("Stuffitis"? Keeping up with the Jones'?) Not being on the same page the first 16 years of marriage. Not budgeting. Loree had a failed home-based business endeavor and racked-up hidden credit card debt. Living beyond our means!
Did you sell stuff to get out of debt? Had our first ever garage sale and made $600!
What sacrifices did you have to make while getting out of debt? No vacations. Didn’t go to any out of town OU football games, even OU-Texas, BOOMER SOONER! Limited eating out and entertainment outings.
When do you plan to be out of debt? Including the house? Or, how long did it take to pay it off? Took us 2 years, 5 months to pay off the debt. We had to cash flow some medical issues, which slowed us down a little. House should be paid off in about 10 years.
What problems did debt cause in your life? Marriage? Almost led to a divorce. Drove a wedge between us, with limited communication. Physical illness from the stress.
Are you and your spouse on the same page with money now? Most definitely!
What’s your favorite Dave phrase? “Debt is normal, be weird”
How do you feel about your financial future? Extremely positive and in control!
Do you have an interesting story you’d like to share? (i.e. did you get a great bargain on something; did an emergency come up that you were able to pay cash for? Have you been able to help someone financially? Etc…)
It was pretty much slow and steady, but we had some medical issues come up during our debt snowball that we were able to cash flow our part of the bill. It was pretty cool to not have to stress about putting our expenses on a credit card or have to work out payment arrangements with the medical providers. We just had to slow the snowball down, pay cash and then rev the snowball back up. It made it a little frustrating as we hoped to have Baby Step #2 done in under 2 years, but it didn’t prevent us feeling ecstatic when we sent Capital One their final payment!
One final note, since going through FPU in 2007, my wife and I have facilitated 4 classes at our Parish and love doing this. It helps keep us grounded and focused on our plans. I want to give a huge thanks to Marshall, who’s always helpful when we have any questions or need assistance.
Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 5 million listeners each week on more than 500 radio stations. Follow Dave on Twitter and on the web at daveramsey.com.
Publication date: July 23, 2012