Jeramie Posted June 15, 2006 Report Share Posted June 15, 2006 My wife and I recently decided to become financially independent. We want to pay off everything and live by Dave Ramsey’s methods (he is very insightful). We have already agreed to never borrow money again, for any reason. We are working on a real savings account and we are working to pay everything off. The only crippling thing is that we want to get pregnant next year. My wife would then quit after the second baby is born (We already have an 8-month old girl). Personally Id rather my wife continue to work now, pay everything off quicker and with less stress, and then quit and spend time with the kids when they are old enough to truly remember mom being at home. Regardless, here is where we lead up to the point in this post. My wife has a great education (bachelors in Business Admin and Marketing with an emphasis on family owned and small business, and just 3 hours from a minor in Psychology from the University of Tulsa. She also tested for her series 7 and can sale stocks, bonds, insurance, life insurance, etc.). She applied at the post office and with her education and a local contact (friend of my wifes) she got her foot in the door. She has done the formal interview for several of the offices in the area. All were far to long of a drive for her to make. She has continued to go on interviews to stay in good favor and such. She has also been put on a list of the 12 most likely to hire in the area. She received an offer to interview in Commerce, OK. To far to drive, again. She was filling out the formal denial when she found where she was offered an interview in Pryor, Ok! The post office is roughly 10-12 miles from our front door! The starting pay is $18.72 an hour on a 32 hour week. She is currently making $13 an hour at her vet clinic and gets paid Salary (basically, no OT and fixed hours). She would get benefits, which would save us more money as we pay her insurance and such through my office. We could literally save roughly another $100 a month. If my wife lands this job she wants to work several more years because of the way the post office pays. The income would last instead of ending in roughly 20-24 months! We could pay off everything MUCH quicker. Based on my wife’s income we would actually bring in roughly $800-$1000 more a MONTH. I hope and pray this happens. It would open such a door! Within a few short years I could actually go pay cash for a new quad and never hesitate. For the first time in our lives we could actually be debt free. We are even talking paying off our house within 10-15 years and that’s if she doesn’t get the job with the post office! Can you imagine?!… Lord God, grant us favor. Quote Link to comment Share on other sites More sharing options...
hutchies Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! No doubt, Dave Ramsey is awesome. I do feel there are times where you have to borrow money. Mainly buying a house but for small things you are right. Quote Link to comment Share on other sites More sharing options...
Texan_Til_I_Die Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Never heard of Dave Ramsey, but I have operated for many years on the "if I can't pay cash for it, I don't need it" principle. Being debt free is definitely a stress reducer. Quote Link to comment Share on other sites More sharing options...
Jeramie Posted June 15, 2006 Author Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Check out Dave Ramsey. He has a radio show (Which ive never heard). People just told us about him. My wife's dad bought the book and my wife read it. Dave went from Millionaire to poor as dirt to Millionaire again. He is also a really good Christian. Quote Link to comment Share on other sites More sharing options...
hutchies Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Have you heard him tell the story about him buying a Jaguar and driving it out to his uncle's farm. His uncle as what that was. Dave told him a Jag. He asked him why he bought it. Dave said As an investment. He said his uncle just looked at him, shook his head and said "Boy, my investments make money". Dave later come to realize how right his uncle was. Quote Link to comment Share on other sites More sharing options...
Jeramie Posted June 15, 2006 Author Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Nope, did hear that. Makes sense though. Dave really has his head on his shoulders. The funny part is that you really dont have to give everything up. You just have to wait for some stuff and use the money you have wiseley. I figured all this time we were doing well... Wrong. This is going to make life a lot easier! Quote Link to comment Share on other sites More sharing options...
jbeck Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! I was dept free for 3 weeks. LOL It was great, I now have to pay off the ground and the adoption, and I should be there again in 8 years. Good luck Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Hope it all works out for the best for you and your family Jeramie. We made a little bit of sacrifice getting our house and land paid off, but that has been huge for us. We will never borrow money that we cannot pay back without paying interest ever again. I do use credit cards, but never carry a balance. If everything works out like it is supposed to, we are sitting about two months away from my wife moving into a higher position that will put her income close to what our combined income was before I resigned from my job. That will make a huge difference for us. She took a bit of a step back, to have an opportunity to take a good step forward with a different employer if that makes sense. When you start figuring in daycare costs on more than one kid into the picture, makes good sense sometimes like in our situation for one parent to stay home with the kids. Quote Link to comment Share on other sites More sharing options...
popgun Posted June 15, 2006 Report Share Posted June 15, 2006 Re: Oh Praise The Lord! Congratulations Jeramie, on your endeavors to become debt free. It is a very good move on your part as well as your wife and family. Reading your post however; I must admit to a little confusion on my part. You said, "Regardless, here is where we lead up to the point in this post. My wife has a great education (bachelors in Business Admin and Marketing with an emphasis on family owned and small business, and just 3 hours from a minor in Psychology from the University of Tulsa. She also tested for her series 7 and can sale stocks, bonds, insurance, life insurance, etc.)." I'll admit, there are more and more well educated people seeking employment with the USPS, but I can't help but wonder why? Why go to all the expense and time to get higher degrees and a great education, to work at the Post Office? Sometimes a college education is practically worthless unless the recipient of the degree is willing to move to a location where the degree is needed. I graduated from high school and had a little college under my belt, as well as some time in the military before I went to work for the Post Office, but all that is required is a high school diploma and a willing to work. If your wife really wants a "career", I would suggest you move from the big city of Pryor,OK area, to OK City, or be willing to commute. A career in the Post Office works well for some of us that never got the needed education to do otherwise, but your wife will be bored to tears with a job where there is no way she will ever be able to work her way up the ladder of management. I personally think the Post Office is a terrible waste of her good education, and abilities. Just my opinion....Good luck in whatever you both decide to do. ....popgun Quote Link to comment Share on other sites More sharing options...
Jeramie Posted June 15, 2006 Author Report Share Posted June 15, 2006 Re: Oh Praise The Lord! I dont disagree 100%. Honestly, this whole situation is confusing. She had a full ride to several different colleges including OU, OSU, NSU, University of Arkansas, etc. She chose to go to TU and put us in School loan debt. She then tried to sale stocks and bonds, insurance, etc. for her first full blown job. It bit her bad and literally cost us 16k. Its a tough market. She had to sit across from a teacher up to their neck in debt, with only a few dollars in their pockets, and try to talk them into buying insurance, etc. The company she worked for was horrible. She could easily drive to Tulsa and commute like I do every day from Locust Grove. Honestly, pay isnt that great much of anywhere right now unless you start toward the top of the ladder. Because she wants to quit in a few years (no more) and just be a mom, her taking on a drive to Tulsa (45 miles) with ambition of moving up would be pointless. After a couple of years she would quit and youve waisted everything. She is very worthy of a real carrier. Its just not what she wants. I have told her that if we pay off a lot, and I mean a lot, of stuff she can quit. I honestly have no problem with it but we need to be free as possible first. If she were to work another 5-years we would be in GREAT shape. She wants to quit now. Getting this new job even for say 5-years will be an imediate increase in our income. If she were to take a job in Tulsa it would have to be a HUGE increase. Im paying $10 a day right now driving a small car. That adds up expecially when youre talking $20+ for the two of us. Anything near $18 an hour around us is great, 10-miles from the house is almost unheard of unless youre a guy and up the ladder on one of the plants in the industrial park. As far as moving, that wont happen. I have a 60k+ offer in Lowell. Id move to Fayetville but we both have family right here. Its hard to move even the hour drive. This is a great opertunity for us to get ahead soon without making any real changes. Quote Link to comment Share on other sites More sharing options...
archerjg Posted June 16, 2006 Report Share Posted June 16, 2006 Re: Oh Praise The Lord! Good luck in getting everything paid off. I hope to have everything I owe paid off in four years and be able to get a house and go back into debt. Archerjg Quote Link to comment Share on other sites More sharing options...
jjones Posted June 16, 2006 Report Share Posted June 16, 2006 Re: Oh Praise The Lord! congrats!!! Quote Link to comment Share on other sites More sharing options...
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