This is a concept, or end result if you will, of following Dave’s plan. The thing about this is I have always thought of it in the sense of creating habits and wealth where your children do not repeat the mistakes of your past, and they never have debt.
In our journey to date, it has been exciting to see my children (ages 5 and 3) understand what debt is and how evil it is. They know exactly what a credit card is, and if you find yourself using one in front of us in line, you will know how “naughty” that is. Jeremiah even draws pictures of the things we are going to do when we get out of debt. See them here.
The exciting thing that had never occurred to me was the ability to change the other side of your family tree. When my brother called to tell me he had read The Total Money Makeover in just two days, I knew that he was a changed person. My mom, my sister, and soon my older brother are all on the same route. It is amazing what can happen if you decide not to be normal!
My husband read the book in 2 days too. Me, a little over a week. My husband was IMPRESSED that I read it. I am NOT a book reader (read newspapers, magazines, or online blogs/stories, but just NOT a book reader) So for me to sit & actually READ TTMM was pretty impressive.
I cut up my credit cards the other day. I still have one but don’t use it. We have ALWAYS paid the full balance every month, so no cc debt. Anyhow, I have always applied for dept store cr cards so I’d get that extra discount or whatever. So I had a few of those in my wallet that I only used once & so cut them all up. My kids (8 & 5) came home from school & saw them on the counter & put them back together for me. Said “mom we put the puzzles back together” I then told them what I did. The next day my 8 yo son came home from school & said that he told his teacher that I cut up my credit cards. His teacher asked why? Son said “cause we are on a Financial Makeover” I have a feeling she thinks I have a credit card problem!! It was pretty funny and a little bit embarassing too!
Comment by Lisa — January 19, 2007 @ 11:12 pm