I listen to the Ramsey podcast. Pretty much every episode has at least one person/couple doing their "debt free scream" live and telling their story how they did it.
"Just remember.." wants to talk about how "the reality is".
Let me tell you what my reality is.
I am single. One paycheck in my household. I have never had the luxury of a spouse bringing in a second paycheck.
I don't have a car payment. My parents gifted me a car when I graduated college. I have been teaching for more than a decade (closer to 15 than 10 now) and still drive it. Great, reliable car. I have never and will never win any prizes for "nicest car in the teacher parking lot" ever in my life. But I'm also not spending $500 a month (the average monthly car payment) on a car. I have cash to buy another one when my current one dies, but I am content with what I have because it gets me from point A to B. If a new college grad has a car payment sucking money out of their account, they can sell the car, buy a cheap reliable one like mine for cheap, and keep that payment in their account.
I cannot imagine anyone who insists on a $100-$200 clothing budget every month. Does anyone really do that out of necessity? Do you play rugby in your work clothes? I have shirts that I have worn for years. They still fit, don't have tears, and I don't subscribe to the belief that you have to replace your wardrobe every year. $1200-$2400 a year on clothes??
I had no credit card debt upon graduation. I taught private lessons and if I didn't have the money to buy it, I didn't buy it. There are plenty of college students who work during their college years and summers as well. They graduate with no debt, be it credit card or student loans. So much for your "simply absolutely unrealistic" theory.
I max out a Roth IRA annually (max is current $6K) in addition to my mandatory TRS contribution. Have been doing so for nearly a decade. Sometimes I kick myself for not starting it sooner, but my first year of teaching I literally had nothing in the bank account until that first teaching paycheck came in. I lived in an apartment. I ate at a folding card table and had some folding chairs to sit on. I suppose I could have racked up debt buying furniture, but I was content with what I had as a first year teacher.
I am a homeowner. Made a 10% down payment on a conventional loan several years ago. Took advantage of the current mortgage rates and went from a 30 year note to a 15 year. Plan is to pay it off in 10 years or less.
So if you are in debt, the only "COMPLETELY" out of touch person is "Just Remember.." Don't listen to someone like that. I'm not saying you have to do the "Dave Ramsey plan" and that's the only way, but you should consider that people call in to his show EVERY DAY talking about their debt free journeys. Don't take my word for it. Listen to the podcast. Listen to those people's stories. Listen to other teachers' stories. You can do it. Don't listen to naysayers.
Responses are not allowed!