The Wagon Staplers

As a teacher, counselor, and speaker, I am able to teach personal finances to thousands of people each year.

One of the hardest things for me to see is those "who fall off the wagon."

These are the people who get PUMPED UP to start winning with their money.  They put together a written spending plan, calculate their Debt Freedom Date, and tell everyone they know that they are getting out of debt.

Flash forward three months.  The written spending plan has been trashed and is not updated.  The Debt Freedom Date has been stored away.  They hang their heads saying, "I guess we won't be able to win with money."

That hurts my heart!  It makes me want to cry!  Why?  Because I KNOW that the tools I teach WORK!  I am living proof!  I was able to break free of debt.  You can do it too!

I don't know all of the reasons that cause a person to fall off of the wagon, but I am here to tell you that YOU CAN WIN WITH YOUR MONEY!!!  You CAN do this!

Pull out the WAGON STAPLERS – your monthly spending plan and debt freedom date calculation!

Go to the FREE TOOLS page and put together a spending plan for the rest of this month.  Update that Debt Freedom Date Calculation!  Print it out and put it on the refrigerator!

You CAN do this!

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  1. Saving Freak on November 15, 2007 at 6:07 am

    I just wanted to echo what Joe said here. Everyone can win with finances. It only takes the ability to add and subtract moderately large numbers and the will power to see it through. If you feel like you lack the will power it is time to get a friend or family member involved that will hold you accountable. Just keep working the plan and you will make it.

  2. Chris on December 1, 2007 at 11:36 pm


    I’ve often wondered what is the chief cause of the “drop out” factor. Like you, I know the plan will work well enough to keep you debt free. But there are so many people coming forward to fix their debt problems, only to give up and throw in the towel. I’ve seen it happen after a few weeks, months or even after a few years.

    I know you are a Ramsey fan. I too have learned much from him. And while he touts his snowball method as a behavior changing mechanism, the attrition rate suggests differently?

    I’ve really wondered the percentage of people who start and stay with Dave’s or any other plan and how those plans stack up against each other in retaining people to their respective plans. I even wonder if they track or even attempt to track retention.

    I have seen on some forums that those who become debt free do tend to become discouraged during Baby Step 3 and beyond. Most of it is due to realizing that their showballs will be being eaten by retirement savings and sinking funds for repairs (often put off while in intensive debt paying mode and now coming home to roost) and replacement funds.

    The undertone of so many of these programs (including Dave’s) is wealth is available by becoming consumer debt free and the wealth is too often inferred by the guru and understood by the recipient as returning to a pre-debt payoff lifestyle or better not very long after debt payoff takes place. Dave and other debt and wealth writers and radio hosts need to present a positive picture without overstating the results. Even those who follow in Dave’s TMMO footsteps will not enjoy his lifestyle, yet it is often held out as the reasonable possibility.

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