Saving $$ and "Gazelle Intensity"

[kaitlyns.mom]

Has anyone here used Dave Ramsey's concept of "gazelle intensity" to save up for a big purchase?

Our issues with our rental (and the ones we had at our last rental) have just made me more determined to buy a home. We don't want a lot of house - we are in 1500 SF now and that feels almost too big to me :o - but the COL here is so very high that even a small single-family home will be pricey. We can afford the mortgage payments and insurance but we need to save a lot for a down payment. I am feeling motivated but I'm wondering how far to take it. Anyone BTDT? Advice? How lean did your budget get?

[Mermanaid]

You can go as intense as you want to! But, I will say that you need to be sure to give yourself some flexibility and room to blow off a little steam here and there. Otherwise, you may just fall off the wagon.

We went fairly intense to the extent we tracked every penny and did not spend if it wasn't in the budget. But, we also did a bit of a larger "blow" budget so that after three months on the plan we had a few hundred dollars in play money to go buy a new pair of shoes or something like that ... totally off the cuff and not planned.

I would have gone crazy if I did not feel like I could go out and buy a new shirt or something like that if I had decided I needed it.

Also keep in mind that DR says that in some cases renting is okay and can be better for you. I remember reading the tenets of the idea on My Total Makeover web site but can't remember off the top of my head.

[jerseygirl07067]

I will say we are taking that approach to getting our emergency savings acct where it needs to be. I have read Dave Ramsey's book and am also a fan of Suze Orman, who recommends at least an 8 month emergency fund.

I have to laugh just before I posted this, my DH just cut my hair. We learned how to do the layered cuts on youtube and now I cut everyone's hair in my family and save a ton! And this comes from someone that used to regularly spend a ton of cash on my hair. :)

What has helped immensely is using the cash only system. Everything we buy, with the exception of gas (for convenience at the pump) is with cash. I've been wanting to do this for years, and DH has been resistant. Then one month when he was in charge of grocery shopping (and unemployed) he spent over $1000 on groceries. I nearly crapped my pants. I said that's it, we're going cash only, and I had the leg to stand on, since I was the one working, lol. We we are both very glad we did it. We spend significantly less since you really feel it when you have to fork over the money in cash! Had we done this sooner we'd probably have a lot more in savings!!

Aside from cutting the budget, every little extra check, bonus, refund, rebate, goes into savings. The money really adds up!!!

We have been pretty lean in our budget, what has helped us not to blow it is to have a small amount in there for entertainment/eating out just so we feel like we get some enjoyment once in a while. It is not a large amount, but for us to sustain keeping this budget we have to allow a bit of fun. :)

[Uno-Mom]

We're making huge progress! We've made a few modifications based on our career specifics but we'be found the DR strategies true to human nature. It has really forced us to mature and we're by no means perfect!

We do have some big cultural and faith differences from DR, but so do a big percentage of people who find his teachings helpful.

I recently found a DR board (not his official one) that has a really great vibe. There are people at every stage of the plan, from utterly impoverished to quite wealthy. PM me if you'd like info for that board.

[kaitlyns.mom]

You can go as intense as you want to! But, I will say that you need to be sure to give yourself some flexibility and room to blow off a little steam here and there. Otherwise, you may just fall off the wagon.
This is good advice, thank you. :) I dug around a bit for DR's advice on renting but couldn't find it. I'll keep looking. I know sometimes renting makes sense, but I really long to have a house we can work on together. I want the freedom to make choices about paint, and refinishing cabinets, etc. I am a DIYer at heart and I just feel stifled sometimes.



I have to laugh just before I posted this, my DH just cut my hair. We learned how to do the layered cuts on youtube and now I cut everyone's hair in my family and save a ton! And this comes from someone that used to regularly spend a ton of cash on my hair. :)

What has helped immensely is using the cash only system. Everything we buy, with the exception of gas (for convenience at the pump) is with cash. I've been wanting to do this for years, and DH has been resistant. Then one month when he was in charge of grocery shopping (and unemployed) he spent over $1000 on groceries. I nearly crapped my pants. I said that's it, we're going cash only, and I had the leg to stand on, since I was the one working, lol. We we are both very glad we did it. We spend significantly less since you really feel it when you have to fork over the money in cash! Had we done this sooner we'd probably have a lot more in savings!!

Aside from cutting the budget, every little extra check, bonus, refund, rebate, goes into savings. The money really adds up!!!

We have been pretty lean in our budget, what has helped us not to blow it is to have a small amount in there for entertainment/eating out just so we feel like we get some enjoyment once in a while. It is not a large amount, but for us to sustain keeping this budget we have to allow a bit of fun. :)
Thank you, this is all great info. I love that you cut each other's hair! :bighand: I used to trim DH's hair but it's been a while. I think the last time I did I was pg with our daughter, and eventually I got so big I couldn't cut his hair comfortably. :rotflmao:


We're making huge progress! We've made a few modifications based on our career specifics but we'be found the DR strategies true to human nature. It has really forced us to mature and we're by no means perfect!

We do have some big cultural and faith differences from DR, but so do a big percentage of people who find his teachings helpful.

I recently found a DR board (not his official one) that has a really great vibe. There are people at every stage of the plan, from utterly impoverished to quite wealthy. PM me if you'd like info for that board.
Agree with the bolded, but as you said I've found his advice to be helpful and inspiring.
PMing you. ;)

[Uno-Mom]

I just made tuna fish for the next few rounds of sack lunches. Sigh. (DR listeners will get the reference...). Luckily I do like tuna!

[kaitlyns.mom]

I just made tuna fish for the next few rounds of sack lunches. Sigh. (DR listeners will get the reference...). Luckily I do like tuna!

:D MIL always talks about how she and FIL lived on rice and beans for years when their kids were young. (They are very frugal and a great inspiration for me when I am feeling tempted to waste money on things I don't need! Too bad they don't live closer.) Unfortunately DD is allergic to rice so it would just be beans for us. :rotflmao:

[Uno-Mom]

Wow, I've never heard of someone being allergic to rice. That must be a trial!

But in all seriousness re the OP. We've found it much harder to be serious about a savings goal vs a paying-off-debt goal. Without going into too much detail, we paid off about half our debts (student loans mostly) and then cashflowed FMLA parental leave. Then we were getting back into the swing of things but had a big job security scare. That made us jump ahead to creating our full 3-6 month emergency fund before coming back to debt payoff.

We just finished our emergency fund LAST NIGHT! (woo hoo) It was such a great feeling. I have to admit I lost my intensity when we were working on that savings goal because it's no where near as satisfying (for me) as watching the loan balances shrink. I know that's my personal discipline problem but somehow the savings didn't seem as real. Totally illogical.

But maybe if you are really fired up about saving towards the house, you'll have a different experience. I admit that self-discipline is not my strong point.

Now that we're back to paying off those hated loans, I'll find it easier to make budget cuts. You'll see me post less often in the Bargains and Kidswear forums over here! Sigh.