Financial Peace University

Jason and I started 3 weeks ago something called Financial Peace University with Dave Ramsey. Fortunely our church is offering classes for us. So far we have learned so much. It is pretty much common sense but it's stuff that you normally just don't take the time to THINK through! It's amazing how much your thinking changes about money when this man opens his mouth to speak. The beginning of class the instructor was saying that the average couple that takes Dave Ramsey's class pays off debt withing 2 to 3 years, not including your mortgage. WOW!! But as Jason says, we aren't average!! HA!! Isn't that the truth! I believe we have more debt than other people our age but I very well could be mistaken about that. Dave Ramsey's thinking is that noone should retire broke. If you were to follow his steps and actually put them in practice he says we could actually be millionaires when we retire. WOW!! But we must start NOW! Baby step #1 is to put $1000.00 in a saving account as an emergency fund. That way when an "emergency" happens it doesn't feel so much like an "emergency" (ie. the car breaking down, a cavity, an ER trip) Okay, easier said than done. But the important thing is, is that it CAN be done and by golly we are going to do it!! He is so agaisnt credit cards, loans, cash advance, etc......he IS a fan of saving for what you want. DUH! Why didn't we think of that?!?! I mean geez, Rome wasn't built in a day!! Neither is the remodel on our house or the decor that we want for the house! Why are we going to be stupid (why WERE we stupid enough) to put crap on credit cards and pay 18+%??????? Something that costs us 1400.00 is now costing us 2500.00 because of interest!!! (math is not done correctly, just throwing numbers out there, but hey you get the jest of it! LOL) On the other hand, interest could be a good thing. Something called "compound interest" can become our friend. You stick money in the bank at 6% interest and never touch it. Just keep adding to it. Over time the interest is going to build up and that initial 1000.00 is going to booming!! (once again, I'm not the math whiz so you can figure it out........plus this is so you can get the jest of it!) Our homework for this week is to sit down and figure out our budget for the month of February. Now it gets good! :)