Financial Peace Works for Me
Financial Peace U. is a nationally available class created and taught by Dave Ramsey in a small group setting with a class facilitator. Our particular class leader happens to be a financial planner who has been teaching the class at our church for years, and has tons of firsthand experience helping lots people get out from under their debt. At the beginning of the class we all wrote down our total consumer debt on a slip of paper and put it in a jar. Our class has somewhere around 30 people in it, and the total debt for the class was astronomical, averaging over 25K per person in the class. That kind of shocked me, but I guess it is consistent with what I've read or seen in TV reports. Still, we live in an extremely well educated, upper middle class suburb. I know, I know...that doesn't mean people are good with their money.
We are six weeks into the class and I have to say it is awesome. The videos with Dave Ramsey are absolutely hilarious and packed with great information. We sat down for the first time and created a very detailed zero sum budget, allocating every single dollar we have to something. Mike's goal is to increase our emergency fund to a level he feels comfortable with. My goal is to have more money to give away freely to people that need it, like families wanting to adopt and charities helping the very poor. Having real goals that make me feel good is helping me curb my addiction to retail therapy and convenience dining...my two biggest money wasters. Yes, I would love a new Coach bag, and yes I can afford it, but it doesn't line up with my real priorities.
Financial peace is the goal of this class and besides the money benefit, it has done really good things for communication in our marriage. I feel like Mike and I are working as a team on this project and we are talking more than ever. Yes, sacrificing is hard but I think it will be worth it. So I highly recommend that you seek out a local Financial Peace University class (they are everywhere!) and sign up soon, especially if money causes you a lot of anxiety.
Anybody out there had success following Dave Ramsey's baby steps? I'd LOVE to hear your stories.