We started
Financial Peace University a few weeks ago. Dave Ramsey is pretty much a genius. He's got a radio talk show, people call in and tell him about their financial problems and he has the best advice. I love listening to his show. Colby brought home a flier from preschool in December for Dave Ramsey classes. It took some convincing for Jason to agree, but he's definitely on board now. There are 7 baby steps to being totally debt free. 1) Have $1000 in emergency funds. 2) Pay off all debt except mortgage. 3) Save 3-6 months of monthly income. Somewhere down the line is paying off your house early and saving for college. That's all we've learned about so far. And he has a process planned out for each step. It's incredible. The guy who leads our class (you watch a 1 hour dvd, then have discussion for an hour) started 3 1/2 years ago. Since then they have paid off $57,000 in debt, have their 6 months savings, and he will be paying off his house in 18 months. I think this should be taught in high school. How different would life be if everyone knew how to handle their money? Dave is all about saving up to make purchases--cars, couches, tvs, etc. You can't get what you want right when you want it, but isn't that how most people get into debt in the first place?
I
HIGHLY recommend the class. You can find locations from that link. The one we're going to is at the church where Colby has preschool. We were able to get the supplies
much cheaper through them, since they bought in bulk, and they provide free child care. For 3 kids, two hours every week for 13 weeks? It's almost like a date night, And well worth the $80. He also gives advice about how to teach toddlers to teenagers how to save and the concept of earning money.
Our budget class was Thursday, so with a new budget in place we're going to stick to it. We've tried budgeting before, but without much conviction. These classes are going to change our lives.
Example: Instead of paying for haircuts for Jason and Colby we bought some hair clippers at Costco ($20, that's probably less than the cost for both of them to get haircuts once each when you include tips) and they both had haircuts last night.
(I've been trying to grow out Colby's hair, but it's just too mangy most days. Maybe when he's a little older and will wash his hair every day.)Before & After
So there's my blurb. I'm telling you, Dave Ramsey is my new best friend!
