Monday, January 26, 2015

Financial Peace

About ten years ago we took Dave Ramsey's Financial Peace University. The class costs $100 and it is absolutely the best investment we have ever made. In fact, it was so good for us that we decided to take it again.

Last week we joined a group of people from our church and began Financial Peace University for the second time. We decided to go through it again to get us back on track. It's not that we totally slacked off and went back to having debt. We didn't. But it's kind of like dieting... you start out real strong. You change your ways and your habits. But little by little over the years you slack off here and there... and before you know it you are well on your way to the place you had previously dug yourself out of.

That's what was happening with our finances and we wanted to tighten things up again so that we can pay off our house more quickly and build our retirement and college funds for the kids... and maybe one of these years fit in a good family vacation instead of a weekend trip.

While at the first class, during the teaching video, Dave Ramsey said something about how every ten years you will experience at least one financial crisis. In my mind I thought "Hmmm... we haven't."

And then I had a DUH moment because I realized that last year Mike did not qualify for unemployment and we had months to go before he was back to roofing. That's a financial crisis right??

Well it could have been! But it wasn't. My mind did not register it as a total crisis.

We were financially prepared for something to go wrong. Baby Step 3 in Financial Peace is to build a 3-6  month emergency fund. We had that in the bank and therefore knew we would be ok. We had enough money to get through the winter, but we ended up using very little of the emergency fund. Mike started delivering pizza and working at the church. I had offered scarf parties (I made those up) and was making money through those and my crochet business. (Wix-Works)

We managed to get by and still have a good portion of our savings intact... and I didn't need to panic through a crisis. That is financial peace.

It wasn't easy with all our weird work hours... but it could have been so much worse had we not been prepared!!

I am sooooo thankful for Dave Ramsey and his teachings on finances. He is extremely motivational and his teachings have kept us on the right path over the years. In his book Complete Guide to Money Dave says, "I don't like discipline - but I love what discipline produces." I agree! I hate that I have to practice discipline... but I'm willing to do it because I love the end results!

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If Financial Peace sounds like something you need you can CLICK HERE and change the location to be yours to see if there are any classes being offered in your area.

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