Tuesday, June 17

Making Financial Discussions Work

We are in our 6th week of Dave Ramsey's Financial Peace University. It has been great. I was hoping it would help my husband and I get on the same page as far as our finances go, and it truly has. We have been working for awhile to become debt free and to save. Going through this has helped us both see that we are SO much better off than most people and if we continue what we are doing and make a few changes based on what Dave recommends, we are going to be in great shape. I love what Dave says, "If you live like no one else, one day you will LIVE like no one else"
It is about choices. Do we buy this stuff now and suffer financially in debt or do we wait and save and know that our diligence will pay off in the end? We are choosing the big payoff in the end.

This program is tough but SO smart and easy to understand. Dave really helps you to see that you can pay off debt, you can save, you can give and you can LIVE! Last night my husband and I sat down and went over the budget for next month. We talked, listened to each other and made changes according to what we both agreed on. Honestly, months ago that talk would have been full of anxiety and tension. But not now, we have the same goals ahead. I know there will be some tough discussions about money in the future. OH YES, I am sure of it. But now we know that ultimately we are seeking the best for our family and our future- TOGETHER!

Are you giving, saving and planning for your future? Are you debt free? Dave has some simple steps:
1. save $1000 in an emergency fund
2. Pay off all debt except the house
3. Save 3-6 months expenses
4. Invest 15% of your household income in Roth IRA's and pre-tax retirement funds
5. College fund for kids
6. Pay off home early
7. Build wealth and give

It seems easy when you read it, but it is tough. BUT this program is great to help you see how to do it and the best thing...Dave is a Christian and he uses the scripture to help guide the way.

So, if you are needing help with finances, this week I have to say what works for us is Dave Ramsey. For more Works for Me Wednesday tips go to Rocks in My Dryer .


Becky said...

I have a friend and her husband who are studying this now. We really need to! None of that sounds easy to me! Esp. when we are basically on one income! My husband is a coach and I work preschool ministry part time at our church. It's hard to see how we can add in all that savings....until our little one starts school and I go back full time.
We really must do this!! Are you doing it as a study with a group at your church, or on your own?
Thanks or sharig!

lana said...

We are doing this at church. If you go online to the link I posted they show classes that are held all over the country. We have a similar situation as you. My husband works full time, I work at our church as an assistant to one of the ministers. It is part time as well. You can do it! Very good friends of ours paid off $58,000 in debt in 25 months working this program. It completely inspired us... they are a one income family as well.

Lisa said...

I am so proud that y'all are doing this and it is inspiring me. I am going to get his info, too.

Anonymous said...

We just finished this in June and it is a great program!

Fuschia said...

Our church is doing FPU also. My husband and I have already done this, so we are providing the child care...for 20 kids :-)
Anyway, I posted today about a different kind of financial freedom, thought you might enjoy reading it!

Life In Progress said...

We follow a lot of those strategies as well. It is hard to tell yourself "No" when it comes to buying, but in the end it will be so worth it! I'm thinking Hawaiian vacation worth it!!!

Daiquiri said...

Hi Lana :)

All I can say is Yes, Yes, YES! We've been working through the Ramsey plan for several months now too. It feels so good to have a plan again, instead of wandering through life wondering what we should do next with our money!

We've completes steps 1-3, and were going to move on to #4, but then we decided to include "the business" too. Right now we're in the process of selling some rental properties to pay of HUGE (and foolish) business debt.

Sure can't wait to get to #7!!

Donetta said...

Hello, My husband and I are doing this also. We are blessed to only have the mortgage. You go girl! I am so excited being on the same page to be responsible and open.

Katie said...

Thank you for the reminder! I'm a single girl so I definitely need to work on the 3-6 month emergency fund. Love your blog!

Liz said...

we're doing it too! We had some prior financial commitments before we can dump all our extra into debt, but I see us being debt free in about a year, on one income! Then Tim will be going back to Iraq, so it will give us a lot of peace while he's gone. I watch Dave every night on the Fox Business Network.