Monday, May 30, 2011
Recently I wrote how I am taking a 13 week class called FINANCIAL PEACE UNIVERSITY (FPU) with this guy, Dave Ramsey.
I got behind on these posts and wanted to update you all on how we are doing.
We are now working on BABY STEP #2 Pay off debt except the house utilizing the debt snowball...except for one car and our fancy grass, this is DONE too. The grass loan is one year, same as cash, no interest and the car has about 2 years left on it. Richard has started to bring in more money recently, so if our plan continues we should have both of these paid off in the next year. WOW! Wouldn't that be nice?!
Some of the AH-HAH moments for me over these past 4 classes:
* LIVE LIKE NO ONE ELSE NOW, SO IN THE FUTURE YOU CAN LIVE LIKE NO ONE ELSE!
* I am the NERD and Richard is the FREE SPIRIT. I am naturally better at saving, planning and creating the budget. So, I will keep my job.
* In another couple years we will start paying Sam a commission, not an allowance. As Dave says, "...we have enough people in our society who expect to be made allowance for. If you work you get paid; if you do not work you do not get paid."
* We have agreed to certain amounts for groceries, Richard's lunches, and BLOW MONEY (Ha ha....we laughed at Dave's use of this term....for obvious reasons and the weird looks we got in WalMart...we have changed this term to FUN MONEY.)and any extra will go toward the car and then the grass (...thus paying them off in a year...).
* Never loan money! Give money and never expect it back!
* Never cosign!
* The FICO score is an "I love debt" score and is not a measure of winning financially.
I highly recommend this class and Dave Ramsey's website.
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