In the late Fall of 2008, I was approached about facilitating a Financial Peace University class. I had heard of this class and Dave Ramsey, but didn't know a lot of details about either. I knew that there were things in the financial area of our lives that we needed to be doing better, and I knew there was a lot we could learn. Experience has taught me that when you are in charge of a class or study, you often learn more than if you are simply a participant. So our desire to get our financial lives in order combined with my willingness to lead the class landed me in front of a class of about 30 people in January 2009.
Mark and I began Financial Peace University with about $10,000 in total debt. We set what we felt was a quite lofty goal of getting that paid off before the end of 2009. With determination, sacrifice, a very focused drive and the grace of God, we were able to pay off the last of our debt on September 16, 2009--three and a half months ahead of schedule. Wow, what an incredible feeling that was to be completely free of ANY and ALL debt!! (I need to insert here that we are blessed to live in a parsonage, so we do not have a mortgage.)
We now purchase only that which we have the cash in hand to buy, which will include our next car (no, car payments do NOT have to be a way of life!), and we are determined to never get into debt again. We have an emergency fund, sufficient life insurance, and are putting money into appropriate accounts for both retirement and our children's college. We have a family trip to Dallas coming up as well as a tenth-anniversary trip to NYC, and both will be paid for in cash. Having financial peace is an incredible place to be!
Having learned many financial lessons the hard way, Mark and I want our children to start early in learning how to live in financial peace. So a few months ago, we purchased Dave's "Financial Peace Jr." kit, which is recommended for ages 3-12. This afternoon, we spent some time getting ready to put this program into practice. It uses Dave's sound financial foundations in teaching your children how to give, save and spend. The kids are pumped, and I, too, am excited to get them started on the right track NOW!
In case you can't tell, we are huge Dave fans at our house!
If I have your curiosity piqued, you can go here to learn more about Financial Peace University!