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February 15, 2012

Dave Ramsey: week 1

Sex.


Money.


The bedrock of marriage.


Private yet pertinent.


Did you know that...financial stress in North America is the leading cause marital problems?


We have been attending Dave Ramsey's Financial Peace University. It's a 13 week series with this motto:


"To live like no one else, to be able to live like no one else."


It's been worth our time. In fact, I think it will down right be one of the wisest, safest, and most powerful turning points in the history of our marriage. We won't regret this, especially when were retired and financially very secure. We're building a life here and dedicated to making smart choices. Thanks to Ramsey, he's turning the boring to bonding.


Week one: Super Saving


Ramsey discusses the seven baby steps to financial freedom.


step 1: $1,000 emergency fund


step 2: Pay off all debt except the house utilizing the debt snowball (dumping debt lesson)


step 3: Three to six months expenses in savings


Step 4: Invest 15% of household income into Roth IRA's and pre-tax retirement plans


step 5: College funding


Step 6: Pay of home early


step 7: Build wealth and give!


The first session was mostly about accomplishing step 1: 1,000 emergency fund. It gave purpose and understanding to having an emergency fund. If you have the fund, then when you need new tires, it doesn't feel like an emergency! The idea of not having to stress about sudden occurrences is a bigger pay off than the money itself.


Now, Ramsey calls them baby steps because this is not a sprint it's a marathon.


So readers, for those of you that haven't taken the course, or don't really pay attention to finances WAKE UP.


I've been awoken!


If you're anything like me... I'm not a good saver. I'm uh...totally dependent on my husband in this area. For me, it's been a healthy learning curve, especially for our relationship. He truly enjoys handling all the finances, but, we BOTH need to be involved.


Get movin' and secure a $1,000 emergency fund ASAP.


You heard it (read it), ASAP.


I'm going to try to post on each session but I really don't want to dish out the blood and guts. My intention is to motivate YOU to get the book, join a class, and start building your wealth.


You need the expert, not me!


I'd love feedback and discussion!


Have a joyful day!


KATIE


1 comment

  1. Hey Girl! We have friends that are on this journey too and make youtube videos about it. They are leading one of the classes right now too ! you should check them out, they are such a great family with awesome money tips! love your blog!

    hugs,
    amy

    http://www.youtube.com/user/LivLikeNo1Else?ob=0

    ReplyDelete


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