The rich rule over the poor, and the borrower is servant to the lender.
My husband and I are currently taking Dave Ramsey’s Financial Peace, and I am counting the days to freedom from debt. A lot of Dave’s practices were ones that I was taught growing up, like saving vs spending…staying away from credit cards etc.
In my twenties, I used to freeze a ziplock baggie of water, with my credit card inside. I kept it in my freezer, and had to thaw it out if in need. I knew impulse buys were out of the question, because I didn’t have easy access to my credit card. If it was a true need, than I’d have time to think about how dire that need was while the ice melted. But once you grow up and get married, your own practices merge with another’s. You and your spouse design your own plan, and things can change from moderate to radical.
My hubbie and I are fortunate enough to be able to say that after 7 years of marriage, we’ve never had to struggle financially. However now that I’m in my new job, which is hit or miss with getting paid, we’re fast learners on how frivolous we had been with our money. We spent whatever we wanted, because we had it on hand. And right now when I’m debating on what groceries I need vs want, and how much is in the bank or not…it’s a definitely challenge but a good one.
We’re learning to manage things better and faster. We’re overcoming our financial shortfall by creative measures, and this Financial Peace University is just one of the many ways we’re planning our future. Dave Ramsey’s debt snowball is one application that works for us.
It teaches to list all your totals you owe to what companies/creditors in order of largest to smallest. Pay the minimums on the biggest totals due, and pay as much as you can afford to your smallest debt. Get one paid off quickly and then start on the next smallest amount due. It’s designed to help you attack your debt one loan or credit card at a time. It also helps you count down (by pay off dates) to financial freedom…and peace.
I’m so looking forward to the day that I can call Dave’s hotline and announce financial freedom! Not only will this help me and my husband partner and agree on our financial plans, which is better than 90% of couples out there, but it will also set an example for my son. We will break the chain of debt in my family, to set him financially free for his future as well.
This faithful friday, I post on financial faith. God wants us all to be debt free so that we’re not ‘slave’ to the lender. This class is another way to give our finances to God and get rid of all debt that has control over us. Now I just have to get paid more money to be able to pay our debt off…which is why I started my photography business on the side to supplement my small income. I’ve already got 3 photoshoots lined up in the next 5 weeks! Yay!