Tuesday, February 14, 2012

seven baby steps

At work we are doing the Dave Ramsey Financial Peace University {FPU}. It is very interesting and makes you think a lot about what you are spending money on. The first few weeks were the basic info and if you are budgeting, how you are budgeting, yes/no coupons, yes/no balancing check book, etc.

Now we are in to the nitty gritty, hardcore, save money, get out of debt topics!! I am loving it. I do it at work, then come home and tell Tony about it, so we are on the same page. Both of us are pretty excited about this. We know as long as we stick to our goal. Our plan. Our budget we will be completely debt free by next year {the only debt Tony and I carry is our one car}.

The Dave Ramsey Plan has Seven Baby Steps
1. Get $1,000 emergency fund
2. Debt Snowball {Ill get into that on another post}
3. Three to six months of expenses in savings
4. Invest 15% of household income into Roth IRAs and pre-tax retirement
5. College funding for children
6. Pay off home early
7. Build wealth and give!

Throughout this 13 week course, we get together as a group once a week during out lunch time at work. We discuss the topics at hand. Discuss how we are doing on the baby steps. What we are learning. What struggles we are having. I am really enjoying it.

A great incentive to doing this is, if we paid the $50 to do this FPU, as long as we complete the 13 weeks, my work is reimbursing us the $50. Awesome huh! Great incentive. Because I can promise you once you begin this course, you WILL want to finish it.

If you want to do FPU at home I believe it is $150 or so. I am sure my work got a discount because there is about 20-30 people doing it. It comes with a text, workbook, and CDs. I really enjoy the CDs. If not, then there are quite a few best sellers Dave has out there. My dad has EntreLeadership, which he says is a great book.

I totally just promoted Dave on my own accord. But it is so worth it!!

I decided for the next 7 weeks I am going to tell you how we are doing with our baby steps and in general how we have changed our spending/budgeting lifestyle.

Next week Baby Step #1.

'If you will live like no one else, later you get to live like no one else." ~ Dave Ramsey


Smiling is Good for Your Teeth said...

Congrats! This is exciting and I am so glad you two have found something that works for you! Woohoo!

Natalia Lynn said...

I have read one of his books, they are great and totally make sense. Good for you guys!