Financial Peace

Last month, Wade and I attended the Dave Ramsey Live Event with our friends Travis and Cynthia Gough and Tai and Darcy Lauti. It was an amazing experience! Dave really helps you feel empowered about becoming and staying debt free. I love the idea that we can build wealth, not only so we can retire comfortably, but also so we can be generous and GIVE to those in need. Wade and I would love to be able to be more generous now with gifts for our friends, parents, siblings, and especially our cute nieces and nephews, but it's difficult because Wade is still in school full-time, so we have a limited income. I know most of you have "been there, done that" so you know how it is. Being conservative with our spending (yea, you might call us cheap) and living within our budget has taken a lot of self-discipline, but I know it will be worth it! When we're rich, I promise I will spoil all of you on your birthdays! : )

Dave talks about the "Baby Steps" which help us little by little to find financial peace. They are:

1. Save $1000 in a starter emergency fund
2. Pay off all debt using the "debt snowball" (except the house)
3. Save 3-6 months expenses in liquid savings
4. Invest 15% of household income into Roth IRA's and pre-tax retirement
(Steps 4,5,6,7 can be done at the same time)
5. College funding for the kids
6. Pay off home early
7. Build wealth and give!

When we first took a Financial Peace University class in the spring of 2007, Dave encouraged us to to use the "cash envelope system" to help limit spending. You may laugh at me when you see me at the grocery store or at a restaurant, but it's been working for us great! We spend less because it's harder to hand over cash. And once the envelope is empty and the cash is all gone...guess what...we've learned to be creative using what's already in our cupboards for the rest of the month! ; ) So then, we learn to spread the cash out so we can eat reasonably all month.

We've been so excited about Dave's program, that Wade even coordinated a Financial Peace University class for those in our area last fall. This last spring, he was invited to represent Zions Bank in Tennessee and become a Certified Counselor for Dave Ramsey.

Here we are, so excited to hear Dave Ramsey live! If you want to learn more about having financial peace, just visit his website at www.daveramsey.com. It's awesome!