This week I'm focusing on finances/money. We are going through Dave Ramsey's Financial Peace University with some friends. Loving it. I recommend it to anyone.
What he means by the above is that everyone else (or most people) live beyond their means financially. They buy things they can't afford to impress people they don't really like. Or they just don't have the self-control to stay out of debt. Credit card debt, auto debt and student loans are rampant!!
Dave says if you can't pay cash for it, don't buy it.
After going through bankruptcy 20 years ago, he has only used cash and doesn't even have credit cards. He says the FICO score is really your "I love debt" score.
He is now a multi-millionaire and actually paid back all the debts he was cleared of when he filed bankruptcy - even the banks.
He says we should live below our means now (like no one else) and pay off debt, save 3-6 months expenses, etc. (see Baby Steps). Then one day you will be able to live like no one else because you will be financially secure.
You can also listen to him on the radio or on-line. He's on our local radio station for several hours starting at 3:00 every afternoon. I'm addicted. The kids even ask to listen.
He's also got a book called The Total Money Makeover.
Come back tomorrow to hear one of our money stories...
1 comment:
Jenny, a few years ago we did Totally money makeover (as well as reading all of Dave's books). It has changed our lives. There is SUCH freedom in debt free living ;) You may know already, but Dave has made this book in a kids format too, which is SO cute. It teaches them how to tithe, save, and spend. VERY CUTE!!! When we were in Franklin last week, I just HAD to go see DAve's house (which was built with cash). Can I say, "AMAZIN'!!!!"
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