For those of you who haven’t heard yet, enrolling in Dave Ramsey’s course Financial Peace University was one of the best decisions I had ever made. I finally reached the point in life where I craved financial freedom but I still had no idea how to execute it. Previously I had lived with a scarcity mindset in which I thought paying for a course when I was already financially struggling was a stupid idea. The truth is, if I would have shelled out the $80 years ago I would have wound up savings myself thousands of dollars in debt. Hindsight…right? While there is no way I could fill you in on everything Financial Peace University has to offer, I do want to share with you Dave Ramsey’s Baby Steps and how you can execute them at home. Even after you know these steps, I still recommend enrolling in the course as there is much to learn!
It’s no secret that Tom and I have struggled big time when it comes to finances. During those times in life when we had less kids to worry about, more time and money we made terrible choices. What could have been the best savings years of our lives turned into the best chain restaurant years of our lives. We had all the latest in movies and clothes and we found something to spend money on every weekend. Still, at the end of the month we found ourselves penniless. (I guess it’s easy to see why.) If only time travel was possible…I would totally go back in time and kick my well dressed butt. These days, we have dug ourselves out of some serious debt, gotten our priorities strait and we have sinking funds to thank for a huge part of it.
I have said it before and I’ll say it again, the day I got comfortable talking to my husband about our finances, was one of the biggest sighs of relief of my life. For years we went to church and listened to them talk about some of the best Dave Ramsey methods to payoff debt. When we finally buckled down and gave it a go, we were surprised at just how easy it was. We have implemented budgets, get out of debt strategies, and better ways to save. I have included easy to follow printouts in my Fun Sized Budget Bundle on all the methods we use to keep our finances on track, so you can take full advantage of these practices as well. Right now I’ll show you how the debt snowball helped us pay off $6,000 of debt in only 6 months!
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Before I got married I had heard that the number one cause of divorce was financial problems. This instantly gave me anxiety and a strong desire to never, ever fight about money. It sounds good in theory but this meant for nearly a decade I kept every single financial struggle we were facing to myself. I have been handling our budget since before we were married. Any time money was tight or debt felt overwhelming I just kept it to myself because I didn’t want to stress Tom out and I certainly didn’t want to fight about money. The truth is, talking to your spouse about living on a budget can be extremely stressful but it is absolutely necessary.
I’m going to break down some great resources to help get you started on the right financial track with your significant other. Because, as it turns out, the actual leading cause of divorce (these days) is lack of communication. Damn. I got that wrong this whole time. So I’ll share with you what got me to open up, how we started getting serious with our finances and what you can do to get serious with yours.