You know, I’ve always thought Dave Ramsey had good things to say, and his company promoted good ideas and values…. But I never really dove into his stuff.
Last Sunday was our first FPU class. For those of you who don’t know, FPU stands for Financial Peace University. I don’t know about you, but financial peace sure sounds good to me!
The website makes it easy to find a local class. They’re usually hosted by churches. The classes last for thirteen weeks, a couple hours each. For the first hour, you watch Dave’s presentation of the lesson on dvd. For the second, you meet in a small accountability group.
This last Sunday’s lesson covered the Seven Baby Steps (click here to see a list of all the FPU classes)
- Step 1: $1,000 in an emergency fund ($500 if your income is under $20,000 per year)
- Step 2: Pay off all debt except the house utilizing the debt snowball
- Step 3: Three to six months expenses in savings
- Step 4: Invest 15% of your household income into Roth IRAs and pre-tax retirement plans
- Step 5: College funding
- Step 6: Pay off your home early
- Step 7: Build wealth and give!
My husband and I are both so excited to be heading down this path!
Some people have commented that we don’t need a class like that–we handle our money so well. Some people tell us we need to take it. We decided since we’re in a transitional stage of life, trying to figure out how to financially handle living in a new area, it was a good time to get some education.
Have you heard of FPU before? Why did you or did you not take it? If you did, how has it impacted your life?
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