Acquiring Financial Peace

Kevin and I have had the privaledge and opportunity to take a wonderful class through our church called Financial Peace University. It is a phenominal program that was developed by Dave Ramsey. Dave is a well known financial expert who stresses the Biblical way of managing your money versus the world's way of managing your money.

There are seven baby steps of Financial Peace University. They are:

1. Establish a $1,000 emergency fund
2. Pay off all debt
3. Fully fund your emergency fund (3-6 months of expences)
4. Invest 15% of household income into Roth IRA's and pre-tax retirement
5. College funding for children
6. Pay off home early
7. Build wealth and GIVE

I have to admit that it has been extremely difficult for us to really plow through the baby steps like we would like to since I am not currently working. We have already established our emergency fund and are currently working on paying off all of our debt. Our debt primarily consists of a student loan and a car loan, which is pretty much the average American's type of debt. Even at that though, we are over it and cannot wait until the day that we can call ourselves DEBT FREE! Our ultimate goal is to have all of our debt completely paid off in less than a year. So we will see how it all works out!

Even though it is going to take time, patience and discipline, Kevin and I are determined to follow through with this program. We would like to successfully complete the program by the time we turn 30 (which is only five years away). However, there are no promises that will actually happen because we would like to eventually purchase a larger home and start a family, which all takes money. Anyway, I figure five years is a good goal for now and we can adjust that goal as life happens. So until then, we will live like no one else so that eventually we can live like no one else!