The cheapest $93 I ever spent. Spreading Financial Peace.

If you're new here, you may want to subscribe to my RSS feed. You can also subscribe to Time To Budget by Email.Thanks for visiting!

I kept the promise to myself and listened to all the CD’s this weekend. It made the time go by really quickly. J and I were in different cars. After I finished one, we’d pull over for a potty break  for our newly potty trained 2 year old. I’d hand him the one I’d just finished and offer some inspirational quip for him. He might call it nagging, but he’d be wrong.

As I listened, I tried to pay attention for something for which to write about for my last post of the month. In lesson 4, dumping debt, Dave says that he knows that he can often identify callers who “have it”, and those that don’t. Those that “have it” are angry, and ready to get out of debt. They find no excuses, have no reason to delay it. They get on board, and they get on board quickly. I would be one of these callers. J would not. He’s a bit more inclined to not own up to things right away. He needs to be knocked around a bit before he sees things accurately, which is why we’re a perfect match. For every bully, there is a wimp.

Our Baby Emergency Fund has a little gremlin that we call Dave Murphy. Any time it gets funded, something happens, and he takes all the money out. We’re 4 months into our Financial Peace journey, and are back to Baby Step 1.. re-again. We’ve had 2 yard sales, we’ve sold a jet ski, cut out our retirement, sold our van, gone to the bare bones for insurance, cut out trash service. We’re still holding onto our cable services. I’m in my final semester of my graduate degree, and internet service is a necessity for us at the moment based on our circumstances. But we have to dig deeper. We have to find a way to get it funded again. We’ve been trying to sell our hot tub, and hopefully, since hot tub weather is nearly here, it will sell. So, I’m going to cut the price again, and all but give the thing away to get our Baby Emergency Fund re-re-funded.

J has a meeting with the manager of the local Domino’s tomorrow. He’s to take in his driving record, and we suspect he’ll be hired on the spot. That will certainly help in getting it funded. We’re also looking to sell Jason’s truck to knock out the 8k debt, leaving us with only one left from the medical bills of our daughter.  My comprehensive exams are next week, and once that is over, I’m going to see about getting a job at Kohl’s as a seasonal employee.  We’re starting to prepare for July. In July, my student loans will come a knockin’. My girls will definitely not graduate from college in debt. Through FPU, I’ve learned about ESA’s, and as soon as we complete Baby Step 3, we’re going to start funding these college funds. Current law allows a 2k year contribution. Our oldest is 2, which seems awful young, but each year we aren’t contributing is a year that her fund will miss out on the compounded interest that would make the 2k per year starting at age 0 until age 18 nearly 200k. There are many steps to get from here to there, but it is important to keep an ear to the ground to be ready, to have a game plan.

One thing that Dave said in the same lesson about those that are going to “make it” is that when your broke friends are making fun of you, you know that you’re doing it right. Some family members have been a little worried, accusing us of joining a cult and such, but I guess I have great taste in friends, because my broke friends are checking out Dave’s books, they’re funding emergency funds. I’m such a convert, so determined to get out of debt as soon as possible, that I’m going to be co-teaching FPU starting in November. It’s offered through my church, but anyone can attend. The next session is going to start on the tail end of a sermon series on debt- in anticipation of the holidays. It is my hope and prayer that my broke friends will join me at least for the FPU. It’s the best $93 I’ve ever spent. 10 years from now when I’ve changed my family tree, and I’m giving like no one else, in the memory of my daughter, I’ll be even more thankful of the small investment. After I’ve co-taught a lesson, then I’ll start teaching my own FPU courses. The lessons learned during the 14 weeks don’t end at the 14 weeks. After listening to the DVD’s (which come with the $93), I’ve learned more, and I know that as I do the course as an instructor, I’ll learn even more. J and I are a bit deficient in the life insurance part. I have none. Nada. Zip. What he has is what is offered at work.

Very quickly, before I close, in speaking of the Holiday’s, I noticed that the Coinstar at our grocery store doesn’t charge if you get an Amazon,com gift certificate from your coins. So, we’re emptying Piggy Banks. We got… ha… $93 out of one. No trips to the mall. It eliminates impulse purchases, and “gotta have its”. We’ve got 2 more to empty so that we can go get plastic stuff for our kids.

The last thing that I re-heard, not for the first time, but I was like “Oh yeah”, was that Prayer really does work. It does. It does. I’ve no doubt that God led me to Dave Ramsey’s program because I prayed for help with finances. If there are any two people that are a testimony to how much things can change in 14 short weeks, it is us. I can’t even begin to tell you of the denial that I was living in, and of the lengths J was going to hide it from me. After 14 weeks, J and I are caught up on our bills, and are working with one another, not against one another. More importantly, is that Jason has become a Christian. The promise and the proof that he was seeing after doing it God’s way, not only financially, but in every aspect of our lives was the evidence he needed.

~Manda

September 29, 2008 | Filed Under Budgeting, Dave Ramsey Financial Freedom, Dave Ramsey Financial Peace University (FPU), Financial Advice, Financial Goals, Financial Peace Baby Steps, Financial Peace University | 1 Comment 

Avoiding sabatage. Nerds and free-spirits need to work together to acheive financial peace

J and I are prime reasons while people should receive some kind of marital counseling before getting married, just to discuss communication. It’s become how utterly clueless I have been about financial responsibility. It is something that should be taught in schools, in college there should be classes dedicated to it, and before applying for a marriage license, or cohabitating, two people should discuss the specifics of finances. I know I write so often about relating in relationships and money, but if anyone is like we are, it’s a pretty big part of the problem. With the number of divorces that fail in the United States, and with most of those claiming fights about money as a leading culprit, I don’t think I’m alone.

Getting to square one has been extremely painful for us. But here we are, getting closer to the same page. Our new checking account is open. We’ve split the bills. He takes care of the mortgage and our car insurance. I take care of everything else. I can see that we’re starting to slip a little bit on our budget because it’s more simple to use the debit card instead of cash. So, once we tighten up and start using the envelope system how it is to be used, we’ll be back on track.

I called today to pay the cable bill, and J had paid it already. He failed to tell me. We’re still not on the same page. His reason was he doesn’t like e-bills. E-bills is how I pay the bills. He conceded that I was, once again, making sense. I explained that if we had paid the bill twice, our closely planned budget would be out the window. We’re working- for the third time- on building our emergency fund. The bills are finally caught up. I know it sounds crazy, but I can’t help but wonder if there is a bit of subconscious sabotage. Yes, this is hard. Absolutely, but I’m ready to tighten up and keep walking straight instead of throwing my hands up in a show of futility. There is a goal. It’s a couple of years off, but there is a goal.

So, obviously, we still have some relating to do. J and I don’t closely fit into the “nerd” and “free-spirit” descriptors of Dave’s, but if we had to choose, I’d be the nerd, and he the free-spirit. Last January, I started praying for guidance for help with the financial mess that we were in due to the medical bills of our deceased daughter. God, I honestly believe, led us to Financial Peace. Our marriage was on the state of collapse, and the stress that my husband must have been under trying to keep up the facade must have been excruciating. He admits that he sleeps better, and there are fewer fights, fewer accusations, and more accountability for both us. As a task-masker, attention to detail, hyper-organized personality, I’m the obvious choice to pay our bills. So, I will continue to pray for us, and I always try to remember to give Praise that we are no longer in the state of downward spiraling denial that we once lavished in. Our eyes have been open, and it ain’t such a pretty picture.

September 25, 2008 | Filed Under Financial Freedom Journey Pep Talk, Just Whatever | Leave a Comment 

Passing up on the “stupid tax” and walking the path to Financial Peace

About six months ago(before Dave), J was offered the opportunity to go on a business trip to California. Included would be an apartment, a rental car, and a per diem rate with which we could buy groceries. We’re on the east coast, and who knows when an opportunity like this would ever happen again. It was something we couldn’t pass up. A free trip? Free to poor people trip. Now, we see the situation through different glasses, with Financial Peace in our sights. Truthfully, after air fare, boarding our dogs, spending money in CA, this “free trip”, could’ve easily cost us $1500. Before Dave, $1500 was nothing. We refinanced our house in order to remodel it a year ago, and I spent half of it without blinking.

This morning, J told his boss that he’d be unable to go. We’re okay with it. We were very excited about it 6 months ago, planned the trips we would take while in the San Diego area. But now we’re more excited about the opportunity to be debt free in 2 years. We can’t throw away all the lessons learned in the last 13 weeks for a trip that, as those striving for Financial Peace, those doing what rich people do, can’t afford. If I’m honest, we’re quite proud of our decision. We’re delaying instant gratification and instead walking the path of Financial Peace.

We’re living like no one else, so that later, we can live like no one else [and take a trip to San Diego that we pay for with cash!]

~Manda

September 22, 2008 | Filed Under Budgeting, Dave Ramsey Financial Peace University (FPU), Financial Freedom Journey Pep Talk, Financial Peace Baby Steps, Financial Peace University, Financial Planning, Money Management Tips, Stupid Tax | Leave a Comment 

There is no end, just a lifetime of Financial Peace

For anyone considering enrolling in Financial Peace University, do it. Jason and I weren’t even the best in attending. Our classes were on Sunday’s after church, and with a toddler and a newborn, it was impossible to make it to all of the classes. We were diligent about listening to the lessons that we missed. We’re taking a short road trip this weekend to pick up a car from my parents. They’ve not seen the “Financial Peace” light, and have taken on a new car payment. I’m inheriting their paid for car. We’re going to revisit as many of the lessons as we can during our time on the road.

One of the reasons that J and I are excited to acheive Financial Peace and to build wealth is that one day, I know that I am going to be responsible for the finances of my parents. My mother works to pay her credit card debt and car payment. My dad is going to seek retirement soon, and I assume my mother will keep working. They’ve worked hard over the years, but they will not be able to retire with the dignity that two such hard working people deserve. Hopefully, when the time comes, I’ll be able to give them that dignity. I’d like to help my dad pay off their home. They live in rural Alabama and have very little left on it. Then I’d like to have my dad pay “rent” into a savings account and invest that money for them on top of his military retirement and social insecurity. The hard part will be to get my mother to start spending money instead of credit. But hopefully, I can use our Financial Peace Journey as a motivator. I believe that as Christians, we are called to take care of our family. The Bible tells us in 1Tim 5:8 that even unbelievers take care of their family, and to not do so, makes us less than an unbeliever. It is that important, and something I take seriously. I’ve always known that it will be my responsibility to care for my parents when they get older. I’ve just had no idea how I would be able to do it. With Financial Peace, it becomes possible. With Financial Peace, taking the God-given responsibility of caring for my parents will not be a burden on top of many other burdens. It will be a pleasure because I’m no longer dealing with life as it comes. I’m thinking forward, taking responsibility for my actions and decisions, and being mature enough to delay gratification.

On the flip side, I hope to build our wealth to change our family tree. I know that if I am diligent and continue to apply the principles taught in Financial Peace, and continue to pray for the guidance of God in our lives, that my children will be able to go to college, and will be able to start their first jobs newly educated and debt free. I want to raise them to be responsible with money so that they will make mature decisions about the wealth that J and I will build over the years. In changing our family tree, my daughters will be responsible for us and our money, but in managing it, and not providing for us.

Preparing for the senior years of our parents, and changing our family tree are but a few of the examples of what we’re looking forward to through Financial Peace. We’d also like to build Accessible Playgrounds in memory of the infant daughter, Aleah, who died 18 months ago. Looking forward to giving is exciting. But, it means living the lessons that we’ve learned. We’ve already planned to listen to the CD’s on our trip this weekend, to re-motivate, to remember, to not lose our focus. Even if we stopped with baby step 2, the positive impact Dave Ramsey and Financial Peace has had on our life is remarkable. I’m happy to report that we have a balanced check book! I know that this is minor stuff for some, but it’s been 5 years for us. All of our bills, with the exception of our trash service, are caught up, and it will be paid in full on the 25th.

It’s tempting at this point to cut back our titheing in order to have the extra cash flow to pay down some debt, but after hashing that decision out in my head, I know, in my heart, that titheing is an important component of my spiritual life. It’s me showing God that I trust him with my finances. He led me to my church, which in turn led me to Dave Ramsey’s Financial Peace. I know that God blesses those that have Faith in him and “put aside” for his glory. In our case, it may not be a financial blessing, but I think that the change in my marriage over this process can be a testament of the blessings God has promised us in exchange for our giving. I’ve always believed that giving is an important part of Christianity that is often overlooked. J and I missed the last FPU lesson on giving, but I’m excited to hear it this weekend during our road trip.

As Mona said earlier in the month, quitting is not an option. I understand that some may get discouraged because Baby Step 2 takes so long, especially if there is a lot of debt. Even for those who pay their debt with no intensity are better off if they stick with the resolve to QUIT BORROWING, because that is a step in the right direction. No matter how quickly or slowly you travel, having the proper orientation, although basic, gets you to your destination. Christmas is just right around the corner, and J and I have absolutely no money budgeted for it. None. We aren’t willing to go back into debt this year, and spend the first few months of the New Year recovering. But, I trust that it will be a joyous holiday regardless.

~Manda

September 21, 2008 | Filed Under Dave Ramsey Financial Freedom, Dave Ramsey Financial Peace University (FPU), Just Whatever | Leave a Comment 

Next Page »

  • Budgeting Works!

    To gain financial freedom you must take control of your money, plan for the future and Stop Borrowing Money!
    Two families striving to gain financial freedom share their experiences.
    Blog Author Mona Weathers (monawea)


    Co-author, Manda C.

  • Time To Budget News!

    Manda C. is our new contributing author. Welcome Manda!