Paying for Financial Peace

I have mentioned plenty of times now that I’m currently attending Financial Peace University.  While I wasn’t sure I needed it, BF and I definitely DO need it. The preview night and the (free) first night definitely taught me that.

The next question though is: HOW DO I PAY FOR THIS?!

To order the FPU kit through the church we’re taking the class with it costs $99.

This is really a poorly thought out plan. What person who NEEDS FPU has $99?

In addition, Dave doesn’t let you go in to debt to attend his class. So they only accept check or cash!!

Okay… as we all know… I don’t have $99 just siting around. I felt strapped when I had to increase my savings contribution by $30! How in the world will I find THREE TIMES that amount by week 2?

Wanna know how I did it? This is how: I made it a “yearly expense“. Okay, this is kinda cheating the system, but I essentially gave myself a 0% interest loan for the money.

See, every paycheck I put aside money in to a savings account that pays for yearly expenses. Things like Christmas, car insurance, car registration, vacations, car maintenance. I estimate how much those things cost each year, divide it by 12, and save that much each month. Then I keep a spreedsheet document in Google Docs (so you fine people can see it) that I update with how much I’ve spent and how much I have remaining towards that purchase. It works really well for me in not going nuts with once a year expenses.

So, I added FPU to that list, and starting in March I’ll be putting away $10/month towards FPU (the equivalent of $5 per paycheck).  Okay, technically FPU isn’t a once yearly expense, it is a lifetime membership. But I couldn’t find any other way to pay for it that didn’t involve debt or not going.

I’m not sure if Dave would approve of how I payed for it – but this is how I did it. Like it or not! 😉

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4 Responses to Paying for Financial Peace

  1. For low income folks, the Dave Ramsey group offers a discount. It isn’t widely advertised, but your organizers should know about it.

  2. I think it’s half price ($50). The Ramsey people don’t define what they mean by low income to the organizers and allow them to use their discretion.

  3. John Lair says:

    At least you used the money for something useful. It is an opportunity that does not strike twice. As I see it, 0% interest loans and unsecured loans are used to invest on something remarkable. And this investment is life-changing, which you don’t get to see every day. I don’t think you did a bad thing; I call it the first step towards financial stability.

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