Paying for Financial Peace
February 14, 2011 4 Comments
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! 😉