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After I posted about the Financial Peace Class by Dave Ramsey that we are taking at our church on Wednesday nights, I have had a lot of people ask me to blog about what we are learning, and boy have we learned a lot so far! Last Wednesday night, was our first class, and then last night we had our second class. There are still I think 12 more weeks left, so still a lot to go over, but I will write a little about what we have learned so far.
We paid about $90. to take this class, and it came with a bunch of books and resources needed to do everything the class is about. At the class we watch a video lesson each week of Dave Ramsey talking and then we break up into small groups to discuss it. Here is a video preview of the first lesson. Dave Ramsey is actually really funny and he breaks everything down so it’s very easy to understand.
“An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen.”
We learned that the emergency fund is not to be touched unless it is a real emergency! I really agree with this, because it makes things more secure. We can know that no matter what happens that we some money set aside to help us in case we need it. And as long as we don’t need it, we don’t touch it – no matter what!
You may ask how do you start this first baby step? Well, Jon and I before we even started this class had started a savings fund by setting aside $100. a month. We had already achieved our $1,000 but we were saving it for the things we are going to need for the baby. I talked to our teacher after the class about whether or not we should use the $1,000 we had already saved as our emergency fund, or for the baby like we had planned. The teacher said the emergency fund is more important. He pointed out that we will get lots of stuff at my baby shower, and that we should be fine. Right now we have been given a lot of stuff, so I am not too worried. I know God will provide the rest of what we need.