Finances, Debt, & Freedom

piggy20bank1It’s been far too long since I’ve posted on finances. Can you tell the very word makes me nervous? Maybe it does for you too especially in our economy’s present condition. Well the good thing is that for us, right now, things are going really well.

Jeremiah and I are down to $1,000 left on his school loan and around $10,000 towards our car. A year and a half ago, we were about 30-40K in debt. Now, we’re $11,000! Jeremiah has mentioned how simple it would be to pay the whole car off in a matter of months but with the season of life we’re in (with him in school, internship, ministry, etc.), it’s best to wait and chisel away at the debt as we can.

We would not be where we are without the help of Dave Ramsey and my Mom spurring us to take his 12 week class- Financial Peace University. Finances is just one of those things, like sex, that not too many people discuss and many families don’t talk about growing up. So the result: ignorance. And it’s bliss. I’ve been there.

I’ll never forget a few months ago when our community group at church sat down and we went through each couple’s budget- every detail from car maintenance to cosmetic allowances. I hadn’t done that with anyone, ever in my life. But something about it was so freeing. There was accountability there and we knew we had each other’s best interest in mind. Our goal was to steward whatever resources God had given us the best we knew how.

Even now, I admit the struggle to constantly be aware of what I’m spending. What I’m saving, etc. It’s not easy or always black and white to know what God would do in this or that situation. But I do know for sure, that plummeting away at this debt is bringing him glory. It’s getting us farther away from bondage and closer to freedom.

We can’t wait for the day to call Dave Ramsey’s radio show to say, “WE’RE DEBT FREE!”

Save, Save, Save

samanthakrieger.com

376-savings-jarI was in conversation with a girl my age this weekend about finances and the economy (as it seems to be the hotbutton of late!). I shared with her some of the research I had been doing about where certain people think we’re headed as a nation. I proceeded to say how much my family and I are really trying to save, save, save.

She looked at me in disgust: “Save? I’m not saving. I work hard. I’m going to spend what I want, when I want. As long as I’m being responsible, I’ll be fine. Who needs a savings account?”

Her expression and gestures kind of made me laugh under my breath. She didn’t care at all about what was going on in our economy. I am wondering if she’s even watching the news. But then I began to think more about her response and the fact I have had the same attitude before. In fact, growing up with a father who was extremely successful and not having to worry about finances, early on in our marriage I would spend like I was still under my dad’s roof. It was scary. My credit card proved it. So in essence I lived out her words in some way, shape or form.

But now things have changed. My whole mindset is radically different. While I’m still far from perfect, I really value saving more and spending less. Last year around this time, we were about $40,000 in debt. Thanks to the help of Dave Ramsey, we’re now $10,000 in debt with just a small student loan left and Jeremiah’s car. We’re so thankful that our mindset and behavior has changed. I know we can all admit as Americans that we love living above our means. I mean, who doesn’t love it? But the  better way is to be wise and to be content with what we have. I wish it was easier done than said.

On the Road to Financial Peace…

Jeremiah and I just graduated from Financial Peace University, Dave Ramsey’s 12 week financial course. Our lives have been changed forever from the course. Everything he speaks on regarding finances is so contrary to our culture today. Saving is a word people hate because it requires discipline and thinking ahead rather than just spending whatever in the here and now.

As a gradudate of the course, I feel it’s my duty to let others know how greatly it has impacted our life, marriage, peace, future, etc. We have paid off $8,000 in credit card debt in 12 weeks and we are on the road to becoming debt free by Christmas 2008 (including car payment and student loans).

In February, we found a little one is on the way. We feel so much peace towards that knowing that we’re on the path toward wisdom now, and not foolishness. We will be able to teach our baby that one day too. We have (for the first time ever) our $1,000 emergency fund and we’re continuing to build 3-6 months of income towards savings.

In this category on my blog, I will be writing sporadic posts about the 12 week journey and what I learned. Feel free to commment or ask any questions. We want you to be inspired to delve into this course so that your life can be radically changed- forever. As Dave says: “Live like no one else so that you can really live like no one else.”

Continuing on the road…

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