Financial Peace

Well, in earlier posts I have talking about our families finances finally starting to be okay. This is due in full to our financial peace class we are taking. It is offered at church by Dave Ramsey. He is a money genius who has been a millioniare twice.. The first time all was lost and he was struggling as much if not more than most people do. Our lasted class was about your credit score. From birth most of us are taught that you need to have a great credit score to succeed in life. Get a credit card or loan to build up your credit... WRONG!!!! All your credit scores shows is how willing you are to go into debt. If you have a good credit score that just means you are good at borrowing money you don't have and how good you pay money to someone else... Proverbs 22:7 says that the rich rules over the poor and the borrower is slave to the lender... I don't want to be a slave anymore. I don't want to be good at borrowing money.. I want to be debt free... Steps to financial peace... 1. $1000 emergency fund. 2. Debt snowball (get rid of all your debt). 3. 3-6 months pay in savings. 4. Invest 10% of income into Roth IRA's or pre-tax retirement plans. 5. Save for your children's college education. 6. Pay off your house 7. Build wealth and give. These sound easy but we all know they aren't.. We have completed step one and are working on step 2.. And it has made a major difference in our lives... And the cornerstone of wealth building is to give... If you never give you will never receive. This is something that we are now sharing with our children in hopes that they can learn to be financially responsible.