A tool in our journey to get out of debt…

Recently my wife and I started a class in our church called “Financial Peace University” put together by Dave Ramsey, and it focuses on finding a God given peace when it comes to our finances. We have been living for ourselves for far to long. Doing so has made us a slave to our lenders, with the interest siphoning away money that could have been used elsewhere. When we started or journey to financial independence from our lenders we were in debt for $32000, making about $1300 in payments per month. The problem was only realized when we decided that we wanted my wife to quit working and stay at home with our daughter. Her entire paycheck could pay for our debt payments and the childcare cost for her to go to work. Essentially we realized that she would not have to work if we didn’t have debt. We realized our stupidity put us into this situation and something had to happen fast.

Coming into the first week of our class, I realized that we have already paid over $11,000 on our debt payments in 3 months. This required us to sell a car and an ATV, to cut back on cell, grocery, dining and a variety of other expenses. We are truly living frugally as we maneuver our way out of debt and into a more fulfilling role of someone who is responsible with the money that God has blessed them with. We cannot wait for that opportunity!

Matthew 6:18-21 “Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, 20 but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also.”

We are challenged by God to take everything that the world says is normal and turn it upside down. Buying “stuff” does nothing for God’s glory, but spending your money is a wise and God glorifying way gives it all to him and none to us. The self glorification my wife and I experienced is thankfully gone. We are not trying to attain any status or to be recognized for our success. God himself humbled us in our efforts to gain “goods” long ago.

Truthfully, we started out marriage pretty flippant with our spending and built a house during this time. We probably spent more than we could afford in light of our current debt situation and as a result, we borrowed more money. We had a child and to cover some missing time off of work, we put it on the credit card. We never bought a bunch of clothes or furniture, or went on extravagant vacations, it was just the :living for now” and “not saving” that put us in this situation.

As my wife and I progress through our classes on Financial Peace University, I plan on documenting our progress as well on this blog.