This week, I attended the first of a nine-session course called Dave Ramsey’s Financial Peace University. (Which I knew was long overdue, but even more so after seeing this chart on compound interest and saving money. Ouch.)
The course is divided into six baby steps to financial peace. Baby step #1 is to save $1,000 as quick as possible for an emergency fund.
I have literally no idea where all that extra money is going to come from, but I do know we get fast food WAY too often and like to shop a little too much, so I’m starting there. (I also posted some shoes that don’t fit on a local Facebook trading post, so fingers crossed.)
And Baby Step #1/2 that I came up with myself is to UNSUBSCRIBE for all the emails that tempt me to buy things. So far this week, I’ve unsubscribed from Carters, Babies R Us, ModCloth, Petco, Keds, Kate Spade, Cartwheel by Target and Kohl’s.
Then I took a shot of whiskey. (Just kidding.)
I’m already pretty thrifty in the sense that I refuse to pay full price for anything if I can help it, and I love to coupon. So I figure if I subscribe to these newsletters I will get the best deals, but it’s a two-edged sword of purchasing more often to get the deal in the first place. And in the words of my father, “Yes, you saved 40%, but if you didn’t buy it at all you would save 100%.”
I have always hated when he said this.
But as I learned in the class last week, we cling hard to our bad habits. We are “like a baby in a dirty diaper – it’s stinky and it’s wet but it’s ALL MINE.”
So, my husband and I are all-in and we are going to try to break our habits so that we can maybe pay off our student loans before dementia sets in and we forget everything we paid to learn.
With any luck, we will end up like Bill Murray in What About Bob, and not so much like Richard Dreyfuss.