FPU Week 1, Part 2

1.What was the last major unexpected financial crisis you faced? How much money was involved? How would that have gone differently if you had had the money sitting in a savings account?


2.Dream big. What if you were debt free (except your home) and had $10,000 sitting in the bank just for emergencies? How would your life be different? How would you be different?


3.In this session, Dave introduced the notion of actually paying cash for major purchases. This is something we’ll talk about A LOT as we work through FPU. As we get started, what are your initial reactions to the idea of never borrowing money again? Do you think this is too extreme?

1. The last major unexpected $ crisis we faced was paying out of pocket for my D&C in July. The cost was somewhere (prepare for embarrassment because we should be able to cover it) in the range of $800 to $1000 for the surgery. It would have been less stressful all around and we wouldn't have decided to give up on owning our own home.

2. If I had zero debt and $10K in the bank for emergencies ... oh my word ... I would imagine I would feel calm about quite a few many things. I live a peaceful life, but I am guessing I would feel very secure and well on my way to taking care of the needs we have for family building.

3. I LOVE THIS IDEA!!! It truly has been a goal from the day we were married. We lived the first year and a half with zero debt. And then we bought a teeny tiny house we couldn't afford and it all went downhill from there. Love cash only, can't wait to get there.

And the last three (trying a different approach in putting the answer right after the question):


1.In this session, Dave pretty much says that anyone should be able to retire with dignity and some personal wealth. How do you respond to that? Do you believe that you could find $100 a month to save?

I agree, but have never known how to achieve this. I absolutely think I have $100 I could be saving.

2.In your to-do list from the last session, you were instructed to start laying out your personal budget by using the Quickie Budget form. Have you done that yet? If so, can you see how easy it would be to save money consistently, every month if you had no debt? What would that feel like?

I'll answer this one after we've done it.

3.Do you struggle with discipline when it comes to your money? What are some specific strategies you can use to overcome this challenge?