Stevan and I started Dave Ramsey‘s course, Financial Peace University (FPU) last night at a church in a nearby town. We had already started by reading the book and doing it on our own so when we found on-line that a local church was having the classes, we signed up. It was a good first night and I think we’ll be able to share in our small group when we need to.
One of the first baby steps that FPU asks you to do is build up a $1,000 emergency fund right up front. Later, your emergency fund will be 3-6 months of expenses, but this first $1,000 is to jump start you into a commitment and to give you a buffer for when Mr. “Murphy” comes to visit (i.e. an emergency that in the past a credit card took care of). Well, we have had that emergency fund since last month and have been quite pleased with ourselves for doing it so quickly (with much sacrifice, but still we did it). We were even able to share that we already have done Baby Step #1.
Until today….when I had to get a CT scan for my kidney stones back in Sept. that procedure cost like $3,000! The insurance paid the 80% and we’re stuck with $750 to pay (we know this isn’t a terrible amount but it is high to us). Somehow, the hospital didn’t contact us and inform us on what is left to pay so we are unable to do a payment plan and must pay the $752 (interest). We are so bummed that we have to already use our Emergency Fund! But this is an emergency to us and we can pay for it! We DON”T have to put it on a credit card and pay for it later for the rest of our lives, either! I am going to keep reminding us that at least we will never see that bill again or be paying for it. And………………..if in the future I pass the other stone that we know is there thanks to that expensive procedure and they want to do another CT scan, I am praying that we will be able to meet that crisis and it won’t be a crisis because we’ll have the money (and then some) saved. It won’t be a “Murphy” crisis, it will just be something unexpected. Well…I am expecting it and hope to be proved wrong in that the stone disintegrates on it’s own or that I never pass it. This is my earnest prayer.
I am sharing this so that I can look back on my pep-talk to myself and know that we will be okay. We’ll just sacrifice some stuff even more until that emergency fund is built back up. Thankfully, we just started FPU and have a small group to hold us accountable and encourage us as we do it. God’s timing is amazing. Perhaps He knew it would be extra tough on us to dip into the fund so early so He didn’t have us find this opportunity to take this course until the bill came.
If you’d like more information on Dave Ramsey and Financial Peace University, click here.