FPU Class Totals

Well, as Kevin posted, our very first Financial Peace University class finished up last night. We did it! The final class totals are below:

23 people (10 married couples, and 3 singles)
Class timeline - April 26, 2006 - July 19, 2006

Total Debt Paid off during this class (not including mortgages) - $38,931.16
Total Savings Increase during this class - $18,744.53

The average student paid off over $2,700 in debt while saving over $1,300 cash into an emergency fund. That's a change in position of over $4,000!

The maximum savings amount was $6,200.

The maximum debt paid off was $12,112.00!!!

I talked to the couple that paid off over $12,000 in 13 weeks. I asked them "how in the world did you do that? (I know them...they are a single income earning family earning the average American family's income). The answer I got was "Intensity, Man...intensity".

They are absolutely right. When you take the bull by the horns and say "I'VE HAD IT" and REFUSE to live in bondage any longer...that's the day you change your life.

I've been kinda-sorta doing the get outta debt thing, you know...kinda sorta...for about 18 months now. Leading this class and helping others has given me the KICK IN THE BUTT that I needed. What I realized is that YOU CAN'T wander your way out of debt. You have to kick it into gear. My wife and I set a goal for ourselves to pay off our van (roughly $5500 as of 7/1/06) by November 1, 2006. Keep in mind she's a stay-at-home mom and I make an average income...like most of us. However, we managed to put almost $3k on the van in JULY ALONE...and the month's not over. I've been working, working, working, busting my tail in the hot Kansas summer heat...but you know what? We're going to beat that goal. That's exactly what we needed. July's not even over and we have less than $2,500 left on that van. Look out August, here we come!

Here's the point of my rant. No more excuses. Let's get the pain over with now. YOU are responsible for tomorrow and every day for the rest of your life. Let's quit living TGIF to OGIM and have a plan for our futures!

I'm very proud of our class. I'm so proud that I'm hosting another one this fall. Hopefully we'll convince enough more from now until then to fill up the room, standing room only!

Are you ready to change your family tree?