Is financial peace obtainable? We seem to always be chasing the next thing we want or trying to pay off the bills of the last thing we wanted. So our family has started a 9 week class called Financial Peace University (FPU). We were interested to learn any tips on how to feel at peace.
Our first night of classes was this past weekend and my college age children went as well. I asked what they learned afterwards and my daughter said she learned that if she starts saving $2,000/year now and leaves it in investments that she will be a multi-millionaire by the time she retires. I asked her where she was getting the $2,000/year and she said from me. Obviously, she is returning for next week’s lessons as she isn’t grasping the full picture.
It was surprising to learn how many people are living paycheck to paycheck. The amount of debt the average person has is staggering and how easy it is to end up in that situation or bankrupt is disappointing. Many people sign up for the 0% interest for x amount of months, but 88% of those people do not pay it off in time and accumulate all of the interest on top of the debt.
While we feel very blessed with what we have, we are not rich people and thought it would be a good opportunity to see how to invest for the future. Also, the opportunity to set the kids up so young in life is great. To have someone else tell them and show them why it is important to put their earnings in savings and 401k opportunities when they start working is priceless.
We aren’t looking to be rich, but we would like to not struggle and we would like to see our kids start off well. No one wants their kids to struggle and we aren’t different. However, we do make sure we teach them to give. Giving back is very important and something we feel obligated to do for our community.
Like the below states, you need to know when to quit. When that next thing you want is just that – a want. Pay attention to what matters most and the people that matter. If you focus on the wrong thing, it will not pay off. Money disappears, but memories and family are solid!
Proverbs 23:4-5 (NLT)
Don’t wear yourself out trying to get rich. Be wise enough to know when to quit. In the blink of an eye wealth disappears, for it will sprout wings and fly away like an eagle.