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I mentioned in my last post that we had signed up for a Financial Peace University class. Some things made us really uncomfortable, like talking about money in general. However, some things weren’t as bad as we thought, like sharing with a group. Of course, we didn’t really have to share anything personal past our names.

There are people in the group in much worse situations than ours, some of which were totally out of their control, so we felt rather sheepish knowing most of our problems were because we were stupid. Our issues seemed small in comparison. I think this will make it difficult to share in the future, at least for me anyway, because things could be so much worse.

My main takeaway from the first lesson was learning to be content. This was something we already knew was an issue for us and it was nice to have it pointed out again.

Of course, the day after the class, I got all over the homework. I completed the Quick Start Budget (QSB), tallied the numbers for the financial reality check, and did the reading assignment. Then I went over the QSB with the husband after he got off work.

Thankfully, we still have our baby emergency fund, so at least we can check off one of the Baby Steps.

The debt, well, I really didn’t want to think about it. My first guess at how much debt we had (excluding mortgage), I guessed 70K. Then I looked up some of the numbers and thought it was closer to 65K. Well, it turns out it is around 55K. While that’s not a great number (still depressing), it’s lower than we both originally thought. Having this information makes me feel like my original goals are not remotely reachable, at least, not all of them. Not without some major life changes.

Fortunately, we’re thinking more about what and how much we’re spending. We also started using the envelopes for food money. This is a big leak in our budget and has been for a long time. Plugging it will take some diligence, but should pay off.

Well, that’s our first week of FPU.

On to Week 2>>