I am totally in! DH and I are starting the Financial Peace University on Monday night 1/9. I got the package early and read it over my Christmas vacation. I set up an allocated spending plan that has already helped us not to overdraft the bank account, again. DH is a free spirit when it come to money. We married July 2010. Before I was married I used an allocated spending plan and was totally on my way to getting rid of debt although not using the debt snowball that DR recommends. I have taken my credit cards out of my wallet and frozen them in a block of ice. Yep, took an old tylenol box, put the credit cards in cross wise, filled a plastic container with water, and froze them. Not quite ready to do "plastic surgery" but the time is coming, at least for me. DH isn't quite on board with the plastic surgery plan. We started using cash only for food, clothes, misc on 12/20 (after I had read through the book and saw how handing over cash could help me save on groceries, etc). So far so good on using cash. DH and I want to have $2000 ( to cover mortgage and utilities for a month) in our emergency fund. We are at $1463.87/$2000 right now. I love esg plan of craigslisting items and finding loose change around the house to get the EF. Need to get on the ebay wagon myself and sell some clothes I will never wear again. Ironing goes a long way to upping the price of an item!
The poster who commented about reimbursement from company expenses, could you create a "company expense" budget item that comes from your money, but gets replenished from the reimbursement? That way you are spending cash to pay for items, not the credit card (even if you may use the credit card to make reservations, etc). Just an idea.
This thread is just what I need! I need people with "a heart of a teacher" to keep going on this plan. Can't wait to debt snowball once the EF is funded to $2000.
It is a great idea, but we'd have to have up to $2,000 sitting in our checking account at any given time to cover his expenses. We just don't have that kind of money, and when we do, we need it! The thought of having MY money tied up in company expenses (especially when it isn't OUR company, owned by us) makes me want to get stabby. LOL