Because of a week off (Spring Break) and a missed week, it's been a while since I've done an FPU update . . . but it's still incredible stuff and worth every moment . . .
And let me remind you again to check out What If We've Got It All Wrong - the Gregory's (Creekers) all out their on the table chronicle of their financial journey. Good stuff.
OK, here's the highlights:
- Myth: You need to take out a credit card or car loan to "build up your credit score."
Truth: The FICO score is an "I love debt" score and not a measure of winning financially.
- In 1970 average person had 560 ads flashed in front of them every day . . . today it's 3000-4000!
- Those 90-day 'Same as Cash!' contracts? 88% of them convert to payments - usually at 24% APR! In the same vein only 1/3 of car buyers qualify for that "0% Financing!" . . . the others . . . well they buy the car and fund the other 1/3!
- "He who is impulsive exalts folly." Proverbs 14:29
- No amount of stuff equals contentment or fulfillment. Don't medicate dysfunction with spending.
- You'll never catch happiness with money.
- How to develop power over purchasing:
1) Wait overnight before making a purchase.
2) Carefully consider your buying motives.
3) Never buy anything you do not understand.
4) Seek the counsel of your spouse (or someone you trust)
Wednesday, April 9, 2008
FPU Highlights - Week 4 & 5
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2 comments:
Something I don't do enough, but know WILL work - Step 5) PRAY, PRAY, PRAY some more about all those purchases - He will answer (unless you refuse to hear NO for an answer which I have done before and regretted)!
Good stuff, John! I can only imagine the celebration families will get to have when they invite the peace of Christ to penetrate their pocket book, freeing them up to run with gazelle intensity towards Him as well as financial peace. It's a great leap forward.
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