FPU Highlights - Week 4 & 5

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)

FPU Power!

Last Wednesday night we started Financial Peace University with nearly 60 adults! These are folks who are going to be blessed beyond their dreams as they put their resources and decisions back in the wise hands of the Owner.

And cooler still is that one of our Creekers - Chris Gregory - has begun a blog to chronicle his families 13-week FPU journey. The blog is called What If We've Got It All Wrong and you've got to go read his first entry! Whether you are going to FPU or not, click here and read it because it is awesome!