And we are off

Last night was the fist night of 2008 Financial Peace University class at NewPointe. It was wonderful. We broke the seal of the newly produced Dave Ramsey DVD's for the class and I must say I'm very impressed by the improvements they have made.

The first class session was super savors. This class covers the need for an emergency fund.

1. $1,000 as a starter fund.
2. 3 to 6 months as a fully funded emergency fund.

An emergency fund is Murphy repellent.

The other major topic covered in super savers was the importance of actually saving money. The USA has a negative savings rate. We are spending more money than we make. Unbelievable. Don't be a negative saver. Come up with a plan.

I'll leave this post with a suggestion, set up and automatic savings withdraw from your checking account into a savings account. Make it automatic and make it happen every month. Your on your way to an emergency fund.