Life change continues. . . .

Three cheers for our current Financial Peace University Class. In this weeks lesson, we covered dumping debt. This is one of my favorite lessons. Dave Ramsey spells out 15 debt myths.

Here are my top three myths from this lesson:

1. You'll always have a car payment. I'm living proof that you can save up and pay cash for a car. It really is doable.
2. If I loan money to a friend or relative, I'll be helping them out. (No way) If you do this, you just changed your relationship to master / servant.
3. I can get a good deal on that zero percent interest new car loan. Fact is, that new car goes down 70% in value in the first 4 year and that so called zero percent interest rate is built into the price of the car.

Well, these three debt myths along with the other 12, lead to the destruction of 7 credit cards from this FPU class. These cards are not part of my 200+ destroyed credit cards sitting in my office.

To quote Dave Ramsey, "Debt is Dumb".