Financial Peace University
I am currently through class 6 of Dave Ramsey's Financial Peace University, and I must say it is the best investment in time I have ever put myself into. I have learned about how debt controls people's lives, the myths of borrowing money, and many other things.
Now, this was a free investment for me because the company I am working for paid for the classes, but the value of this class is worth tens of thousands, and even millions when you retire. Compared to the fact that the class is offered for less than $150, this is a STEAL!
For example, if you are paying 400 dollars a month towards credit card bills, if you got rid of the debt, and continued putting money into a mutual fund that averages at about 12% per year, after 40 years you would have $4.7 MILLION to retire with.
Or the fact that if you take out a $100,000 30 year mortgage, your payment at the current 6.15% interest rate is going to be $609.23 a month, for 30 YEARS, totaling $219,322.80 over those 30 years. The same loan, at the same rate, but cut down to 15 years may be $851.98 per month, an increase of about $240 per month, but over those 15 years you are only paying $153,356.4. A savings of almost $66,000 dollars.And the larger the loan, the more you save in the long run.A $150,000 loan saves almost $99,000, and a $200,000 loan saves you $131,932.
That is why I now permanently have a link to Dave's site on my sidebar. AND, you can listen to his radio show Monday through Friday from 1PM-4PM CT.