Recently, the Wife and I attended and graduated from the online version of FPU (Financial Peace University) put on by one Dave Ramsey. DR is the best-selling author of the Total Money Makeover and a nationally syndicated talk radio host. DR advocates a very common sense and patient approach to managing one’s money. This is by no means a “get rich quick” program. It takes time, patience, sacrifice, and dedication.
There is so much I could pass along about this program, it boggles the mind. It has truly changed our approach to Finance. Our children will never have to suffer through the financial issues we have. They will never be slaves to creditors. We can’t thank DR enough for putting us on the right track. We will be debt free (with the exception of our home) in a little less than four years. Paying off over $70K in that period of time blows my mind. The key to our success is sticking to an actual written budget, allocating our spending (every dime has a destination), and working hard to make some extra scratch (garage sales, OT, craigslist, etc).
After completing FPU, we joined the TMMO
(Total Money Makeover) website. There, I found DR’s 30-day challenge. The challenge is this: set up a “Legacy Drawer”. I’ll let DR explain it…
If something tragic were to happen to you or someone in your family, would anyone know where to look for important information like a power of attorney or insurance policies? Would anyone else know how to access important places like your safety deposit box? Do you have everything you need to have in order so that if something were to happen to you, everyone could devote their attention to you and not the stresses of financial uncertainty?
If you answered â€œnoâ€ to any of these questions, you need to begin putting together what Dave Ramsey calls a â€œlegacy drawer.â€ A legacy drawer is a drawer in your home that contains all the important information that your family needs if something happens to you. It gets the name from the fact that you love your family so much that you get all your matters in order so that the information is easy to get to and understand.
Itâ€™s not just papers thrown together. It should be organized so anyone could quickly find a certain document within 20 seconds. Everything is clearly marked, in order, and easy for a grieving family member to find.
After the tragedy suffered by Joel and his family, I find the discovery of the 30-day challenge fortuitous, minimally. You don’t have to be a member of TMMO or even be a DR fan to see the benefit of having a Legacy Drawer. Things to include in the drawer are as follows:
I encourage and challenge all of you to get your affairs in order and have them in a place easy for loved ones to find and understand. I know I will sleep better in 30 days when I know if something should happen to me, there will be much less for the Wife to deal with because we took the time to get everything squared away before necessity dictated it.