How would you like to pay off debt while saving for emergencies? Nineteen colleagues did just that! Meeting for two hours every week, the cohort of colleagues attended Financial Peace University, a biblically based system for handling money. The class teaches the principles of saving, budgeting and paying off debt and is offered free to Mercy Health Saint Mary’s colleagues who sign commitment forms to attend the class.
As a group, this second cohort at Mercy Health Saint Mary’s colleagues paid off $42,689.49 from February 28-April 29! During this same time, the group saved up $19,889 and cut up nearly 70 credit cards!
The class isn’t all about the numbers; some of it is hope and a new outlook on life. Some success stories directly from the Financial Peace University graduates:
- “I’ve had the mentality change from, ‘I want that!’ to ‘Do I really need this?’ Living on a budget has been a huge help for my family.”
- “Even though I have a lot of debt, now I feel less overwhelmed by it. I was able to pay off several of my medical debts, and save a starter emergency fund, all since March. I know I will get there.”
- “My biggest accomplishment is that I am saving at the beginning of the month, instead of what’s ‘left over.'”
- “The whole budgeting plan really has worked for us. We have cut up seven credit cards, and have paid off so much in debt. We have a ways to go yet, but we are on our way.”
- “Before, we just thought, oh, let’s get this on payments. Now we will save up for what we want.“
- “As newlyweds, this was such a huge blessing for us, to be able to go into our first months of marriage with a plan from the beginning.”
- “I have been saving and paying off my debts, slowly, but surely. I also got back on Weight Watchers and have lost 12 pounds, too! I have figured out, ‘I am in charge of my life,’ and that mentality has changed how I approach my life now.”
- “The best thing that came out of this class is that now my husband and I are talking about money. He is slowly getting on board, but now we know what we are both spending and bringing in and are holding each other accountable. Before it was always a mystery, and now this has opened doors for us to work together.”
- “This class has opened up conversation between my fiancé and me. The biggest ‘yay’ moment was when I had enough saved to be able to give money to a friend who desperately needed it. I have never been able to do anything like that before.”
- “Get a plan for life, going beyond even budgeting. You need a will; you need to have everything in order for your family. That defines a truly successful person.”
Congratulations to the following FPU graduates:
If you are interested in possibly coordinating a course on the Mercy Health Saint Mary’s campus, please email Katie Halloran at firstname.lastname@example.org for more information and details.