Dave Ramsey's Financial Peace Revisited

I didn't like this one as well as Total Money Makeover, it was a much slower read and just not as "hands-on" applicable information for finances, but I did learn a couple things, these are the notes I jotted down as I read:

-page 30 (haha, not sure what it was, but if I ever need to reference it again...at least I'll remember the page!)
-sinking fund: payments in reverse (p. 118)
-3 to 6 month emergency fund
-Proverbs 21:20 "There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up."
-compound interest: let it work for you through savings (not against you via debt)
-investments: mutual funds (p. 128)
-high deductible insurance, save on monthly premiums (p. 131) We're on one now and it's great other than when there's a bigger medical expense (like maternity) then suddenly it feels like you are spending SO much on medical bills! But it probably is worth it in the long run, since we have an HSA (health savings account that we and the employer put money in pre-tax) and we haven't paid monthly premiums...it's just different when you are used to HMOs that often are 80/20 after a small co-pay.
 

Weaning off reliance on the credit card

We pay off our credit card every month, haven't carrried a balance in a few years, which has been a huge deal. But we are working toward doing more with envelope systems, especially for groceries/dining and it's been amazing how differently I am thinking about money now that it's not just swiping a card that I'll "pay off" at the end of the month, versus really being accountable for the money right then. I consider myself a pretty frugal (maybe even somewhat stingy/miserly person) but have really been amazed at how much I might spend here and there, maybe even justify as a "need" when I'm swiping a card without much thought (even if we pay it off every month!). We really do spend more when we use a credit card versus cash or a debit card--using money you actually have right that second, not something you'll reconcile with later. Interesting. I really liked this thought from a favorite blog I follow:

"We aren’t 'behind.' We belonged to the school of thought that said credit cards were okay as long as you paid if off each month. Well, that is still debt! We were always a month behind. Instead of the paycheck going toward’s tomorrow, it was paying for yesterday. I’d rather pay it forward than backward."

This really made me think. I like the direction we're going. I really do feel more in control telling our money where it's going rather than reconciling with the credit card balance at the end of the month--even if we never carried a balance. I think we'll be much more accountable, responsible and spend less this way. Ah, freedom and control.