Ignorance about Insurance
The last few weeks Bri and I have been doing Financial Peace University.
It's Dave Ramsey's big class for getting out of debt and becoming financially free.
We started this journey a little over two years ago when we read The Total Money Makeover.
It seemed that was sufficient to get us on the right track with budgeting, paying cash, decreasing debt, etc.
After listening to the FPU segment on insurance we realized that we know NOTHING about insurance.
That is not an overstatement.
I didn't even know what the word insurance would be defined as (think of it as transferring risk from yourself to someone else at a fee).
This lesson has been so good for us and has had us steeped in insurance vernacular and mumbo-jumbo for the last several days.
Are you like me- is it easier to just ignore something if you don't know anything about it?
There's something psychologically daunting about the unknown, especially if it costs money and you're not sure why you would need it!
We have found ourselves on the phone and online a lot these days looking at Term Life Insurance, contemplating changes in our auto and homeowners policies, wondering if we need an Umbrella policy.
What's great about it is we kinda understand what we want now!
If you're at the point in your life where you need to make these decisions, elicit help.
Ask a bunch of people, read a few books, take a class (Financial Peace University really is excellent).
You'll be surprised that it's not quite the drag you expected (almost, but not quite)!
Our next obstacle: a Will (Yikes, hate even thinking about this one which is why we still don't have one!)
It's Dave Ramsey's big class for getting out of debt and becoming financially free.
We started this journey a little over two years ago when we read The Total Money Makeover.
It seemed that was sufficient to get us on the right track with budgeting, paying cash, decreasing debt, etc.
After listening to the FPU segment on insurance we realized that we know NOTHING about insurance.
That is not an overstatement.
I didn't even know what the word insurance would be defined as (think of it as transferring risk from yourself to someone else at a fee).
This lesson has been so good for us and has had us steeped in insurance vernacular and mumbo-jumbo for the last several days.
Are you like me- is it easier to just ignore something if you don't know anything about it?
There's something psychologically daunting about the unknown, especially if it costs money and you're not sure why you would need it!
We have found ourselves on the phone and online a lot these days looking at Term Life Insurance, contemplating changes in our auto and homeowners policies, wondering if we need an Umbrella policy.
What's great about it is we kinda understand what we want now!
If you're at the point in your life where you need to make these decisions, elicit help.
Ask a bunch of people, read a few books, take a class (Financial Peace University really is excellent).
You'll be surprised that it's not quite the drag you expected (almost, but not quite)!
Our next obstacle: a Will (Yikes, hate even thinking about this one which is why we still don't have one!)
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