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Obtaining financial freedom

  • Published
  • By Tarsha Storey
  • 20th Fighter Wing Public Affairs
SHAW AIR FORCE BASE, S.C. --  Definitions of financial freedom vary from person to person, but for some it means living without worry. For others it means the ability to purchase anything on a whim.

For those attending the Financial Peace University class, hosted by the 20th Fighter Wing Chapel, financial freedom is about putting money in its place so it does not rule your life, said Capt. Charles Mattingly, co-leader of the current FPU class and the 20th Fighter Wing executive officer.

The class is a combination of video lecture, book study and discussion group. There are 13 weekly classes.

Each week, participants will cover a different aspect of the program, Captain Mattingly said. The first class, which was Jan. 29, discussed the basics of saving money and the need for everyone to have an emergency cash fund.

Upcoming classes will cover the basics of eliminating debt, saving money, investing and making a budget that works; steps that, when taken, will lead to the person's financial freedom and peace with their finances, Captain Mattingly said.

Chaplain (Capt.) Richard Compton, 20th Fighter Wing chaplain and class co-leader, said it is important for those who live month-to-month to make the necessary changes to prevent money from ruling their lives.

"You'll find yourself in the same place every month if you don't do something about your finances," Chaplain Compton said.

Class participants joined for various reasons, such as paying off debt, establishing savings and setting their family up for financial success, Chaplain Compton said.

In one of the small discussion groups, Chaplain Compton said the main reason people say they are attending the class is to pass on their financial values and successes to their children.

Chaplain Compton said financial freedom and stability can benefit everyone and can help in many aspects of life.

"Without financial stability, finances can ruin your life. It can lead to divorce, low productivity and a miserable existence. Wealth can be had by anyone - even by only saving $100 a month," Captain Mattingly said.

Both Chaplain Compton and Captain Mattingly strongly encouraged any Shaw members who would like help with their financial situation to attend Financial Peace University. The current class is full, but another class date will be announced mid-summer.