Financial Peace University

Updated on July 28, 2008
A.H. asks from Brashear, TX
16 answers

This is a spin off another mom's question about debt problems. Several people mentioned this and I would love more information word of mouth-the website seems promising, but they have a product to sell and at $150 that is quite a chunk.

We never know what my husband is going to make as he is paid based on what he does and it makes it hard for planning. I stay at home with 4 kids...and when we do have extra money we are so excited we usually blow it on something fun- like clothes or an activity- just because life was so tight up til that point. You can't take it with you right??? My husband and I were NEVER taught about savings and bills and have basically lived robbing Peter to pay Paul our entire 15 years together! I am sick of it...if this is some miracle concept I would love to get a basic idea of how it works and if it is possible to do with his pay/our bills. I have tried to budget us, but my husband things debit/atm cards are free money you don't have to tell anyone about. So I have taken those away! It is stressful for us!

I would love to hear your experiences with this-

Thanks!

(no rude or negative comments to me personally please- I have enough to fret over :) about the program...please tell me...thanks!)

**so many of you are so sweet to give me info on where the next class is, and I just wanted to say I have looked up the next class- I live near Galveston- I appreciate you going to the trouble...thank you**

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So What Happened?

I live south of Houston near Galveston... but I appreciate everyone offering where the classes are... I was able to find where there is a class at a church near me... My questions is more of what does this really teach...it advertises the adverage attendant paying $5300 in debt in 91 days, frankly that sounds like something for the more rich ;)

I guess I was looking for more inside info on what they actually teach you, but I appreciated everyone's posts just the same. Thanks.

1/4/08- I am overwhelmed with all the positive advice on this. I can't believe I hadn't ever heard of this before. You guys are great and I am always interested in hearing more experiences. There is a preview here near me at the end of the month and classes start next month. I am going to go to the preview for sure. My husband sometimes travels with work and we never know, so I have to decide if I can pay a sitter every week. I guess I should ask about if they offer childcare...I hadn't thought about that... You guys are great thanks!

More Answers

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J.H.

answers from Amarillo on

A.,

I have actually taken the Financial Peace University program by Dave Ramsey and it is a great program. You can go to the website - www.daveramsey.com. the classes are so useful and you learn how to budget down to the penny. And if you have debt it shows you how to get rid of it and paid off. My whole family has taken the classes and to tell you how great it works my brother and his wife have paid off $16,000 since A.. Isn't that great! My husband are working on our debt snowball - we don't have a whole lot but we have some. If you would like more info let me know. I am great fan of the program.

2 moms found this helpful
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J.K.

answers from Dallas on

They are having this at my church too.

http://www.whiteschapelumc.com/

You can click on Calendar to see the dates, but it's basically from Jan 14 to 4/14 (13 weeks) and the cost is $100 or so.

Good Luck - It's a HARD thing to "fix" but easier now than later!

J.

1 mom found this helpful
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E.T.

answers from Dallas on

I would attend the classes at a church... you're likely to get more out of it. and BOTH of you have to commit and attend. it doesn't work if only one person is doing the right thing.

if you were never taught how to budget or how to make your money work for you, this is a great way to learn how. Even if you know how to budget, this will improve your skills even more.

I would definitely recommend...

1 mom found this helpful
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B.

answers from Houston on

I wouldn't buy it off the website personally. It is christian based and so many churches in your area are probably offering classes on this right now. I think we paid 40$ for our books and then took the classes through our church. You should really look into some local churches in your area to see if any of them are currently offering this class.

1 mom found this helpful
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K.K.

answers from Dallas on

I just happened to see that Cottonwood Baptist Church in Allen will have this class available starting Jan. 20. This may be worth looking into:
http://www.cottonwoodcreek.org/

Dave Ramsey's show is on daily on AM 570...I think between 12-4 or 2-4??

1 mom found this helpful
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M.M.

answers from Dallas on

There is a FREE financial freedom event going on in Dallas on Saturday from 10am-noon. Not the program you mentioned but another really good option for getting out of debt etc. Email me if you would like the details. :)

1 mom found this helpful
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D.R.

answers from Dallas on

When we started FPU in August 2006, and did our first budget (by the way, I am self-employed so my income varies widely too), I realized we were sinking deeper into debt every single month- our income did NOT cover our outgo, by anywhere from $300-700 a month!! And we had $45,000 in debt, a large portion of which was medical and credit cards that we had run up during the medical crisis when I couldn't work for six months.

My husband and I took FPU and for the first time in our 18 years of marriage, we got on the same page, working together as a team, with regard to money. When we started focusing and pulling together, not one pulling one direction and the other going the other... and we had a plan (Dave Ramsey's plan)... and a goal... we threw ourselves into it whole heartedly... you would not believe the difference.

Here we are, 18 months later with only $11,000 in debt and planning to be debt-free except for the first mortgage by August, God willing and the creek don't rise!

I highly recommend it. You will be amazed at the difference in your marriage, not only your finances, if you and your husband can both agree on what to do with your money and follow through, and the FPU makes it simple. And yes- Dave does address variable income.

Good luck, PM me if I can help you more.

1 mom found this helpful
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J.S.

answers from Dallas on

We listen to Dave Ramsey on the weekends and I listen to www.crown.org during the week at 630pm on 90.9. DH has heard both and said they are similar. We're working on it too - you're definitely not alone.

1 mom found this helpful
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K.K.

answers from Dallas on

Hi A.,
THIS PROGRAM HAS SAVED OUR FAMILY---YES it is worth every penny of what it costs---BUT you BOTH have to do it. My husband was so against it from the beginning...but once he saw the numbers, how much we pay in interest on payments, how much we are missing due to debt, and the opportunity lost when we spend money that is not planned for. I NEVER thought my husband would do this program and once he did, he bought the books on CD, listened to them several times, and now has started his financial advising business (on the side of his full time job) because God convicted him that much. IT is SO worth it and actually is what we give as wedding gifts...if only someone had introduced us to it before...

The class is I think 13 weeks....
He gives you every form you need....especially for incomes that fluctuate...he has covered that too.
The sessions cover:
Super Savers (how to save money)
Cash Flow Planning
Relating with money
Buying only the big, big bargains
Dumping Debt
Understanding Investments (I really get it now)
Understanding insurance
Retirement and College Planning
Buyer Beware
Real Estate and Mortgages
Career and Extra Jobs
Collection Practices & Credit Bureaus
The Great Misunderstanding

The awesome thing about Dave is, he actually shares DETAILED suggestions and wisdom...nothing is vague...he lays it out there and is directly honest. This class is SO worth the money and I would not miss a class...jump in with BOTH feet and YOU will not look back. We are not totally out of debt yet, but the debt we have paid off, and the fact that we have a plan, a solid, detailed plan with dates and everything, has given us our joy and peace in life back...seriously. I can not say enough about the course...if you need more details, I would be more than happy to help. If you need someone to talk to about your finances, feel free to call Kevin at ###-###-####. That is my husband who after listening to the books, obviously too many times, is a too much like the Dave in his thinking. He will meet with you for free.

Feel free to contact me if you would rather go that route...less [email protected]____.com

We have a huge passion to let other families share in the joy and peace this life offers without financial worries.....can you tell??? :-)

1 mom found this helpful
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V.B.

answers from Houston on

I totally agree with other posters. You should do the Financial Peace University through a church. It is a really great program and most churches will offer it for free (except for the charge for the book). Most even offer childcare while attending. I'm sure there is a church in your area that is offering it and I think you could benefit a lot from it. I don't think anyone can fault you if you've never been taught how to control your money, but I'm glad to see that you have identified how this can impact your life and are willing to do something to change it. Otherwise, you just pass those same spending habits on to your kids. Kudos to you! Make sure you get hubby on board and go together. As someone else mentioned, it won't work if you aren't both committed to it.

Best of luck to you!

1 mom found this helpful
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H.C.

answers from Dallas on

What is teaches you is really common sense about money through a series or babysteps.

BS1 is have a baby emergency fund of $1000.
BS2 is debt snowball: pay off all your debts smallest to largest. (there are a lot of details in this one.
BS3 is a fully funded emergency fund (3-6 months salary)

there are several after that, but I don't remember the exact order.

It also teaches you: To live on a WRITTEN budget. To live on less that you make. Save money. Make money. And to give.

One of his main things that he says to make your money behave - regardless of income.

Dave says that it's for any income. Just the hgher income people have more zero's. The reason why the average is so high is because most people sell things, like their car, and have garage sales to pay debt. (Sell so much that the kids think they're next.) While also living on beans and rice, rice and beans to get out of debt.

It's a very simple program. But the simplest of things are usually the hardest to do.

If you DO it, it will work!

1 mom found this helpful
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M.Y.

answers from Dallas on

A.,
I haven't taken this course, but know of those who have and they were very pleased by the results. The course is available for $99 at Celebration Fellowship starting January 13 and lasts for 13 weeks. It is an informative DVD course led by Dave Ramsey and is on Sundays at 10:45. This church is in East Fort Worth and is very close to Arlington. The address is 1140 Morrison, off of I-30, and the phone number is ###-###-####. Website is www.thehospitalchurch.com.
Best wishes,
M. Young
RE/MAX Pinnacle
###-###-####
[email protected]____.com

1 mom found this helpful
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D.A.

answers from Dallas on

I am an avid Dave Ramsey fan, listening every day as I drive around for work. We had this at our Church and it was wonderful, from what I heard - we didn't go through it.

I do have his book, his new one, and would be happy to mail it to you if you promise to read it WITH your husband....it is a team effort. Dave Ramsey talks about salaries that change, commission, etc., so you will hopefully be able to plug in your numbers :)

Here is my email - feel free to email me directly:

[email protected]____.com

1 mom found this helpful
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S.M.

answers from Dallas on

If you want the basic outline of the program, read Dave Ramsey's book, Total Money Makeover. The program is fantastic, and will basically teach you all of the things your parents never did about money. Financial Peace University is a series of classes to teach you the system and give you support. DO IT!

1 mom found this helpful
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A.L.

answers from Houston on

A., I commend you for putting this sensitive "issue" out there for other mothers to discuss/think about. Debt is scary and effects many. I have never heard of this but you bet I pulled up Dave's website. VERY INTERESTING! I believe it is around Christmas/New Years that people really start to try to get their feet on the ground and work on issues like Debt. My husband and I would LOVE to have more savings and even more important...college savings for our girls. I just got sucked in by my MIL to purchase a book (ordered two...one for her and one for me...) from that guy Kevin Trudeau - Debt Cures "they" don't want you to know about. Although this guy is VERY controversial and always in trouble with the FTC, it sounded like a pretty decent book with good info. Well, it does not have good ratings, people are very opinionated of this guy. Anyway, I really wish I would have seen this first, I am really interested in at least his book-it has AWESOME reviews on Amazon not to mention all the fabulous ladies on Mamasource :). Best of luck to you and your husband in your debt battle. Please let us know how this works for you all! I wish I could do the class too but right now, it would not be in the budget! Good Luck and thanks again!

1 mom found this helpful
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K.J.

answers from San Antonio on

Do it- please- please please! It changed our lives- changed our marriage- we are on the same page with finances finally!
We paid off $49K in 2 years- we have no debt at all- we live on mostly 1 main income of about $70K. We are about to buy a mini van (used) with cash- next week!! It can be done- it isn't hard- just difficult to learn to deny yourselves the "extras" and just live with the "needs" - less eating out- less out to movies- less extras like cable.
If you are in doubt about spending the money for the course- get his total money makeover book for $15-20 at any book store- learn and use the baby steps he speaks of for awhile and then when you get your feet set- take the course TOGETHER! We said we wished it was required marriage counseling instead of our "6 weeks" with the pastor- who told us basically to talk to each other.
I am telling you- this one thing can truly change your life- gettign on the same page with money really pays off. My husband and I are not by any means welathy - but we sleep at night- peace of knowing we have all bills paid- our house will be paid off in 4-5 years- we will have no debt whatsoever shortly after turning 40. Funding College? No problem! Retirement? No Problem. Vacation? New (used) Car? Christmas? Property taxes? New tires on the car?
YOU GET THE PICTURE ;-)

PLEASE PLEASE PLEASE- DO IT FOR YOUR BABIES!! (and your marriage) I realize not everyone on this site is a conservative christian by any means- and he does teach from a biblical perspective on finances. But even if you aren't a believer- you can find true real value in what he trains you on being wise with your money- insurance- real estate- wills- credit card companies- budgeting- getting deals- there is a lot of info in FPU.
Start with the book- then see what you think..

Better yet- I will mail you one if you message me with your address!? I will even include a CD on Dropping Debt!

(We give them to all friends getting married- along with Bed Bath & Beyond gift cards!?)

Plus you can listen online at Daveramsey.com - I like archives becuase I can Fast Foward the commercials?!

DO IT _ PLEASE_ It is just to important!!
You can actually leave a legacy behind for your children's children!

PS - Gas prices don't hurt as much when you have a couple grand in your savings account.
:-)

K.

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