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Dave Ramsey’s Financial Peace University
My wife and I are participating in Dave Ramsey’s Financial Peace University at our church starting tonight. I am sooo excited (I know, that probably sounds pretty weird, oh well) I’m very excited because my wife and I are actually taking the class together. I have read a bunch of personal finance books and blogs, talked to various financial advisors, discussed these topics ad nauseum with friends (just ask my friends), and even completed the Crown Financial class previously. I have done all of these things by myself, however. So, I am pumped about my wife and I going through this process together.
Financial Peace University in a nutshell
Here’s Dave Ramsey’s FPU in its simplest terms: debt is bad. Now, obviously there is a lot more to the class (I sure hope there is as there are a total of 13 lessons!), but that is the crux of his message. Here are some statistics he presents:
- Only 32% of Americans could cover a $5000 emergency without going into debt.
- A Parenting Magazine poll indicates that 49% of Americans could not cover even one month’s worth of expenses if they missed a paycheck.
- The US savings rate for 2006 was -1% – the lowest since the Great Depression.
- Total US consumer debt was $2.7 trillion in April 2006, the highest level ever.
Well, that’s not looking so good but contrast the thoughts aroused by those statistics with this teaser Dave presents in his workbook:
Imagine having absolutely no debt – no car payments, no credit card payments, not even a house payment. How would it feel to actually get to keep your money instead of mailing it out to a dozen creditors month after month?
Ahhhh, doesn’t that sound nice? If so, check back each week as we progress through the class (or better yet, find a class in your area to attend yourself). I will be doing a post, a debrief if you will, on each lesson. I’ll go over the main topics covered that week, mention some interesting points raised during the discussion, and touch on what I found to be most profound. Well, this was the intro post…I’ll start with our first debrief tomorrow.
Ramsey wraps up the introduction like so:
It’s time to change your behavior, take control of your money, and finally take your place on the road to Financial Peace!
Woohoo!! I’m pumped! Let’s go! (ok, calming down now…)
Related Posts:- Financial Peace University – Wrapup...
- Financial Peace University Lesson 11 – Working in Your Strengths...
- Financial Peace University Lesson 1 – Super Saving...
- Financial Peace University Lesson 13 – The Great Misunderstanding...
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3 Responses to “Dave Ramsey’s Financial Peace University”
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That sounds quite a bit like a book I’m delving into, on money, debt and developing your own money vision while adhering to basic Biblical principles on money. It’s “Financial Purity” by Jessica Psalidas. If you’re in this class, and reading financial self-help books, and looking at Biblical principles as well as financial ones, I think you’ll really like this one.
Liz´s last blog ..lizreads: Just noticed my last comment about Kanye. Hey — Obama agreed with me! Prbly not good for hom actually to say, however.
@Liz – Thanks for the suggestion. I’ll take a look at that book and put it on my read list.
Harumph — my comment disappeared. I’ll try again.
Somewhere in the past several days I saw a reference to the top 88 (I think — and what a funny number to use!) books on personal finance. I’m going to look for it again, and see what’s on it. Of course, I could be setting myself up to go bonkers with all that advice out there!
Happy weekend everyone.
Liz´s last blog ..lizreads: Still gorgeous out. Time to take a walk