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Makarios (jay!)



Joined: 06 Mar 2012
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re: Financial Peace University

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Friends,

RE: Financial Peace University site

My wife and I have been married for 8 years (will be 9 in November) and have a 3 year old daughter and a baby boy on-the-way in 6 weeks. We need financial stability in our lives. At the suggestion of friends and co-workers we were told to go through Dave Ramsey's "Financial Peace University". I thought we could do it online...no, for something like this we need to (personally) do it in the meet-once-a-week class environment. So we began that journey this past Tuesday night. First impressions were good.


Wanted to know if anyone in the community has ever attempted/ completed/ or even thought of doing this program or something like it?

My back story goes that I was raised by a single-parent Mom environment and so anything financial I had to learn on my own. It is my prayer that through this program our family can gain financial stability and focus. Another "different" side of the particular program that I've noticed is its structure around giving...that is something that has been honestly lacking in our current setup.

God Bless, Jay


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Euron(Danny)
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My wife and I did it with out church about 7 months ago. We have our emergency fund and have been paying off debt. We are still using a cash system for everything and it has brought peace for us. I am a teacher and my wife is a server at a restaurant and so we don't make a whole lot, so the budgeting has been a huge thing for us.

We keep a list of our debt totals on our fridge, and while we aren't able to make a huge impact on it, we have payed off multiple debts, including one of our student loans. These little victories are awesome. Our goal is to be completely debt free within 5 years. Keep in mind this includes an astronomical amount of student loan debt.

I cannot speak highly enough of this program. It is not always easy, but it is worth it. There is nothing better than going out to eat for dinner knowing that you planned for it and budgeted it. You are able to relax and enjoy it rather than worrying about what bill will not be paid because of it.


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“Whoever drinks beer, he is quick to sleep; whoever sleeps long, does not sin; whoever does not sin, enters Heaven! Thus, let us drink beer!”
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SaintVassago
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I personally have not taken the course, but have heard tons about it. My wife and I don't have any debt, and we don't plan on taking any on either. Thankfully God has seen to our needs more than any of us could have imagined, and so I haven't needed to find a way out of debt. We do live on the same cash system that Dave Ramsey outlines in his program though.

I'd really encourage anyone who's in need of getting out of debt, and staying that way, to take this program. It's fantastic.


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Vly
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I haven't used it personally, but my brother and his wife have and it has been a blessing for them. I think it's a wonderful program for sure.

I can share some personal experience with giving. I've always tithed, but until a couple of years ago I did not tithe as is instructed in the bible. My brother challenged me on this and so even though I was changing career paths and didn't have much extra cash I decided to strictly give 10% of all my earnings. This included a tax return that my wife did not agree on giving 10%. Before the end of the year I had found a job in my new career field making more than I have ever made. One year after being hired on I received another, very unexpected, pay raise. God has truly blessed my family. I strongly encourage you to as God instructs because he promises to bless us and he always comes through on his promises.


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DeltaFiveBravo
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Know God will always be there for you and yours. Many blessings upon your family!


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Makarios (jay!)



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Euron(Danny) wrote:
...These little victories are awesome. Our goal is to be completely debt free within 5 years. Keep in mind this includes an astronomical amount of student loan debt.


I too have a lot of student loans, In the past 4 years I acquired another one since i was laid-off for a year and thought that going back to school was the fix. Turns out, it was not.

SaintVassago wrote:
...My wife and I don't have any debt, and we don't plan on taking any on either. Thankfully God has seen to our needs more than any of us could have imagined, and so I haven't needed to find a way out of debt. We do live on the same cash system that Dave Ramsey outlines in his program though.

I'd really encourage anyone who's in need of getting out of debt, and staying that way, to take this program. It's fantastic.


Thanks, Vas, it's encouraging to hear that the cash system works even for those that are not currently in debt.

Vly wrote:
... my brother and his wife have and it has been a blessing for them. I think it's a wonderful program for sure.

I can share some personal experience with giving. I've always tithed, but until a couple of years ago I did not tithe as is instructed in the bible. My brother challenged me on this and so even though I was changing career paths and didn't have much extra cash I decided to strictly give 10% of all my earnings. This included a tax return that my wife did not agree on giving 10%. Before the end of the year I had found a job in my new career field making more than I have ever made. One year after being hired on I received another, very unexpected, pay raise. God has truly blessed my family. I strongly encourage you to as God instructs because he promises to bless us and he always comes through on his promises.


Vly, thanks for sharing your brothers blessing and yours! The tithing thing has been a hard factor for us both to regularly do and there are some in my family that are less fortunate than I that I hope this program will see fit to help give more. I don't mean to be an enabler, but a giver from the heart.


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Wildbillkickoff
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I have personally used Financial Peace. Backstory: in 2008 we were in $40k unsecured debt, behind three months on our mortgage, $60k in student loan debt. We ended up short-selling the house, and owed $39k on the second mortgage. As a couple, we made around $70k gross per year.

Fast forward 5 years. Unsecured debt will be paid off-- in full-- in July. Second mortgage paid off (negotiated down to $10,200). Student loans at $42k and diminishing. We did this in a time when for 4 months I was on unemployment and for a full year after that, I made $9.22 an hour.

In short, it works. It's hard, it's sacrifice, but it works.


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Szhnabeltier
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Joined: 31 Oct 2011
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Never heard of "financial peace university" before now, but I've listened to Dave Ramsey on the radio for quite some time.
I personally can vouch for his methods... I've used them my whole life... not because of Dave Ramsey but because, well, that's what my Mom taught me to do, .
Only loans I ever took were a student loan and a home loan (paid off now). I'll tell you at least this much: Using cash instead of credit will reduce the amount of stress and worry you feel.
Also, tithing/donating to the poor (I've found most charities are actually a hoax) is, IMO a command from God so it will naturally make you feel better.
The list goes on, as I understand it, Mr. Ramsey gets his inspiration from the Bible, so an option is to, well, READ it, and apply it to everything in life, including money.

Oh, and personal advice: I like the envelope method. It works REALLY well if you stick to it.


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Vly
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Wildbillkickoff wrote:
I have personally used Financial Peace. Backstory: in 2008 we were in $40k unsecured debt, behind three months on our mortgage, $60k in student loan debt. We ended up short-selling the house, and owed $39k on the second mortgage. As a couple, we made around $70k gross per year.

Fast forward 5 years. Unsecured debt will be paid off-- in full-- in July. Second mortgage paid off (negotiated down to $10,200). Student loans at $42k and diminishing. We did this in a time when for 4 months I was on unemployment and for a full year after that, I made $9.22 an hour.

In short, it works. It's hard, it's sacrifice, but it works.


Awesome Bill! Congrats to you all for sticking to it!


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Makarios (jay!)



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UPDATE: (week 2)

My wife and I have hit baby step 1!

Now we are fine tuning our budget. We found out that I am the NERD and she is the FREE SPIRIT. She has been doing all our finances up until now...not that she was doing a terribad job, its just been one-sided and I've always desired to be a part of it all but had a "Meh" attitude. No longer, we have been together on generally all things in this marriage adventure and our finances SHOULD be in the top tier of planning/ execution.

Thanks for all the support and I pray that my RED brothers & sisters are seeking financial peace (not necessarily this program) and doing so with God.

Regards, Jay


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Wildbillkickoff
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teh_jay wrote:
UPDATE: (week 2)

My wife and I have hit baby step 1!

Now we are fine tuning our budget. We found out that I am the NERD and she is the FREE SPIRIT. She has been doing all our finances up until now...not that she was doing a terribad job, its just been one-sided and I've always desired to be a part of it all but had a "Meh" attitude. No longer, we have been together on generally all things in this marriage adventure and our finances SHOULD be in the top tier of planning/ execution.

Thanks for all the support and I pray that my RED brothers & sisters are seeking financial peace (not necessarily this program) and doing so with God.

Regards, Jay


Great job Jay! In five years, you will not regret the sacrifices you're making now!


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Vly
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This is giving me some motivation.


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