Question

Has anyone attended Financial Peace University? If so what are your thoughts? Is it worth the money? (I know, I know Dave Ramsey but anything that will help).  

Answer 1

The group aspect is really what's useful. My parents had me go through it during middle school, and I honestly got far more benefit out of the LMM podcast personally. Everything in the program is easy to find for free (which is its own boon for personal finance), but finding that financial support group can't always be so easy.  

Comments

@cube I’ve tried getting out of debt on my own and come a long way but I still have a lot more to pay off. I do way better when I have people that are going through the same thing to talk to. Just don’t know if it’s worth the $120

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@vesiculate9 the concern there is also that the program has an end date. If your debt isn't paid off by the end of the program, you're potentiallly back to where you are now, but with $120 less. I would plan for what you're going to do after the program ends, then consider if it's possible to do that now.  

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@cube that’s a great idea! I’m really having an issue with that $120 class fee. I think it’s high for a class to help you get out of debt

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The program has an end date if you show up to class and then that’s it. Plenty of opportunity to make friends with the same goals as you, build a network of like minded individuals and hold each other accountable even after the 9 weeks is up.  

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How much are you paying a month in interest right now @vesiculate9 ? How many months worth of interest payments will it take you to make the $120 back after you’re out of debt?  

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@iconostasis23 that’s a good point. I seriously don’t have the $120 to spend anyway. That $120 would be just a little more then the interest I’m paying per month on my credit card

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You already have the credit card, what’s another $120 to throw onto the debt snowball?  

Answer 2

Another stoking of the controversy fires I see.  

Answer 3

Plenty of people in this group don’t think they need his program that definitely do. No shame in signing up, and if you need the accountability it is worth every dollar. My wife and I ran the baby steps after just listening to the podcast and reading Total Money Makeover, so it’s not necessary to do it but we weren’t exactly “stuck” when we did it. If you’re stuck and need the motivation, I haven’t seen anything more effective than drinking the Kool-Aid at the FPU classes.  

Comments

@iconostasis23 thank you! I’m definitely stuck and think it would help to have a support group that I can actually go to

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@vesiculate9 the group can definitely help. I've taught a few classes, they are good if the support group motivates you.  

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For my money there is no better way to jump start your finances, get and stay on track than FPU. Sell out to it though. There is no “sorta pregnant” when it comes to the baby steps.  

Answer 4

I’ve kind of been drinking the Dave Ramsey koolaid but I’m in debt and getting out of debt blows. Sooo listening to somebody yell at me about how stupid I am motivates me to actually pay down the debt. I could do without all the god talk but ‍♀️.  

Comments

@burschenschaft exactly how I feel! I need someone/something to help me pull my head out! I wish LMM had support groups that meet monthly!  

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@vesiculate9 I haven’t paid for FPU or any Ramsey products. It’s not like I’ll burst into flames or anything but the fact that my broke ass would have to pay a millionaire to go to church reaaallllyyy turns me off. I just listen to the podcast and it works for me!  

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@burschenschaft I agree!  

Answer 5

I took it and also have led it. It changed my life! Highly recommend for learning how to budget, get out of debt, etc. Even his basic investing principles have served me very well.  

Comments

@valparaiso thank you. I need the help

Answer 6

You could do FPU online. You get recorded classes along with every dollar (his recommended or "approved" budgeting app. I do have disagreements with his plan but its a proven strategy that has helped millions get out of debt and have financial independence. I have seen hundreds follow this plan and it truly transformed their lives. I will say Beans and rice, rice and beans. If you are serious and willing to do anything the Gazelle focused plan may be for you! Side note stay far far away from Dave recommended vendors. It's just a advertising platform so he can make more money off of you.  

Comments

@tali787 thank you. If I do it it will be the meet up group. I’m really mostly looking for a group setting. Online I’ll probably come up with lazy excuses to put it off

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@vesiculate9 understandable. Locally several employers have had someone teach the class if your looking for a non religious place to try. I have heard some of those are public from time to time.  

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@tali787 I’ll keep looking!  

Answer 7

Also. If you have a quality VPN.  Not that I would condone such things.  
https://thepiratebays.info/search/D.../99/0

Comments

Why steal it when he gives it away for free?  

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@iconostasis23 FPU isn’t free.  

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@burschenschaft call his show. Have a sob story. Free FPU.  

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I mean the group isn’t free but he has the baby steps and all of his content everywhere.  

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OP said she was worried about the $120. ‍♀️. I’m good with his free content.  

Answer 8

Best thing I ever did was attend FPU, but it didn’t cost anything unless you wanted to buy the material . Been debt free aside mortgage since 2015

Answer 9

Since he gives everything away on the air for free, I'd say NO, so long as your spouse is already on board

Answer 10

I think the course is good for people who need help and accountability. He has a tough love approach. Though personally I don't subscribe to him as he's too religious and old fashioned for me. I also disagree with his views on commodities and the way he expresses them.  

Answer 11

I like the program alot. I bought a coordinator box for only $40. It helped me refresh and yes, I learned new things. it can be quite basic for advanced people maybe, but it sounds like you're needing a foundation like I was. I had nothing a year or two ago and now I'm purchasing my first home. I actually had an interview with Dave Ramsey Solutions this week haha- I think they liked me, but they don't hire remote. I'd have to move to Tennessee. Yes, do it! and if you like community, look for a community putting it on and purchase your kit through them.  

Answer 12

I bought a used copy at my local thrift store. I think it’s a wonderful start for someone. It could be life changing.  

Comments

@transmigrant Vanzant good idea. I’ll see if I can find one

Answer 13

DR is the man. Ive been a follower for 10 years or so. Although I dont follow the steps to the letter of the law I have done better financially better than i ever dreamed of. Old fashioned ways are FULL of wisdom

Answer 14

DR is Personal Finance Lite. Its a psychology class for money management, not a personal finance optimizer. Why would I NOT contribute and get free 401k match? Why would I NOT put a large purchase on a credit card with 2% cash back or with a 60k points with $4k spend bonus and pay it off immediately? The reason: it doesn't fit in with psychologically changing someone's view of money. When it comes to raw numbers, the CC spend and the 401k match are hands down no brainer better.  

Comments

Good point if you can handle it psychologically and have the emergency cash you need it makes sense to put to a 401k and use cash back. If you're a compulsive spender, using a credit card is dangerous and I've been frustrated that I can't get money out of my 401k for what I consider to be emergencies. I literally need the 401k contribution to have a chance at paying down my debt. It kills me to leave an extra 3% but I need to pay debt pretty urgently.  

Answer 15

It might be worth looking into your local community education programs to see if there are personal finance classes available, especially if you’re looking for an in-person group. Check your local library, too!  

Comments

@manual great idea!