Financial Peace University question

[m&m's mom]

My church is doing FPU starting soon. I am not sure if it would be worth it for me or not.
We have no debt except for the house, which is manageable. We have our DD's college already in savings (they are 9 and 12), we have savings in
401(k) but who ever knows if it is enough.
The area I am not sure about is a budget. DH and I have always lived comfortably so we have never actually tracked our spending. We just knew what was reasonable and if it was not we did not buy it. I really think we are wasting a LOT of $ by not really examining what we spend etc.
How much of FPU is budgeting and how much is getting out of debt?

 

[TexasMinnie82]

I would also like to know. Our church is starting this in a few weeks and I think my husband and I are going to do it.

 

[Dsnymouse]

Don't know about the financial class - but we live near you & have gone to Valley Creek. Just saying "hello"

 

[sbell111]

... How much of FPU is budgeting and how much is getting out of debt?

FPU is both. You both should attend.

 

[momz]

My husband and I took the class last year. But...we had debt. Still do actually. But the class really brought us together and helped us to develop mutual financial goals. Since taking the class, we have paid down a LOT of debt. Still have a little way to go, but will be debt free (except for the mortgage) this year. And oh what a great feeling to see that debt coming down. Our biggest problem was that he was living carefree. I was paying all the bills while he was making (and purchasing) his "wants". The best part about the class was that it helped us to have the conversations necessary in order gain some control. I think it helped him to realize what I've been having to deal with all these years, but coudn't communicate to him. Before the class our conversations regarding finances usually ended up with me crying and him not really "getting it". Not any more. It made a big difference not only in our finances, but in our marriage too.

 

[kittychatalot]

Me and the hubby did it and really loved it. it was funny- All the hubbies showed up the first night and slowly they stopped coming. the last class we had ended up being all the women, crying on my hubby's shoulder about their marriages.

 

[m&m's mom]

Don't know about the financial class - but we live near you & have gone to Valley Creek. Just saying "hello"

Hey There! Have you noticed EVERY SINGLE church in our area, and every one on Morriss is doing FPU? I thought it was funny.

 

[m&m's mom]

Me and the hubby did it and really loved it. it was funny- All the hubbies showed up the first night and slowly they stopped coming. the last class we had ended up being all the women, crying on my hubby's shoulder about their marriages.

I kinda have a feeling that would happen.
I have a minor in Financial Planning and know I have done most things right, I just need help w/ budgeting and getting my DH to quit wasting $.
It's always the guys, huh?

 

[disny_luvr]

I think it would be a great idea to attend! I'm not sure if Financial Peace University is offered in my area - I live in PA near Hershey. I only heard of Dave Ramsey a few weeks ago thanks to these boards. I recently ordered his book Total Money Makeover and received it last week. Both DH and myself read the entire book already. I also ordered the Cash Flow Planning DVD which strictly covers budgeting. It is a segment from FPU. DH and I watched it today and we can't wait to get started. I read a lot of forums on llnoe.com for some great advice too.

To the original poster - If you don't attend FPU I'd recommend ordering the Cash Flow Planning DVD. It will help with budgeting.

 

[marshallandcartersmo]

ok, I'll be the different opinion.

DH and I did the class about 2 years ago at our church. I started a thread on it and got several opinions----most said not to do it to check out the book at the library. We didn't listen, but should have.

Really, I thought the cost was too high (almost $100). Check out his most recent book at the library and you'll get the same info for free. Watch his show on TV every night, and once again---you'll get the same info for free.

JMHO

 

[micksterlee]

Seems like since my wife and I started following Ramsey's way we have done nothing but fight.

 

[tonilea]

We already had a very good marriage, but FPU really brought us even closer. My DH was never interested in a budget. He didn't want to know what our bills were. He didn't want to know how much debt we had. It was like if he didn't know, then it wasn't a problem. I felt like I was carrying a huge burden alone. FPU really made DH see that a budget was something we needed to work TOGETHER. We paid off over 13K in 15 months and were able to cash flow a new dryer (among other emergencies) and a bathroom remodel during that time without touching our emergency fund.

We count FPU as some of the best money we ever spent.

I think it could benefit you. We never had a budget and thought we were quite frugal...... It was amazing the money we were frittering away on little things.

I never understood how powerful a budget was/is.... it isn't something that ties you to a strict set of rules... It is a tool for planning how you spend the money you work so hard to get. If you prefer, rather than a budget (which has so many negative connotations) think of it as an allocated spending plan.

 

[tonilea]

Oh, and one more thing...

If you take the class, I really encourage you to do things EXACTLY like DR says - at least for the duration of the class. DH and I did that, and I think if we hadn't jumped in with both feet we wouldn't have been as successful.