Thread: Financial Peace University

We took the course...it was beneficial in getting us to start budgeting. BUT I am not going to eat beans and rice so that I can live like a king later. We live within our means, but allow ourselves the "luxuries" we want as well.

Originally Posted by Romans828

Well, if that's the case, FO, I don't see the point in spending the $100 for the course.

Why not just make a monthly budget (if you don't already have one) and stick to it, while also establishing a savings account (if you don't already have one)?

In my opinion, Dave's philosophy is pretty simple: Don't live beyond your means, don't use credit cards, pay in cash, and if you don't have the cash, wait until you have saved enough to purchase big-ticket items in cash.

If I recall, he doesn't expect people to pay for homes in cash, but he does advocate buying low-mileage, older vehicles in cash...Now, while that makes good financial sense, it may not be feasible for most people - I don't think the "average person" has an extra $15,000 - $20,000 just sitting in the bank these days.

His point is, "Live like a pauper now, so that you can live like a king later."

Of course, this kind of thinking flies in the face of the "Prosperity Doctrine," but the people teaching and preaching that mess aren't helping you with your bills, either are they? :BigHug:

I was looking at his website last night, and I saw what he calls "The Seven Baby Steps", which I may give a try..I'm still mulling all of this over. At this stage in my life, I KNOW I need to handle money better, but at the same time, I want to "live"..kinda like what Lista was saying--not living on beans and rice, but not living from check to check either.

ETA: Actually only five steps are applicable for me--Steps 5 and 6 aren't.

Originally Posted by Romans828

In my opinion, Dave's philosophy is pretty simple: Don't live beyond your means, don't use credit cards, pay in cash, and if you don't have the cash, wait until you have saved enough to purchase big-ticket items in cash...

Of course, this kind of thinking flies in the face of the "Prosperity Doctrine"...

I don't think so at all, all of the ministers I have sat under who are considered 'prosperity preachers' tell you to stay out of debt, that if you can't pay cash for something then wait, don't buy it until you can pay for it in full.

Personally in all the years that I've had credit cards I have never paid any interest or finance charges, I only charge things out of convenience if I know that I can pay it off in full during the grace period.

Originally Posted by FaithfulOne

I was looking at his website last night, and I saw what he calls "The Seven Baby Steps", which I may give a try..I'm still mulling all of this over. At this stage in my life, I KNOW I need to handle money better, but at the same time, I want to "live"..kinda like what Lista was saying--not living on beans and rice, but not living from check to check either.

ETA: Actually only five steps are applicable for me--Steps 5 and 6 aren't.

I wasn't familiar with him at all but from the little I've seen so far, I like what he's teaching. Here are those 7 baby steps:

https://www.daveramsey.com/baby-steps/

Originally Posted by FaithfulOne

... I KNOW I need to handle money better, but at the same time, I want to "live" - Not living on beans and rice...

I hear ya, and that's why making and sticking to a budget works - You can also "budget in" your *Entertainment/Vacation/Shopping $$$$* as well.

EDITED TO ADD: Krys, how I admire your discipline, Girl - I got so behind and in trouble by only paying the "minimum amount due" on the couple of credit cards I had, which was why I had to cut those bad boys up - LOL -

Originally Posted by Romans828

I hear ya, and that's why making and sticking to a budget works - You can also "budget in" your *Entertainment/Vacation/Shopping $$$$* as well.

Oh yeah, you gotta have some fun allocated in there somewhere...I allow myself periodic 'controlled splurges'. ;)

Originally Posted by Ezekiel 33

It does have lots of good teaching on how to get out of debt. It also contains the false doctrine of tithing as a huge part of it.

well, it had to show up sometime.

Originally Posted by Ezekiel 33

It does have lots of good teaching on how to get out of debt. It also contains the false doctrine of tithing as a huge part of it.

I knew it!

I am DEBT FREE!!!!

And I didn't need Ramsey to do it. I just followed the Bible and paid my tithes like Jesus says to do. I have not been in debt for years.

God is Good!! All the time!