Review of Dave Ramsey’s Financial Peace University
Dave Ramsey claims to teach people how to manage finances, get out of debt, save money, and make good investments. He is the author of a number of books on personal finances and has a syndicated prime-time radio show in which callers describe their financial situations and get free advice. The first website linked above is the home page of what is surely becoming an empire. I’ve tried just one little fiefdom in the Dave Ramsey financial advice empire: Financial Peace University (FPU).
It’s a 13-week course, complete with textbooks, homework, and class sessions. The class meets one night a week for two hours and teaches the basics of money management. FPU’s main claim is regarding the past success of its 300,000+ students:
On average these families have paid off over $5,300 in debt and saved $2,700 during this 91-day program!
I was skeptical. But my money management skills are those of a 12-yr-old (ooh, something shiny! Me buy now!) and I have the debt and saving rate to prove it. In short, I had little to lose. So if I could just meet the advertised averages of savings and debt reduction, that would help a lot. And I just might learn something. So I paid my $90 and enrolled in what is certainly the cheesiest-sounding university I have ever attended. The first class was last night (check back later for pictures of the materials and my first impressions). I’ll keep you posted.
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Hello I am currently taking the Financial peace course. The factory I work at is sponsoring it for their employees. I have seen on the net that his “math is bad” or he is a “hypocrit” or he filed bankruptcy, just what ever. He might be off in some cases on some things, no one is perfect; But he gives hope to those who have messed up big time.I can see a light at the end of the tunnel from taking the classes and I am not going out in a bankruptcy in the end. I love the classes and think it is great work is sponsoring his course.
I hadn’t heard those criticisms of him. I still think it’s a good class. In fact, I just paid for my brother and his fiance to take it. Let me know how it works out for you.
Don’t get me wrong that is not what I believe, It is just something I read while searching the net. I think the class is great and I get to graduate next weekend from the course and it has really transformed how I think. I am handing out my kit to my younger brother and sister. As far as the critisisms, they were hacking on his debt snowball step, he says to start with the least amount and pay it off while some beleive firmly you should start with the one with the largest interest rate. To make a long story short he says to do that for the phsycological affect, hope I spelled that right, of nocking out some debt, and he knows about the interest rate thing, but like he says; if we were good at math we would’nt have credit card debt.
Just the fact the man tells people to give 10 percent to the scammy churches , is enough to tell me that his program is a financial program that is the mask of religious zealotism.
I’ve read many financial books and Dave’s is very logical. If your in debt, stop spending,pick up a part time job. He tells you have a plan stick with it and you’ll make it.
oh by the way I also do not attend church for my own reasons but the 10 percent tithing can be to anything that feels right to you. your church, the youth, the homeless, animal welfare, the abused. The list goes on and on. It is our responsibilty to make sure that we take care of ones in need. We must give of ourselves and be thankful everyday that we live in a country with so many possibilities.
I think anyone could benefit form taking this course. It is a simple math class yes !! It should not be complex to do the right things with our money. It is basically run like a business should be. If you were to follow this course to the letter I guarantee you would be better off. In the class I was in out of 30 people I would say 75% were in debit in a bad way. I was not in debit but I wanted to get better a planning for my future and this class made me way more accountable to that goal and now I have no reason not to be where I want when I retire. As for the 10% thing, for those of you who are faithless or do not like God you should not do it just keep it, that is for us who do. But if you do believe them is a no brainier.
I’m going to my first class tonight. Wish me luck!
I went to the class and I have finally have hope for my financial situation.
I’m post a whole series about Dave Ramsey’s Financial Peace University right now because we’re taking the class as well.
I think a lot of people take Dave to task for his “bad math” and because he is so brutally honest about some things. I think he is great at what he does, and that if people were to follow his program, they’d be better off.
Dave’s material is good - simplistic and fundamental - sure he’s a hypocrit, sure he defaulted on all his debts and filed bankruptcy do to a bunch of bad real estate decision, sure he play the system to wipe the slate clean and start fresh.
But hey, do what he says, not what he did.
If he’s the catalyst to save money and pay off your bills do it - millions listen to Oprah!
People fall into 2 categories… they need to be told or reminded. Dave is a great person to TELL you what to do.
MM