This last Sunday evening we finished off our Financial Peace University class. Over the course of the last thirteen weeks, I had a front row seat to see some exciting things happen. The class of about 15 “family units” (FPU’s term that includes both couples and singles) paid off $15,690.00 in debt. Because of Dave Ramsey’s emphasis on tithing, I was interested in how the class might affect the class in the area of stewardship. So I asked our business administrator to track the tithing patterns from three months before the class started to the three months of the class. Aggregate tithing (the first time that phrase has been used on the internet) went up from an average of around $7,000.00 to around $9,000.000 during the course of the class. And there were other success stories.
In one couple, the husband went out and got a new job and they also yanked their Direct TV (A major sacrifice for them). Another couple decided to completely pay off their home mortgage (like this person). One lady decided that she could have substantial amount in savings and still retire by a certain age is she got aggressive in her savings. Another class member saved over $1,000.00 a year when one of the lessons led him to shop around his homeowner’s insurance with some other companies. One retired couple said that they were communicating more in general now as a result of working together on a budget. We even had one non-church member take the class after she read about it on Dave Ramsey’s website.
Overall it was a positive experience. I will mention two obstacles:
First, the course is expensive. The main teaching materials (DVD’s, facilitator’s book, etc) is $300.00, a sizeable chunk for our church. Additionally each student’s book is $90.00, another sizeable chunk for people who need financial assistance anyway. We did have some folks in our church who provided partial scholarships for families who needed one. Overall, there wasn’t anyone I’m aware of who didn’t take the class because they couldn’t afford it.
Second, the course is long. It is 13 weeks, two hours a week. That length of time knocks off a fourth of the calendar. It also makes scheduling other events in the life of the church difficult. We ran it on Sunday evenings after our worship service and it made for long evenings for the facilitators.
But despite these two obstacles, Financial Peace is well worth it. Ramsey’s last lesson may be his best. He puts financial peace in a larger context of proper stewardship of all things. I’d recommend it for any church interested in training people how to handle money according to Biblical principles and common sense.
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4 comments:
Has Ramsey ever given account for why he charges $90 per book for a course that is promoting good stewardship? Seems a bit . . . inconsistent.
I did say book in the original post, but it is actually more of a kit which includes two books and some other sundry items (cash envelopes, CDs, budget sheets, etc). It also includes the fee for the 13 DVD lessons that accompany the classes.
Paying off an average of $1,500 in debt over 13 weeks more than covers the $90.00. You are correct in pointing out that it is expensive, particularly for people in finacial difficulty. We did offer scholarships for those who needed it however.
That is an awesome story!! We did FPU online and loved it. Personally I feel so compelled to have it our church but so far it has not happened. Although I do know when the time is right the Lord will provide a way.
Personally we learned so much and made changes to our health insurance and life insurance. DR has such a way of explaining things and really breaking them down to the average person
Just for Bruce's benefit...FPU IS available @ a much lower cost for family units that fall into the poverty range that are seeking assistance. The class for that is entitled "FPU literacy." The cost for the class is cut by more than 50%.
PT girl
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