Dave Ramsey Financial Peace University: Week 3

This is a series of posts about what you will find in Dave Ramsey’s Financial Peace University course. This is week three (week one and week two)

The lesson for this week was cash flow planning, also known as budgeting. You could see everybody approaching this lesson with trepidation. Not only does it mean more work, but it means finally revealing the true depth of their financial problems. Many people have avoided this because they just don’t want to know how bad it is. I sympathize. When we were first getting serious about money, we sat down to make out our budget and had one of the least fun evenings of our lives. We weren’t in bad shape, but it was a pain to dig out the


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10 Responses to Dave Ramsey Financial Peace University: Week 3

  1. Holly says:

    You can use an envelope system for cash purchases w/ a credit card. I do since I want the rewards.

    I take $x weekly for household expenses (groceries, gas, personal care, pet7 household supplies) and $y monthly for fun. I do charge to my cc BUT come home and move the $$ from the envelope and put it w/the receipt in a different envelope marked cc charges. When the bill comes i have the real$$ set aside to pay it.

    Basically, it is just like saving 1/12 of your Christmas spending every month.

  2. Annie Jones says:

    If you don’t like the idea of having real cash in envelopes, you can do what I do and use a computer program called Budget for Windows (I think there’s a Mac version, also). It’s a very easy to use, affordable program and the company, Snowmint, gives wonderful support when needed (which isn’t often at all). Any upgrades to the program are always free.

    The program gives you a virtual envelope system to work with, but your money stays safely in the bank. I’ve been using it for 6 years and can’t imagine budgeting any other way.

  3. Rick says:

    Thanks for posting. My wife and I are thinking about taking the course this fall. It’s nice to get a sneak peak.

  4. Mark says:

    Thanks for your series on Financial Peace university.

    Regarding your comments about paying God first . . . Giving in the church is such a taboo topic because the leadership and the congregation have a conflict of interest in addressing it. Church leadership feels uncomfortable bringing it up, generally, and most congregations get suspicious any time the topic of money is raised that they will be hit up for more cash. As a result, most churches truly are ignorant about what the bible says about money.

    That’s where things like FPU and other programs of it’s ilk are trying to bridge the gap of educating congregants by giving practical advice on how to manage what we are entrusted, with leadership quietly hoping that giving will increase as a result of such classes. I just hope that the spiritual perspective on money is not glossed over in these sessions (Matthew 6:21).

    10% is a great starting point, but if anyone is focused on the percentage, they are missing the point. God owns everything. We just manage what he gives us. That we are simply returning what is already his is an exercise in practically showing his prominence (or not) in our life.

    Micah 3:8. Is the only passage of the bible where God challenges us to do something (“Test me in this.”). There’s a reason. You can’t outgive God.

    Now this is not to say that you blindly give to anyone with a hand out, discrimination is needed.

  5. Julie says:

    I have used the envelope system for everything in my budget for 45 years. It has always worked great for me. One time I tried doing it on paper, but I went back to the cash in the envelope method.

  6. Tim says:

    Found your blog through mine, I’m following Dave Ramsey’s course as well and I happen to be on week three also. I love your posts about the class.


  7. Jim says:

    Interesting articles, although I think it would be a much more objective review of the class from someone that actually needs it and goes through the process without a bias.

  8. Ben Stutts says:

    First, I am a Christian. As to giving to the church, I see too many who give a percentage blindly. Look at your church. Is the pastor living better than you? If so, and you really need the money, please do not feel guilty about not giving a full 10% (or whatever).

    I have a Son in law who insists he absolutely must give 15% of his gross income. His church is one of the largest and most beautiful in town, the pastor lives in luxury with several vacation trips a year to expensive resorts. While my Son in law is losing his house. He refuses to reduce his giving because God demands it!(the preacher says so) Please people, God doesn’t need your money. The money you give is to support your church. How much support does your church really need?

  9. I teach workshops showing people how to eliminate all of their debts. I don’t believe in budgeting because of the difficulty to keep account of it.
    The envelope system was great when we were a cash society but not today in a cashless society.
    However, I believe in having a spending plan. There are free, online programswhich you can use to track your spending. http://www.mint.com is one.

  10. NoDebt2 says:

    As far as “tithing” 10% of one’s income to the church goes, there is nothing wrong with doing so. BUT if you have debt, particularly debt you are having trouble paying or are behind on, then you are in effect giving SOMEONE ELSE’S MONEY AWAY, when you fail to FAIL TO PAY WHAT YOU OWE to OTHERS first! Pay your debts first, don’t cheat others by giving their money away instead of paying them back… Really, God will understand!

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