Dave Ramsey Financial Peace University Review: Week 6

This week’s lesson was about the power of marketing on our buying decisions. This was my favorite lesson so far. Being a finance/consumer nerd, this kind of stuff really interests me. Dave starts out by telling us that we live in the most marketed and advertised culture in the history of the world. It’s no secret that companies want your money and that many resort to deception and trickery to get it. Even when they aren’t resorting to sneaky tactics, they are bombarding you with ads to get you to buy their products. Some statistics that Dave threw out:

  • The average person is exposed to 3,000 – 4,000 ads per day through radio, TV, billboards, flyers, etc. (This is up f


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14 Responses to Dave Ramsey Financial Peace University Review: Week 6

  1. Doug says:

    I’m curious about your fear of walking around with cash, since in my experience that fear is unwarranted.

    Do you live in a dangerous area?
    Have you been the victim of mugging before?
    Are you shopping at night, when pretty much all muggings occur?

    I ask because my wife had the same issue. But there was no data to back up her feeling; it was simply an irrational fear. And after paying cash for everything for two years, she’s come to accept that some bad guy’s not gonna jump out from behind a bush and take her purse.

    Remember the acronym: FEAR= False Evidence Appearing Real

  2. Julie says:

    I have been on the envelope system for 45 years and I love it! I give my husband an allowance and I pay all the bills myself. I have never been mugged for cash either!

  3. Baby123 says:

    The envelope system works with a debit card if you simply write your budgeted amount on the top of each envelope and then subtact from that amount with every purchase. You can use the envelope for the receipts.

  4. Princessperky says:

    well just in reading this article, there are technically 5 ads I was ‘exposed to’. mutiply that by dozens of articles, blogs and websites, that I will visit in the next 30 minutes, and you get a rather large number.

    But I had to scroll back up after reading before posting my comment to find them.

    So I think in general some of the 3-4K statistic is a bit overrated.

    TV on the other hand, unless you always head for a bathroom break, those ads you really see. And being a passenger in a car, I read far to many billboards.

  5. Tom says:

    I think Dave may mean that if you watch 5 hours of TV per day, you spend about $1000, for the entire year, more than someone that doesn’t watch TV. ($200 * 5).

  6. Ofelia Conejo says:

    Why would someone watch 5 hours of television a day when they could be doing some activity that would save them some money of help others? Do your own yard work, house work, prepare your own meals from scratch. You will save lots of money and avoid the adiction to television.

  7. Chi-Ming says:

    I’ve also heard of the statistic of number of ads we’re exposed to in a day and it is a bit frightening. In our household, we’ve made a conscious decision not to own a television to cut down on that a bit for our kids.

  8. NoDebt2 says:

    Maggie, I agree with you that its somewhat risky running around town with envelopes stuffed with cash. I remember how difficult it was keeping track of my purse & small children while running errands years ago – especially in the market. Even without the mugging or robbery factor, its far SAFER to NOT carry the cash, which COULD be lost.
    I’m more comfortable with my CC or DC in my pocket… never lost either, but i have had $20 or so of cash fall out of my pocket on several occasions!

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  11. Fred says:

    The way that I have done the “envelope system” may help with the carrying cash issue. . .

    I use a debit card for all my purchases. My periodic expenses (gas, food, entertainment, etc) are written on a sheet of paper that I keep in the same way that I would keep a check register. So, on payday, I put $150 at the top of the food register, and keep track of my expenses toward food from my debit card on that seperate register (nee envelope). This helps me keep those types of expensees under wraps.

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  13. dave johnson says:

    Is there any data to support a thieves targeting Dave Ramsey groups who are now found with cash in hand and at home?

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