Credit Debt Cures

Have you ever taken the Financial Peace University by Dave Ramsey?

Its a class to help with your personal finances... Ever heard of it? Taken it? Worth the money or a get rich scheme? Thanks!

Public Comments

1. no sorry
2. Don't waste the money. Dave Ramsey is just another hypocritical, blowhard hack. I'll give him credit for the fact that he has a fairly decent idea for eliminating debt, but it not anything that hasn't been done before. His "no credit" approach to life is downright dangerous. I feel for his lemmings when they have to finance a car or a house. Just start doing some research. Believe me, there are better options out there that you can find for free.
3. Go to your library. check out "Total Money Makeover" See if you agree with Dave's philosophies.
4. Dave Ramsey's Financial Peace University is a way to get out of debt and learn to manage your money. It is not a "get rich quick" scheme. If you have debt and do not know how to manage your money well (no debt, saving for retirement, saving to become wealthy), it is a good way to learn, Because it is a 13 week class, there is a built in support group to help you when the going gets rough. I have never taken it but I have heard wonderful things about it. While it is most often held in churches, it is also taught in high schools, on military bases, and some employers offer classes. I think that it is "on sale" now for the holidays. You would have to check the website.
5. I have taken his class. It is great and we recommend it to everyone. It is not a get rich quick scheme. He has a saying this is a crock-pot approach not a microwave. Meaning it takes time to dig out of the hole you created for yourself. This program helped us get on the same page financially. I have, after the class, read the book The Total Money Makeover. My husband hasn't read either book (he doesn't enjoy reading) and he just took the class and helped do the workbook; just with that it helped us get on the same page. Now when we question what we should do, we use the books as a reference guide to settle disagreements. The program is 13 weeks and it is very well laid out. You do build a support group with the people in the group and you can take the class over and over again with no additional charge for your entire life. In addition, he just said (on his radio show) that the program is $99 for a limited time. Dave didn't create this system. The debt snowball has been around for a long time, the difference is he knows how to package it, present it and teach it so people DO IT! The key is he tells us to change our behavior, until you do that, you will keep getting what you have been getting. I highly suggest you take the course and if you are married, in a relationship, engaged, etc- take your significant other with you!! The classes are often held in churches because the cost is less expensive verses a for profit company having the class. In addition he uses Biblical principles to support getting out of debt (so some see it as Christian financial counseling). Even if you don't believe the priciples still make sense without the Bible. Also it is proven for churches if the congergation is out of debt, the church succeeds and the congergation is less stressed and can help the less fortunante.
6. It was a get rich scheme for DR since he made millions telling people they need his books to learn what common sense is. His descriptions of common sense is not new edge since many self help books, whether it be financial, self improvement, contain many common sense tips. If a person who wants to improve their common sense and increase their financial knowledge then that's great, people can pick up any one of those types of books at their local library or visit FREE websites and learn. The big problem is, much of DR's financial tips can actually do more harm than good. When a person decides to cut themselves off from credit, rather than learn how to manage their credit, they end up paying for it sooner or later. Dealing in cash only means no credit and no credit score. No credit/credit score means a person could lose out on a job opportunity that they want/need, denied a rental home, higher rates on insurance, higher rates on loans such as mortgage, etc.,. Yes a person can "try" to get a mortgage without a credit score but they will have to shell out the extra and unnecessary expense to hire an underwriter to look over their loan application. Even IF the underwritten loan is approved it would be highly doubtful that the interest rate would be even near the best terms. Whereas, if a person learns how to manage credit then that person can save money and in many instances even make money off of their good credit. ie cash backs with major credit cards, discounts (major or minor discounts) when using store charge cards. A credit smart person would also see the best terms on major purchases (homes), pay less for things that are required (insurance) [The people who are cash only normally pay higher rates and are the ones who make it possible for others to receive the lower discounted rates] The credit smart person also is in a better postion of getting the job (even if they are not quite as qualified as the no credit person) If a person does any reading on the DR website they should note that DR preys on the churches greed. The churches are told (it is plain to see on his website) that if they will present his seminars then they will see profits from it. If the congregation is living on rice and beans then the congregation will be saving money (who wouldn't be saving money on that type of diet?). Since they would then be saving money they would have more money to give to the church. It would be a win-win for the church and DR makes $$'s from each and every seminar. DR went from bankruptcy (which according to him should never be done by anyone - except him) to being a multi millionaire. His money is made off of the backs of people who are in debt, who have little self control or who have little knowledge when it comes to handling money. He recently purchased a home for multi millions (someone who touts living simply obviously feels that telling others how to live is not how he, himself, should live) If a person is having financial problems or is just beginning in the financial world (though uninformed), then reading, asking questions and learning would be highly recommended. There are many books/websites that can be helpful - BUT, a person should do enough research to learn what information could be helpful and what could be potentionally harmful. Learning how to manage credit and actually managing it can be difficult for many, but it can be done. In fact it is done successfully by millions. Once a person learns and gets into the habit of using credit wisely then it becomes easier to manage that type of lifestyle. Living a cash only lifestyle on the surface seems to be the easy way out, unless the cash only person actually crunches the numbers and realizes how much they are losing by living that lifestyle. (like a home that is not weatherized, a person does not realize what they are losing through the cracks until it is to late and the heating/cooling bill comes due) DR's materials should definitely be taken with a grain of salt. Many can write self help books, the bookstore shelves are full of them, but it takes a very slick person to make it into a cult and to make a sizable fortune from it. I don't trust slick people, or cults.