Financial Peace University [What I Learned]

I am now a graduate of Dave Ramsey’s Financial Peace University (FPU). It’s a 13 week class that we took through our church and I would highly recommend it to anyone that has ever earned money, been given money or is aware of this thing out there called ‘money’. It’s common sense for a generation of people that really don’t seem to have any.

In addition to the plethora of lessons learned (financial, discipline and common sense wise) there were a few points that really got past my thick skull and made an impression on me.

1. I need to learn to say no to myself. I don’t need to have everything I think I want. When I really stop to think about it, I don’t even really want the things I think I want. A little bit of self control goes a long way.

2. It’s almost cliche, but it is true: Building wealth is not a sprint. Its a marathon. The tortoise always wins the race.

3. You can make decision today that will have an impact (either positive or negative) on your future 10, 15, 20 years down the road. These decision are not just financial, but also for your health, mind and spirit.

4. Giving money away is part of being a well balanced person. This is going to seem really strange to a lot of people, (as a matter of fact, in the course this is labeled “the great misunderstanding”) but helping your fellow man through churches and charities is a good use for your money. I personally do not give nearly as much as I feel I should be giving and I have every intention on correcting that.

5. Your finances, ultimately, are your responsibility and yours alone. We all need to grow up a little and maybe educate ourselves on the topic of money, if need be. But we must except the fact that nobody is going to be more careful and cautious with our money then we are. You could hire an accountant to do your work, but you need to stay involved with what is going on. And if you’re trusting the US government to take care of you in any way financially, you deserve to be laughed at.

6. Get intense, get passionate, get excited and while you’re doing that grow up. Getting and keeping money isn’t easy. That’s why get get a paycheck for doing ‘work’. If it was easy everybody would be rich but that’s not the case. Your life, including your finances, is worth your time and attention.

7. Your wife is not your financial enemy. Too many time husbands and wives are at odds with finances and who should be allowed to spend what on what. Correcting this is the first step to forming teamwork that can tackle most any financial problem thrown at you. You’re really in this together and so long as her long term goals match yours, you’ve gotta work together. And if these goals don’t match, you’ve gotta get synced.

“If you’re output exceeds your income, your upkeep will be your downfall.”