Dave Ramsey’s Financial Peace University Week 6

If you are just tuning in I’m currently taking the Dave Ramsey Financial Peace University classes and reviewing them each week. If you missed any you can catch them here;

The Class

This week’s lesson is Buyer Beware which is mostly about advertising and marketing. It was interesting because it’s easy to forget that almost every company, big and little, has at least one full time person whose only job in life is to figure out how to get your money. It’s pretty incredible if you think about it.

He started out by saying how we are living in the most marketed culture in the history of the world. Which I totally believe is true. Look back at TV from even 20 or 30 years ago. There is way less marketing built into shows and sports. Well, put it this way, how could it NOT be true. They certainly aren’t marketing to us any less, that’s for sure.

He also talked about what to do when considering a major purchase. He stated that for most people anything over $300 is considered a major purchase. He listed five things to do when making a major purchase.

  1. Wait overnight
  2. Consider your buying motives.
  3. Make sure you understand what you are buying.
  4. Consider the opportunity cost.
  5. Talk to your spouse.

Pretty good advice. You can’t argue with any of that, especially the wait overnight one. Well, and talking to your spouse, but hopefully you are doing that anyways. Right?

The Sharing

We had some pretty good sharing this week. I’d say our big win this week was that The Blues did their budget. He said that they always had a budget but that it wasn’t complete. They set themselves up for surprises because they wouldn’t account for all their spending. Then when the inevitable surprise popped up they would have to pull money from important areas to pay for those irregular items that weren’t in the budget. He said now every dime is budgeted. Which is awesome!

Everyone said good things about last week’s class, dealing with creditors. Mostly everyone talked about how important it is to know your rights and to set boundaries. Which were both excellent points in last week’s class.

One person asked about Dave’s position on spouses having separate accounts. Our host said he doesn’t agree with it. She said that in her experience she’s never really seen it work except in a very few cases. I think the main thing when it comes to spouses handling their money is open honesty and letting go of the idea of “fairness” and replacing it with an attitude of “sharing”.

Next week: Clause and Effect

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About Ashley

3 Responses to “Dave Ramsey’s Financial Peace University Week 6”

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  1. Hey Ashley, how do you like the class so far? I’m thinking about taking it online. I’m excited about it.

    • Brad Chaffee says:

      Hi Briana! Not Ashley here, but I think the FPU classes are completely awesome! I did the online version too which I liked because you can do it faster than the pace of a live class. I finished the entire thing in two weeks! I was insanely pumped up afterward, which is how Enemy of Debt came to be. ๐Ÿ˜€

      I will say this though. Though the online classes are better than not doing anything, the live classes are great because of the sharing and group discussions. ๐Ÿ™‚

      DO IT! DO IT! DO IT! ๐Ÿ˜€

    • I like them quite a bit and recommend it to anyone who is thinking about going. I like the live classes because of the other people involved. I like thier stories and I’m very interested to know what they think about the lessons. I’m really more interested in them than I am in the presentations. ๐Ÿ™‚

      Plus I leave there with so many blog topic ideas, that alone is worth the price of admission.

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