Anyone done Dave Ramsey's program?

M

Megan Turnidge

New member
One of my goals is to get our spending under control and to get out of debt over the next 2 years. Has anyone done this program? Have any advice for me or good links? I just ordered his book and am excited to read it. We so desperately need this change. I'm just a little worried about if it will work for us... simply because DH and I are both students and DH's job doesn't exactly pay a whole lot. Will it work for low income families?
 
It can work for anyone, Megan! Low income or not, the point is to get it under control...and work it. Doesn't matter how much you have, it's the principle of the thing. And it's not some scheme, it's sound, practical financial advice - not how you're going to be rich in six weeks if you start this, etc.
 
I've done it..I think Shawna has

Yeah it'll work for low income families...will just take you longer to pay your debt off but as long as you are consistent with it you will get there...it's not a get rich in a month scheme. It will take work on your part to get your spending and budget under control but in the end it's soo worth it.
 
DH and I took the classes years ago when we just married with no money (no TV, no car - nada). We were able to implement his principles then and we still use many of them today. It really put us on the same page financially for our married life.
 
I haven't done Dave Ramsey's program myself, but my brother and his wife are big believers in his system, and they swear by it. They have been able to pay off a large amount of debt and enjoy financial freedom even though my brother doesn't make huge money, and his wife stays home with the kids. It has been cool to watch them work the program and get such important rewards from it. Good luck! :)
 
It is an awesome program! We haven't finished the program yet, but one day we are going to call into his show and say we are debt free!
 
We have! We went through Financial Peace University about a month into our marriage. It was offered for free through the military and I honestly think it's one of the biggest gifts the military has ever given us. It made a huge difference for us and really made us a team right from the start. As long as you're disciplined and stick to your budget and plan, it really does work.

Last spring we went to Total Money Makeover Live here in Colorado Springs and that was a lot of fun too. It was really fun to see Dave live since we'd only watched DVDs when we did FPU. I haven't read any of the books but I would say if you go that route, you and your DH should both read it so you're on the same page.
 
I did it through the military too and as god is my witness it saved my marriage. If you do it right, it is the MOST liberating thing EVER. I love Dave Ramsey, and would put my money wherever he told me to. You do have to do it as a team and stick to it. Other than student loans, we are debt free. We have 0 credit cards and we are so happy. I am amazed at the number of people who are shocked and even angry that we don't have credit cards. If we don't have the money we don't do it. Simple. We took the class in 2005. I think it will work for any family regardless of income!
 
We did Financial Peace University through our church a year ago & LOVED it! It really has helped us! You'll love his stuff!
 
Us too...when we got married, we both brought a good bit of debt along with us..we started Dave Ramsey before we had kids so it was a little easier but we paid off all our debt within 2 years and have been debt free (other than our house note and DH's truck) for 6+ years. Now we put a very large chunk of money in savings every month...and we have investments etc. Anything big that we want we pay cash for..we have ONE Amer. Express card with zero balance just "in case" but we have never used it.

It takes patience and diligence but it is very much doable by anyone. I think we were most amazed at how much money we were just wasting every month kwim?
 
I meant to say DH and I did the Financial Peace Seminar thru our church. I would look and see if it's offered near you.

I also wanted to say I have a friend who doesn't come from a financially stable family. Anyways her and her husband are mid 20's and they did the program at the beginning of last year. They have been able since March last year to save enough $$ and they just put a nice down payment on a home. They are the first in their family to be homeowners.

Dave Ramsey's story is actually pretty interesting. When I go into something I research all kinds of stuff about it. He was bankrupt in his 20's from his bad money borrowing habits.. He realized he was living a lucrative live beyond his means and conformed his ways thru various financial counseling and books, etc...so he's been there and he took what he learned and worked best for him to make his program.

Anyways you didn't ask for a history lesson haha..but there it is! Good Luck! It really is wayyyyyyyyy less stressful to live w/out over-looming debt
 
I've only heard good things about it!

Megan, is your hubby a full time student (maybe he doesn't even have to be...) because being married with a kid and going to school can get you some very nice pell grants--if you don't already have them. That's what me and my hubby used and we have no student loans!
 
Sarah8914 said:
I've only heard good things about it!

Megan, is your hubby a full time student (maybe he doesn't even have to be...) because being married with a kid and going to school can get you some very nice pell grants--if you don't already have them. That's what me and my hubby used and we have no student loans!
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He's half-time right now. He just can't handle full-time school and full-time work. :( But yes, we always apply for aid and always get a grant! :)
 
Megan - the Financial Peace University is a great thing, but you can learn just as much by checking out his books from the library and listening to his radio show or on Fox Business channel if you have that.
 
I have heard nothing, but good things about it!! We offer Peace University at our church and they have had 4 classes so far with another starting in a month.
 
Darcy Baldwin said:
Megan - the Financial Peace University is a great thing, but you can learn just as much by checking out his books from the library and listening to his radio show or on Fox Business channel if you have that.
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Thanks Darcy! I'll be checking out his radio show for sure! :) I really wish I could do the FPU in a group setting, but I checked and there aren't any classes in my area. So, I'll just have to be extra good without the group support. ;)
 
I'm hoping our church does FPU this year...we've been credit card free for years but would love to get more ideas. It's SOOOO nice to get past the holidays and not have a single bill to pay after the fact.

And love what Dave says...ACT YOUR WAGE. :D
 
mturnidge said:
Thanks Darcy! I'll be checking out his radio show for sure! :) I really wish I could do the FPU in a group setting, but I checked and there aren't any classes in my area. So, I'll just have to be extra good without the group support. ;)
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I know they offer it online too, but I agree with Darcy, there's a ton of free information out there especially online. The biggest advantage of the class for us was having a scheduled time once a week where we HAD to go. It kept the momentum going for us and kept us talking about what we wanted to do which I think is really important. But you could easily do that on your own as well as long as you commit to doing it.

I know this forum: http://www.livinglikenooneelse.com/ is all about Dave Ramsey. I don't know much about it but you might check it out if you're looking for more Dave-centric support.

Simple Mom is also a fan of Dave Ramsey and has written quite a few posts explaining the Baby Steps and how it's worked for them. These three are the most recent ones:
Financial Baby Steps: Save up $1,000 and Become Debt-Free
Financial Baby Steps: Save and Invest
Financial Baby Steps: Pay off Your House and Give Like Crazy

But I know there's more in her archives as well.
 
Yep! We are FPU people too! I think that starting to look at money as something YOU control and not the other way around was probably the best part of all of it. We are so so SO close to debt free now, and its going to feel so good!

If you have a small income, its all the more important to learn how to live within your means, you can do it and you will feel so at peace when you are!!! Good luck, you can do it!!!
 
I think you can order the whole program from his web site - It seems a little pricey but SO worth it!!! I think the most important 2 things I learned from going through the program, Happiness is being happy with what you HAVE, not what you THINK you need. And Don't try to keep up with the Jones - They are BROKE!!!!!
 
Victoria - you can get his books at just about any library. You can buy more through his website, amazon, etc., but you can get a good start with the books there.
 
nonnie said:
I think you can order the whole program from his web site - It seems a little pricey but SO worth it!!! I think the most important 2 things I learned from going through the program, Happiness is being happy with what you HAVE, not what you THINK you need. And Don't try to keep up with the Jones - They are BROKE!!!!!
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THANK YOU! I so needed to hear this right this minute! My friend is buying a mini-van right now, and even though a part of me doesn't want the car payment a part of me really was jealous because I've been wanting a van for year! DUMB! I'd rather be debt free than have a bigger car!
 
This is what I need to do... we had pid off credit card debt, but it crept back in... I may have to check him out. Thanks for the ideas ladies!
 
We LOVE Dave Ramsey in our house and are currently working the system. I even walked into Best Buy a couple of weeks ago and offered to pay $50 less in cash for a TV that we wanted and they took it! It was even already on sale to begin with. I never would have had the confidence to do that if it hadn't been for DR.
 
I have his Total Money Makeover book...if anyone wants it, pm me with your address. It will start you on the path of saving :)
 
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