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We purchased Financial Peace University one year ago!
It’s crazy to think of everything that happened in 2019, as a result of taking that course.
I love to reflect back on the progress we have made in the last year, and I’m sharing my review of Financial Peace University, in case you’re considering purchasing it!
I’ll also share a few tips to make the course work for your family.
Let’s go!
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My honest review of Dave Ramsey’s Financial Peace University
My husband and I are both doctors, and we have all of the debt that comes with it.
After graduating residency with well over 300K in student loan debt, we took on an additional debt burden to open our practice.
Learning how to operate a business came with many challenges, and our finances took the biggest hit of all.
Although we made a little bit of progress on paying down debt, we had no plan, and we were living paycheck to paycheck.
We were ended 2018 with well over half a million dollars in debt, and I was suffering from severe depression, and feeling pretty hopeless.
We thought we were bankrupt, and really had no idea how we would keep our business open, much less start making progress on our debt.
I knew about Dave Ramsey and I liked his plan, but thought it was something we would do “someday”, once we actually had money.
Related: Dave Ramsey’s Baby Steps to Financial Peace
We needed to do something!
The church where our kids were going to school, was offering Financial Peace University starting in January 2019.
This was it! We had to do it!
We started Financial Peace in January, and immediately got to work!
- We learned to work together and create a budget.
- We failed at our budget, made adjustments, and tried again!
- We cut our expenses by well over $8,000/month.
- We started using cash envelopes.
- We turned in our leased car, sold another car, and paid for two cars in cash, eliminating car payments!
- We downsized our home from 3,000 square feet, to a small rental house with super cheap rent.
- We got our business organized and improved our cash flow.
It was all worth it.
Because of these adjustments we first needed to make to our lifestyle, we weren’t able to start making debt payments until almost 7 months later!
We made our first debt payment at the end of June, and we finished 2019 with $51,996.64 of debt paid off!
What is Financial Peace University?
Financial Peace University (FPU) is a 9 week financial course, created by financial expert Dave Ramsey.
Dave Ramsey created the course after he himself went through bankruptcy, over 30 years ago.
He teaches very basic personal finance using the baby steps.
His teaching is easy to understand, and takes a lot of the overwhelm out of finance by focusing on one small step at a time.
How much does Financial Peace University cost?
Financial Peace University is around $100, depending on whether there is a special promo going on at the time.
When we enrolled, we also got a year access to the Everydollar app (with bank connectivity), which is awesome! You also get access to all of the material online, and several bonus courses.
This is a very small investment considering the value you will get from this 9 week course.
In fact, you will likely save more than you spend in the first month of putting the plan in to action.
Is Financial Peace University worth it?
Financial Peace University is 100% worth every penny.
Again, for such a small investment, you will get the basic financial information that you need to create a successful debt payoff plan and set yourself up for future success.
The literal “peace” of mind that you will receive from this course is worth the price alone!
Taking this course with my husband saved our marriage, and our future!
Does Financial Peace University work?
FPU is like any course in that if you do the work, you will get the returns!
Here are a few tips for how to make Financial Peace University work for your family:
Go all in!
The investment in Financial Peace University is small, but if you’re going to sign up and pay the money, then go all in!
FPU is like any course, if you don’t implement what you lean, then it won’t work.
You have to be willing to make big changes in your life.
Something brought you to this point, where you are seeking big changes.
Don’t dabble around. This program will work, but only if you do!
Give the plan time to work
As I explained in our story above, it might take several months to get your life together enough to start paying off debt.
Depending on how behind you are on your bills, how much you are overspending in your lifestyle, and how much debt you have, this could be a very long road.
Don’t give up
Once you take Financial Peace University, and make your plan, stick with it!
If you fall off your budget, or make a mistake, it’s okay!
Don’t give up. Keep going. Move past your mistakes, learn from them, and continue pushing toward your goals.
Seek coaching (or an objective opinion) if you’re struggling
If you feel like you are doing everything to create a debt payoff plan, but it’s still not working, maybe you could use an objective opinion.
Ask a trusted friend, or your FPU coordinator to sit down and look at your budget.
Hire a financial coach to help you through the process and keep you focused.
You’re not stuck. You can make huge changes to your finances and your life!
You only have to be willing to change, and you can!
I’m love to motivate and encourage others on their debt payoff journey!
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hi! I'm shannon
I’m a wife, mom of three, doctor, and blogger! In 2018, I decided to turn my mom blog, into a personal finance blog so others could follow along on our journey to pay off over HALF a MILLION dollars in student loan and practice start up debt. I hope you enjoy following along, and maybe even find some inspiration along the way.
