Whether you’re new to managing your finances, deep in credit-card debt or just looking for ways to live more generously, a course starting next month can help.
Financial Peace University is a nine-session course from 6:30 to 8 p.m. Wednesdays from Jan. 19 to March 16. Lessons include budgeting, saving for emergencies, paying off debt quickly, spending wisely, investing for your future and living generously. The course material by Dave Ramsey is online, but the class meets live at First Free Rockford with a facilitator for conversation.
Foundation for finances
Our church has hosted the class several times before. Chad and Megan Clauson took it in 2017, the winter before they got married.
“We wanted to have a good foundation for how to address our finances as a couple, and just make sure we were both on the same page,” Chad says.
Megan adds with a laugh: “We learned that I’m a spender and Chad’s a saver.”
What else did they learn?
“The big thing for me that we still use now,” Chad says, “was hearing the danger that debt can be in your life. Just trying to stay away from taking on new debt and the importance of prioritizing paying things off. So you don’t have to live with that following you.”
“We’ve got money set aside now in case we have big repairs for anything,” Megan says. “We had something in place already before we got married, but we learned the importance of making sure that you have a good amount set aside in case you need to get a car, or if something major breaks.”
Never too late to learn
Tim and Debbie Evans took the course about six years ago even though, after 30 years of marriage, they felt like their finances were in good shape.
“We decided to attend the class with our kids and see what other insights we could learn,” Debbie says. “We had heard a lot about the course, and you are never too old to learn.”
One lesson that stuck with both couples was the “Snowball” approach to paying down debt. Debbie says that while she and Tim weren’t in that situation, it’s an idea they’ve been able to share with others. You pay off your smallest loan first, then sink that payment amount into the next-smallest loan. When that’s paid off, you add those two payments to the next-smallest, and so on.
“Typically, we think we need to pay the big ones first, but the Snowball actually makes more sense and gives a feeling of accomplishment,” Debbie says.
Chad and Megan used the Snowball approach to pay off Megan’s college loans.
“Now I don’t have any student debt, which is nice,” she says. “We’re working on that now toward our mortgage, paying that down as quickly as we can, putting extra money toward that if we have it each month.”
Financial Peace is taught from a biblical perspective — so it’s not about getting rich, but living generously.
“We definitely appreciated that,” Chad says, “understanding that you’re not just making money for yourself, but you’re also making money so you can live generously and use it toward God’s mission.”
Register today
Course attendees don’t have to disclose anything they don’t want to about their finances. To register, follow the registration link from here. The Ramsey Solutions course costs $59.99 for a couple or single, and scholarships are available. Registrants have the option to pay a larger fee and keep their online access to Financial Peace for an extended period of time. For details, contact the Adult Ministries office at adultministries@firstfreerockford.org or 815-877-7046.
“There are plenty of tips that one can implement to make life easier.” Debbie says. “Financial issues are one of the biggest stressors in life and marriage, so anything you can learn to reduce that is worth your time.”
Do you think you will be offer the financial peace classes again anytime soon.