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TryingMyBest
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| Posted: Dec 16 2013 at 10:45am | IP Logged
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Is FPU worth it? Does it teach you anything that isn't either common sense, available in Total Money Makeover (I have it but haven't read it yet) or online?
I think we're going to be trying out an envelopes based budget starting in 2014. What I'd like is some practical advise about working with envelopes. For example, do you include detergent in with your grocery budget? Would I get that at FPU? If not from the instructor, from talking with other people in the small groups?
Also I'm not 100% convinced Dave Ramsey is right about credit cards. I hate to give up my Target Red Card since it's an automatic 5% savings on every purchase. All of my other purchases go on my Southwest card and we've got enough points to pay for a trip to see my parents this summer. Although maybe I'm missing something that I would learn in FPU about credit cards.
Jenn
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monica4patience
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We took the course. I think it is very helpful. You do learn a lot about a lot of things, but you have to figure out how to implement it for your family. When I use the envelopes it does help me stay on track. I only have a debit card, so as long as I keep track of the amount in the checking account and what's due before the next paycheck, things stay basically in control.
My current envelopes: grocery, household, pocket money, recreation. Food only in grocer; household= paper goods, cleaning supplies, etc.
Despite going to the course, DH is not on board. He won't sit down and budget with me. He doesn't use envelopes. He has a credit card. Although he likes to tell people that FPU got us on the same page, it is not true.
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JodieLyn
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I think things like laundry detergent can go in any envelope you want as long as that's how it's planned to be.. so it could be more "items purchased at the grocery store" than just food items.
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stefoodie
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| Posted: Dec 16 2013 at 4:51pm | IP Logged
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Yes to your first question. To the second, I don't know -- haven't compared the material.
FPU is a lot of common sense, but I don't know, it did make a difference for us in that we started actually applying the lessons more consistently after FPU. Maybe it's also that we're more mature now and therefore more serious about staying on the same page and sticking to the rules.
We still use 2 credit cards -- my Amazon store card where I put all Amazon purchases, and the Costco Amex for everything else. I get cash at the beginning of the month from hubby, and then everytime I use the card, I give him the amount I spent in cash so he can re-deposit it back to the account. That's what works for us anyway. :)
Our envelopes right now are
Grocery Week 1
Grocery Week 2
Grocery Week 3
Grocery Week 4
Grocery Week 5
Gifts
Emergency (this is for food that we stock in our basement)
Toiletries (all bathroom supplies + soap and detergent)
Education
Clothing
Every few months we re-evaluate and adjust if needed.
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stef
mom to five
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Betsy
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| Posted: Dec 16 2013 at 5:40pm | IP Logged
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I will be honest that I really haven't read or listened to much of Dave Ramsey's information first hand, but my dh has. For the most part I think that he offers a lot of great information! Really, I do!
But, I think as Catholic's it is important to keep in mind that he does come from a Protestant background and what seems to be a Health and Wealth Gospel perspective.
I think that while trying to live with in our means is a something we are all called to I do think it can be problematic if we are mostly motivated by "smooth sailing" to retirement (or something like this, maybe not worded the best).
I think Dave Ramsey would FREAK OUT if he heard some of the storied about Mother Angelic and the early finance at EWTN. I can't remember the particulars of all the stories but at one time she invested $$$$ to buy equipment for the TV station. She trusted in God and just before the truck arrived an anonymous downer called to donate the exact amount that she need in matter of minutes when the truck showed up.
My point is, that as Catholic's I think we are to live somewhere in the middle here. We are called to be as prudent as possible and live within our means BUT at times we are also called to trust in God completely even when it doesn't make financial sense--like being open to a new child, or making a great donation, etc.
Anyway, I just wanted to put that out there.....  Please continue sharing how his good information has worked in your life.
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MarilynW
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What Betsy said. I like many aspects of Dave Ramsey. A really good article about Dave Ramsey and the Catholic perspective is Of Dave Ramsey, Babies and Birth Control
Sometimes we are called to sacrificial living and giving which does not fit the Dave Ramsey perspective.
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MarilynW
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| Posted: Dec 16 2013 at 8:13pm | IP Logged
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Have you ever checked out Phil Lenahan as an alternative to Dave Ramsey - Seven Steps to Becoming Financially Free?
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Marilyn
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stefoodie
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| Posted: Dec 16 2013 at 9:59pm | IP Logged
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hi Marilyn (i've missed you, great to see you posting here again)! we personally didn't see any "teachings" that would be against our faith -- but then maybe we also weren't being vigilant enough :) we just took the advice on how to handle the $$, the course was offered by our parish. i didn't hear any advice at all on parenting or having kids or whatever. :) and i didn't hear a "health and wealth Gospel". what i do remember hearing is something about God not being outdone in generosity, that when we give first to God He returns it a thousandfold, etc. which is our experience anyway :)
i saw that article in passing, didn't read the whole, so i may have missed something important, but i did see this The Dave Ramsey Approach – Good for Any-Sized Family written by a Catholic mom
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stef
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DianaC
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I've never taken the FPU class, so can't say if it's worth going. I have listened to Dave's show (free podcast) and borrowed his Total Money Makeover book from the library.
I've always been frugal, so I didn't expect to get much, but many friends recommended his program and I started listening. Using Dave's budget worksheet, we did switch priorities: I used to list my bills, including offertory, then save from what was left over. Now, I take our offertory off the top, then our savings, then our bills have to fit into what is left over. We had to do some adjusting at first, we looked at everything and reduced wherever we could. This simple adjustment helped us to save a tremendous amount of money in the first year. Indeed, God will not be outdone in generosity!
For envelopes, I have one for groceries (this includes household supplies, personal hygiene and pet food), one for spending money, one for haircuts/clothing and one for gas/miscellaneous. We found that there is always something that pops up that we didn't anticipate, so having a small miscellaneous budget keeps us from having to worry about messing up the overall budget.
As far as credit cards, Dave's book points out that we tend to spend a higher percentage when using the cards than the cash. I think this is true. For a while, I was using a rewards card for grocery purchases (5 points per dollar at the grocery), but I did find that I was more likely to push beyond the budget a bit and that cancelled out the rewards benefit.
Hope this is helpful!
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4 lads mom
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Betsy wrote:
But, I think as Catholic's it is important to keep in mind that he does come from a Protestant background and what seems to be a Health and Wealth Gospel perspective.
I think that while trying to live with in our means is a something we are all called to I do think it can be problematic if we are mostly motivated by "smooth sailing" to retirement (or something like this, maybe not worded the best).
I think Dave Ramsey would FREAK OUT if he heard some of the storied about Mother Angelic and the early finance at EWTN. I can't remember the particulars of all the stories but at one time she invested $$$$ to buy equipment for the TV station. She trusted in God and just before the truck arrived an anonymous downer called to donate the exact amount that she need in matter of minutes when the truck showed up.
My point is, that as Catholic's I think we are to live somewhere in the middle here. We are called to be as prudent as possible and live within our means BUT at times we are also called to trust in God completely even when it doesn't make financial sense--like being open to a new child, or making a great donation, etc.
Anyway, I just wanted to put that out there..... Please continue sharing how his good information has worked in your life. |
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YES!! I think DR has a lot of good, common sense things to do.....but I can’t believe that you are ever going to feel COMPLETELY financially “ready” for kids....just some of it makes me feel uncomfortable. I can’t listen to his radio show anymore, he can be sort of condescending and bombastic...but that is radio entertainment, I guess. 
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Scenes From This and That
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anitamarie
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| Posted: Dec 18 2013 at 4:13pm | IP Logged
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Well, if you aren't convinced about an envelope/actual cash system (i.e. no cards), then you could use You Need a Budget
. It's software/app that you can use on your smartphone and computer and it's synced through drop box, so both of you have the same information all the time. Basically, it's a "virtual envelope" system. My dh loves it, and he's pretty picky about software/apps.
Anita
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Betsy
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Anita, that is interesting! Thanks for the info.
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When handcrafting my work, I always pray that it will raise your heart to all that is true, modest, just, holy, lovely and good fame!
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Amber-v
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My husband and I really like You Need A Budget too! We have been using it for years and it has really helped us get on the same page with our financial priorities. We really like his 4 Rules too, they have been very helpful in reducing our financial stresses. The software has a helpful blog, a good forum with lots of great members and a podcast too. Definitely worth checking out!
Amber
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Amber
Mom to dd (born 2002), ds (2005), ds (2008), ds (2011), dd (11/2013)
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4Real Forums : Our Lady's Loom, Larder, and Laundry
Topic: Financial Peace Univ - Worth it?
