Total Money Makeover vs Financial Peace University?

posted 8 months ago in Finances
Post # 2
Member
82 posts
Worker bee
  • Wedding: September 2020 - York, Nebraska

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tm6173 :  hi there!!!! HUUUGE Dave follower here. I think you can honestly get everything you need from total money makeover plus listening religiously to his podcasts (they’re free), unless you have a lot of naysayers in your life. If that’s the case I’d advise that FPU is worth it so that you’re surrounding yourself with likeminded people instead of negativity. Please let me know if you have any other questions; I’m super passionate about this and it’s definitely doable! 

Post # 3
Member
28 posts
Newbee

I agree that Total Money Makeover has all the info contained in FPU. However, we needed the accountability and support of the weekly group, so investing in the course was worth it for us.

Are you self-motivated? Are you self-disciplined? Do you need outside encouragement and support to keep on track? Answering those questions can help you decide which would work better for you.

Post # 5
Member
2580 posts
Sugar bee
  • Wedding: November 2012

I agree with the previous two posters. I would also suggest maybe creating a “debt free” instagram account and finding people within the debt free community on instagram (look up #debtfreecommunity and you’ll fall into a rabbit hole). It is so encouraging to see other people’s progress, how they budget, their tips and tricks, etc. Plus it is exciting to post your own “story”, if you will, and your own progress. 

Post # 6
Member
624 posts
Busy bee
  • Wedding: May 2015

I can’t wrap my head around spending money to start getting out of debt so I would go with whatever you can get from the library.

Post # 7
Member
13889 posts
Honey Beekeeper
  • Wedding: November 1999

If you’re going to spend money, have you looked into an actual financial planner? 

Post # 8
Member
291 posts
Helper bee
  • Wedding: June 2021

Dave Ramsey has a YouTube channel with lots of helpful advice on getting out of debt by the way! I was given his ‘Total Money Makeover’ book by my sister. I read it and took notes as I went. FH and I are currently on the 7 baby steps. 

Post # 9
Member
84 posts
Worker bee
  • Wedding: July 2017

I don’t have any advice for your actual question, just wanted to say good for you and good luck 😀

Post # 10
Member
8757 posts
Buzzing Beekeeper

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tm6173 :  there are so many free resources for getting your finances under control! If you don’t find yourself listening to his podcasts often maybe you need to seek out another pro that’s more your speed and style. Dave has some great lessons but I find that much of it is based in feelings and less about hard numbers. Not a bad thing, but I’m more of a hard numbers gal myself. 

Post # 13
Member
8757 posts
Buzzing Beekeeper

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tm6173 :  I also like Mr. Money Mustache. Frugalwoods is a great blog. I enjoy Jordan Page’s YouTube channel.  I haven’t read it in a long time now, but when I was young and broke I really enjoyed The Simple Dollar – not sure how good it still is now that he’s expanded the site. Heck even the bees here love to help breakdown budgets for each other! There are some differences between all frugalality and personal finance bloggers but they all boil down to the same thing – spend less than you make. I think the key isn’t that one of these experts knows more than another, you just need to find the one who explains it in a way that it clicks with you and makes sense to you. If you read enough of them you’ll see patterns and figure out how to adapt their systems into one that works for you. 

Post # 14
Member
754 posts
Busy bee
  • Wedding: June 2018

Following because I’m currently looking into some of his principals as well. I may consider the book though instead of the FPU just because I’m more of a “study” and read it from the book person rather than sit in class. I think I’d want to sit down with my Darling Husband and discuss it privately rather than in a larger group setting. 

I’m slowly getting on board with baby steps (emergency fund, snowball method for payments, etc.) but I’ve relied a lot on Pinterest. Honestly.. I just search and pin some helpful budget things and more just pop up in my timeline that lead to blogs and whatnot. Its nice to browse and see what works for me and DH’s lifestyle. 

From what I’ve heard you have to have that all or nothing mindset with Dave Ramsey teachings and some of his ideas I can’t get on board with (credit cards for example) hence why I’d like to do a combo of some of his methods and just good money management in general. 

Post # 15
Member
1091 posts
Bumble bee

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tm6173 :  I used to listen to Dave Ramsey’s radio show. His advice was to pay off the smallest card first, working your way up to the one with the largest balance. In theory, you’ll create a momentum, and it will be encouraging to continue. Once credit cards are paid off, work your way up to cars and mortgages. He would recommend you put money away for emergencies (back then, it was $1,000). I would buy his book used on ebay, if you can find it. Your first step in controlling debt is controlling spending. There are plenty of good, free budgeting apps for your phone. Sticking to a tight budget while while paying down debt is your only way out. Have you transferred your card debt to the card with the lowest interest rate? I would start there, and then put away your emergency fund. Then tackle the first card. Maybe keep posting updates to this thread for accoutability. Good luck, Bee! 

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