Financial Peace University
Testimonial from Peter & Catherine Fox…
Everyone is raised with different ideas about money—what to do (and not to do) when it comes to earning, spending, saving, and giving it. Money can be a sensitive topic, uncomfortable—or even taboo—to discuss with our family, peers, and church family. Even such, it is a topic we should discuss, teaching and encouraging each other to follow what God teaches about personal finance, stewardship of His resources, and giving generously. My wife and I are excited to facilitate an upcoming nine-week class (Financial Peace University). I want to share how the class has changed our lives (and convince you to join us each Sunday!)
“The rich rule over the poor, and the borrower is slave to the lender.” (Proverbs 22:7) This is one of those Proverbs that makes more sense the longer you are in debt. Even if the lender is a benevolent master, you are still the slave. Another Proverb with which I closely identify is “Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it” (Proverbs 21:20). Put another way, my dad once said to me, “Poor people fritter away their money, a little bit at a time.” If you looked at my bank statements in the years before I met my wife, you would see I was well on my way to poverty: dozens of small line items each month like fast food using credit cards I could not pay off at the end of the month. There were months where I struggled to pay a utility bill and so badly wished I hadn’t spent that money on foolish things.
When Catherine came into my life, I was embarrassed to share my finances. I had significant credit card debt across multiple cards, even more significant student loan debt, a mortgage, and I’d lost a bunch of money in risky investments...and showed no signs of changing. My poor decisions and financial standing were red flags to her, and she made it clear I needed to change my relationship with money if we were going to continue to see each other.
She suggested “Hey, let’s take Dave Ramsey’s Financial Peace University.” I was quick to decline: “I already know what things I need to do; I don’t need a class” She was equally quick to push back: “Well your way is terrible.”
It has been said that changing our habits is 80% action and 20% head knowledge. After a lot of feet dragging, I decided to take action and take Financial Peace University at a local church with my then-girlfriend. Each week we explored different aspects of our relationship with money, identifying our bad habits and behaviors. We learned concepts and tools to help us enter our upcoming marriage, of one mind, working together to achieve our financial goals.
Have you gotten to the end of a month and wondered where all the money went? One of the lessons my wife and I learned is to “give every dollar a name”. We created a budget where every dollar of income is assigned a “job”. Tithe, bills, debt, groceries—they all have a place in the budget, even date night and walking around money. At the end of the month, we confidently know where the money went because we made those decisions long ago. From the start of our marriage a year and a half ago, my wife and I have implemented the tools and strategies we learned from taking Financial Peace University. We have paid off much of our debt, and have a plan to pay off what remains.
A common misconception of Financial Peace University is that it’s only about getting out of debt. Maybe you don’t have any debt, or are wondering if Financial Peace University is right for you. The benefits extend beyond eliminating debt. Everyone benefits by developing a healthy relationship with money and learning how to create a budget, planning for retirement, saving for children’s college, and ensuring appropriate insurance coverage.
Perhaps most importantly, when God’s people are in a strong financial position, we can powerfully respond to the call to care for the poor and widows (James 1:27) and be radically generous with others. Imagine if our church could pay for medical bills of anyone in the congregation who is unable to provide for themselves, or give groceries to every home in Skyview affected by the government reaction to COVID?
God gave us His son at the cross, a gift of eternal life and salvation from our sinful nature, a gift we can never repay. In the same way, my wife and I are excited that Financial Peace University has given us the motivation and ability to reflect that Godly spirit in generous giving with no expectation of repayment. We hope you will join us.
Financial Peace University is a nine-lesson course using Biblical wisdom and common sense to help tackle budgeting, pay off debt, and make your money work for you. The class is $99 per person or couple, and includes your member workbook and a year of online resources. If you’re still not sure, you can come to the first class for free to see what you think! Our first class is Sunday, May 17. We will meet 1:30-3pm in the church basement. Learn more or sign up at: https://www.financialpeace.com/classes/1116184