Introducing... Financial Peace University

Dear ones,

Financial stewardship isn't just wishful thinking.  It requires planning, education, and knowledge about money.  As my own children grow up I am learning more and more that many of the financial literacy skills that are important to flourish in the world today are not taught to us in any one place-- either for me as they leave for college, for them as they learn to manage their money, or for my own future as I think about retirement.  How much should I be saving?  How much insurance do I need?  Am I spending too much? What is the right amount to be giving away when my budget is tight?

Financial literacy in the secular world can offer those tools, but integrating our financial practices with our faith and beliefs is an important part of discipleship.  In the past, I understand that St. Paul's has offered "Living Wi$ely" with my predecessor, Chris Harris, as one of the tools for us as a congregation to deepen these financial stewardship skills.

I wish we could offer that again!  It sounded like a wonderful and popular program.  Unfortunately, those materials were lost when our server crashed last year.  I contacted Chris to see if he had a copy, but unfortunately it is not possible to recreate that curriculum at this time.

When we learned we do not have a course available, our wonderful Stewardship committee went to work.  We explored the idea of developing a replacement for Living Wi$ely or finding a replacement that someone else had already made.  I had heard some of my colleagues talk about a program called "Financial Peace University" by radio show host Dave Ramsey.

Financial Peace University is a faith-based financial literacy program that helps its participants develop a solid plan for their financial future based on their faith and beliefs.  It consists of videos, workbooks, and group discussions. They claim very successful transformation within three months of completion of the program, with exponential increase in savings, decrease in debt, and change in spending habits.

The Stewardship Committee's one reservation with recommending this option is that it is not a free class.  Financial Peace University costs $109 per family, and we serve as host and facilitators but the other organization provides the course content.

We considered this very carefully, leery because the Church does not usually charge for Formation (although a secular course of this quality might certainly cost a comparable amount).  We reviewed the course material and decided we would try it this fall, making scholarships available to assist those who would like to take the class but are unable to afford enrollment.

We found that the class was engaging, helpful, and even I- a CPA with a background in estate and probate tax- had some "a-ha"moments for my own financial planning! It teaches the essentials while staying true to our faith.  For that, the committee felt like the congregation might want an opportunity to participate in developing these essential stewardship skills together.

For those reasons, I hope you will consider joining Pat Kreder and I this fall for Financial Peace University.  You may sign up here.

Please do let me know your thoughts, questions, and concerns.

Blessings,
Jeff

The Rev. Canon Jeff Martinhauk,
Canon for Congregational Life

Course Details:

1. Lesson One: SUPER SAVING: Saving money is not exactly the American way. Actually, it's the exact opposite! You'll learn this week why it's so important to save, how to prepare for emergencies, and how to start building wealth. Broke is normal—now's your time to BE WEIRD!
2. Lesson Two: RELATING WITH MONEY:The way we handle money impacts every part of our lives. This week you've learned how to work together with your spouse, even if you're the Nerd and your spouse is the Free Spirit! You've also started learning how to teach your kids about money and how to find accountability if you're single.
3. Lesson Three: CASH FLOW PLANNING: It may be the dreaded B-word, but a budget is crucial to your success! You'll learn how to create a budget that works and make your money work for you. Show your money who's boss!
4. Lesson Four: DUMPING DEBT: Stumbling into debt can be easy—banks, credit card companies, and stores are all working hard to push us over the edge. Don't fall for it! You're taking the first steps to get rid of your debt once and for all
5. Lesson Five: BUYER BEWARE: We're bombarded with advertisements on all sides every day! Lesson 5 teaches you how to get the best deals when you're ready to buy. Gain power over your purchases!
6. Lesson Six: THE ROLE OF INSURANCE: You are probably thinking, A whole lesson on insurance? Oh sweet mercy! But you will learn that your insurance plan can make or break your whole financial life. You'll learn which ones you need and which ones you don't.
7. Lesson Seven: RETIREMENT AND COLLEGE PLANNING: We think we'll never get there. Then one day, we wake up and boom! It's time to retire or send your kids to college. Make sure you're ready with the right plan for every stage of life.
8. Lesson Eight: REAL ESTATE AND MORTGAGES: Real estate can be the biggest blessing—or the biggest curse—in your financial life. It all depends on how well you buy and sell. This week you'll learn Dave's most effective tips for buying and selling real estate as well as the best (and worst) mortgage options.
9. Lesson Nine: THE GREAT MISUNDERSTANDING: There are three things we can do with our money: spend, save, and give. In the video, Dave reveals the true key to winning—both in your life and with your money.

Time: Wednesdays from 9/12 through 10/31; 6:00-8:00

Food: Shared meal in the Hall with the other Fall Formation Groups

Place: Meal in hall followed by Financial Peace University in a location TBD.

Cost: $109 per family.  For financial assistance please contact me: martinhaukj@stpaulcathedral.org.

Sign up here.

Questions? contact me: Jeff Martinhauk, 619-298-7261 x-334, martinhaukj@stpaulcathedral.org.