Photo By Maj. Lowell Howard | Several Soldiers with the Special Troops Battalion, 1st Sustainment Brigade, meet each...... read more read more
By Major Lowell Howard
1st Sustainment Brigade
CAMP TAJI, Iraq - "Live like no one else," said the man on the stage dressed casually in an unassuming buttoned down shirt and blue jeans. "So you can live like no one else!" he continued as the crowd joined in.
The man, Dave Ramsey, was talking to an audience of attendees of his Financial Peace University, alternately called FPU. Watching a DVD of Ramsey's lecture was a class of students from the Special Troops Battalion, 1st Sustainment Brigade.
Every Thursday night at 7 o' clock in the Cantigny Dining Facility on Camp Taji, about 20 Soldiers gather inside the Shadley Room, to watch Ramsey teach about how to save money, live on a budget, eliminate debt, find bargains, and "experience the joy of giving."
The participants have a multitude of reasons for coming.
"I have been listening to Dave for several years and value his approach to money. I made a lot of mistakes early on, and I am now committed to the tortoise approach," said Staff Sgt. Bryant Maude, a Woodstock, Ga., native, and the non-commissioned officer in charge of the 1st SB Public Affairs Office. Maude is also a facilitator for the class, which started on May 15th.
"Every little piece of advice helps. Personally, I am very blessed with the financial situation I am in," commented Capt. Mike Pagel, a Miami native, and officer in charge of the Easy Red Clinic. "Nevertheless, I understand things can always change and the better prepared we are for those changes, the better we are."
Ramsey is the creator of FPU, a biblically based 13-week video training series for adults. Topics covered in the series are cash flow planning, investing, saving, credit, retirement, and giving. Ramsey also hosts a radio show, "The Dave Ramsey Show," which is syndicated across the United States.
"I like that the course is not centered on the fake notion of how to get rich or become a millionaire. Instead it focuses on the basic principles of money management," stated Maj. Thomas Buchholz, a Pensacola, Fla., native, and the financial management support operations officer, for the STB. "I enjoy the dialogue and sharing of tips as a group."
"Dave Ramsey's way of teaching is not dull," Warrant Officer One Andres F. Toledo, a Cali, Colombia, native, and supply systems officer for the 1st SB, said, "Some of the lessons are based on real experiences of people like me or you."
"I saw the value in it for myself but also for young Soldiers," Sgt. Michael Theubet, a Redding, Ca., native, and 1st SB chaplain assistant, said. Theubet is also serving as one of the group's facilitators.
Ramsey's Web site says that his seven-step system is a "proven success" with more than "500,000 families" who have paid off an average of $5,300 in debt and saved $2,700 in 13 weeks. However, Ramsey has been criticized for offering simplistic solutions to "complex" financial issues. Many financial advisers don't appreciate his caution for investments like single stocks.
In 2003, Ramsey said in an interview with Failure Magazine, "I think if you look up 'moron' in the dictionary you'll find a day trader's picture next to it." In the same interview he added, "Seventy-five percent of the Forbes 400, when asked, 'What's the key to building wealth?' said it's getting out of debt and staying out of debt. Old, rich people tell you to get out of debt. Only young, broke finance professors tell you to use debt."
"I have bills - credit cards and loans to pay off - I do not have anything," said 1st Lt. Aja Roberts, a Springfield Township, Pa., native, and medical platoon leader, for the STB, adding, "I hit a rough time in my life before OBC (Officer Basic Course)."
Ramsey's seven step system is designed to be a road map to help people get out of debt and move toward financial freedom. His seven tips for financial peace are:
1. Put $1,000 in an emergency fund.
2. Pay off all debt using a "debt snowball."
3. Put three to six months of expenses in savings.
4. Invest 15 percent of your household income into Roth IRAs and pre-tax retirement.
5. Save for your children's college funding using tax-favored plans.
6. Pay off your home early.
7. Build wealth and give! (Invest in mutual funds and real estate).
Buchholz, who is also serving as a group facilitator, said his goals with the course are, "To learn how to better save money, invest my money, pay off debt, and gain base finance knowledge in order to share the info with Soldiers."
1st Lt. Cory Burnett, a, Plymouth, N.C., native, and postal officer for the 2nd Platoon, 22nd Human Resources Company out of Ft. Lewis, Wash., said that he's learned how to be "careful" with his money.
"If you don't make your money behave, then it will go where you really don't want it to go," Burnett said.
Maj. Ira Baldwin, a Laurinburg, N.C., native, and mobility chief for the 1st SB, echoed these sentiments.
"I just figured out that I've been throwing a lot of money away that I can use for investments," Baldwin said.
| Date Taken: | 07.14.2008 |
| Date Posted: | 07.14.2008 17:49 |
| Story ID: | 21487 |
| Location: | TAJI, IQ |
| Web Views: | 158 |
| Downloads: | 115 |
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