FPU saves D-M members from financial hardship Published May 29, 2008 By 2nd Lt. Mary Pekas 355th Fighter Wing Public Affairs DAVIS-MONTHAN AIR FORCE BASE, Ariz. -- In just over three months, 34 D-M community members saved $31,775 in emergency funds, eliminated $64,142 of debt, and dodged $1.7 million of credit cards offers, and they did it with hard work, commitment, and the lessons they learned from the Financial Peace University. The base chapel offered the 13-week video-based program, which promotes debt-free living and building wealth, for the first time here at D-M in January. The course concluded last month with incredible results, according to Chaplain (1st Lt.) Doug Hess, 355th Fighter Wing chaplain and FPU coordinator. "The overwhelming response was extremely positive," said Chaplain Hess. "Many people lamented over the classes they did missed. Some even offered to finance an Airman to go through the course." The program is a product developed by and featuring Dave Ramsey, New York Times best-selling author, nationally-syndicated radio host and personal money management expert. According to Ramsey's Web site, www.daveramsey.com, more than 500,000 have attended the FPU courses, and that on average, families eliminate debt, with the exception of mortgages, in 18 to 24 months. Course participants paid a discounted fee, based on rank, for course materials that included Ramsey's book, Financial Peace Revisited, a workbook, lessons on CD, and other course aids. "This course more than pays for the tuition with the materials and resources given," said Chaplain Hess. The students also committed to attending a weekly class that featured a DVD lecture by Ramsey on lessons including budgeting, debt, investing, retirement and home-buying. Meeting weekly enhanced students understanding of the materials, and it also created accountability amongst the class. "One of the life changing dynamics of FPU is the class interaction," said Staff Sgt. Brian Cravo, 355th Fighter Wing chaplain assistant. "In that environment real behavior modification happens as participants support, assist, and challenge one another to get their finances on track." Although students were expected to attend the weekly lecture, the objectives of the course were laid out for participants to achieve at their own personal pace. Ramsey repeated in his lessons a series of six "baby steps" that lead participants toward the end goal - to "build wealth and give." "Even though we only have the (first) baby step done, the fact that we have a legitimate and viable plan gives me an overwhelming sense of confidence," said Master Sgt. Chris McKinney, 612th Combat Operations Division. For many of the participants, the class offered a great sense of stability, both financially and in their personal lives. "FPU has given us a good platform to set ourselves up for a financially safe future and a healthy marriage," said Staff Sgt. Matthew Mayo, 355th Contracting Squadron, and his wife, Gwen Mayo. "The class has been very instrumental in aligning my household under one common viewpoint as to how we need to handle our money in both the short and long term," said Sergeant McKinney. "I have been married for one year and I believe that taking this class has helped us to navigate around many pitfalls associated with money management or lack thereof." The chapel will offer the course again beginning June 12 for the first 30 volunteers. The encore is, in part, thanks to the resounding advocacy from the first course's students. "Take it! Take it again! Get your friends to take it," said Tech. Sgt. Cheryl Replogle, 355th Maintenance Operations Squadron. "I wished I had taken or had the chance to get this class when I first came in (the Air Force). Imagine if Airmen today could actually retire after 20 years of dedicated service and not have to depend on his or her retirement with ease!" "This course is a must whether you are a E-1 or 0-6. All have much to gain!" said Sergeant McKinney. For more information about Financial Peace University, call the base chapel at 228-5411.