Budgeting 101: Financial Peace University by Dave Ramsey

Treatment Focus: Money Management

Group Size: 1+Equipment: Basic

Time

45-60 minutes

 

Equipment

– White Board
– Markers
– “Financial Peace University” Handout

 

Treatment Objectives

  1. Learn how to create a “Zero Balance Budget” to better manage monthly expenses

  2. Learn Dave Ramsey’s “7 Baby Steps” for paying off debt, building wealth, and using it to help others

  3. Learn helpful skills and techniques for developing discipline with handling money

 

Intervention Description

  1. Prepare whiteboard for group

  2. Greet people and take attendance

  3. Introduce the group and goals for the group

  4. Pass out handouts to group members. (Here is a budgeting handout: Financial Peace University Budget Handout)

  5. Begin discussion about money management. Ask group members how they would rate their money management ability.

  6. Introduce group to Dave Ramsey’s “7 Baby Steps” and explain the discipline money management takes. Answer any questions or excuses the group members might have about managing their money wisely.

  7. Discuss how budgets are used to manage money. Have the group members complete the “Zero Balance Budget” handout. Make sure they have an accurate idea of where their money is going.

  8. Explain the concept of “debt” to the group in both a psychological and practical sense. Discuss “Baby Step 2” and how they can use the money they were able to save each month to pay off their debt and start building wealth.

  9. Explain the remaining steps and emphasize being on the same page as their significant others (if applicable)

  10. Discuss the “Envelope System” and how it can be used to develop discipline.

  11. Debrief group about what they learned and ask group about how they are going to apply this knowledge in their lives.

 

Intervention submitted by Nathan Lamaster, CTRS

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