McLean County Public Library is hosting a nine-week course on finding financial peace that is aimed at teaching people how to stay out of debt or handle debt they may have already incurred.
The first class for the nine-week series was held on Saturday, Dec. 18 with each consecutive class to take place for the next eight Saturdays at 10 a.m. at the library
The course, called Financial Peace University, is based on a class developed by Dave Ramsey in the early 90s after he encountered bankruptcy to help people develop a budget and get out of debt. The McLean class will be held by FPU Volunteer Coordinator Ethan Myers. This will be his second time coordinating an FPU course.
“My wife and I have both gone through the class a couple years ago. We followed the plan and I just felt like it would be a good thing for the community if I hosted the class in McLean County,” Myers said. “There hadn’t been one hosted in McLean County. The closest one was in Owensboro.”
He said the class is a video-based course that is directed mostly toward married couples or couples who are preparing to be married and looking into purchasing homes or anything else that might cause them to incur debt, such as cars.
“It touches on student debt. It touches on car debt, credit cards, bankruptcies. It talks about mortgages … his plan is to avoid debt at all costs,” Myers said. “The only acceptable form of debt would be to borrow money to purchase your home, and even then you’ll want to get that debt eradicated as quickly as possible.”
While the class itself is at no cost since all public library events are free to anyone that wishes to attend, materials for the course are not provided and must be purchased separately. Purchased course materials also include online access to other financial courses online as well as a budgeting application that helps keep track of spending and finances, according to Myers.
For those that are unable to purchase these materials on their own, there are currently three donated online access codes for the course materials that will be available on a first come, first served basis, Myers said.
He said his biggest pointer for those looking at making a significant purchase that could potentially put them in debt is “learn as much as you can about as much as you can. Don’t sign into any agreement or debt unless you fully know what you’re getting into.”
Anyone interested in joining the course can contact the library.
Myers said the library is also in the process of organizing an “Adulting 101” class with segments on finance and budgeting. Updates on library events can be found on the library’s Facebook page.