"Feed the Pig" and "Financial Peace": A Comparison

Financial Peace Website

As I have indicated in several previous posts, my wife and I are attending Dave Ramsey's Financial Peace program this summer. The American Institute of CPAs also has launched a personal finance program called "360 Degrees of Financial Literacy" to demonstrate the ability of many CPAs to assist clients with financial planning. One of the creative brainstorms of the AICPA program is Benjamin Bankes, host of the "Feed the Pig" program (many savings banks for children have been in the shape of a pig). In looking at this week's Feed the Pig advice, Benjamin (the pig) had several things that are included in Financial Peace and several others that are not specifically mentioned in Financial Peace but ideas that Mr. Ramsey probably would agree with. Pig advice which are part of Financial Peace include: make a budget, take advantage of your employer's 401K (especially if the employer matches), use savings cards (or coupons) at the store (one of the Financial Peace slogans is "Never Pay Retail") and save the amount of raises and live on your previous salary. Not mentioned in Financial Peace, but ideas Mr. Ramsey probably would like from Benjamin the pig: make a large meal on the weekend and eat leftovers all week, bring your lunch and your coffee from home, watch DVDs at home rather than go to movies and stop smoking. By the way, my guess is that most if not all of Benjamin's "Tips for Painless Savings" have appears on several of the personal finance blogs linked at right.

Both "Feed the Pig" and Financial Peace have useful advice for those trying to manage their money better. The advice is only as valuable as one's willingness to apply it, however.