Anyone here do the Dave Ramsey thing?

[Spear Dane]

It's a cult. Stay away.

 

[hog slayer]

Pretty confident. Been listening for 10 years and his character does not seem to be one that would blatantly lie about something.

But sure, who knows.

just curious. Why so much animosity towards him? He provides 15 hours of free financial advice every week, along with a ton of free online resources. He has an incredible group of people who are debt free using his system. If you pay $99 or whatver for the live in person class it's a lifetime membership and you can go through it anywhere you want as many times as you want. That's about $11/hr for 8 classes if they are an hour long. For financial mentoring. People's cellphone bills are more than that, every single month.

He has free budget apps. Free online stuff.

i don't see what there is to be against. You can disagree with his teaching, but the vitriol I just don't get

I don't mind a bit of swiping but the are just too many words needed in this response. I will defer to a link. To all the Dave Ramsey haters:

7 Unfortunate Reasons People Spew Hatred at Dave Ramsey

 

[Caleb]

We try....although we stumble a lot....

 

[hoosierdoc]

I don't mind a bit of swiping but the are just too many words needed in this response. I will defer to a link. To all the Dave Ramsey haters:

7 Unfortunate Reasons People Spew Hatred at Dave Ramsey

i say "meh" to all of that. Wealth envy and shallowness come to mind for numbers 8 and 9. It says more about the haters than it does about him.

 

[Leo]

If a man cut his hand off using a power saw, and tells me how to avoid that, I would consider the advice timely and prudent. The lack of a hand proves that he learned the hard way.

No matter how Dave Ramsey came to learn about sound and responsible money strategies, I consider the advice timely and prudent.

Not liking the messenger does not automatically make the message untrue.

 

[mbills2223]

Me thinks you haven't a clue what you're talking about.

Meh. I'm doing just fine. Pay my bills, use debt responsibly as a tool, and already have a decent retirement nest egg started at 25. To each their own I guess, but compound interest is reason enough for me to do everything possible to not delay saving for retirement.

 

[BE Mike]

Dave Ramsey believes that just debts should be paid, if possible. He doesn't think most people can use credit cards without going into debt. His beans and rice...rice and beans approach is too harsh for most young adults to consider, since many, if not most, were raised to not be denied anything from their parents. Dave is unabashedly Christian and conservative. He never claimed to be perfect. Like I said previously, I've never attended FPU, but know some people who have and had success. If a couple is ready to really tackle their financial woes, then this is A way. It isn't easy. As for the haters, well haters are going to hate and sheep will pile on.

 

[gregr]

We did the Howard Dayton thing (Crown Ministries) before it was cool. We were even instructors. And that's how we can now afford an X95 with all the fixins. And have no debt at all.

Love Howard Dayton and Crown Ministries!

 

[gregr]

We`re entirely debt free, and my credit score last I checked was 839. I use no credit cards ever. Still wondering though why I can`t hit 850.

 

[patience0830]

I enjoy listening to his show. I don't agree with paying the smallest debt off first though. Also, I use a CC to buy everything as an insulator to my accounts.

For most folks, using credit cards this way is like playing with snakes. Eventually you'll succumb to temptation and get bitten.

BTDT. Still paying it off. But we just paid cash for the materials to roof the south house. Both cars are paid for and we're paying extra principle every month on the mortgage. Got several guns out on consignment currently which will about nail the C/C to the target board.

The deal about the smallest debt first is more an emotional, behavioral thing. Allows you to see immediate progress and then speeds the second debt into oblivion by adding the $ from the first to the payment on the second and so forth. I've heard enough "debt free screams" to know the system works for a lot of people and poo-pooing it because you do it differently isn't very useful.

If you have a hard time making the money meet the end of the month, or you want to understand where all that hard work you did went and why there is so little left, Dave's system can help you do it.

Stick with it L/M. I think the end result is worth the initial pain.

 

[patience0830]

reported. too much like slander for my taste

I think this particular comparison is uncalled for. Dave does a lot more good in the world than I have seen from the haters in this thread.
I note that they have no other platform that I've been in contact with and I have no evidence of their motives but I've seen the good that Dave does and do not see any logical reason to try and dissuade someone from using a proven method to improve their situation.

 

[CHCRandy]

Pretty confident. Been listening for 10 years and his character does not seem to be one that would blatantly lie about something.

But sure, who knows.

just curious. Why so much animosity towards him? He provides 15 hours of free financial advice every week, along with a ton of free online resources. He has an incredible group of people who are debt free using his system. If you pay $99 or whatver for the live in person class it's a lifetime membership and you can go through it anywhere you want as many times as you want. That's about $11/hr for 8 classes if they are an hour long. For financial mentoring. People's cellphone bills are more than that, every single month.

He has free budget apps. Free online stuff.

i don't see what there is to be against. You can disagree with his teaching, but the vitriol I just don't get

I don't really dislike the guy. I am sure he has helped millions of people and that in itself makes him a good guy, but I would be willing to bet for every one he helped, he hurt some as well and many more failed completely. I am sure he is a smart guy but he is by no means the best person in this country to give financial advice. He is simply teaching you how to handle money. Some of the richest people in the world are the poorest money managers, look at professional athletes and such.

I just disagree with much of what he says. I think anyone can do what he sells you. He is a lot smarter than me and he has a lot more money than I will ever have...but still it is just math. Many of us have went through the same schooling he did, the school of hard knocks. I will be honest, I have never listened to Dave Ramsey(other than the video where he says Schiff is an idiot), but when a guy says to pay cash for a car, get your credit score to 0, have no credit cards or any debt, money in envelopes, shame in bankruptcy.......it just sounds silly. I know there is all different types of people needing financial help, such as those who are current on bills but understand they are going backwards every month, those who are late on payments...some still have good credit, others don't and so on. But almost everyone of us have the God given ability to do simple math. I just think we have to have the ability to realize what's happening and fix it, or make a plan before you reach the darkest hour.

If you are in too deep, getting your phone burned up by debt collectors, straining your relationship with spouse, worried car will be repoed....go see the real Zuckerburg and you will enjoy the most refreshing feeling ever. There is no shame in using the laws we have, learn from it and within years life will be good again.

If you are not behind on payments, still have good credit, but know it can't go on like this, change it. If you are paying 29% on credit cards, get another 0% transfer card and transfer to it.....yeah you will pay 3% to transfer but then you get 0% for 18 months, that's 15 months of no interest, at the end of 18 months if you still owe, transfer to another 0%. A $10,000 debt will cost you $200 a month in interest, you're paying $300 for $3600, no brainer. If you got $20,000 in your envelope to buy a car, you really should have been putting that in a Roth IRA or something similar...then in 6 years at 12%, you could pull $20,000 out for the car(your contributions) and leave your $20,000 in earnings(to continue to grow). These examples are just the tip of the iceberg. There is no money better than free money.

Sorry to be so long winded. I guess I said all that to just say I don't dislike Ramsey, I just think every situation is very different. There is not a one size fits all. Never give up and don't expect it to fix itself.

 

[hog slayer]

I don't know the ins and outs of his "program," but I think delaying saving for retirement is completely idiotic.

By this logic you have judged a system that you admittedly don't know much about. We're only talking about 7 basic concepts. So, if you don't know much, as you say, then you would be foolish to call something idiotic.

A subsequent post in attempt to validate your stance by describing your individual and specific position does not, unfortunately, improve your argument. I fully understand the importance of compound interest. Look beyond yourself, though. You may have done well swimming amongst the sharks but very few actually haven't been snared by debt. If you followed Dave you'd recognize that it's not really a math problem. If it was we'd never be in debt in the first place.

Sounds like you've done well for yourself. Now go and be a productive citizen of society and help others. At your age you undoubtedly know many of your peers currently in debt.

 

[CHCRandy]

Meh. I'm doing just fine. Pay my bills, use debt responsibly as a tool, and already have a decent retirement nest egg started at 25. To each their own I guess, but compound interest is reason enough for me to do everything possible to not delay saving for retirement.

That is the smartest thing a young person can do. The law of average says you will be a wealthy man. Wish I had learned that as a young man.

 

[CHCRandy]

reported. too much like slander for my taste

I think this particular comparison is uncalled for. Dave does a lot more good in the world than I have seen from the haters in this thread.
I note that they have no other platform that I've been in contact with and I have no evidence of their motives but I've seen the good that Dave does and do not see any logical reason to try and dissuade someone from using a proven method to improve their situation.

Where was the slander?

 

[mbills2223]

By this logic you have judged a system that you admittedly don't know much about. We're only talking about 7 basic concepts. So, if you don't know much, as you say, then you would be foolish to call something idiotic.

A subsequent post in attempt to validate your stance by describing your individual and specific position does not, unfortunately, improve your argument. I fully understand the importance of compound interest. Look beyond yourself, though. You may have done well swimming amongst the sharks but very few actually haven't been snared by debt. If you followed Dave you'd recognize that it's not really a math problem. If it was we'd never be in debt in the first place.

Sounds like you've done well for yourself. Now go and be a productive citizen of society and help others. At your age you undoubtedly know many of your peers currently in debt.

Okey dokey

 

[wagyu52]

If a man cut his hand off using a power saw, and tells me how to avoid that, I would consider the advice timely and prudent. The lack of a hand proves that he learned the hard way.

No matter how Dave Ramsey came to learn about sound and responsible money strategies, I consider the advice timely and prudent.

Not liking the messenger does not automatically make the message untrue.

Applying your analogy to Dave's plan you would never use a power saw agin, that's my biggest problem with his plan. You sould lean to use debt as a tool, I'm not going to use credit to buy furniture, food or junk from Walmart, I am going to continue to barrow money for supplies and equipment that earns me money.

 

[Rookie]

I've read a few of his books, and I think he gears his plan more towards people who have zero self discipline. Obviously, anyone can benefit from following his plan to the letter, but he isn't above tweaking his plan to fit you. I'll see if I can find something he said...

 

[gregr]

Only in America can you run yourself in debt, file bankruptcy and then make millions off of people wanting financial "advice". That's a little like your preacher being a paroled pedophile........

Also, in America, you have the choice to not deal with someone you so openly dislike.

 

[Rookie]

I can't find it, but I can give the general idea. In one of his books, he was telling about a time when someone called in and asked if he should buy a Harley Davidson. Ramsey said he was ready to tear into him, but started asking questions. The caller had zero debt, fully funded retirement, a couple million in assets and Dave told him to live a little and go buy a Harley.

My take from it is - if you're being responsible with your finances, then there's no reason you can't "waste some money" but you need to prioritize your finances first.