Dave Ramsey... Worth it?

[hooky]

Why don't the people who have already garnered this knowledge share it with those who have not? Think of it as home schooling.

Here ya go.

Dave Ramsey Homepage - daveramsey.com

It's all right there.

 

[DanO]

TAKE THE COURSE. There is a difference between reading something on your own and taking a course with your significant other and experiencing it together. You get on the same page as far as your plans and how you will operate, you can now hold each other accountable since you are both following "a plan" and you will be able to speak more intelligently about finances to your kids and others in the future.

My wife and I took it several years ago, although we had always been good with our money and did not have much debt besides our house. We both learned a lot of new things, got clarification on some things we did not fully understand, learned the logic behind some of the (correct) habits we had been taught growing up, and learned to articulate sound principles to people who ask us for advice. After the course, we are even better with our finances and our college daughter has gone through the course also. She can explain things about insurance, financial investments, and budgeting that her classmates have not even begun to think about.

So... go with an open mind, treat it as a "date night' with your wife and enjoy it. Totaly worth the time and any cost.

 

[Fletch]

Why don't the people who have already garnered this knowledge share it with those who have not? Think of it as home schooling.

The steps are simple:

0: do a written budget every month and follow it

1: Baby emergency fund... $1000 in the bank
2: Pay off debts by paying minimums on everything except the smallest, and attack that one with every penny you can spare. The mortgage is generally not included in this step.
3: 6 months worth of expenses in the bank
4: 15% of income into retirement
5: college funds and such for the kids
6: pay off the house
7: build wealth and give

The class really isn't about the steps. The class is more like an AA meeting for people who can't manage their money. It's all about modifying your expectations, beliefs, and behavior with regard to money. Most people can't seem to do this on their own... they need support and encouragement from people who are either in it too, or have been there and done that. That's the whole point of the class.

 

[Scutter01]

The class really isn't about the steps. The class is more like an AA meeting for people who can't manage their money. It's all about modifying your expectations, beliefs, and behavior with regard to money. Most people can't seem to do this on their own... they need support and encouragement from people who are either in it too, or have been there and done that. That's the whole point of the class.

That's exactly it. The process is TOUGH when you're deep in debt and realize you have to start digging yourself out. Without some sort of support structure, it's easy to fall back into your spending ways. Dieters know that feeling. Three weeks of salads and you want to "reward" yourself with a cheesecake, but if you do you'll be right back where you started. Hey, we've managed to scrimp and save for a whole month! We can afford a big-screen TV now, even though we're still $75,000 in debt! Just reading a book or knowing the steps isn't enough, which is why I advocated listening to the podcasts on a regular basis.

 

[lovemachine]

Can I get the podcasts for my iPhone?

 

[pinshooter45]

It's worth it if you are going to stick with his plan. The Financial Peace University my wife and I took at our church helped us a great deal. I'd be in a lot of trouble right now being unemployed if I had not followed his system. We broke up into small groups after the videos and did discussions and you share ideas and help each other out. We have only house paynment, utilities, gas, groceries and one small Credit card I keep for online Purchases so some hacker dosen't wipe out my checking account. One spot where divert from his advice. I even used one of his ELP to rollover my 401K to an IRA, Take your money with you, is good advice when you leave a job!

 

[Scutter01]

Can I get the podcasts for my iPhone?

Yes, that's what a podcast is. The name comes from "iPod Broadcast".

Radio and More - daveramsey.com

Here's the direct link to the podcasts:

http://www.daveramsey.com/radio/home/#podcast
http://itunes.apple.com/podcast/the-dave-ramsey-show/id77001367

His show is available in a number of formats, including terrestrial radio.

 

[lovemachine]

Yes, that's what a podcast is. The name comes from "iPod Broadcast".

Radio and More - daveramsey.com

Here's the direct link to the podcasts:

Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan - daveramsey.com
The Dave Ramsey Show - Download free podcast episodes by The Lampo Group, Inc. on iTunes.

His show is available in a number of formats, including terrestrial radio.

Ok. I never done the podcast thing before. Was curious.

 

[eldirector]

Yes, that's what a podcast is. The name comes from "iPod Broadcast".

Radio and More - daveramsey.com

Here's the direct link to the podcasts:

Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan - daveramsey.com

His show is available in a number of formats, including terrestrial radio.

95.9 FM at noon every weekday.

 

[lovemachine]

I've read the book, and have followed it. Never took the classes. I was able to get my Jeep and a credit card paid off.

I kind of fallen off from it though. But I got back into it last month. I wish I never fallen off, but oh well. I learned

 

[Scutter01]

Ok. I never done the podcast thing before. Was curious.

A podcast is pretty much just an MP3 of a radio show. It's meant to denote the delivery medium (a regularly-updated MP3 of a talk show, delivered over the internet) rather than any particular format. Many podcasts are not associated with any traditional over-the-air broadcast at all.

They're frequently found on iTunes, but not always. iTunes and your iPod/iPhone have built-in support for auto-downloading the latest show on a regular basis and synching it to your device.

https://secure.wikimedia.org/wikipedia/en/wiki/Podcast

 

[JiNx0036]

Fletch is spot on, my wife and I haven't read his book or bought the course but we're following the basics that he teaches.

We made a budget and cut a lot of unnessasary costs which helped us out. I use Mint.com since I don't use a cash system besides food and gas. We like it because tracks and organizes all of our accounts for free.

There is a Dave Ramsey app that has some of his major talking points from his podcasts and is updated daily.

 

[DialTone301]

I know several people who have attended his courses and they are very happy with it. I haven't heard anything from him that doesn't sound like just basic common sense to me so I see no value in taking his courses.

 

[FWP9MM]

I highly recommend taking the Dave Ramsey course. Even if you think you have your finances under control, go to the course with an open mind. I guarantee that you will either learn something new or worst case look at your current plans and feel good knowing you are doing the right thing. The other thing is that when you take the class, you are with people that come from all backgrounds and financial situations, which to me everyone's experience is something to learn from, even if it isn't good news.

My wife introduced me to the Dave Ramsey plan shortly after we started dating, when I asked about the envelops that she kept her money in. After that she explained to me that she had paid off over $18,000 in debt in the past year and she was debt free. (Debt consisted of student loans and a car loan). Needless to say I knew I had a keeper! 24 years old, no debt and employed as a nurse.

After my wife and I married she asked if I would go to a refresher course with her, as once you have been through the program you can go to another class for free. So we went and I learned quite a bit and agree with about 95% of what is recommended.

Fast forward two years and I can honestly say, I don't have the stress that I see a lot of people dealing with. My wife and I don't fight over money, the bills are paid and money is being put back for retirement and the house will be paid off in 13 years.

In the last year, we have also worked with one of Dave Ramsey's ELP's and setup Roth IRA's and TERM Life Insurance. Not what most people in their mid 20's want to do, but it feels great knowing things will be taken care of if the unthinkable were to happen.

Is it easy... no are there sacrifices .... yes, but in the end it is a much better way to live in my opinion.

My for anyone that is keeping their emergency fund money in their savings account. Keep a small portion in savings and then find another low risk money market fund or savings account that will pay you as most banks don't pay much if anything. I use ING Orange Savings https://home.ingdirect.com/products/products.asp?s=OrangeSavingsAccount, which pays a 1% return and I can get my money out in 3 days in the event of a serious emergency. You can setup as many accounts as needed, so you can have a separate fund for your 6 months of savings, home improvement fund, replacement car fund, ect.

 

[S8MS-01904]

I'd love to buy his book and take his course, but I can't afford it.

Check your local Library, that's where if able to check out "Total Money Makeover".

 

[Htrailblazer]

The wife and I started FPU a couple weeks ago. We are already seeing the benefits and are not as stressed about our debt or bills. We are in bad shape and this is a must for us. There is light at the end of the tunnel its just going to take a while to get there. With any luck we will be debt free in less than 3 years. So pray for us and wish us luck its going to be a long road.

 

[pinshooter45]

Stick to the plan, and prayer inbound.

 

[B27R]

I understand using it is what makes it useful..... Just dont wanna waste 13 weeks taking it, only to find I have wasted my time on a program that wont work.

-MColford

I'd guess that his program is working...he's privately held and is syndicated by 500 stations nationwide. That's got to point to either one of the best conspiracies ever, or a successful program.

as others have said, it's just like south beach, its only a plan that works if you work it.

 

[Hotdoger]

I'd guess that his program is working...he's privately held and is syndicated by 500 stations nationwide. That's got to point to either one of the best conspiracies ever, or a successful program.

as others have said, it's just like south beach, its only a plan that works if you work it.

1 month necroposter. LOL

DR all the way.