Dave Ramsey

[nicstockman]

Originally Posted by FloydTheBarber

The problem with people like Dave Ramsey is that he fails to recognize many people are not in debt because they get coffee from Starbucks everyday...they're in debt because of an unforeseen expense...a hospital stay, losing a job, whatever.

Have you listened to, or read anything by him? Or, have you just heard what others have said about him?

[FloydTheBarber]

Originally Posted by nicstockman

Have you listened to, or read anything by him? Or, have you just heard what others have said about him?

I've listened to his show on XM.

I have not purchased his books or CDs. Afterall, that is a luxury that I can use the money towards paying down my debt!

[stiffolcock]

Originally Posted by FloydTheBarber

I've listened to his show on satellite radio (when I'm in a rental for business trips that have satellite radio...afterall, I'm sure he'd encourage his users to NOT have such a frivolous luxury! haha)

I've just found his stuff to be kinda...obvious? At least his 'get out of debt' advise. I never really got much out of it.

his show and his class are 2 different things, and he does not encourage users to not have frivolous luxuries, as long as they can pay for them.

[stiffolcock]

Originally Posted by FloydTheBarber

I've listened to his show on XM.

I have not purchased his books or CDs. Afterall, that is a luxury that I can use the money towards paying down my debt!

would you like a free copy of his book (financial peace)?

[FloydTheBarber]

Originally Posted by stiffolcock

his show and his class are 2 different things, and he does not encourage users to not have frivolous luxuries, as long as they can pay for them.

But so long as I have a mortgage, why would he think it'd be a good idea to have any sort of frivolous luxuries? Doesnt that contradict his whole message (at least the one he preaches on his show, aside from his commercials of course)

[stiffolcock]

Originally Posted by FloydTheBarber

But so long as I have a mortgage, why would he think it'd be a good idea to have any sort of frivolous luxuries? Doesnt that contradict his whole message (at least the one he preaches on his show, aside from his commercials of course)

no, it doesnt. you actually dont pay off the mortgage until baby step 5 i think. he pushes budgeting. if you want to pay off the house in 10 weeks, he has no problem with that. entertainment is in the budget.

[FloydTheBarber]

Originally Posted by stiffolcock

no, it doesnt. you actually dont pay off the mortgage until baby step 5 i think. he pushes budgeting. if you want to pay off the house in 10 weeks, he has no problem with that. entertainment is in the budget.

Sounds like he suggests strategies I already employ.

[stiffolcock]

Originally Posted by FloydTheBarber

Sounds like he suggests strategies I already employ.

that is good on you. you are ahead of 99% of the people that have debt. if you wish, meet up at wildwings before the spring game, i will bring sneez, maybe 2000grad and my copy of the book.

[nicstockman]

Originally Posted by FloydTheBarber

Sounds like he suggests strategies I already employ.

Then keep on keeping on.

His advice is still valid, nonetheless.

[stiffolcock]

Originally Posted by nicstockman

Then keep on keeping on.

His advice is still valid, nonetheless.

i loved the class. the "dealing with debt collectors" was pretty informative. actually got to pass that on to a friend of mine that was in a bad situation, he is paying his bills, but with none of the stress he was having. liked the finding deals chapter too.

[b381l]

I like him. Most of what he says is common sense, which is why some don't seem to understand him very well. Things like if you make 100k, don't go buy a 500k house and a 75k car.....don't overextend yourself with debt. If you do that, the rest is easy. Also, make sure to fund your 401(k) or IRA each year.

[nicstockman]

Originally Posted by stiffolcock

i loved the class. the "dealing with debt collectors" was pretty informative. actually got to pass that on to a friend of mine that was in a bad situation, he is paying his bills, but with none of the stress he was having. liked the finding deals chapter too.

That's awesome.

I think some people believe that Dave came up with some new-fangled way to make more money. He doesn't do that. He simply gives you a plan to put in place that helps you mange the money you already have. It's honestly pretty basic and common sense stuff for the most part. But knowing that to do and having a plan in place and actually putting what you know into practice are two very different things.

[stiffolcock]

Originally Posted by b381l

I like him. Most of what he says is common sense, which is why some don't seem to understand him very well. Things like if you make 100k, don't go buy a 500k house and a 75k car.....don't overextend yourself with debt. If you do that, the rest is easy. Also, make sure to fund your 401(k) or IRA each year.

financial sense is not taught in highschool. Home Ec classes need to be revamped to teach kids to deal with everyday crap like finances, buying car insurance/home insurance, etc, not baking muffins. i had to learn on my own how to let money run me instead of the other way around.

[uscjeremynca]

Honestly, I've done all 7 of these and never read these tips from Ramsey. I did read the one about paying off debt after I already started doing it years ago.

[stiffolcock]

Originally Posted by nicstockman

That's awesome.

I think some people believe that Dave came up with some new-fangled way to make more money. He doesn't do that. He simply gives you a plan to put in place that helps you mange the money you already have. It's honestly pretty basic and common sense stuff for the most part. But knowing that to do and having a plan in place and actually putting what you know into practice are two very different things.

i think the biggest thing is that people with money problems have no idea where it is going. have to do a budget, and balance the damn check book. then you cut out the bad spending.

[stiffolcock]

Originally Posted by uscjeremynca

Honestly, I've done all 7 of these and never read these tips from Ramsey. I did read the one about paying off debt after I already started doing it years ago.

he did not come up with the steps, he just packaged it a different way that some people like.

[2000grad]

The only plan I ever use

[uscjeremynca]

Originally Posted by scfan2001

Getting rid of debt. His Total Money Makeover book was an eye opener and a quick read. It helps you develop a gameplan instead of winging it. I did everything he suggested. I sold my truck, paid $800 for a car with 208K miles on it and two years later I'm still driving it. It has almost 244K on it now. I used to struggle with money around Christmas time and use credit cards to buy gifts, now I pay cash for the gifts and have no credit cards. It really gives you peace.

There's nothing wrong with credit cards if you know how to use them. I use them every month. However, I pay off the balance every month and never carry any debt.

It's not the credit cards that are evil. It's not knowing how to manage your money and spending more than you have. The credit card itself is not the issue.

I actually have no idea what my credit card interest rates are. Why? Because they are irrelevant when you spend only what you have and pay off the balance every month.

[uscjeremynca]

Originally Posted by stiffolcock

i think the biggest thing is that people with money problems have no idea where it is going. have to do a budget, and balance the damn check book. then you cut out the bad spending.

This is a side hobby for me. I've created a budget spreadsheet that ties to my checking account and includes anything I spend on credit card to give me my actual expenses measured against budget. I showed it to my CPA co-worker and it made her head spin :)

[nicstockman]

Originally Posted by uscjeremynca

There's nothing wrong with credit cards if you know how to use them. I use them every month. However, I pay off the balance every month and never carry any debt.

It's not the credit cards that are evil. It's not knowing how to manage your money and spending more than you have. The credit card itself is not the issue.

I actually have no idea what my credit card interest rates are. Why? Because they are irrelevant when you spend only what you have and pay off the balance every month.

Why do you even have a credit card then? Honest question. I've never had a credit card.