Dave Ramsey.....Good, bad?

Sarah, put me down for an autograph too! I did shoot him an email once on a shoplifting restitution issue and he read it on the air but have never called the show.
Congrats!
 
Wow! That's impressive! You guys are sitting in an awesome postion there in Charleston. Gives me something to shoot for hopefully within the next 5 yrs or less. I'd really love to drop the 60 lbs too, I've got it to spare!:rolleyes: Congrats!
 
Gindie,
Thanks so much for the link--we just listened to it (since I never let DH talk, he wanted to hear what Dave said)! I sounded more calm than I felt!

Now to keep up that FIRE motivation to save save save! Thanks again!
Sarah
 
Sarah

Congratulations. You sounded very happy on the show. We hope to follow your example soon.

I will note that while I don't care for Dave Ramsey, and listening to him again reinforced this, his advice is a lot better than a lot of other people (Rich Dad for example), for getting out of debt.
 
I find Ramsey to be debt-phobic to a fault. Yes, much of this makes sense for most people in most situations, but he doesn't seem to care that some people can use non-mortgage credit to their financial advantage. The assumption seems to be that no one is capable of using it wisely, being its master instead of its slave, which I reject.
 
ziggy29 said:
I find Ramsey to be debt-phobic to a fault. Yes, much of this makes sense for most people in most situations, but he doesn't seem to care that some people can use non-mortgage credit to their financial advantage. The assumption seems to be that no one is capable of using it wisely, being its master instead of its slave, which I reject.
Click to expand...

I understand what you are saying. But this is radio and he is talking to the general public so he has to keep it simple. He really can not say no debt except for ......... because the general public will think they are financially adepth to do it and will screw it up and blame Dave.
 
Dave Ramsey is perfect for someone with a debt / budget problem. It's very simple and direct. It will work if people follow it. I disagree with sending people to his "endorsed providers" for mutual funds but I realize he's making a buck.

I enjoy listening to his show mostly to hear the horror stories. "There but for the grace...." It reinforces me making the right choices years ago.
 
dex said:
I understand what you are saying. But this is radio and he is talking to the general public so he has to keep it simple. He really can not say no debt except for ......... because the general public will think they are financially adepth to do it and will screw it up and blame Dave.
Click to expand...
I suppose that's true. In a one-on-one consultation perhaps a financial advisor could see if you were the type who could use debt appropriately and to your advantage rather than someone who would be sucked in and get in over their head. I suppose there's something to be said for the need to go for the lowest common denominator, and that means assuming the listener isn't the type who could improve their financial situation by using credit.

For example, if there are no cash discounts, you could make a large purchase with a cash-back credit card and pay it off at the end of the month. Or if there were no cash discounts or rebates, you could take 12 months of 0% financing, earn 5% on the purchase price in a money market fund and then pay it off after 360 days. These are good uses of credit for those who understand it and have the resources AND discipline to use them responsibly, reap the rewards and then pay it off before paying any interest.

I suppose Ramsey isn't in a position to assume the general public will be that responsible with credit. A lot more people probably THINK they are able to do this than really are, and that might be reason for the blanket anti-debt and anti-credit positions. It's sort of like polls that show about 85% of people think they are above-average drivers.
 
I think Dave does a pretty good job over all but one thing that bothers me is he actually sells envelopes for the envelope system he preaches on his show. The system itself is probably good but it seems crazy for anyone to pay a premium price for this when all they have to do is buy some cheap ones at the local dollar store.

Designer Envelope System

I realize he is entitled to make a buck for his advice but come on, this is taking it a little too far.
 
I say good for him. If people like his advice enough that they want to buy his envelopes, thus supporting him, who really cares? It's not like he's making anyone buy the stuff.


Dawg52 said:
I think Dave does a pretty good job over all but one thing that bothers me is he actually sells envelopes for the envelope system he preaches on his show. The system itself is probably good but it seems crazy for anyone to pay a premium price for this when all they have to do is buy some cheap ones at the local dollar store.

Designer Envelope System

I realize he is entitled to make a buck for his advice but come on, this is taking it a little too far.
Click to expand...
 
As we hear all the time on this forum, we are not the GP (general public). I think what he really preaches is LBYM, which for most folks means quit using plastic to stretch their lifestyle beyond their paycheck.

When I listen to the horror stories I remember that the GP are not like us, especially those heartbreaking payday loan nightmares-- those loan sharks should burn. I couldn't imagine dealing with collectors, and hearing their stories reminds me of how very fortunate I am to have never been ensnared by easy money.
I think he makes a good bit of his money from the live events, which are very well attended. Like a musician selling cds and concert tickets, no? Funny, now that I think about it, I don't own any of his books and I made my own envelopes! But I did buy tickets to the live event he had here 5 years ago and it was very worthwhile.
 
Congrats, Sarah! I think the goal of being debt free is an admireable and practical one.

With that said, I think that Ramsey's program is great for getting rid of CC debt, etc. But his prejudice against bankruptcy is unrealistic for some, especially those with large medical bills that are destroying any hope of financial solvency. I think his take on debt as a moral/religious delimma is not helpful in our country where those without health insurance can end up totally bankrupt with no recourse.

On the other hand, some extra moral admonitions against debt can be helpful to those spenders without self-discipline who live for today. But then, they are probably not the ones who would listen to his show.

Also, Ramsey always says that if you invest in mutual funds you can expect to earn an average of 10-12% over time. That is BS in this current economic climate. He's totally misleading people and that is unethical, IMHO.
 
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