Dave Ramsey Readers

[Ster]

I am going to post a contrary opinion to everyone else just so you can have other considerations. I believe that Dave Ramsey has a great plan that the far majority of American's need to hear in order to have financial success. However, his steps are necessarily for everyone. Let me tell you a story and see what you think. There is this guy, we will call him Bob. Bob was financially stable with no credit car debts, no car notes, no other debts outside of his 15 year home mortgage. Bob had the notion to take a big risk and start a new company. This guy doesn't have the income to facility self financing the project and has two choices before him. 1) Borrow the money. Create a business plan, present the plan to a bank and request a sizable loan to start the company. or 2) take Dave Ramsey's advice and save up money until the accumulated cash of $750,000 is reached to start the business.

Had Bob followed Dave Ramsey's plan the risk would have never been taken, and a start up company that now generates over millions in production and employees 28 people with well paying jobs and benefits would have never happened.

I think Dave Ramsey has excellent ideas, but isn't always the right answer. Judging from your post, to me you seem like a level headed guy that responsible with your finances. I am sure that you will be fine. What makes Dave Ramsey so good is that his plan addresses the far majority of American's that are not fiscally responsible. I love the recommendation above about reading "The Millionaire Next Door".

The main thing to remember is to have a plan. Know what you are spending money on by having a budget. Realize what are needs and what are wants. Have a longterm plan in place (how much money do you need to retire etc...)

[rjohnson]

[simplepeddler]

I agree, Dave is about HELPING people who have been convinced by marketing that they "derserve" everything right now.
OR those like me, that because of divorce and loosing a job, I found myself WAAAY far in debt (96K in credit cards alone).

Dave's class gave me the courage to face down the CC guys, and get my affairs in order.

Did my credit suffer? damn skippy..........did I get lots of ugly letters and calls???

yep........

but ten years later all is good. No bankruptcy and credit score is restored.
I am sure if I met him, his advice on INVESTING is different than his advice on getting out of a hole.

But you can't go wrong paying for cars and things cash other than a house.
Leveraging is something all together different. A person who cannot understand the ramifications of 35% interest and minimum payments on CC is not going to understand leveraging for positive cash flow. Again, too many of us today put the cart before the horse when it comes to money Vs wants

[rjohnson]

[simplepeddler]

trust me...........I didn't............
I was blessed with another job, that came with a damn big shovel.

[Drake2]

[riverat]

Dave Ramsey should only be considered by people that have dug a deep hole and have no where to turn but to buckle down and get out of it. Dave Ramsey is the way he is because he spent money like an idiot and he had to make a life change. Responsible hard working people, dont take that the wrong way, that follow him will quickly realize they have financial freedom but he has scared them so bad that they have no freedom. He tries to get people that have never really been in DEBT to be so petrified by it that they quickly find themselves rich but they missed living out what they really wanted in life.

1. Keep at least 3 months worth of living expense in savings, and don't ever touch it until you need to live off it(eat and pay bills)
2. If you're going to borrow money, do it to live, grow revenue, and be happy.. and borrow it against your home.
3. Only use credit cards to get the points
4. Your credit will follow you longer than your reputation, don't ruin it.

My dads saying that I will never forget, "Wealth is not how much money you have... But what you have you wouldn't take money for."

[Faithful Retrievers]

[flyhi2]

Dave could never be a farmer.

[dukluk]

[SWAG]

Dave has admitted he will not offer advice on family farm calls. Heard it more than once on the radio show.

[stang67]

[Smoke68]

This seems to be the way a lot of these Dave Ramsey threads always turn out. Haters gonna hate.

[simplepeddler]

I don't beleive it's hate.........maybe fear.
It's tough to say "no" when you friends call and want you to go eat a 250$ dollar meal.........

I think Dave is trying to carry on a ministry that he is called to. That of making people debt free. The Bible certainly taks about being debt free. Dave is a strong beleiver. He is convicted to do what he is doing.

It's easy to pick apart what he beleives, but for the larger part of American's its good habits to form.
Just think, that if we can teach the next generation about the evils bad or misuse of debt, we may not have as many on the dole.

light one candle- curse the darkness

[Smoke68]