I finally paid it off

[the doctor]

everyone that i know that hates Dave Ramsey is in debt up to their ears and dont want him stepping on their toes. Why save and pay cash when you can make notes and ride today or pay 30 years on a house note instead of living in what you can afford.

Not me brother. I have been SMART for quite some time. I dont like him because he is telling broke(DUMBARSES) people to buy his book. THen he tells them to not spend more than you make. Well no crap. That is why I say he is talking to dumbarses. I listen to him everyday, and it never ceases to amaze me.
Caller: Dave, I am broke and they took my car and are taking my house. I make 30,000 and live in a 500,000 dollar house and have two cars worth 50000. What do I do?
Dave: Have you bought my book?
Caller: Yes, and I attended your seminar.
Dave: Good, now sell your house and cars.
Caller: Wow Dave, you have saved my life. Thanks a bunch

I agree...there is no help for most of his callers. They spend way more than they will be able to repay in three lifetimes, so why not get a little piece of the action and sell them a book or a seminar...for cash of course

way to go Dave

makes you wonder though, can you attend a DR seminar and pay on a credit card? and for you followers, not all debt is bad

the doc

[Super Black Eagle]

and for you followers, not all debt is bad

the doc

But does it out weigh the risk?
I am not a card carrying, koolaid drinking, gazelle intense, rice and beans-beans and rice 'follower', but I tend to agree with a lot of it. Keep in mind I am not a trained number cruncher either; so I do respect your opinion here.

I understand if your mutual fund is increasing faster than the interest on your mortgage then it doen't make 'cents' to pull it out and pay off the house.......but is it worth the risk? Is that mutual fund, IRA, stock option, etc. going to continue to pay out? is it guaranteed?

Would you borrow against your house to purchase the stocks, or build a mutual fund?
Sunk-cost

[wing shot 1]

I have never made a car payment in my life and never purchaed a new car, never will. I understand some car payments can be as much as a mortgage payment.

[Jelly]

DR makes his money selling his "master of the obvious" points. Keep in mind, he went completely broke "working" like the normal man... An you want to listen to this man? I agree with a lot of what he says but some of his stuff is WAYYYYYY off.

[cwink]

My wife and I went thru his financial peace class. Which was a great help for us. It got both her and I on the same page which really helped alot.. And he is a great motivator to get out of debt in the class as well.I don't think his radio show is as good as the class was. Yeah it cost us a 100.00 bucks for the class but it has more than paid off. We are debt free now and plan to stay that way..

[Bankermane]

Get a car like bigwater's.

http://www.basspro.com/webapp/wcs/store ... at=3401814

[the doctor]

IMO you should never in any circumstance borrow money to invest in financial markets trying to outperform the interest rate you will have to pay on the borowed funds

good debt: home mtg, student loans, car loans (if managed properly)

bad debt: Credit Cards, lines of credit withindividual retailers, second mtgs, home eqquity lines of credit (if the use of the funds is not legit ie medical exp, tragedy, etc)

Keep in mind th eequation we are dealng with has but two sides: revenue and expense...if you need more money then you either increase revenue or decrease expense and the key to any type of management but particulay financial management is DISCIPLINE

I like the idea of "my money" staying with me

If I have chosen wisely then the house I am living in and that is likley financed is going to hold its value and in many cases appreciate in value...so if you are within your means and the payment is manageable (mine is) I keep my money with me meaning I invest it in other mechanisms...if I put it towards paying of my house then it is stuck unelss I want to pay interest on my own money with an equity (money on papaer) loan to get it out

I view student loans similarly because there should be a payback on the money you originally borrowed (increased salary) and the interest is tax deductible and should be relatively low

debt on a vehicle IMO is a different story and more similar to credit card debt...often a necessaary evil in our times (it is tough to survive without a vehicle and some intstitutions only accpet CC as a payment) this is the piece that is tougher to manage

but what do I know...as mentioned earlier I am in it up to my ears...but it is manged and I am disciplined, or should I say more disciplined than most

the doc

[tombstone]

paid mine off in April. Sure feels good. I am now putting money back every month for the next one. Hopefully I will pay cash for it. I don't know about yall, but seems like by the time you pay one off, warranty is out and you better have some $ tucked back for repairs.

[Duckdawg10]

good debt: home mtg, student loans, car loans (if managed properly)

To each his own, but for me no debt is good debt. I had this discussion with my grandad a while back. He has no debt, has more money than I could wish for. Buys a new truck, writes a check. He had a collection agency call him about some stuff.(stolen ID) He was worried because they said that his credit would be screwed. I asked, "why in the hell he cares". He pays for everything in cash. This is the problem with the world today. Credit is pushed down your throat. Everywhere you turn, you are offered credit and told you need credit. If you dont owe anyone, you can make your money work for you, not someone else.

[grnhed]

Congrats! thats huge!

[jwarwick]

[quote="Duckdawg10"][quote]
That is why I say he is talking to dumbarses. I listen to him everyday....

good'un

[crowder critter]

I wouldn't say that Dave talks to DA's put people that have got caught up in the ways of the world. People have learned to live on what you can borrow, not what you make. As Dave says all the time, which comes straight from the Good Book, the debtor is slave to the lendor.

[teul2]

Since i am jumping in on the "Lynch Dave" party, I, like others have said, think some of his points are smart, but some are just ignorant.

As to some of you guys advice, mutual fund idea is good. But I think I am going to start paying off the house with the extra money. Making a payment and a half every month should cut down my total "paid to the bank" by a good bit by knocking some of that principal down.

Oh, and I need a 4 wheeler too so my mortgage isn't getting all the money

[woundedduck]

ramsey is a freaking idiot. you know that his show in jackson that the vip tickets sold out in like a day. oh yeah, they were like $180 apiece. some people are just not too bright.

[mudsucker]

ramsey is a freaking idiot. you know that his show in jackson that the vip tickets sold out in like a day. oh yeah, they were like $180 apiece. some people are just not too bright.

I had two!