Thoughts on this Dave Ramsey stuff?

[LargeOrangeFont]

Nothing he teaches is or speaks about is bad per se. The basic tenants are good, the ability for development of good communication and discipline is great.

If you have a plan, and discipline, you will be fine. You have to remember he is going after the lowest common denominator here. Those people shouldn’t have a new car or be taking a $20k vacation on a credit card every year with $200k of student debt anyway.

 

[Bigbore500r]

Nothing he teaches is or speaks about is bad per se. The basic tenants are good, the ability for development of good communication and discipline is great.

If you have a plan, and discipline, you will be fine. You have to remember he is going after the lowest common denominator here. Those people shouldn’t have a new car or be taking a $20k vacation on a credit card every year with $200k of student debt anyway.

"where cash is king, and the 1/2 ton max tow has taken the place of the ole C2500"

 

[MeCasa16]

I’ll save you all the time and money from Dave Ramsey’s program with some basic personal finance principles. I’ll give it to you without any of the religious preaching too. I was lucky enough to have had personal finance discipline throughout my life, but many of the kids growing up along side me did not.

Spend less than you earn.

Don’t get into deep credit card debt. If you use a credit card, pay it off every month.

Enjoy every moment in life. It is a gift that we are not owed, and it can be taken from you at any moment. This could be your life, or someone else’s who is a pivotal person in your life.

That being said, enjoying life doesn’t have to mean spending money.

Tithe to your retirement. Increase it a couple percent every year until you hit the annual max. If and when you do, find more ways to save.

Be a good person. It’s free.


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[LargeOrangeFont]

"where cash is king, and the 1/2 ton max tow has taken the place of the ole C2500"

1978 big block dually beater for $2000

 

[brgrcru]

Did Dave Ramsey have a booth at the a boat show ?

 

[nowski]

Your never to young to start the Dave Ramsey journey...

About 6 1/2 years ago I received a High School Graduation announcement from buddies son out in Georgia. Instead of sending cash I decided to send one of Dave Ramsey's book as a gift. My thoughts, cash would be spent and forgotten but that book (if read) would make a lasting impression.

This past summer while visiting our friends I asked how their son (Recent GT Grad, Groom and home owner) was doing? Their response Great. They mentioned that he received a Dave Ramsey book from someone back when he graduated high school and has applied those principles to all his financial decisions ever since. I had a Big Smile on my face knowing my simple gift was a life changing one...

 

[nowski]

Did Dave Ramsey have a booth at the a boat show ?

If he did he would have said to buy used over new...

 

[brgrcru]

If he did he would have said to buy used over new...

yes he would , but he would also ,tell you to buy a little 17' Tahiti out board, with a ski pole for $4500 cash and call it a day. which is fine . if it runs, it's just as much fun.

 

[Xring01]

There is alot of things that I truly agree with in his methods and teachings.

One key thing that he doesnt accurately cover/portray...

Is the cost of housing in areas where Real Estate is very expensive. If you used his ideas in those markets, most people would rent for the rest of there life. Because they would never be able to use his methods to get into the housing market.

Because the cost to rent is so expensive in those areas, makes it more difficult to save for the down payment for a house (huge portion of annual income is being spent on rent), combined with the fact the cost of house's typically goes up over time, making it more difficult to get into a starter home to begin with.

 

[Englewood]

There is a reason he sells his stuff at church seminars...These people need direction from someone else before they can walk.

 

[nowski]

yes he would , but he would also ,tell you to buy a little 17' Tahiti out board, with a ski pole for $4500 cash and call it a day. which is fine . if it runs, it's just as much fun.

That's funny my first boat was a 16' Tahiti i/o with the 120hp Chevy 4...

 

[Mcob25rg]

I've custom ordered new, and i've had 30 year old stuff - it doesn't have anything with the fun factor, just the ego, and at this stage, im all about it being paid for.

 

[WYRD]

His teachings are common sense however many people can't be self taught at an early enough age so they need guidance. Ramsey provides that at a premium. Make no mistake, it's more about revenue and profits than helping people and he has aquired wealth from selling common sense to the masses.

That said, his methodology did help accelerate my personal situation to pull my head outta my own ass and focus on the end goal sooner than I otherwise would have.

 

[DRYHEAT]

Dave Must’ve hit a nerve with some of you judging by some of the distain I hear in this thread.

I find his show a bit corny but rather entertaining. The amount of people making 300 K a year and can’t seem to get their shit together is amazing.
I don’t care where you live if you’re pulling down $300,000 a year and struggling you have a money management problem.

 

[monkeyswrench]

I got my teeth kicked in with big house and car/toy payments...didn't need to read a book to learn to spend only what you can afford. Little house in an area I like is paid off, doublewide at river is too. Not bad for a wrench turner/hammer swinger

...but I don't have shit for retirement...fuck it, I'm 42. At least if I die there's some insurance policies

 

[Carlson-jet]

Save some of what you make and live within your means is a concept. Some just file for bankruptcy after getting into debt way over their heads. Both can make out. It all depends what state you live in and what creditors one might default on. Some make a good life spending more and focking over creditors. Others can't/wont stomach the latter. The person who owned my house prior took out almost double what I bought it for. Defaulted on that loan but managed to buy a house worth double when the market was down. My house is worth about 40% more than I paid for it. His house has doubled but at 2X the price. In the same time he made 300k while I maybe made 100.
Had the prior owner lived in Colorado it would not have happened that way.
It is time for reform where writing shit off/welching doesn't happen.

 

[pronstar]

Ramsey gives good advise.
Others give good advise as well.

There no one right, best answer.
What works for a business owner may not be best for an employee.

Take all of the info available and craft a plan that works best for your goals and situation [emoji106]




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[J.P.]

I like when Dave Ramsey goes on a smack down about being financially stupid. I was that guy for a long time but not any longer, having cash and no debt works really well.

 

[boatdoc55]

I like when Dave Ramsey goes on a smack down about being financially stupid. I was that guy for a long time but not any longer, having cash and no debt works really well.

X2 Having my eyes opened in my 40's have made ALL the difference in our life now that the earning days are over. It's a feeling one can't pass on to younger people that won't listen. Live in your means while young and your senior years will be extremely nice and comfortable.
Too many have the "want it now" feeling without any thoughts or regards of what's going to happen when those big paychecks quit rolling in because they were replaced by some one younger than them as they once did when they were younger.

 

[rivermobster]

Never heard of him till this thread...

I've always paid cash for toys. Sure I have debt, but what I own FAR outweighs what I owe.

To me, it's impossible to be debt free. Even if you do have a paid off house, you still have property taxes and utilities and all that. Not to mention you have to eat!

Live for today and plan for tomorrow, cause ya never know when you are gonna kick it!!!

 

[Looking Glass]

Never heard of him till this thread...

I've always paid cash for toys. Sure I have debt, but what I own FAR outweighs what I owe.

To me, it's impossible to be debt free. Even if you do have a paid off house, you still have property taxes and utilities and all that. Not to mention you have to eat!

Live for today and plan for tomorrow, cause ya never know when you are gonna kick it!!!

YOU do NOT understand the term DEBT!!

 

[cofooter]

Never heard of him till this thread...

I've always paid cash for toys. Sure I have debt, but what I own FAR outweighs what I owe.

To me, it's impossible to be debt free. Even if you do have a paid off house, you still have property taxes and utilities and all that. Not to mention you have to eat!

Live for today and plan for tomorrow, cause ya never know when you are gonna kick it!!!

You can do it, just eat top ramen like Dave says

 

[monkeyswrench]

You can do it, just eat top ramen like Dave says

F' that...I ate Cup a Noodle and bologna for a year when I got my first house. It was for survival, not to pay down debt.

Ever look at the sodium content in that crap? Any money you save will have to go toward medical stuff later

 

[cofooter]

F' that...I ate Cup a Noodle and bologna for a year when I got my first house. It was for survival, not to pay down debt.
Hey, just quoting Dave Ramsey the fun hater, haha
Ever look at the sodium content in that crap? Any money you save will have to go toward medical stuff later

 

[rivermobster]

YOU do NOT understand the term DEBT!!

You are correct.

All I do know is...

I should be able to retire comfortably soon. So that's all that matters to me!

 

[monkeyswrench]

You are correct.

All I do know is...

I should be able to retire comfortably soon. So that's all that matters to me!

...And that, kind sir, is all that really matters. As long as the endgame is good, the road there can be different for everyone.

 

[Shrub Lurker]

I liked the reply he told the farmer that called in and mentioned he had debt and a tractor. Dave told him to sell his tractor and go rent one when he needs one.

or the lady that called in last week that wanted to sell her house and buy an Rv (trailer) and truck to pull it with to travel with her little kids for a couple years. He suggested that her $100,000 truck and trailer package will be worth 50% of what she paid for it in “no time”. Then suggested she go rent one for a couple years.

I’d say he might be lil outta touch at times