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Dave Ramsey Totally Ruined This Guy's Life (and His Music)

The last post in this topic was posted 2264 days ago. 

 

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forget it.

 

Dave says nobody needs credit.

 

time to shut this board down

 

so we can all stop wasting our time.

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There are some people that can't handle credit just like there are some that can't drink or gamble without getting in over their heads. But almost all people can and most that have problems see them occur when they are young and financially naïve but handle credit just fine when they are older. For those few that can't DR's approach is not awful. DR's problem is that he thinks everyone should avoid credit and that is very damaging to most folk's financial future.

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The one size fits all advice gets old. I listened to his show a few times and heard him debate a caller that had no CC debt, but used rewards cards get a few vacations for free. Even though this guy never carried a balance or paid a penny of interest, DR insisted that he was wrong to have CCs and that the CC companies would eventually lose his payments.

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DR is an salamander who only cares about lining his own pockets. His "method" of having no credit is harmful on many levels.

 

SO is in the same boat. I used to watch her show for the entertainment value of the overgeneralized and many times bad advice she gave (although not on the level of stupidity of DR), but I just got sick of hearing her BS so I stopped.

 

One size fits all advice rarely fits and many times is more harmful than good.

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There are some people that can't handle credit just like there are some that can't drink or gamble without getting in over their heads. But almost all people can and most that have problems see them occur when they are young and financially naïve but handle credit just fine when they are older. For those few that can't DR's approach is not awful. DR's problem is that he thinks everyone should avoid credit and that is very damaging to most folk's financial future.

 

+100.

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The one size fits all advice gets old. I listened to his show a few times and heard him debate a caller that had no CC debt, but used rewards cards get a few vacations for free. Even though this guy never carried a balance or paid a penny of interest, DR insisted that he was wrong to have CCs and that the CC companies would eventually lose his payments.

:lol:

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The guy in the article needs to act like a man and tell his wife to STFU.

I never knew that you had to tell your wife to STFU in order to be considered a man. Thanks for the info.

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The guy in the article needs to act like a man and tell his wife to STFU.

LOL pretty much. I wonder how many shoes the wife has that she didn't want to get rid of!

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I understand why DR is not popular on a credit board and I even agree with some of the criticisms, but the truth is that the average American overspends and would benefit from following DR's advice.

 

You can say the average consumer is financially unsophisticated, which is true, and that the average CB veteran is financially sophisticated, which may be true, therefore DR is not appropriate for the CB crowd. However, I know that if I had followed DR's advice long ago, I would be in an unfathomably better financial state today and so would the majority of Americans.

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He's a good pitchman and a lot of his advice would work if we lived in his fantasy world.

But people get sick, lose their jobs, get divorced, deal with adverse situations, and the list goes on.

Edited by tmcgill

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The guy in the article needs to act like a man and tell his wife to STFU.

I never knew that you had to tell your wife to STFU in order to be considered a man. Thanks for the info.

 

Yep, good to know. Not that I'm about to try it, though...I would like to keep all of my anatomical parts attached, and in the proper place.

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I love DR, but I do disagree with his stance against responsible credit usage.

 

Spend some time in the bankruptcy and auto finance section of this forum, and you'll agree that many people here could benefit from Dave's advice.

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many people here could benefit from Dave's advice.

and I'm sure Kim Jong Un has some advice many people could benefit from.

 

but that doesn't mean I would recommend most people sell out to his ideology.

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I'm sure that there are people that could never use credit responsibly, but that is not the majority of people. It's more important to learn responsibility and self-control, things that every adult should have in life, whether it be credit related or otherwise.

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I understand why DR is not popular on a credit board and I even agree with some of the criticisms, but the truth is that the average American overspends and would benefit from following DR's advice.

 

You can say the average consumer is financially unsophisticated, which is true, and that the average CB veteran is financially sophisticated, which may be true, therefore DR is not appropriate for the CB crowd. However, I know that if I had followed DR's advice long ago, I would be in an unfathomably better financial state today and so would the majority of Americans.

 

I would have less of a problem with DR if he made an exception for charge cards which require you to pif. At least you would be able to establish enough credit to get a decent mortgage. His approach locks you out of low interest mortgages and even DR makes an exception for mortgages.

 

Of the people I know this somewhat intimate stuff about most are somewhat better off having credit cards though one is horribly over her head. I wouldn't have been better off following DR. I couldn't have bought my first home when I did without having had a BankAmericard (pif) and car loan. and I parlayed that into a nice gain in a few years most of which I put into investments and my startup. So following DRs advice would likely have cost me millions.

 

EtoA: Of course many other decisions and a bit less luck would have resulted in the same thing but following DR would have certainly not have made me able to fund a tiny startup when I did and the timing turned out to be critical.

Edited by cashnocredit

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I've used a credit card on his website...he is fine to tell people to avoid credit but he loves making money when people buy his snake oil...

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The idea of "building credit" is a relatively recent notion (i.e. second half of the last century), when credit decisions were removed from local banks, and moved to large trans-national banks. Since they didn't have a relationship with you, they needed an arbitrary metric to 'score' you on - kind of like the SATs for credit. Gaming the credit score is a fun pastime, but it doesn't equal wealth, worth, or real purchasing ability.

 

Most of the "Dave Ramsey Sucks" comments could be alleviated by building a relationship with a local credit union, and getting in-person underwriting. Credit scores are not nearly important (if at all) in those situations.

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The guy in the article needs to act like a man and tell his wife to STFU.

I never knew that you had to tell your wife to STFU in order to be considered a man. Thanks for the info.

 

 

 

You don't. You just need to be in control at the outset of the relationship so she knows her place.

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I think Dave has some valid points and things to consider and strive for, absent a balanced view. What works for one family may not be the solution for another. As posted above, one size does not fit all.

 

I volunteer at a shelter and some people are just hanging on by a single thread. Credit allows them to buy medication and just make it to work each day.

I spoke with one individual who said the price of his medication has jumped from $112/month to $587 in the last few years. He's on a fixed income, and his good credit score allows him to take care of his medical needs and stay afloat.

 

What strategies does Dave have for that segment of the population? Or anyone with too much two-week for a two-week paycheck?

Edited by tmcgill

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The last post in this topic was posted 2264 days ago. 

 

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