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Dave Ramsey nonsense?

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I do think DR has a valid point. Not everyone can handle credit Families can get ruined. A credit card is like a free bar to an alcoholic. Some people are addicted to spending. I personally use credit cards for security and cash back and always PIF. For me DR's advice is not relevant. Though, I do not have a mortgage nor a car loan.

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I do think DR has a valid point. Not everyone can handle credit Families can get ruined. A credit card is like a free bar to an alcoholic. Some people are addicted to spending. I personally use credit cards for security and cash back and always PIF. For me DR's advice is not relevant. Though, I do not have a mortgage nor a car loan.

Basically speaking, if one cannot control their bowel movements they need to wear diapers.

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I personally think it's all about using common sense for your situation. To each his own. My wife and I went through Financial Peace University and it has been a life saver. We are paying off our credit cards and student loans very quickly. We completely stopped using credit cards. We downsized to one car and it is a 2003 Honda Pilot. It's completely worked for us, and we are grateful.

 

At the same time, had we totally followed Dave's plan, we would not be buying the home we are getting through NACA, because he wants us to wait until we have 20% down. It would make no sense for us to have waited. We locked in a 15 year loan at 0.125%, using the builder's money. So we could have never topped that deal.

 

Again, you just need to evaluate your personal situation. My wife and I have used debit cards for all of our recent flights, hotels, and rental cars, and we are totally fine. We don't touch credit cards. We recently switched to all debit, because the cash plan was leading to too much miscellaneous spending.

 

I can see why people on a credit board would hate Dave's guts. But he is right when he says that 100% of foreclosures have a mortgage (except I guess, tax liens) and 100% of repos have a car loan attached.

 

Some people love to have $500,000 in available credit, others couldn't care less. One thing I do know for sure: your FICO score has absolutely nothing to do with how successful you are with money. When my wife and I made $35,000 a year out of college and were broke, we had 720 scores. Now, we make 4 times as much and are so much more well off and smart with money. However, our FICO score wouldn't reflect that, because of past mistakes.

 

Good luck, no matter what road you are taking.

 

The just don't make a future mistake by having no LOCs at all. I made that mistake, lost all my history after 10 years, and had to take out secured cards to fix it. Oh, and a main reason was that using debit cards at hotels and car rentals was a PITA. You don't have to have any debt at all to have a good credit score.

Edited by cashnocredit

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

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You know. When I first heard of this dunce, I thought everyone was talking about the chef guy, gordan ramsey. And I silently asked myself, what gives a chef the right to tell anyone what they do with there finances.

 

Unfortunately, You just can't fix stupid. And people in general tend to be extremely gullible to any information distributed to them through TV News, or Radio.

 

My father, closed out, $15k, $10k, $20k credit cards with years and years (some over 15) of clean, always ontime (pif) payment history. Why? Because his mother had heard this "piece" about managing credit from Dave Ramsey.

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

You missed the point.

 

DR is a manipulative liar.

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I want to write a debt reduction plan based on total common sense and make a lot of money in the process.

 

Buy my introductory book, or better yet pay to attend one of my seminars and for a limited time get a deal on the book at the conclusion!!!

 

1. Inventory and categorize your debt and income

2. Eliminate unnecessary expenses

3. Sell unnecessary stuff

4. Pay off your debts / Start an emergency fund

5. Repair / Rebuild your credit

6. Come to more of my expensive seminars/motivational clinics

7. Join my multi-level marketing company and get a piece of the profits from my seminars and books like Amway, and use those profits towards #4. Basically be overbearing to all your friends and family that have financial problems in the process

8. Make sure to visit my website and blog regularly that is full of credit card links that I receive referral income for

9. Make sure to use one of our affiliate links for obtaining a mortgage.

Edited by Konrad2012

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Wonder if Dave knows of the beating he's taking here? And would he care? He is a pompous flowers. I travel (drive) an insane amount and I can't listen to him on the radio. My ears start bleeding within minutes. But, as Rorer pointed out, different people subscribe to different lines of thought. I have to admit that the first time I caught him on the radio years ago, I gave him a listen for about 45 minutes. As Porky Pig says... "That's all folks".

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

You missed the point.

I am told that a lot.

FWF would tell me I missed the point that CB is only for deadbeats.

FT would tell me I missed the point that FWF is only for scammers.

XYZ would tell me I missed the point that FT would sell their own mother for a point/mile.

Maybe it is not me that is missing the point?

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Dave Ramsey is a capitalist, which is his only redeeming quality. His advice on credit would be considered malpractice if he held any professional designations.

 

What I find most disturbing about him is 1) he will pimp any product out there for a buck and 2) his religious twang...associating his approach with the bible and pitching his nonsense to very vulnerable people

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Dave Ramsey is a capitalist, which is his only redeeming quality. His advice on credit would be considered malpractice if he held any professional designations.

 

What I find most disturbing about him is 1) he will pimp any product out there for a buck and 2) his religious twang...associating his approach with the bible and pitching his nonsense to very vulnerable people

He falls in line with the prosperity theology that is running rampant through churches in the US right now. I have a cousin who was a high school teacher/coach for twenty years and fell for this junk from his church, I think he's on his third or fourth get rich scheme pimped by his preacher and has blown through all of his retirement money.

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Dave Ramsey is a capitalist, which is his only redeeming quality. His advice on credit would be considered malpractice if he held any professional designations.

 

What I find most disturbing about him is 1) he will pimp any product out there for a buck and 2) his religious twang...associating his approach with the bible and pitching his nonsense to very vulnerable people

He falls in line with the prosperity theology that is running rampant through churches in the US right now. I have a cousin who was a high school teacher/coach for twenty years and fell for this junk from his church, I think he's on his third or fourth get rich scheme pimped by his preacher and has blown through all of his retirement money.

 

My parents have blown through so much cash on get rich quick schemes... it truly amazes me... because "this one will work" is always their rationalization. And my parents are up there in years... way up there. But my dad just can't seem to get past the addiction...

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

 

You missed the point.

I am told that a lot.

FWF would tell me I missed the point that CB is only for deadbeats.

FT would tell me I missed the point that FWF is only for scammers.

XYZ would tell me I missed the point that FT would sell their own mother for a point/mile.

Maybe it is not me that is missing the point?

You are confused.

 

Maybe you really should get a refund on that lobotomy. And third-grade reading while you are at it. ;)

Edited by PotO

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Dave Ramsey is a capitalist, which is his only redeeming quality. His advice on credit would be considered malpractice if he held any professional designations.

 

What I find most disturbing about him is 1) he will pimp any product out there for a buck and 2) his religious twang...associating his approach with the bible and pitching his nonsense to very vulnerable people

It wouldn't be so bad if he didn't have to blatantly lie to get people to believe him.

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I appreciate the "debt is dumb" stance. It is indeed hard to build personal wealth & financial security if you're always paying interest on everything you buy. I also appreciate the snowball & emergency fund concepts. (Bear in mind what I said earlier about my mother's lack of ability in the financial department. I had NO financial instruction growing up.)

 

But as others have pointed out, some of it is heinously bad. In some areas, buying a place will cost you half the monthly amount & give you twice the space of even the cheapest, crummiest rental.

 

And some folks are positively making out like bandits on cc rewards. But that takes discipline. And a lot of folks don't have it.

 

Predicated by some life changes, I had to make some mindset changes in my own life late last year/early this year that prompted me to start looking at debt, credit & finances differently. Hence I'm here. Working on both the debt & the credit sides of the coin.

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I think he can help people learn to manage money better and help pay down debt (many similar programs out there with same snowball theory). But he costs his follower $$$$. Credit is not just used for loans and CCs but also helps determine how Much you pay for insurance or if you can even get it and other non-"debt" related expenses. I wouldn't mind DR if he taught how to budget get out of debt and then use one or two CCs or loans. PIF monthly, pay more than minimums on loans etc. but he doesn't and that is where he really hurts his followers. He saves them and then starts to make them pay more.

Edited by tiggerlgh

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I have Dave Ramsey's Financial Peace... and from what I read Dave thinks... I can buy a 500,000.00 house (CA average) by saving while paying double the mortgage for rent. :beee:

 

It's easy to talk about using cash, when you charge people 150.00 for a 3.00 book 1.50 worth of CD's and a pencil.

 

Tushar Lakhanpa would be pleased.

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Maybe you really should get a refund on that lobotomy. And third-grade reading while you are at it. ;)

 

I appreciate the childish personal attack.

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Dave Ramsey is a capitalist, which is his only redeeming quality. His advice on credit would be considered malpractice if he held any professional designations.

 

What I find most disturbing about him is 1) he will pimp any product out there for a buck and 2) his religious twang...associating his approach with the bible and pitching his nonsense to very vulnerable people

He falls in line with the prosperity theology that is running rampant through churches in the US right now. I have a cousin who was a high school teacher/coach for twenty years and fell for this junk from his church, I think he's on his third or fourth get rich scheme pimped by his preacher and has blown through all of his retirement money.

 

My parents have blown through so much cash on get rich quick schemes... it truly amazes me... because "this one will work" is always their rationalization. And my parents are up there in years... way up there. But my dad just can't seem to get past the addiction...

 

 

 

I've known several people like that. And they never get any better.

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I have Dave Ramsey's Financial Peace... and from what I read Dave thinks... I can buy a 500,000.00 house (CA average) by saving while paying double the mortgage for rent. :beee:

 

It's easy to talk about using cash, when you charge people 150.00 for a 3.00 book 1.50 worth of CD's and a pencil.

 

Tushar Lakhanpa would be pleased.

 

Who's Tushar Lakhanpa? Never heard of him

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

DR takes advantage of people. He's no different than preachers claiming moral authority and using their authority to rape children.

 

I personally have not seen a bad advice on CB.

 

PIF all cards and let only $2 report on one card. This is the kind of advices we expect here. What's bad about this.

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CB, FWF, FT and DR all have target audiences. Each believes the other gives bad advice in certain areas. That is not going to change.

DR takes advantage of people. He's no different than preachers claiming moral authority and using their authority to rape children.

Wow! Bad advice now equates to child rape?!?

 

I guess I couldn't have been more wrong about DR not being hated here.

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