- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Dave Ramsey's Financial Peace
Posted on 2/10/13 at 2:15 pm
Posted on 2/10/13 at 2:15 pm
Anyone done it? I'm thinking of starting it soon. Opinions? Did it help you?
Posted on 2/10/13 at 2:22 pm to King of New Orleans
Dave Ramsey is typically a lightning rod for debate around here so I'll just try and give you the general consensus...
If you are in the financial industry you will find a lot of what he says painfully simplistic and way too conservative.
That being said, he is good at creating a simple financial plan that will put anyone on solid ground. It is a great starting point for anyone looking to take better control of their personal finances IMO.
Is it the most aggressive approach? Hell no
Is it helpful to 95% of Americans? Probably
If you are in the financial industry you will find a lot of what he says painfully simplistic and way too conservative.
That being said, he is good at creating a simple financial plan that will put anyone on solid ground. It is a great starting point for anyone looking to take better control of their personal finances IMO.
Is it the most aggressive approach? Hell no
Is it helpful to 95% of Americans? Probably
Posted on 2/10/13 at 2:42 pm to jso0003
I think a lot of people in the financial industry have it wrong with their approach personally
And history proves this out time and time again
And history proves this out time and time again
Posted on 2/10/13 at 3:02 pm to Powerman
quote:
I think a lot of people in the financial industry have it wrong with their approach personally And history proves this out time and time again
Well I am in the industry but I'm not necessarily gonna argue with you
Posted on 2/10/13 at 3:05 pm to jso0003
I have not done the Financial Peace University Classes, but I have read his book Financial Peace.
Like jso said, basic advice for people bad with money but he spells it out and his ways are good at keping people motivated.
Like jso said, basic advice for people bad with money but he spells it out and his ways are good at keping people motivated.
Posted on 2/10/13 at 4:20 pm to Powerman
quote:
I think a lot of people in the financial industry have it wrong with their approach personally And history proves this out time and time again
Care to expound?
Posted on 2/10/13 at 4:24 pm to King of New Orleans
quote:
Anyone done it? I'm thinking of starting it soon. Opinions? Did it help you?
Yes. About 7 years ago. Changed our situation completely. And for the better.
Most of what he talks about is common sense, but most people don't practice common sense when it comes to their finances.
Posted on 2/10/13 at 4:46 pm to Powerman
quote:
I think a lot of people in the financial industry have it wrong with their approach personally
I'd like to hear your explanation of this as well. There are millions of people that work in the financial industry, and just like any other field, there are always bad apples.
Posted on 2/10/13 at 5:14 pm to Powerman
Dave's plans are designed for someone who has financial problems but can't figure out why.
He makes a good task master with simple proven ways to stop the bleeding and get on the right track.
It is all about reconizing the problem and getting outside discipline help to right the ship.
He makes a good task master with simple proven ways to stop the bleeding and get on the right track.
It is all about reconizing the problem and getting outside discipline help to right the ship.
Posted on 2/10/13 at 6:46 pm to King of New Orleans
OP, search button is your friend. There's a million threads about the goober and his methods already.
This post was edited on 2/10/13 at 6:49 pm
Posted on 2/10/13 at 7:42 pm to King of New Orleans
don't spend a dime on it. you can just google the plan. pretty simple, i can tell you how to do it off the top of my head.
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
Posted on 2/10/13 at 8:13 pm to Springlake Tiger
quote:
Don't use a credit card, ever.
List all of your debts on a sheet of paper and rank them from smallest to largest.
Do a monthly budget (income less expenses).
Take excess of income less expenses and apply to smallest debt.
Once smallest debt is paid off, go to the next, and so on until all of your debt is gone.
Only buy a home if you can put 20% down and finance over 15 years.
Make sure you have an emergency fund of at least 6 months of expenses.
Always contribute to a company matched 401k up to the point at which they match, don't pass up free money.
Before you do any of the above, save $1000 for any unexpected expenses (car repair, new fridge). If you have to use any of it, stop the debt payoff and replenish your thousand.
Posted on 2/10/13 at 8:28 pm to King of New Orleans
Depending on your situation I wpukd suggest it.
For me it highlighted a few points but nothing groundbreaking. However, it did wonders for the wife and now we are on the same page. Highly recommended and worth the 100 bucks
For me it highlighted a few points but nothing groundbreaking. However, it did wonders for the wife and now we are on the same page. Highly recommended and worth the 100 bucks
Posted on 2/10/13 at 8:34 pm to jso0003
quote:
If you are in the financial industry you will find a lot of what he says painfully simplistic and way too conservative.
That being said, he is good at creating a simple financial plan that will put anyone on solid ground. It is a great starting point for anyone looking to take better control of their personal finances IMO.
That sums things up pretty well IMO. Ramsey isn't selling BS, he is selling a very simple formula for people who have no clue what to do.
Can you do better? Absolutely. It is very simplistic and is basically like teaching someone how to hit basketball layups. But a lot of people need to master the basics and there's no shame in that.
Posted on 2/10/13 at 8:57 pm to ATL TGR
quote:
For me it highlighted a few points but nothing groundbreaking. However, it did wonders for the wife and now we are on the same page. Highly recommended and worth the 100 bucks
That's my situation. For me, it won't be any earth shattering revelation. For her though, it will be great.
Posted on 2/10/13 at 9:55 pm to King of New Orleans
quote:
For me, it won't be any earth shattering revelation. For her though, it will be great.
Would absolutely recommend then
Posted on 2/11/13 at 5:30 am to Springlake Tiger
(no message)
This post was edited on 1/10/21 at 7:55 am
Posted on 2/11/13 at 5:58 am to Kraut Dawg
Correct, except for house.
Posted on 2/11/13 at 7:04 am to Will Cover
Well that's a little ridiculous. You should absolutely be contributing up to any employer match in a 401k.
Posted on 2/11/13 at 7:42 am to jso0003
quote:
Well that's a little ridiculous. You should absolutely be contributing up to any employer match in a 401k.
free money
Popular
Back to top
Follow TigerDroppings for LSU Football News