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Heard Dave Ramsey's daughter speak at a luncheon a few weeks ago
Posted on 4/20/17 at 10:49 am
Posted on 4/20/17 at 10:49 am
She co-wrote a book with her father, Smart Money: Smart Kids in 2014 when she was 26. Obviously she said it was important to be completely debt free, doesn't own a credit card, car loan, mortgage, etc.
“Buying a home is one of the largest purchases you’re ever going to make, so you need to make sure you’re prepared,” says financial expert Rachel Cruze. “Without taking the proper steps, a home can quickly turn from a blessing to a curse.
When it comes to saving for a future home, most people only consider their looming down payment. This is a mistake you don’t want to make. Cruze suggest saving an additional three to six months’ worth of expenses as an emergency fund. “In doing this, you’re building a solid foundation for your finances,” she says.
Good thing she was able to buy a $825,000 house outright at the prime age of 23.
“Buying a home is one of the largest purchases you’re ever going to make, so you need to make sure you’re prepared,” says financial expert Rachel Cruze. “Without taking the proper steps, a home can quickly turn from a blessing to a curse.
When it comes to saving for a future home, most people only consider their looming down payment. This is a mistake you don’t want to make. Cruze suggest saving an additional three to six months’ worth of expenses as an emergency fund. “In doing this, you’re building a solid foundation for your finances,” she says.
Good thing she was able to buy a $825,000 house outright at the prime age of 23.
Posted on 4/20/17 at 10:59 am to Serraneaux
(no message)
This post was edited on 12/21/21 at 11:03 am
Posted on 4/20/17 at 11:13 am to Serraneaux
quote:
Good thing she was able to buy a $825,000 house outright at the prime age of 23.
exactly! so easy to do. so practical even for a 35 or 45 year old to pay cash for that. much less a 23 year old!
look, being debt free is great but there is nothing wrong with using leverage to your advantage and making smart decisions. something tells me the ramsey audience does not know how to do this and he preaches to the financially ignorant maybe?
Posted on 4/20/17 at 11:39 am to Serraneaux
quote:
Good thing she was able to buy a $825,000 house outright at the prime age of 23.
How does this have anything to do with the validity of her advice? I personally make it a rule not to get my financial guidance from people that don't have any money.
Posted on 4/20/17 at 12:38 pm to Serraneaux
The only problem with our economy is government meddling.
I was able to work full time and pay for all my college in 4 years in the 1980's. I graduated college with no debt.
I took out loans for medical school but worked overtime in residency (moonlighting) to pay off med school loans.
I was debt free at 30. With all my degrees. I was only able to do this because college was affordable. Tuition at Auburn was less than $1500 a year and I had a job making over $7.00 an hour.
All the FREE government money has ruined that option for kids these days. The only help you get from the government is destined to hold you down.
I was able to work full time and pay for all my college in 4 years in the 1980's. I graduated college with no debt.
I took out loans for medical school but worked overtime in residency (moonlighting) to pay off med school loans.
I was debt free at 30. With all my degrees. I was only able to do this because college was affordable. Tuition at Auburn was less than $1500 a year and I had a job making over $7.00 an hour.
All the FREE government money has ruined that option for kids these days. The only help you get from the government is destined to hold you down.
Posted on 4/20/17 at 1:19 pm to Serraneaux
I need to tell my "I interviewed with Dave Ramsey" story on here.
Posted on 4/20/17 at 8:41 pm to Serraneaux
quote:
Obviously she said it was important to be completely debt free, doesn't own a credit card, car loan, mortgage, etc
Living one's life supersedes upholding ridiculous financial ideals.
For example, if I had waited until I could pay cash for my boat instead of financing it, that's 5 years of fishing I would have missed out on. You only get one shot at life, and I've known far too many who have had their life snatched away in an instant when they were far too young.
Sure, don't completely submerge yourself in debt you can never recover from, but in the end you can't take it with you. Spend your money and live your life.
Posted on 4/20/17 at 10:34 pm to Serraneaux
I'd hit it harder than a 30 year ARM.
Posted on 4/21/17 at 11:56 am to Serraneaux
She brings to mind the phrase, "Born on third base but thinks she hit a triple"
Posted on 4/21/17 at 2:13 pm to Serraneaux
quote:This is stupid for most people. Debit card is less secure. Cash is a pain in the arse. She probably lives where full service gas station is mandatory. Discover Card cash back adds up nicely if you pay off credit card monthly.
doesn't own a credit card
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