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Started By
Message
re: Dave Ramsey?
Posted on 2/18/09 at 3:38 pm to BlackHelicopterPilot
Posted on 2/18/09 at 3:38 pm to BlackHelicopterPilot
I'm taking issue with your term "churchy", not that Ramsey doesn't obviously teach from a Christian point of view.
The term "churchy" implies lots of other applications. He's a christian.
The term "churchy" implies lots of other applications. He's a christian.
1
Posted on 2/18/09 at 6:22 pm to Tiger Ryno
He over states the performance of mutual funds and relys to much on mutual fund brokers(probably because they pay a fee to be an endorsed local provider), but other than that he is pretty spot on.
I wish more people got on his plan.
I wish more people got on his plan.
Posted on 2/18/09 at 6:25 pm to jmtigerfan
quote:
you never know when you might need them
Sure you do, never. Why would you "need" a credit card?
Posted on 2/18/09 at 6:42 pm to dawgorama
quote:Out of town emergency?
Why would you "need" a credit card?
Posted on 2/18/09 at 6:52 pm to dawgorama
quote:
Why would you "need" a credit card?
hotels? online purchases?
This post was edited on 2/18/09 at 6:53 pm
Posted on 2/18/09 at 6:57 pm to dawgorama
quote:
Why would you "need" a credit card?
They are much more functional for renting a car than a debit card and cash simply does not work for that.
Posted on 2/18/09 at 7:18 pm to Tigris
quote:
Out of town emergency?
hotels? online purchases?
They are much more functional for renting a car than a debit card and cash simply does not work for that.
What? You can use a debit/check card for this. My "emergency" fund/Money Market is linked to one (offered by a bunch of banks).
And to preempt the "it doesn't carry same protections" posts:
Visa
Posted on 2/18/09 at 7:24 pm to dawgorama
quote:
You can use a debit/check card for this
Most hotels will put a hold on the amount you are reserving the room for from when you book it until you check out if you use a debit card.
No way in hell I could book all my rooms for LSU away games and other travels as far in advance as I do and have that much room on my debit card for normal purchases.
Posted on 2/18/09 at 7:30 pm to Golfer
quote:
Most hotels will put a hold on the amount you are reserving the room for from when you book it until you check out if you use a debit card
How will they know it's a debit card, iyo? When asked what I'm using I say, "Visa". It's run as a credit card. It's linked to my "emergency funds" which are substantially larger than most peoples credit limits (6 months salary right now). I just don't see how a person, who has followed Ramsey's plan, would need a credit card. And that's the context of this thread. If you don't have that substantial of an emergency account, then vacations should be off the books anyway (until you do).
Posted on 2/18/09 at 7:33 pm to dawgorama
You can have a credit card for emergencies. The emergency fund comes into play when you pay off the balance of the card. Pay that bitch off ASAP.
Posted on 2/18/09 at 7:38 pm to Slinger16
quote:
You can have a credit card for emergencies. The emergency fund comes into play when you pay off the balance of the card. Pay that bitch off ASAP
If I didn't have ANY emergency fund, then yeah..I'd probably keep a card with some credit on it around until I could get a few grand saved up. I wouldn't even try to pay down the credit card until then. My problem with dave's plan was the "baby emergency fund". 1,000 dollars wasn't near enough to give me any comfort.
Posted on 2/18/09 at 9:08 pm to dawgorama
$1,000 is a reasonable amouunt when you start the pogram. Your main objective at that point is to pay down as much debt as you can, not to save.
For a lot of people $1,000 is far better than what they currently have, which is usually nothing.
For a lot of people $1,000 is far better than what they currently have, which is usually nothing.
Posted on 2/18/09 at 9:11 pm to Slinger16
quote:
For a lot of people $1,000 is far better than what they currently have, which is usually nothing.
I have a relative that just did his taxes and owes Uncle Sam $400. He's shitting bricks because he has no idea how to come up with $400 by April 15.
Yes he works full time at a non-minimum wage job.
Posted on 2/18/09 at 9:14 pm to Cash
quote:
Yes he works full time at a non-minimum wage job.
He has 2 months to come up with $400 and he may not make it?
I think he may be a tad overextended financially.
Posted on 2/18/09 at 9:16 pm to Slinger16
quote:
I think he may be a tad overextended financially
Ya think so?Posted on 2/18/09 at 9:33 pm to jmtigerfan
I have a talent for understatement. 
Posted on 2/18/09 at 9:41 pm to Slinger16
quote:
He has 2 months to come up with $400 and he may not make it?
I think he may be a tad overextended financially.
Nah, he's just an idiot and has zero discipline.
Posted on 2/18/09 at 9:42 pm to Cash
Yup, that'll do it, too.
Posted on 2/18/09 at 10:35 pm to jmtigerfan
quote:
Out of town emergency
Debit cards can do the same. Cash can do the same.
Having an emergency fund can do the same.
Posted on 2/18/09 at 10:38 pm to SlowFlowPro
quote:
hotels? online purchases?
I make hotel reservations, online purchases and book car rentals all with my debit card.
I have never had a problem using my debit card.
I did away with credit cards about three years ago.
My wife still has a Discover Card, but we don't use it, at all. It's just open. As a matter of fact, I should probably cancel it.
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