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Message
re: Dave Ramsey sued for $150 million over endorsing deceptive timeshare-exit company
Posted on 6/3/23 at 11:37 am to GeauxTigers123
Posted on 6/3/23 at 11:37 am to GeauxTigers123
quote:
GeauxTigers123
Dave Ramsey Cult member.
0
Posted on 6/3/23 at 11:37 am to Jacherse
quote:
You guys listen to radio for financial advice?
That guy.
Here is your attention.
Don’t spend it all in one place.
Posted on 6/3/23 at 11:42 am to La Place Mike
quote:
People who follow him get irate when you say anything negative about the guy.
Ramsey followers are zealots. Zealots get mad about grey areas. For example, Ramsey says only get a 15 year fixed rate mortgage that you can pay off as fast as possible. Ok, that's not bad advice, but there are people in circumstances where a 30 year fixed rate mortgage or an ARM might be better for them. But nope 15 year fixed rate mortgage is the only way to go for the zealots and if you say anything else you're wrong. Again, it's about thinking critically for yourself.
Posted on 6/3/23 at 11:43 am to Fear TheSpear
Dave Ramsey is a classic Tennessee fan
Posted on 6/3/23 at 11:45 am to Grinder
I am a CFP and have a master's in finance...I can that, unequically, he is the worst person in personal finance...
Posted on 6/3/23 at 11:48 am to jrobic4
Seems like a typical Ramsey target listener…. Dumb enough to buy into a time share to start with, then duped into paying $40k to a scam company to get out of it. LOL
Posted on 6/3/23 at 12:03 pm to GeauxTigers123
quote:
I also think a lot of people are jealous at his financial success. Dude is loaded.
And you’re an excuse making, money worshiper if you think calling out someone scummy behavior is hating.
Posted on 6/3/23 at 12:42 pm to Fear TheSpear
His snowball plan is legit.
It’s a tad too punitive though. His religious side creeps in and it becomes a price you pay for your past transgressions with money.
Hope his emergency fund is in top shape.
It’s a tad too punitive though. His religious side creeps in and it becomes a price you pay for your past transgressions with money.
Hope his emergency fund is in top shape.
Posted on 6/3/23 at 12:43 pm to Fear TheSpear
quote:If you send $40k toa stranger over the phone, upfront, how is it someone else’s fault?
They contacted the Bellevue, Washington-based company off Ramsey's endorsement and were told it'd cost them $40,000 for their services. They paid it.
We live in a post-responsibility era. Nono e is responsible for their own actions anymore.
Posted on 6/3/23 at 12:53 pm to Fear TheSpear
quote:
They bought points from a timeshare company
quote:
Roseanne Morrill, a frequent listener of Christian financial advisor Dave Ramsey's radio show
quote:
it'd cost them $40,000 for their services. They paid it.
Three strikes. These people don't deserve to have money
Posted on 6/3/23 at 1:01 pm to LSU alum wannabe
quote:
His snowball plan is legit.
I think all of his base ideas are really good for the vast majority of the population.
1. build a short term emergency fund.
2. pay off smallest debts and add that payment to the next and snowball out of your credit cards.
3. build a 3-6 month backup fund
You can't argue with the basics here. I start to diverge on his hate for credit cards. I know that the vast majority are fricking idiots who can't contain themselves so this advice is strong for the vast majority. .The truth is, with self control, credit cards are your absolute best friend. It puts a layer of protection between you and the seller, it allows you to customize reward plans based on you purchases and you aren't out of pocket if any fraud happens.
all of this said, I don't think this suit is his fault. He is paid to advertise something. The issue is that he needs trust from his listeners to be effective and this will hurt his image. Will anyone who regrets a decision based on an advertisement be able to start suing the channel the commercial was on? No, and that should be no different here.
Posted on 6/3/23 at 1:02 pm to Fear TheSpear
At first I thought it said "Kige Ramsey sued for $150 million...
Posted on 6/3/23 at 1:03 pm to OweO
That is because you are an idiot.
Posted on 6/3/23 at 1:05 pm to TDTOM
Oh really? You really think that's what I really thought? Or do you think there is a slight chance I was just being dumb?
Posted on 6/3/23 at 1:09 pm to TDTOM
STFU. Stop taking life so serious.
Posted on 6/3/23 at 1:10 pm to Fear TheSpear
In my life, every person who is famous and talks about how to make or manage money and debt is not to be trusted 100%. The people who gave the company Ramsey shills for have a right to be pissed, but how much did they look into that company before they gave up the $40K?
Posted on 6/3/23 at 1:19 pm to Grinder
quote:
Dave Ramsay’s a slimy dude. Not to be trusted. He’s in the category of TV preacher.
Only advice I would follow from him is to get out of credit card and car payment debt as fast as you can with interest rates increasing. Also the emergency fund is also legit.
One caveat of using his debt snowball method is to pay attention to the various interest rates you are being charged. His plan is to pay the smallest balances to highest. If you have a small balance on a card that has 15% rate, but a larger balance on a card with a 30% rate, by all means work more on getting the 30% card paid off faster than the 15%.
The rest of some of his slimy products seemed to reek of snake oil like his ELP of insurance and mortgage companies.
This post was edited on 6/3/23 at 1:23 pm
Posted on 6/3/23 at 1:20 pm to Fear TheSpear
You get what you pay for with free advice.
Posted on 6/3/23 at 1:24 pm to Tarps99
once you pay off all high interest debt and set up a 3-6 month emergency fund, I’d take his advice to wealth building with an extreme grain of salt. I’m not saying it wouldn’t work, but putting all excess money into your low interest mortgage instead of the market is suboptimal advice historically.
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