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re: Why do people not like Dave Ramsey?
Posted on 10/2/24 at 1:07 pm to GnashRebel
Posted on 10/2/24 at 1:07 pm to GnashRebel
quote:You've been a first-time home buyer... twice?
I’ve done it twice
1
Posted on 10/2/24 at 1:07 pm to SlowFlowPro
quote:
Caleb Hammer is a lot better at getting into the details of people whose personal financial train is heading off the tracks.
Love this guy, listen to him in the background when I forecast.
So much better than Ramsey.
Posted on 10/2/24 at 1:07 pm to SlowFlowPro
quote:because statistically, the majority does not pay them off monthly even if that was their intention.
Hell, "don't you use a credit card to pay for it, even if you pay it off every month"
Ramsey is balancing known behavior traits with financial advice.
Maybe it's not for you. But last I read 86% carry over credit card debt monthly.
Posted on 10/2/24 at 1:07 pm to GalvoAg
Glad I heard about this guy now.
Posted on 10/2/24 at 1:09 pm to armtackledawg
quote:
. His advice is not for anyone with financial sense, but for those without it, it is solid.
So 95% of the population based on my experience.
If the average Joe followed the Dave Ramsey plan they would be much better off than whatever they happen to be doing at the moment.
Can you use debt to build wealth? Of course.
Is that what the average person does? No. They enslave themselves with debt.
Ramsey understands more about personal finance than 98% of his critics.
Posted on 10/2/24 at 1:10 pm to Thundercles
quote:
This isn't necessarily true depending on where you live and how you lived before.
If you make a good living with no debt in a small city where you can get a house for 300k, sure.
if you already put yourself in a debt hole - which millions upon millions of people have - and don't make great money and live in a large city where houses cost 500k, it could take literally 20 years to save up 20%.
I'm not saying who is right or wrong, but it certainly can be a challenge.
You missed my point about following the program. If you are living his program and dont have debt, none of those are issues. The foundation of his program is to live a "modest" life with no frivolous spending. If you have no debts and are only buying necessities, you can save incredible amounts of money very quickly. People following the program wont be looking for high-end homes that cannot be afforded on local incomes. The program participants will be looking for modest houses that only have the space/features needed. They'd probably be looking for things like 2 bedroom, 1,000 sq ft house.
Now can people who want to save for a grand house also follow the program to get there faster? Sure. But that isn't what he is talking about doing. His program isnt designed to get his followers the house of their dreams in 5 years or less.
Posted on 10/2/24 at 1:13 pm to 94LSU
quote:
You've been a first-time home buyer... twice?
I bought my first house with 20% down.
5 years later I bought a second house without selling the first. I put 20% down then too. And I wasn’t making a ton of money then.
Posted on 10/2/24 at 1:13 pm to 1putt
quote:
His advice is really wise for the most part. But I’ve always thought he was an arrogant jerk.
This and only this. Most of his advice is sound although sometimes it just isn’t realistic for most ppl at least not when he tells some to sell their reliable fairly new car and buy a $1000 junker. Not taking into account that some have to drive a distance to their job and need something very reliable. He presents good wise principals but the dude talks to his callers like they 5 year old children and like they are garbage then laughs at then. The dude is a total jackass.
Posted on 10/2/24 at 1:14 pm to Tiger985
quote:
If the average Joe followed the Dave Ramsey plan they would be much better off than whatever they happen to be doing at the moment.
I'm just not sure why anyone would need to "follow" Ramsey to learn the basic message that high-interest debt is awful and you should do everything to get rid of it as quickly as possible. That's really the only wisdom he has to offer. Why do you need to listen to that more than once or twice? I suspect his real followers are people who enjoy listening to other people in dire straights so they can feel superior in whatever way.
Posted on 10/2/24 at 1:14 pm to 94LSU
quote:
His no debt whatsoever message is generally false. Debt isn't always a bad thing,
This is where people keep losing perspective. Many Christians believe you can serve the Lord or you can serve something else but you cannot serve both at the same time. Many have the Biblical interpretation that if you have debt, you can only serve money/the person who holds your debt and it prevents you from fully serving the Lord.
His "crazy" takes are based in religion and not finance class. If you see things the same as him, his advice makes a ton of sense.
Posted on 10/2/24 at 1:14 pm to theballguy
His message is perfect for the masses.
Hes wrong about completely refusing to use leverage for a certain percentage of people who are savvy and understand how effectively use it.
Put another way, If you’re someone who needs to seek financial advice. Hes who i would point you to.
If you’re someone who is trying to understand Finance at a bigger level than your own personal finances… i would not point you in his direction.
Hes wrong about completely refusing to use leverage for a certain percentage of people who are savvy and understand how effectively use it.
Put another way, If you’re someone who needs to seek financial advice. Hes who i would point you to.
If you’re someone who is trying to understand Finance at a bigger level than your own personal finances… i would not point you in his direction.
Posted on 10/2/24 at 1:15 pm to SportTiger1
quote:
because statistically, the majority does not pay them off monthly even if that was their intention.
Ramsey is balancing known behavior traits with financial advice.
Maybe it's not for you. But last I read 86% carry over credit card debt monthly.
Here's the thing, he has had disagreements with people who had no debt and use them for things like points and told them that they're doing it wrong. Clearly if people are running a balance this is not optimal, but he has to phrase it in terms of a universal point, which is where his issues come from. This is because he can't tell his audience they're idiots or they'll tune them out and stop buying his products, so he phrases his advice as a universal truth, which is how he gets into trouble giving bad advice for people who have discipline and intelligence
Posted on 10/2/24 at 1:16 pm to notsince98
Most of the lawn and garden shows are there to help people who have a lawn learn better ways to get the most out of it. These people already know the tools and already have them.
Otoh, DR if he was a lawn guy would be helping people figure out how to use a lawnmower or weed whacker and tell them to get off their arse on Saturday morning and cut the grass.
Otoh, DR if he was a lawn guy would be helping people figure out how to use a lawnmower or weed whacker and tell them to get off their arse on Saturday morning and cut the grass.
Posted on 10/2/24 at 1:16 pm to SlowFlowPro
To be fair he doesn’t say nobody can succeed with debt. He is correct that in general it gets people in trouble.
Posted on 10/2/24 at 1:18 pm to theballguy
quote:
Otoh, DR if he was a lawn guy would be helping people figure out how to use a lawnmower or weed whacker and tell them to get off their arse on Saturday morning and cut the grass.
Now you got me wanting my neighbors to take a DR lawncare class.
Posted on 10/2/24 at 1:18 pm to theballguy
quote:
I notice he gets a lot of hate these days and I don't understand it. Maybe I'm missing something that he's done.
His employees are expected to work long hours for low wages. Almost cult like in demanding loyalty.
Posted on 10/2/24 at 1:20 pm to Pvt Hudson
quote:
his aversion to debt isn’t for everyone
That's for sure. Most people are fine to live with debt and very little savings.
Posted on 10/2/24 at 1:20 pm to Enadious
quote:
His employees are expected to work long hours for low wages.
Where do you get this info? Does he underpay his employees?
Posted on 10/2/24 at 1:21 pm to theballguy
I've done quite well using Ramsey's plan.
But move I made was selecting I one of his local SmartVestor Pro's as my financial planner.
I would think many of Dave's listeners or in hardcore debt. I've read and listened to people who are 100's of thousands of dollars in debt....they don't need coddling and sugar coating. They need a drill sergeant!
Just my opinion.
But move I made was selecting I one of his local SmartVestor Pro's as my financial planner.
I would think many of Dave's listeners or in hardcore debt. I've read and listened to people who are 100's of thousands of dollars in debt....they don't need coddling and sugar coating. They need a drill sergeant!
Just my opinion.
Posted on 10/2/24 at 1:23 pm to krewerider
quote:
I've read and listened to people who are 100's of thousands of dollars in debt..
I honestly don't understand how anyone can get themselves in that kind of debt.
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