Dave Ramsey fans read this

[Radar]

Communist.

Agreed.

Although he is a young guy and his attitude will change over time.

[captainsling]

I am not a follower of Dave because I don't feel I should take advise from someone that has claimed bankruptcy twice. That being said, my wife and I started using some of his methods we did agree with, and it has allowed us to be more financially secure.
We use to fight like cats and dogs about money. We learned to save, and pay cash for everything except regular bills. Now we have a healthy emergency fund, and we buy what we want, when we want within reason. Without taking on additional debt.
It does make a happier marriage!!!!!!

[Capt.Brown]

dave has helped millions of people get out of debt and save there marriage because of his teachings, I think if you really listened to his story it makes sense why he is so conservative with money. If your comfortable with a huge debt load then to each there own but he's warning you.

[Abctx]

Dave has some great things to say, but I sometimes cringe at his constant push to "pay off the mortgage". Yes, it's good to own your home, but for many folks, rushing to pay off a debt that may only be at 2.5-3% interest (1/3 of which you may get back on taxes, so really 1.5-2% or so), rather than ploughing that money into retirement, which might return 8-12%, is silly.

What is NOT silly is avoiding six figure school loans to train for jobs making $50k a year, and avoiding the urge to buy a $60k F250 Powerstroke every 4-5 years to tow your $20k Ranger or $50k fifth-wheel.

[KYBourbon]

Americans are consumers. This article says people with more stuff are happier than people with less stuff. That’s not breaking news.

No doubt Ramsey had helps tons of people, and some of his advice had merit, but as others have said it’s not a blanket plan for everyone.

I read Total Money Makeover and finished disappointed. I was looking for some kind of life changing secret. It mostly seemed like common sense. Don’t spend more than you make, and don’t finance depreciating assets.

[tex8569]

Agreed

Dave has some great things to say, but I sometimes cringe at his constant push to "pay off the mortgage". Yes, it's good to own your home, but for many folks, rushing to pay off a debt that may only be at 2.5-3% interest (1/3 of which you may get back on taxes, so really 1.5-2% or so), rather than ploughing that money into retirement, which might return 8-12%, is silly.

What is NOT silly is avoiding six figure school loans to train for jobs making $50k a year, and avoiding the urge to buy a $60k F250 Powerstroke every 4-5 years to tow your $20k Ranger or $50k fifth-wheel.

[SL1]

There is good debt and bad debt, no doubt. However when accessing the good debt never forget to weigh the risks(often overlooked). Oh and a good financial adviser that understands the risks and rewards the market has to offer is nice too. Pigs get fat...hogs get slaughtered.

[Bort]

Dave Ramsey has some good financial advice that has helped a lot of people get out of debt, live within their means, and as a result, he has even saved some lives and marriages. Basically, he simplifies finance with a proven method. I applaud him for that and I'm really happy for the people he has helped.

However, his financial advice is not the only sound advice out there. Different financial strategies work for different people with different tolerances for risk, financial knowledge, income, and age. There are ways to safely use leverage, take advantage of credit cards, and invest "other people's money" to your advantage.

I'm not so sure why so many people act like his advice is the only advice out there or why some judge others for taking Dave's advice. To each there own. Happy finances.

[TKK]

dave has helped millions of people get out of debt and save there marriage because of his teachings, I think if you really listened to his story it makes sense why he is so conservative with money. If your comfortable with a huge debt load then to each there own but he's warning you.

I have listened to him a lot. Never said his no debt approach was bad - just said that not all debt is bad and that everyone's situation is totally different. Truthfully what he is promoting is just common sense stuff -

no matter how you feel about Dave if you are anywhere near retirement the article I posted a few post back is worth the read IMO

[gingib]

Very interesting. I was on the Dave band wagon and it got me and my wife debt free with a paid off house and 2 vehicles paid for. Right now we still save but live our lives like we want to and I would say we are comfortable. We make right at 100k and go on vacations and at least one nice hunt a year.( not including the family farm). Life’s not about how much money you make, it’s about what you do with the money you do make and living within your means. Once you get a good grasp on your money you need to LIVE, as tomorrow is not promised.

Thank you for posting

I can gauruntee you if you follow Dave Ramsey's advice you will be happy and wealthy eventually.

2 smart men!

IT WORKS! We don't follow it exactly but do most of it. As that is how Dad/Mom raised me, to save money

[oldtestamentman]

With people living longer and allot working happily into their 70's, I think the investment strategy for retirement is over rated. Just live within your means and enjoy yourself. Stay away from Credit card debt, but I think that over saving and sacrificing too much is a bad thing. In other words, find out what you love to do early in life and work until your 70s. Spend some money and have fun, or you will regret it once you get too old to enjoy the good things in life...

[Dusty Britches]

I would say being in debt is one of the greatest sources of unhappiness and depression.

Once debt free, live up to your means, but not beyond. Do not horde money, either.

[JeffJ]

Dave has some great things to say, but I sometimes cringe at his constant push to "pay off the mortgage". Yes, it's good to own your home, but for many folks, rushing to pay off a debt that may only be at 2.5-3% interest (1/3 of which you may get back on taxes, so really 1.5-2% or so), rather than ploughing that money into retirement, which might return 8-12%, is silly.

What is NOT silly is avoiding six figure school loans to train for jobs making $50k a year, and avoiding the urge to buy a $60k F250 Powerstroke every 4-5 years to tow your $20k Ranger or $50k fifth-wheel.

Yea, folks who followed this advice and plowed money in to their home loan shouldn't do the math to see what they gave up by not investing the money wisely...

[tps7742]

Live below your means, pay yourself first, start saving as early in your life as possible, get a financial adviser you trust, enjoy life and be patient.

[stoic]

I read Total Money Makeover and finished disappointed. I was looking for some kind of life changing secret. It mostly seemed like common sense. Don’t spend more than you make, and don’t finance depreciating assets.

I think this is the basic premise of everything he teaches & something that he says about 15 times a day in his show.

His plan isn't really much of a secret, it is common sense.

Too many people think there is some secret or special trick that is going to help them succeed. It is all about risk, Dave Ramsey is very risk adverse. If you are not, you might do very well, or you might have a very big loss.

The good thing is that it's your life and you can choose whatever method you want.