Dave Ramsey's got solid advice. It's really simple: save more, spend less, work hard, and make do with enough rather than splurging on the extravagant.
Unfortunately, in today's "I want everything and I want it now" world, common-sense finances like that don't get taught (or listened to) by enough people.
It's a big part of what got us in to our current economic mess.
I listen to him too. Am applying his principles to our financial situation now. A lot of his stuff is really...REALLY simple, but as was said before, this stuff isn't being taught to people these days.
I think his course should be required in high school in order to graduate.
He is a religious man, and some of that bleeds through in his podcasts. But it isn't overly obnoxious.
I wish I would have been required to go through his class in order to graduate high school. Would have made a big difference in my life.
Part of why the principals that Ramsey teaches aren't that poplar (and he isn't the first to teach them--not by thousands of years) is that while they are simple and dead-on true, they aren't *easy*. Hard work is, well, hard. Not buying something *now* when you want it *now* requires self-control--even more so now that we have credit cards where you can just make a minimum monthly payment of $50 and in exchange, you've got that new set of custom rims.
Problem is, you're now saddled with debt that you will struggle for years to pay off, and oh, by the way, you're going to pay quadruple the up-front cost of those rims over the lifespan of your debt. But who cares, right? You want those rims *now*!!
I'm a big fan of his, and we are applying his priciples, also. He teaches the same thing my grandparents tried to teach me 20 years ago, and I wish I would have listened then. I'm teaching this to my kids now while they're young, so hopefully they won't do what we did. If more people would live debt free our economy would be in great shape, and it would send a message to credit card companies that we've had enough.
Originally Posted by Hoss2500
I can't wait to buy our next car, and walk in and pay cash for it.
A lot of Dave Ramsey's message is about planning ahead and essentially delayed gratification. Not many fans on this. Even less who practice it. Congress never heard of it. On the other hand, my wife and I have. Our house is paid for, we pay off our credit card bills every month, we paid cash for our 2002 Silverado last year and our 2008 Polaris RZR last month. We've both worked average paying jobs, we just didn't need all the toys along the way. I have had two new cars in the last 15 years and have driven them a total of 500,000 miles.
I am in no way criticizing those who disagree. It's a free country at least until we vote politicians into office who pander to the folks who think they are entitled to what other people work for.
Thought about deleting this but it is pretty much true and how a lot of people feel.
Bottom line, if you follow Dave's advice, you will be better off financially in the long run, not that there's anything wrong with that.
Let's get this old threads started again in light of the topics related to making truck payments.
My dad taught me a lot about finances and working hard and not spending too much. He retired at 52 so I took his teachings to heart.
I was wondering the same thing.
Originally Posted by Cableguy
That answered my question. It also told me I don't need to bother with Dave Ramsey since I already learned and practice this approach. (For examples: my truck was paid for in cash, I have no credit card debt, etc...)
Originally Posted by 83Jim
I personally have only heard about him from co-workers of mine. As someone with a business degree I am very aware of all the companies that want to take my hard earned money. They all want to entice and tell you that you need new things and the best of everything. As a minamalist and pretty simple person overall its just not true. I dont need a rolex when I could use that cash to pay off more of my house or put it away for my kids...or heck just save it for emergencies. I dont need a big house or too much stuff....its just more to maintence and replace...and more stress to pay on....
The problem with listening to Dave Ramsey is that there are only maybe five types of phone calls that he takes. The names change, but it's all the same stuff so after you listen to his show for any decent stretch of time ... you've heard it all.
DAVE RAMSEY FREQUENTLY ASKED QUESTIONS & COMMENTS:
- I'm deep in debt and need help, should I file for bankruptcy?
- How do I plan for the future?
- Should I go into long term debt for X, Y or Z?
- Should I go into short term debt for X, Y or Z?
- I'm DEBT FREEEE!!!!!
So, while I may or may-not agree with the content, eventually you've heard the message and in just listening for 6 months you've heard 90% of everything that you're going to hear.