Dave Ramsey

#51
#51
I'm in the process of 'converting' my wife. I was debt free by 27, but she came into our marriage with a huge chunk of student loans (but thankfully no car loans, credit cards, etc).

She's had trouble learning the difference between want and need, but she's coming around.

After joining our finances and me taking the lead (at her request), I'm on the warpath with Sallie Mae, Fedloan, and AES.

She finally joined the fight 100% when I had her start dealing with them over the phone. Actually speaking to those people and hearing their attitudes changed her view of her debt greatly.

Once I showed her how much money she had been handing those slimeballs (and how much she would have handed over if she followed their 'plan'), she jumped in big time.

We celebrate each time we kill another one of her student loans.
 
#52
#52
so I'm guessing your wife wasn't a finance major :)

(ftr my wife was an art major so know the pain in dealing with numbers)
 
#53
#53
utvolpj said:
so I'm guessing your wife wasn't a finance major :)

(ftr my wife was an art major so know the pain in dealing with numbers)
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Nope, but close.... psych.

Even better, she was one of those that completed the first degree only to decide that her heart wasn't in that. Add to that a couple of years of Out of State tuition so she could 'have the experience'...and, well, I'd say she sent a Sallie Mae staffer on a lovely week in St. Thomas.

All while having her own apartment, newer car, etc. So probably 2 weeks in St. Thomas.

The princess mentality of a lot of women under 35 is a dangerous, dangerous thing for my generation. We had some rocky weeks when we first got married when she realized the days of a $300 trip to the mall or turkey creek were over, and that working overtime was now considered a GOOD thing.

Thankfully she understands where she (and her parents) screwed the pooch. She wants them gone as much, if not more, than I do. And she's a hard worker now so its hard for me to be really angry about the situation. Compared to some other folks my age, we're in a pretty good spot.

Scares me how many people I know who gleefully pay the minimums and pretty much accept that as a part of their life.
 
#54
#54
Elizabeth Warren is a kook but she has some good thought on personal finance.

50/30/20

50% needs...rent, utilities, medicine etc
30%wants...vacation, cable, eating out
20% savings..,rainy day and retirement

All off of net earnings.
 
#57
#57
Jax_Vol said:
I wish someone would pay me a zillion a year to tell people to cut up their credit cards. His stuff is just so much common frickin' sense.


But then again...a lot of people...bad at math I guess
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If people used common sense in their finances there wouldn't be a need for someone like DR.
 
#62
#62
VolsNSkinsFan said:
Spies, Cash, and Fear: Inside Christian Money Guru Dave Ramsey
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He may be a jacka$$ but that article is horrible. Plenty of religious mockery for the sake of mockery and quotes like this

“Most of us left Lampo years ago and yet he still haunts us, lurking over our shoulders like he’s the damn Godfather. And many of us are scared of him, unsure of how far he’d go to silence us.”
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If someone who left the company years ago professes to be be scared of him I'd say that source has problems bigger than Dave Ramsay.
 
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#63
#63
volinbham said:
He may be a jacka$$ but that article is horrible. Plenty of religious mockery for the sake of mockery and quotes like this



If someone who left the company years ago professes to be be scared of him I'd say that source has problems bigger than Dave Ramsay.
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They're scared of him...so they keep talking about him?
 
#65
#65
I knew a girl who went to work for him for a few years. From what I heard she became his personal assistant for a while. Next time I see her brother I'll ask him why she quit.
 
#67
#67
burntorangeVOLffle said:
I knew a girl who went to work for him for a few years. From what I heard she became his personal assistant for a while. Next time I see her brother I'll ask him why she quit.
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I can see him being a demanding boss. I could also see him not paying much. Just a guess

I posted the article to see what people thought because there is lots of buzz about it on twitter. I didn't realize he had 400 employees.
 
#68
#68
The one thing I'm always surprised by is the way his former employees seem to act like certain things were unexpected when they took the job.

My brother interviewed for a media production position out there and they were very upfront about some of the stuff that's expected of you (dealing with your financials, gossip, etc). He didn't take the job because Nashville wasn't a good option at the time, but he was suprised by how open about their differences they were.
 
#70
#70
The only thing I really take issue with, if true, is the massive sums of cash he may have offered in exchange for people snitching on their co-workers. He's obviously free to run his company how he sees fit with the financial background checks and all, but preaching fiscal responsibility out one side of his mouth while offering bounties in the tens of thousands in order to smoke out his critics on Twitter out the other side makes him look like a fraud. Again, this opinion is all based on these claims having at least some basis in the truth.
 
#72
#72
Spartacavolus said:
I heard him tell a lady that if she needed a car and had little money that she should find a $750 car.
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Good in theory. Bad once you realize why they priced the car so low and you're spending money every month to keep it running.

Stick to the debt snowball thingy and budgeting. Stop pretending to be an expert on everything else.
 
#73
#73
Spartacavolus said:
I heard him tell a lady that if she needed a car and had little money that she should find a $750 car.
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Heard him talking about employee travel expenses. Caller asked how to do it without using a credit card and his suggestion was tell the employer to give them a cash advance. Nice idea........until the employer says no. What then, Dave? Have them use their debit card and have the hotel pull out up to $400 to put on hold until they check out potentially bouncing checks or at the minimum not keeping the family from $400 of household expenses? What if one of your employees came to you and wanted to change your business process just because it didn't work for personal reasons.

I understand he has to stick to his guns but each situation is different and his theory wont work in every situation.
 
#74
#74
Yep. And telling people to use debit cards for large purchases rather than a credit card is just stupid advice.
 
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