Dave Ramsey

#127
#127
Obsessed said:
Good for you, American Express would call to verify mine sometimes.

OT but what's your line if work?
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I'm a dabbler. Medical business mainly and trying to diversify in a new office concept called ESpaces as well in a friend's payday loan business.
I can't work for anybody and when I have to again one day I will move to Saewontineo
 
#128
#128
When I have a big purchase I usually get those 12 month no interest cc/line of credit deals. Just paid off my new washer/dryer from Sears. Done a lot of furniture this way. You just have to be sure to pay it off before interest hits.


Washer broke and dryer was old so I walked into Sears Outlet at 6pm on a Sunday and they gave me $8k in credit.
 
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#129
#129
Surprised that no one's mentioned the charge to retailers. You get 1% back...good for you. In the mean time you're driving up prices 2-3%. Credit card companies are enormously profitable, and this is why. What's the saying?..."Go through any major city in the US and find the 5-10 largest buildings...chances are, they have the name of a bank on the side of them."

I sell capital equipment for a living. I hear from doctors all the time wanting to use their credit cards for $40,000+ purchases. Our AMEX fee as a retailer on $40K is $1,200. Sure, it's the "cost of doing business"...hey, we're just passing it on to the doctors, and they're, in turn, passing it on to Obama's secret stash. Glad the stash just materializes out of thin air.

Wonder what the credit card fees are like for grocery stores, and gas stations, and clothing stores, etc.
 
#130
#130
GAVol said:
While we're at it, I think Dave is also wrong about stopping retirement savings while paying off debt and insurance in general.
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I like him as a person, but his investing advice is subpar overall.

I listened to him daily when I was a kid cutting grass in the summers. My wife and I were able to pay off college and build a down payment i a little over a year.

I also don't like his advice for a house to be no more than 1/4 of your take home pay on a 15 year mortgage. That may work for single people inNorth Dakota but if you have three or 4 kids in a normal market it is hard to find a decent house with those rules. My wife and I make good money especially for our age, but on a 15 year mortgage we would be just outside his suggestion
 
#131
#131
govols09 said:
I like him as a person, but his investing advice is subpar overall.

I listened to him daily when I was a kid cutting grass in the summers. My wife and I were able to pay off college and build a down payment i a little over a year.

I also don't like his advice for a house to be no more than 1/4 of your take home pay on a 15 year mortgage. That may work for single people inNorth Dakota but if you have three or 4 kids in a normal market it is hard to find a decent house with those rules. My wife and I make good money especially for our age, but on a 15 year mortgage we would be just outside his suggestion
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I agree on the mortgage. Especially in Southern California. It's not realistic
 
#132
#132
Major bump. Just an update to this thread. We just paid off $40K in debt yesterday. Mostly credit cards, with a couple of smaller student loans. The only debt we have left is my law school student loan, which I will now start attacking with a vengeance. Feels so good to get rid of that crap.
 
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#133
#133
SDV said:
Major bump. Just an update to this thread. We just paid off $40K in debt yesterday. Mostly credit cards, with a couple of smaller student loans. The only debt we have left is my law school student loan, which I will now start attacking with a vengeance. Feels so good to get rid of that crap.
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My wife had $92k in student loans when we met.

I took them over when we got married. Paid them off last year, took us about 40 months.

Crazy how much of a weight lifted off of us it was. Those things were evil, and the servicing companies were even worse.
 
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#134
#134
WallyBalls said:
My wife had $92k in student loans when we met.

I took them over when we got married. Paid them off last year, took us about 40 months.

Crazy how much of a weight lifted off of us it was. Those things were evil, and the servicing companies were even worse.
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That's awesome man! Debt sucks. I think we were paying over $1,000.00 in debt/month of what we just paid off. It had gotten up to over $50K, but we paid some off over the last couple of years.
 
#135
#135
SDV said:
Major bump. Just an update to this thread. We just paid off $40K in debt yesterday. Mostly credit cards, with a couple of smaller student loans. The only debt we have left is my law school student loan, which I will now start attacking with a vengeance. Feels so good to get rid of that crap.
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Congrats!!
 
#137
#137
SDV said:
That's awesome man! Debt sucks. I think we were paying over $1,000.00 in debt/month of what we just paid off. It had gotten up to over $50K, but we paid some off over the last couple of years.
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Part of me honestly wishes I had let them linger a little longer because she never fully grasped exactly what a mess she had made for herself...but I'd rather deal with that as we move on in life rather than spend one more month making payments to Sallie F. Mae.
 
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#138
#138
WallyBalls said:
Part of me honestly wishes I had let them linger a little longer because she never fully grasped exactly what a mess she had made for herself...but I'd rather deal with that as we move on in life rather than spend one more month making payments to Sallie F. Mae.
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I hear ya man
 
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