Who knew Dave Ramsey is a Tennessee fan

#27
#27
Anyway I didn't realize he went to UT just be how he got his smarts from
 
#28
#28
I did because I heard a story about him being flat-out cruel to a girl that called him for a donation one year. She was a student at the time, and it was her job. She said he went far beyond just being rude.
 
#29
#29
Ran into Dave Ramsey as he was leaving his company Christmas party at the Omni Nashville the night before the UT vs. Memphis game that was canceled. He seemed nice enough, despite being completely unaware that the Vols were playing the next day, though I'm not someone who has ever listened to his show.
 
Last edited:
#31
#31
I don’t see the problem with car or house debt, especially when you’re just starting out. Especially since rent right now is just so ridiculous (equivalent to my mortgage payment) and you’re literally flushing money down the toilet without building any equity.
 
#32
#32
ButchPlz said:
They're fine if you are like Mike in the OP, with crippling debt. Otherwise there are ways to use managed debt and investment to generate wealth intelligently. His stuff is chemo for people with financial cancer.
Click to expand...
Absolutely…which is probably about 65% of society. My daughter and son-in-law teach this to a lot of young married couples and literally “sets them free”! I have a couple family members on his staff as well. I heard yesterday our personal financial debt in the US has gone up exponentially in the last two years. So sad and defeating especially in the life of young families.
 
#34
#34
Nationdom said:
Your points are coming from the single mom who can’t meet her minimum. In the largest study ever done on millionaires, over 10k of them, little to non said they got there by using credit cards to accumulate points.
Click to expand...

I shouldn't take advantage of my credit score and take what the company is offering me? When am I responsible for others poor decisions?

Even if you are right, when everyone is responsible and the credit companies can't offer the points then I cancel my card. However, if someone is offering me money for being responsible I'm going to take it, and I'm not a bad guy for it either.
 
  • Like
Reactions: Noni and Vol737
#35
#35
Panthro said:
I did because I heard a story about him being flat-out cruel to a girl that called him for a donation one year. She was a student at the time, and it was her job. She said he went far beyond just being rude.
Click to expand...
So she called him unsolicited via private information to beg for money he did not desire to give away in that manner, and you think he is the rude one?
 
#36
#36
There is nothing new under the sun. Dave's spiel is nothing new or special. Financial literacy and personal finance are important but Dave, Suze and Rich Dad, Poor Dad didn't write "The Book" they wrote a book, matter of fact several.

Nothing wrong with his advice or his book, read it but check out from the library instead of buying it. Put that money in your savings account. 😏
 
  • Like
Reactions: tbh and TrumpedUpVol
#37
#37
rjd970 said:
I shouldn't take advantage of my credit score and take what the company is offering me? When am I responsible for others poor decisions?

Even if you are right, when everyone is responsible and the credit companies can't offer the points then I cancel my card. However, if someone is offering me money for being responsible I'm going to take it, and I'm not a bad guy for it either.
Click to expand...
This is the biggie. Why is it my job to take care of those folks? I am another points-getter. My wife and I pay off the card(s) every month. I use them for all my reiumbursed expenses for work. It's a major benefit and I'm not going to stop.
 
  • Like
Reactions: Go aeiou
#40
#40
lilesrt said:
We’d all be living in paid off double wides with a mil plus in the bank! 🤣
Click to expand...
😂 “live today like no one else…and tomorrow you can live like no one else”. I guess some people WOULD LOVE to have A Double Wide that’s paid for!
 
#41
#41
Nothing against Dave Ramsey, he offers generally sound financial advice to those who typically need it.
But most everything he says came from Larry Burkett before him. And I’m sure that Burkett got his principles from someone before him.

I personally liked Burkett better, he was very gentlemanly in the way that he handled people.

Showing my age.
 
  • Like
Reactions: TrumpedUpVol, WillisWG and DuckInAPen
#43
#43
Nationdom said:
Going into debt is not wise. Even at 0% it’s not wise because you are still at risk. Pay cash for everything, including home if able. And if you can’t pay cash or get a 15 year then you need to move or increase your income. Too many people think they deserve to live in a certain neighborhood or drive a certain car. They are putting their future at risk and have no self control. I know many people like this as I’m sure most of y’all do. Average car payment is $700 now.
Click to expand...

Don’t disagree, but it depends on your habits, your discipline and money management. From a personal standpoint, we have one card, use it all the time, accumulate points, use them for free hotel rooms, etc., and the card never carries a balance. We pay it off every month. Paid off my home in 20 years using a 7/1 arm and a 15 yr fixed when we refinanced and paid extra money along the way. It’s all about discipline. If you are, then use that credit to your advantage.

I’ve paid cash for 3/4 cars we have. Bought my wife’s car on a 0% for 36 months back in 2012…it’s free money. We keep cars forever anyway. During that time I probably averaged 8% - 10% a year in market returns. That’s how you use debt to your advantage. I didn’t lose that capital all at once on a vehicle. It performed much better as a lump sum in the markets and I just serviced a small note for three years well within the tolerances of my income.

From a business standpoint, say real estate, it’s smart to use debt to purchase another property that generates income. Let someone else pay that loan off for you while the asset appreciates. Why blow your own cash all at once when it takes just a little to get in and someone else is pays it off for you? Debt is a disaster for the undisciplined, but it’s also leverage used the right way.
 
  • Like
Reactions: Noni and DuckInAPen
#44
#44
Nationdom said:
For a certain individual it could be but the Bible does not say “debt is a sin”
Click to expand...
And the usury and lending rules rulesare in the Old Testament with the dietary and human sacrifice so we can get past it.
 
#45
#45
ButchPlz said:
They're fine if you are like Mike in the OP, with crippling debt. Otherwise there are ways to use managed debt and investment to generate wealth intelligently. His stuff is chemo for people with financial cancer.
Click to expand...
That’s a perfect description. If Dave would just stick to talking about consumer debt strategies for people with limited means, he’d be fine. It’s when he starts talking about wealth, investing and insurance where he gets sideways sometimes.
 
  • Like
Reactions: tbh, Vol737 and DuckInAPen
#47
#47
DuckInAPen said:
The investment commercials always show healthy and energetic retiree couples cruising the Pacific Coast Highway in their upscale convertibles. The reality is that many of us won't live long enough or be healthy enough to "live like no one else."
Click to expand...
Best financial advice I ever heard was that the perfect scenario was to spend it all and then go preplan your funeral and die the next day so that the check for your casket bounces.
 
  • Like
Reactions: Vol737, WillisWG and DuckInAPen
#48
#48
GrayWaterCanine said:
So she called him unsolicited via private information to beg for money he did not desire to give away in that manner, and you think he is the rude one?
Click to expand...
Yikes! Well I guess we all know how you speak to unwanted phone callers.
I am not cruel to anyone. I challenge you to give it a try! A simple, “no thank you” works great. Again, she said he was cruel…far past being just rude.
If it’s a young girl calling from my alma mater to see if I want to renew my previous donation, I wouldn’t be anything even close to rude.
 
  • Like
Reactions: TrumpedUpVol and DuckInAPen
#49
#49
If you are willing to tolerate his greed and hypocrisy, Ramsey's teachings are appropriate for 90% of Americans...
 
New posts
You must log in or register to reply here.

VN Store



Back
Top