Foo - Any Dave Ramsey fans out there?

I was curious to know if there are any Dave Ramsey fans out in the Foo galaxy?

Outdated.

Sort of a fan. I think his message is good, but I am a little skeptical of anyone who makes millions off of telling others how to live their financial lives, meanwhile pedaling B-alive royal jelly.

Oh **** I thought this was about gordon ramsey

Towlie-I'm on step 3 and going to FPU in a few weeks.

Outdated.

If everyone followed his advice the economy would be in the tank.

1-Put $1000 away for a beginner emergency fund.
2-Pay off all debt except house.
3-Finish emergency fund at 3-6 months of expenses.
4-Invest 15% of income into retirement.
5-Save for kids college (if you have kids).
6-Pay off house.
7-Build wealth from investments with NO PAYMENTS.

If everyone followed his advice the economy would be in the tank.

Yes, if everybody took his advice at the same time the economy would tank. However, since it is a one person at a time thing, it will be much better in the long run. Get rid of the debt and you can spend that money on other things including your retirement. Looked at the other way, what if nobody took his advice and kept getting deeper in debt. What happens when you can no longer work, or get laid off, or have to take a cut in pay?

Working on Baby Step 1.

Oh **** I thought this was about gordon ramsey

Ramsey Lewis anybody? :D

I am a fan, I think it is hilarious. It would be really scary if the callers were actually real.

Seems like reasonable and prudent financial advice whenever I've heard his radio program.

Interesting advice he seems to have.

Me, I just use this as a template:
Don't buy stuff you can't afford (http://consumerist.com/consumer/clips/snl-skit-dont-buy-stuff-you-cant-afford-252491.php)

But his advice of 3-6 months worth of savings is darn good. I've built it up a few times, and I've used it a few times.

His anti credit card rant and his love of debit cards are really wrong though. Not the credit card companies fault that people don't have self control, and the lack of security a debit card has is really dangerous. Ask anyone who has had a credit card stolen how big of a pain that is, and then imagine it was your debit card. Your bank account would be cleaned out and you do not get that money back until the dispute is resolved which can take over a year to do.

I started following his advice a few years ago. The guy speaks in "bumper sticker" a little much for my tastes, but the basic advice is good and frankly, really simple. Just don't spend more than you make.

I started following his advice a few years ago. The guy speaks in "bumper sticker" a little much for my tastes, but the basic advice is good and frankly, really simple. Just don't spend more than you make.


That's really not the message. Well, it is but the message is also to never borrow money and NEVER use a credit card. How many things would most of us have it we NEVER borrowed money or NEVER used a credit card?

I use a credit card for basically every single thing i purchase. Then at the end of the month we write a check and pay it off. It's not the credit card that is evil. It is the person that has no concept of math or no restraint, that is dangerous.

Like I said earlier, i think the message is good, but it paints the whole picture with a pretty broad brush.

That's really not the message. Well, it is but the message is also to never borrow money and NEVER use a credit card. How many things would most of us have it we NEVER borrowed money or NEVER used a credit card?

I use a credit card for basically every single thing i purchase. Then at the end of the month we write a check and pay it off. It's not the credit card that is evil. It is the person that has no concept of math or no restraint, that is dangerous.

Like I said earlier, i think the message is good, but it paints the whole picture with a pretty broad brush.

Based on the callers, most of the people he is helping is not very bright. So if you made it any more detailed, they would not be able to understand it. Besides, they have to have some one to blame instead of blaming their own stupidity.

Based on the callers, most of the people he is helping is not very bright. So if you made it any more detailed, they would not be able to understand it. Besides, they have to have some one to blame instead of blaming their own stupidity.

Exactly.

People are stupid.

That's really not the message. Well, it is but the message is also to never borrow money and NEVER use a credit card. How many things would most of us have it we NEVER borrowed money or NEVER used a credit card?

I use a credit card for basically every single thing i purchase. Then at the end of the month we write a check and pay it off. It's not the credit card that is evil. It is the person that has no concept of math or no restraint, that is dangerous.

Like I said earlier, i think the message is good, but it paints the whole picture with a pretty broad brush.

That's kind of my point is saying that he speaks in bumper sticker. I have some debt on a monthly basis, sure, but it's pretty much never anything that I'm not paying off at the end of the month. I'm buying a car in a few weeks. I'll be paying cash for it. No note, no loan, no nothing. It's not until you really look at finance transactions that you realize that 50% of what you're paying turns out to be interest payments. Thus, the more finance transactions you avoid, the better off you are.

That's kind of my point is saying that he speaks in bumper sticker. I have some debt on a monthly basis, sure, but it's pretty much never anything that I'm not paying off at the end of the month. I'm buying a car in a few weeks. I'll be paying cash for it. No note, no loan, no nothing. It's not until you really look at finance transactions that you realize that 50% of what you're paying turns out to be interest payments. Thus, the more finance transactions you avoid, the better off you are.

Isn't that common sense? Why do people need a radio host to tell them that?

Isn't that common sense? Why do people need a radio host to tell them that?

There are a lot of people out there who need someone to tell them that water is wet.

There are a lot of people out there who need someone to tell them that water is wet.

Yeah, i don't think that is common sense. It might be what is referred to as common sense but it certainly isn't common in the average consumer. Most look at the monthly payment and how bad they want it. Aside from that, they just buy it and move on.

the more finance transactions you avoid, the better off you are.

+1
:beer: