Post # 1
Okay, every time there has been a finance thread Dave Ramsey is mentioned. Cause I live under a rock I hadn’t heared of him. It seems like he has a big following and people are saying that he has completely changed their lives. I listened to a few episodes of the podcast and he came across a bit arrogant and I wasn’t convinced that there was anything super special with the information and advice he provided. I’m always a bit sceptical when a real life person is a “thing” so could be that I was a bit biased.
I dont consider myself to be bad with money but I would obviously love to have more. Is his books really with spending money on (I don’t want to support his business if it’s total bs)? Is there something to be learned? Is it general or is there a specific target audience?
Post # 2
- Wedding: August 2019 - City, State
rez123 : IMO, you don’t NEED to buy the books to live by his financial “rules”. I found that the book was more inspirational/preachy than necessary and I didn’t need that. There are a ton of blogs on Pinterest that would give you more info than “Total Money Makeover”. That being said, he is kindof a douche, but a lot of people are really thick-headed.
Post # 3
rez123 : It’s pretty general in my opinion. He focuses in on psychological wins for debt reduction rather than pure math which can be really helpful for some people. I think it’s great how he’s helped so many people get out of debt, but his advice isn’t for everyone. He suggests paying off your mortgage before investing which I can’t get behind. My interest rate is half of what I average in the market – it makes more sense for me to invest than go too crazy killing my mortgage. If I had a higher interest rate though then maybe it would make more sense to pay off my mortgage.
For personal finance there are some nuances but I think the biggest thing comes down to finding a person that speaks your language even if the messages are similar.
Post # 4
I think some people need a bit more guidance or a concrete method laid out to get a handle on their finances. I personally don’t get it, or agree with some of his methods that I’ve heard (like the mortgage one, or snowball method for debt cause they aren’t the “best” number wise) but I think it’s great for those that it works for. Its better than not doing anything.
I personally wouldn’t spend any money to try to learn savings methods from him. I also don’t think it’s rocket science… money is saved when you don’t spend it. There’s no magic to it.
Post # 5
You could always check them out of the library for free.
Suze Orman would be his counterpart if you dont like his philosophy. Similar end goals with different approaches and styles. Dave Ramsey I think is more helpful if you have never had a good financial role model in your life and have never learned how to be fiscally responsible in a way that promotes growth rather than just treading water. And sadly that is a lot of people in the U.S., myself included. My family tried and lord knows they aren’t the worst out there but we didn’t have a lot growing up and when you don’t have a lot, things like emergency funds and nest eggs are intangible that no one is teaching you how to manage, let alone accomplish. He tends to factor in the psychology of how people relate with their money in a way that Suze Orman tends to lack that makes it a little more approachable for people who have never given more thought to how to manage their money beyond their immediate needs.
Post # 6
- Wedding: April 2019 - USA
rez123 : I don’t have any of his books but I use his budgeting tool Everydollar.com and I listen to his YouTube channel all the time. I really believe in his method, he has a lot of wisdom and great advice on money. It’s a no-nonsense, common sense type of plan. You definitely don’t have to purchase anything to benefit from it, though.
Post # 7
I don’t think you need to buy the book, he has loads of informative youtube videos.
I never had to get out of debt but I found him helpful when I was learning to get to grips with my finances in my early 20s.
I didn’t come from a family who had any money and no money values or management styles were taught to me.
Post # 8
Thanks for the info! I won’t be buying the book (wasn’t in the library) for now. His views on when to invest are interesting since the podcast that I really enjoy encourages to start investing asap even if it’s small amounts. I don’t agree with a few of his baby steps so could be that he is not the one for me.
I just watched a clip on YouTube about a guy who has $1m student loans. Wowzers. I feel like I’m watching social pornography more than learning for myself but maybe I’ll catch a few things. Do you have other people you’d recommend to check out? I know nobody will be perfect for my needs but I’m getting more into financial stuff (I guess it’s my 30’s crisis)<!–/data/user/0/com.samsung.android.app.notes/files/share/clipdata_191108_233401_214.sdoc–>
Post # 9
Meh. I’ve never heard anything from him that didn’t seem like common sense or haven’t heard somewhere else. But I also consider myself to be good with money and my husband and I have very little debt that we have no trouble making payments on.
I have friends/family who are terrible with money who, for them, it would probably be worth buying one of his books because they need that kind of guidance.
Post # 10
Dave in a nutshell is getting out of debt first by budgeting/ snowball method, then worrying about saving. Don’t need the books. It’s simple budgeting with math and self control
Post # 11
rez123 : I can’t stand him. I don’t like how angry and arrogant he comes across, and I also am not someone who benefits from his financial plan. He uses the “debt snowball method” which is great psychologically for people who have a lot of debt and struggle to pay it off. But it isn’t personally for me.
Not exactly the same thing, but I love The Investing For Beginners Podcast. They know their stuff and I’ve learned a ton from them about investments and finances.
Post # 12
Yea I think Dave Ramsey is good if you have a lot of debt AND decent income.
If youre truly poor/struggling to make it (ie – not overspending/living above your means) then Dave Ramsey wont be very helpful for you.
Also, if youre pretty financially responsible and dont carry much debt then Dave Ramsey wont be very helpful for you.
His views are extremely rigid and dont apply to every situation. But you can take some good ideas from him and leave what doesnt work for you. He can be very motivational to help you see things as possible – being debt free, paying off your house, having savings built up. If you dont do these things they may seem unrealistic. He makes them more real and attainable (if you have means)
Post # 13
His target audience is generally red-state, Christian, middle-income couples with a ton of debt.
I heard him once. I have zero tolerance for abrasive loud mouthed men so that was enough of that.
Mr. Money Mustache and moneyunder30 are good websites to check out if you’re interested in budgeting and investive. Dave Ramsey’s philosphy on debt and investing is…not sound.
Post # 14
The whole combination of Christianity and Finances REALLY rubbed me the wrong way, so I never even made it any farther into any of the information he has…
Post # 15
His books are 100% worth the money. I bougth the complete money makeover book.
He even writes, nothing in this book is some new idea or something you havent heard before…But it puts it in a way that makes you realize how important it is to stick with it and creates simple steps to do so.
In January this year, I was $12000 in debt, i now am debt free and have $18000 in savings! Absolutely changed my life!