Dave Ramsey? Who Here Follows his guidance?
- Thread starter matab14
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He's the only person with enough balls to tell people that you are stupid, quit spending more money than you make and start paying it back. Most people are too scared that it's not politically correct to say that I think.
But say your in situation where you fresh outta school and have student loans aqquried from 4 years worth of school but have an opportunity to pick up a cheap mortgage that has potential to have a lot equity. Ramsey's theory would say don't buy until you are debt free or can pay cash. Yet it's okay to throw several thousands dollars in rent? Just doesn't add up in my head, I guess....
I don't worship him, but I would recommend his guidance to anyone. I have gone from $30K in credit card debt to just a corporate gas card. I owe $3K on my Cobra, and as soon as I get the motor put back together on my fox I'll sell my 3 series and have no car payments.
The way the program works is that you're in a class with a bunch of other people in debt and you're forced to talk about personal finances and how much you're spending on this and that. Once you see you're not alone it makes you feel ok. The class gives you little achievable goals and you just take it one step at a time. It's really amazing how quickly things can come together and get turned around.
The guy is not the be all and end all of personal finance, but he will change the way you look at debt forever. Imagine how simple life would be if your home and car were paid for. :shrug:
The way the program works is that you're in a class with a bunch of other people in debt and you're forced to talk about personal finances and how much you're spending on this and that. Once you see you're not alone it makes you feel ok. The class gives you little achievable goals and you just take it one step at a time. It's really amazing how quickly things can come together and get turned around.
The guy is not the be all and end all of personal finance, but he will change the way you look at debt forever. Imagine how simple life would be if your home and car were paid for. :shrug:
his stuff works!!!! if you want to be rich follow his lead!
from those that have owed 400,000 in debt and payed everything off in just under 7 years.
to the newlywed couple that was bringing home 80k a year. they chose to rent instead of buy. they lived on 30k a year for 4 years. then purchased an 150k house in cash, and purchased 50k in furniture in cash to furnish the house. they now live in a brand new house with no mortgage and can still save 50k a year! thats how you win financially! :beer:
from those that have owed 400,000 in debt and payed everything off in just under 7 years.
to the newlywed couple that was bringing home 80k a year. they chose to rent instead of buy. they lived on 30k a year for 4 years. then purchased an 150k house in cash, and purchased 50k in furniture in cash to furnish the house. they now live in a brand new house with no mortgage and can still save 50k a year! thats how you win financially! :beer:
I'm doing this now, and I've never heard of Dave Ramsey. I guess smart people can figure it out on their own.
Yeah, they CAN but most of them see shiny things, twin screws, True Forged wheels and big TV's and it confuses their oh so smart brains... :beer:
I still get confused from time to time, but I have a pretty good handle on it.
oke:
His teachings are based mostly on common sense. Which is ironic considering it's not that common these days... lol
Yeah, they CAN but most of them see shiny things, twin screws, True Forged wheels and big TV's and it confuses their oh so smart brains... :beer:
I still get confused from time to time, but I have a pretty good handle on it.
oooooooh preeeetty!!!! I waaant! :banana:
lol yeah definately happens. I'm trying to get mine straight, paying the small ones off first, then going to attack my credit card.
Matt: You suck. That is all!! ;-)
I agree with that too....Im just kind of saying from what I hear and see out of Ramsey his idea is to pay cash for everything and no finance. I don't know about everyone else's salaries but I'll more than likely never be able to do unless i had multiple incomes.
I just think you have to buy what you can afford and put back money when you can.
He is speaks common sense stuff. Nothing special about him. Alot people need to be told what to do in order to see what they are doing is wrong.
My point exactly.
If you listen to Ramsey you will know that he doesn't say pay cash for a house. He says he personally only pays cash for a house. His guidlines for buying a home is 20% down, monthly payment less than 1/4 of your takehome pay, and only do a 15 year mortgage.
Wintermute
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I like how he yells at dumb people on his tv shows. He's a good cook.
I like peanuts.
I like peanuts.
oh my fault. Guess I missed that part. I can def understand the 15yr mortgage for sure....but I dont think 30yr are as bad either if it all you can qualify for and make sure and pay extra amount on your payments...
i listen to his podcast but he is too far right for me.
I used to listen to him on my way to/from work.
I like his way of thinking.
I like his way of thinking.
Student loan debt is a little different than other kinds of debt. I don't think Dave would tell you not to buy a house just because you have student loan debt. Just make sure you can afford it and you have a 6 month emergency fund.
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