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Dave Ramsey
Posted on 7/28/10 at 1:28 pm
Posted on 7/28/10 at 1:28 pm
In your opinion, is this guy full of shite, or does his systems really work? I have been listening to tidbits of his show recently on the radio and on TV, and he is getting me interested in his stuff. I am thinking of maybe either purchasing a book or something to see what it's all about. Anyone with any thoughts. I never come on this board so take it easy on me if this is a redundant subject.
9
Posted on 7/28/10 at 1:40 pm to Kracka
I think he's very legit. Most of his stuff is simple common sense (don't spend more than you make, pay off your debts) and you don't hear him hawking his wares every 10 seconds.
Posted on 7/28/10 at 1:40 pm to Kracka
quote:
does his systems really work?
if by system you mean screaming and ranting in order to make a good tv show, then yes, his system works beautifully.
The guy is intelligent, but remember that his show is entertainment.
Posted on 7/28/10 at 1:42 pm to Kracka
He's saying things that we consider common sense. But to a large percentage of the population it is an amazing revelation.
Posted on 7/28/10 at 1:45 pm to Zach
quote:
He's saying things that we consider common sense. But to a large percentage of the population it is an amazing revelation.
:kige:
Posted on 7/28/10 at 1:46 pm to TheHiddenFlask
quote:
He's saying things that we consider common sense. But to a large percentage of the population it is an amazing revelation.
This!
Posted on 7/28/10 at 1:56 pm to CamdenTiger
I wouldn't say what I Have heard from him as amazing revelations, but it has gotten me to think. I am looking for ways to better manage our money. I find it hard to do a budget even though what I do is sort of just that.
Posted on 7/28/10 at 2:12 pm to Kracka
Read The Wealthy Barber and The Millionaire Next Door. These as well as Ramsey should do you nicely. 
Posted on 7/28/10 at 2:20 pm to sstig
There is something wrong with me. I keep reading things that aren't there.
I was talking about Jim Cramer.
I'm sorry, just ignore my first post.
I was talking about Jim Cramer.
I'm sorry, just ignore my first post.
Posted on 7/28/10 at 2:22 pm to Kracka
Cut spending on several items:
1.Home Owners Ins- good reputable coompanies out there with less premium and storm deductible but just as good insurance.
2.Refi House
3.Refi Cars in One loan- most credit unions have this program
4.Change car Ins Companies
5.Cook meals and freeze single serving or multi servings in freezer so you dont throw out leftovers.
6.Dont buy that morning coffee-make it at home
7.Shop at dollar stores for generics instead of name brands(this one takes some time since you need to learn what store has what and if its cheaper- can goods and things like razors for shaving, which is a racket to begin with, are usually cheaper.)
8.Wash all clothes that dont run in one batch-cold water-in other words, do less batches.
There are others in the book as well- investment type of stuff....those are just a few above we have done and it works!!
1.Home Owners Ins- good reputable coompanies out there with less premium and storm deductible but just as good insurance.
2.Refi House
3.Refi Cars in One loan- most credit unions have this program
4.Change car Ins Companies
5.Cook meals and freeze single serving or multi servings in freezer so you dont throw out leftovers.
6.Dont buy that morning coffee-make it at home
7.Shop at dollar stores for generics instead of name brands(this one takes some time since you need to learn what store has what and if its cheaper- can goods and things like razors for shaving, which is a racket to begin with, are usually cheaper.)
8.Wash all clothes that dont run in one batch-cold water-in other words, do less batches.
There are others in the book as well- investment type of stuff....those are just a few above we have done and it works!!
Posted on 7/28/10 at 2:22 pm to Kracka
As other posters have stated, most of what he says is just plain common sense for most who read this board.
I tend to disagree with him on just a few issues, going "into debt" to buy a house being the major one. To me, you should treat your house as dual purpose -- as rent to live and as an investment. I don't think it's a bad thing to "go into debt" to buy a house. In the vast majority of instances, it's definitely preferable to renting. Further, the last 3-5 years notwithstanding, if you stay in your house long enough it's typically a great investment. You don't need to pay it off in 10-15 years. So long as it's paid off prior to your retirement, you should be fine. Then, you get live "rent free" (other than property taxes, of course) for the rest of your life. If you rented your entire life because you were afraid to go into debt (like my brother's in-laws - UHGGGG!!!), then you are still paying rent (AT A MUCH HIGHER RATE THAN 30 YEARS EARLIER) during your retirement.
I tend to disagree with him on just a few issues, going "into debt" to buy a house being the major one. To me, you should treat your house as dual purpose -- as rent to live and as an investment. I don't think it's a bad thing to "go into debt" to buy a house. In the vast majority of instances, it's definitely preferable to renting. Further, the last 3-5 years notwithstanding, if you stay in your house long enough it's typically a great investment. You don't need to pay it off in 10-15 years. So long as it's paid off prior to your retirement, you should be fine. Then, you get live "rent free" (other than property taxes, of course) for the rest of your life. If you rented your entire life because you were afraid to go into debt (like my brother's in-laws - UHGGGG!!!), then you are still paying rent (AT A MUCH HIGHER RATE THAN 30 YEARS EARLIER) during your retirement.
Posted on 7/28/10 at 2:23 pm to TheHiddenFlask
Cramer is too far out there for me. By the time he says something on his show, the money has already been made. Think about it. 
Posted on 7/28/10 at 2:23 pm to TheHiddenFlask
quote:
There is something wrong with me. I keep reading things that aren't there.
I was talking about Jim Cramer.
I'm sorry, just ignore my first post.
I was trying to wrap my head around Dave Ramsey "screaming and ranting on TV."
Thanks for clearing that up.
Posted on 7/28/10 at 2:27 pm to TheHiddenFlask
quote:
I was talking about Jim Cramer.
I'm sorry, just ignore my first post.
I thought that is who you were talking about. I just didn't know his name. Thats the stock market guy on tv who shouts all the time huh?
Posted on 7/28/10 at 2:34 pm to Kracka
quote:
if you stay in your house long enough it's typically a great investment. You don't need to pay it off in 10-15 years. So long as it's paid off prior to your retirement, you should be fine. Then, you get live "rent free" (other than property taxes, of course) for the rest of your life.
I agree with what you are saying but when listening to Ramsey you have to remember the audience he is preaching to. It is not the well educated crowd. If your in the range of a 80-100k house, it probably is a good idea to sacrifice and get it paid off as quickly as possible. And whoever recommended the millionaire next door
great book.
Posted on 7/28/10 at 3:08 pm to sstig
quote:Don't know about that, but Cramer's show is 75% fluff-and-stuff junk, and about 25% worthwhile.
By the time he says something on his show, the money has already been made
Posted on 7/28/10 at 3:11 pm to sstig
quote:
Read The Wealthy Barber and The Millionaire Next Door. These as well as Ramsey should do you nicely
I'd like to add the Richest Man in Babylon.
Posted on 7/28/10 at 3:29 pm to Y.A. Tittle
quote:
Thanks for clearing that up.
I did it the other day about Steve Forbes.
CNBC is playing on the tv behind me and I have 50 pictchbooks on my desk, so I'm suffering from finance ADD.
Posted on 7/28/10 at 4:14 pm to Cash
quote:
I'd like to add the Richest Man in Babylon.
A great book.
Posted on 7/28/10 at 4:16 pm to Kracka
quote:
Anyone with any thoughts.
I'm not 100% on board with his views on buying a house, but it is a very conservative way to buy a home. As far as the rest of his advice (ie don't go into debt on anything except for a house), it is excellent.
This post was edited on 7/28/10 at 4:17 pm
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