Meh. I think his view on credit cards is based off of many people screwing that up. I know I only use mine for minor purchases, or if I know I got the money (laptop). I enjoy credit, but you gotta treat it right.

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Posted by urinetrouble

Member since Oct 2007

20632 posts

Posted on 7/31/10 at 8:11 am to Bone06

quote:
Well you see, if what he was selling was not working he wouldn't be selling a bunch of books. When is the last time someone told you a book was a piece of shite, and then you promptly went out and bought it?

Nobody here is saying that his overall advice isn't very good and that isn't working. It is suited (and sorta dumbed down in a sense) for the majority of population who doesn't have the most stellar financial acumen. People are pointing out a few areas of philosophical differences.

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Posted by lynxcat

Member since Jan 2008

25076 posts

Posted on 7/31/10 at 2:34 pm to urinetrouble

Ramsey's process psychologically works.

Financially, however, his advice is not the most efficient avenue.

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Posted by foshizzle

Washington DC metro

Member since Mar 2008

40599 posts

Posted on 7/31/10 at 8:22 pm to 756

quote:
quote:
hold an asset that generates an 8% return on investment,

Can't wait for those days to return!

Me neither. It wasn't that long ago when (if you had good credit) you could borrow on a credit card for the life of the balance at ridiculously low rates (better than what the federal government paid) and could get higher rates on 10 year AAA corporates. Of course, the CC issuer would try all kinds of measures to get you to add charges at higher rates that would get paid off last.

That opportunity is no longer available though.

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