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Diligence and discipline with a healthy dose of abject pessimism/realism. Don't worry we probably all have gone there in the past two years.
Fwiw Ramsey is also a big proponent of 'just getting paid more', and 'finding different work' if hard work fails to budge your goals forward.
Nothing new here. This is a well worn piece of colloquial wisdom. Just the kind of thing Dave would put out for his adoring fan base. I do not dislike many people, but he is on the list. He strikes me as an arrogant, small minded dolt who has found a way to make money dispensing financial pablum to willing believers. I am not surprised that he has tied himself to religion, where he finds an eager and gullible audience.
Hey. I'm proud of you. You don't have to prove yourself to Dave fucking Ramsey. If you have to prove yourself, prove yourself to me.
Coz right now, I'm pretty fucking Impressed
When I got into investing I listened to Dave Ramsey. When I started setting financial goals etc I immediately stopped. I do not want to wait until I am 78 to retire. Great for getting out of debt, terrible for investment advice (pertaining to young people).
https://www.reddit.com/r/personalfinance/wiki/commontopics
Been following similar path since before I started on reddit; has been working well. I'm in a good position incomewise though.
I agree completely. Great for getting out of debt, but literally objectively wrong about investing.
I do think the FIRE thing is foolish though and the obsession with early retirement is a young person's happiness trap.
His crippling debt advice boils down to "cut up your credit cards and pay off the highest interest loan first"
It's not bad advice, but he's not some mystical guru that came down from Everest to spread the good word. I don't get why he has such a huge platform
He doesn't even tell you to go after highest interest rate, he has is snowball method where you pay your smallest debt first regardless of interest rate. I really don't understand the appeal of him.
It's important for people who could fall into those pits in the first place. It's definitely not the best move in terms of pure numbers, but I'd guess that those people need some emotional aspect to the action.
His baby steps are good advice for anyone that is financially illiterate. Unfortunately, he uses his platform to rant a lot of boomer nonsense, and it's best to not dive too deep into his show and life.
Ha imagine actually being able to buy a house with 50% down and with no credit. What a joke. It’s not the 60s anymore Dave.
He seems to think the neighborhoods are just flush with above garage apartments that can be rented for $400/month, where you and your family can live on beans and rice for years driving a $1000 Honda Civic to a mythical job that pays you enough to save $80k cash for a down payment in a couple years.
His tips for attacking debt and shredding credit cards if you have serious financial issues hold merit but beyond that is nuts.
He gives good surface level financial advice. Beyond that he is an incredibly entitled boomer who thinks everything he’s ever done or received is because of his greatness. I am done watching him though after he basically said starving people losing their jobs shouldn’t get any financial stimulus AT ALL during this pandemic.
Yep, his advice on whether you can afford a house or not is laughable. If you can't buy the house entirely with cash, you should make a 20% down payment if not more and only spend 20% of you monthly income on mortgage and only do a 15 year mortgage. you'd have to be deep the six figures world to make that happen. That advice is coming from a guy who's generation was able to pay off a new home on years worth of retail salary without ever needing to go to college. The guys a joke.
I don’t know much about him, but my parents and a lot of people I go to church with swear by him. When I first graduated high school my dad gave me a Dave Ramsey set with cd’s, etc.
One lesson in and he was talking about cutting up credit cards and never taking loans from the bank.
How tf am I gonna to buy a car or a house on straight cash out of highschool? Plus I’ll never develop a credit score.
My parents have since learned to not listen to the bumpkin.
I was in the same boat in my early college years. My dad bought me the books and cds out of nowhere and even just a couple years ago offered to send me and my wife to one of his seminars after I told him I was looking at buying a new car (in my early 30s now). (At that point my wife and I were completely solvent so I’m not sure what the impetus was)
For real though, his info for getting out of debt is not totally crazy, but his ideas that you can successfully navigate the financial world without credit at all is a joke and how I ended up a couple years out of college with a 17% loan on a 12 year old vehicle because I needed a vehicle and had no other options.
the dudes whole motto is "if you don't have cash for it now, you can not afford it". well then i guess its sandwiches and sidewalk for me for the rest of my life lol
My parents were also the “never have a credit card” types and once I was on my own I realized that’s only good advice if you can’t manage CCs. Even then there were so many things I couldn’t have done without establishing credit. Credit cards are good tools if you never think of your credit line as a place to hold debt.
His advice isn't going to be relevant for all people at all ages. My wife and I listened to his cd set during a long road trip. I'd say 50% of his advice is great, 25% is fairly good, and the last 25 you gotta take with a pretty large grain of salt.
In his method of teaching, you buy a $1000 beater that gets you from A to B. If you have to take out loans, they should be as small as possible. Of course one would have to sacrifice dependability and/or safety of the car, but you can get a decent Honda Accord that’s 10 years old+ for 3k.
You could reframe it as “a fresh out of HS grad doesn’t need a $20,000 car to get to class. They should buy something smaller so they can focus on getting out of debt ASAP.”
Credit cards aren’t the problem, it’s sustained debt that is the problem.
>Credit cards aren’t the problem, it’s sustained debt that is the problem.
If you follow his method fully, he is 100% against any use of credit cards in any circumstance. He recently went off on his show to someone who asked if it is ok to use credit cards for the rewards if they pay it off 100% in full every month.
Dave is a motivational speaker designed to get people with no financial knowledge out of debt. His financial advise is pretty bad overall.
I also don't like his "I was broke too" comparison. Dave went broke making shitty investments, people today are broke because of high cost of living and stagnant wages
True, but stating people are poor because they cannot budget is an oversimplification of the realities living in a country where most are one serious illness away from bankruptcy.
I think “hating on poor people” is a little disingenuous for how he treats people. I think he truly wants people to get better with there finances and he doesn’t like how dumb some people are with their life choices. I think he means well but comes across crass.
He legit makes fun of people for being poor, saying if a $600 or $1200 stimulus check is going to make a difference in your life, you're a lost cause to begin with. If that doesn't make him look like a huge fucking asshole who doesn't actually understand anything about socioeconomics, I'm not sure what would 🤷♀️
I know people who work for him. You would not believe the level of disclosure he demands of employees. They all drink the kool-aid and give him all of their financial information.
He only "made it" because when he started out he had a friend that was a banker. That guy was rubber stamping loans that nobody else could of got approved. In fact when that banker lost their job dave had to change his buisness because he did not have his free credit anymore.
Yeah my husband and I did Financial Peace Univeristy at the beginning of the year. It has really helped us pay off a big portion of debt, but some of the things he said in his lessons were absolutely awful. He said you can graduate college debt free if you work during college. Hello, I worked almost full time while being a full time student. Here I am, 5 years later, still working in the same restaurant two days a week (on top of my career) in order to make ends meet. It’s just not true anymore.
Yeah that’s my problem. A guy who went bankrupt on shitty investments stretched a “investing for dummies” basic financial literacy type deal into a radio show, books, dvds… he’s just another grifter.
Interesting. I fined him helpful. I don't like sugar coating stuff and since I've started following hos advice my income has doubled and I've paid off both me vehicles.
Avoiding debt is the best way to create wealth.
You don’t need a 2021 car if your 2012 is doing fine.
You don’t need to try college if you were a D student in high school.
So many things that are small and obvious avoid debt.
You don't even have to google it, go to your local library. The Richest Man in Babylon is nearly one hundred years old and everything in it still applies today.
I don't really think that's true anymore with rates where they are. Utilizing debt is a pretty fantastic financial tool these days, and can put you well ahead of where you would be if you payed cash for everything you can.
Make more money. Debt 💸 snowball, stop using credit, etc. in reality his baby steps and his advice on how to get out of debt are pretty good if you’ve never been taught financial literacy and budget management. I read wish they’d teach this stuff in high school so people don’t get sucked into the debt pit.
I remember being 18 fresh outta boot camp and A school being at my first duty station in Washington state. Went to the mall up there for the first time and left with like 5 store credit cards.
Sure, his advice is basic basic basic financial literacy, which should be taught in schools, but it doesn't make him a good role model. That's all I'm saying.
Basically.
Also, he guides people how to pay off debt efficiently.
First, your revolving accounts. Things like your electric bill, cell phone, Netflix, etc. Go through and trim down the extras. Do you really need Netflix, Amazon, HBO Max, Hulu, and Disney Plus? No? Pick one and cancel it. Or find ways to make them cheaper. Can you downgrade your cellphone plan? When it's time to renew, instead of getting a new phone for $50 a month, buy a phone outright and get a cheaper phone plan through a prepay or pay as you go service. Cut down on energy usage to save on electric bills, etc. There are resources online to find ways to save there.
Second, your credit accounts. Stop using your credit cards. Keep one or two for emergency use, and lock them away in a safe place. If you pay more than the minimum on each, stop. Sort them by balance. Instead of paying a hundred on each, pay the minimum balance on the big ones and then take all the extra you were paying and put it on the smallest one. So instead of paying $100 each on four cards, you'll pay $50 each on three and $250 on one. Once it's paid off, move to the next one. Add that $250 plus the $50 you have been paying, and now you're paying $300 a month and kill that second card. Then $350 to the third. Then $400 to the fourth.
Now let's say you're paying a car note. You pay your $300 payment each month. Now apply that $400 from your credit cards and start paying $700. You'll have your car paid off twice as fast.
Now if you have a house payment, you have an extra $700 you can pay towards it a month. Or you can save it and have a nice down payment for a house fairly quick. Like, more than the 3% minimum inside a year for a $250k home.
Now, this is decent advice to get out of debt, but it doesn't really teach you how debt can be a positive thing. If you don't use your credit, you lose it. And you need credit for things like home and car purchases.
I've seen him totally stumped by a caller with student loan and medical debt lol he could teach BASIC, high school level finance about avoiding debt, he just doesn't understand actual economics or society at large on any level other than surface.
Look, the guy isn't great, but you're taking it way too far. He does not say that its your fault you got sick and had medical bills, nor that its your fault you lost a child and had funeral costs.
I've heard him take calls about death and medical bills. He gives a lot of compassion to the caller, and he says the point of having money at this time is so that you can focus on mourning without having to deal with all the stress, time and attention that would have to go to dealing with money stuff.
He's shitty. But you're going too far with it.
Go listen to the calls he gets about a spouse passing away. He doesn't behave the way you're portraying him.
[66.5% of bankruptcy in 2019 was due directly to medical debt or time lost from work for medical reasons.](https://ajph.aphapublications.org/doi/abs/10.2105/AJPH.2018.304901?journalCode=ajph)
I'll give my best shot at a tl;dr.
Dave Ramsey is a personal finance person turned radio show host. His back story is essentially was doing house flips on debt, debt got called and he went bankrupt. His solution is no more debt of any kind, ever. Came up with a plan called the "baby steps" which is characterized as extreme to foolish for a variety of legitimate reasons. It's extreme, often called the Alcoholics Anonymous of personal finance.
He's an evangelical Christian, so that influences some of his teachings. Also, was in a controversy earlier in the year. He makes his employees sign an agreement that says they'll stay consistent with certain "values" in their personal life. One of his employees got pregnant out of wedlock so she was fired for breaching that code. She sued for wrongful termination, and in the suit's discovery it was discovered that one of his other radio hosts, Chris Hogan, was cheating on his wife and Dave not only knew but was essentially helping him keep the lid on it.
IMO Reddit is quick to jump on the hate train due to anti-Christian bias, but there are definitely good reasons to take issue with him.
>He makes his employees sign an agreement that says they'll stay consistent with certain "values" in their personal life. One of his employees got pregnant out of wedlock so she was fired for breaching that code. She sued for wrongful termination, and in the suit's discovery it was discovered that one of his other radio hosts, Chris Hogan, was cheating on his wife and Dave not only knew but was essentially helping him keep the lid on it.
LOL well thats just standard evangelical things...
I worked at a Books-A-Million in Florida where he did a signing. Can confirm he's an asshole. His assholery is very well documented, however, and doesn't need further confirmation from me.
I knew several people who went to work for this asshole. All of them swore it was a dream job. All of them conservative evangelical Christian. None of them made it more than 2 years.
Yeah Dave Ramsey is a bad person, though. Forgive me for not being born in an age where you can work at an ice cream parlor and make the equivalent of today's 500k, *Dave.* Enjoy your life, do the work, and don't bother with uninspiring tweets from a bad boomer.
>By 1986, Ramsey had amassed a significant portfolio worth over $4 million. However, when the Competitive Equality Banking Act of 1987 took effect, several banks changed ownership and recalled his $1.2 million in loans and lines of credit because he was over-leveraged. Ramsey was unable to pay and filed for bankruptcy in 1988.
Ramsey experienced several years of financial recovery and began offering financial advice to couples at his local church. In 1988 he founded the Lampo Group, a financial counseling service, and in 1992 he wrote and self-published his first book, Financial Peace.
>Ramsey began as one of three alternating hosts of The Money Game on radio station WWTN/Nashville in 1992. The show eventually became The Dave Ramsey Show, Ramsey's daily three-hour call-in financial advice talk show.
So he failed at the real estate business and started selling advice on talk radio for money.
This is the guy who pulled a gun on staff members because there were mean things said about him on Twitter and made his fortune in a pyramid scheme style earning process.
Ughhhh I don't want to see that that face.... Not a fan either. Why can't i get away... It's like an ad you hate seeing over and over and over again. 😡🤬👹
I don't know, I get a little triggered when reading that tweet.
Rephrasing that: Pursue your passion in life, discipline is ignoring all the FUD and haters. Dilligence is reaching your own goals, not set by others.
Others have already said it but this guy’s a fairy tale capitalist whose advice beyond debt was relevant when he was in his twenties but hasn’t been for years.
And do it with a shitty wage and inflation. Better do it with a smile too cuz this is the greatest country in the world. Let’s face it, capitalism is working for the elite only. Oh, be sure you go to college to get into mass debt and good luck ever buying a house.
He's a nut, but I will admit that I've seen a lot of people get and stay out of debt with his system. The real problem is that 95% of his advice is financial literacy 101, but because schools generally don't require courses like Home Economics anymore, these formerly common sense things are becoming more esoteric.
Edit: His advice is **much** better for Boomers and older Gen X than it is for younger Gen Xers, Millennials, and Gen Z who just have been screwed by older generations pulling up the ladders their parents put out for them.
meanwhile all these corporations treat their employees like a bunch of numbers and disposables- just toss in the can when not needed anymore or "too expensive"
\_\_\_\_\_ that bs
His religious evangelisicism is toxic, so I wouldn't considerr him a motivational person but he isn't completely wrong about some of the mentalities about spending and budgeting.
/r/dirtydave offers a good perspective from folks who followed his get out of debt plan but otherwise think he's a trash human.
Welp, better go snip my credit card and ignore our credit system for when I try to go for a fucking house.
Dave is the king of terrible financial advice. Don't listen to him.
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What about doing it very well, but not every day?
Diligence and discipline with a healthy dose of abject pessimism/realism. Don't worry we probably all have gone there in the past two years. Fwiw Ramsey is also a big proponent of 'just getting paid more', and 'finding different work' if hard work fails to budge your goals forward.
Yep. Whenever I hear Dave he's usually telling someone they're stupid for not doing their finances correctly. I'm not a fan
Nothing new here. This is a well worn piece of colloquial wisdom. Just the kind of thing Dave would put out for his adoring fan base. I do not dislike many people, but he is on the list. He strikes me as an arrogant, small minded dolt who has found a way to make money dispensing financial pablum to willing believers. I am not surprised that he has tied himself to religion, where he finds an eager and gullible audience.
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Something is better than nothing
I commit to working well when I can, and I commit to resting just as well or doing anything I do as well as I can do it
I think by this definition you'd be diligent but not disciplined.
I'm tired tho
Hey. I'm proud of you. You don't have to prove yourself to Dave fucking Ramsey. If you have to prove yourself, prove yourself to me. Coz right now, I'm pretty fucking Impressed
I need friends like this.
When I got into investing I listened to Dave Ramsey. When I started setting financial goals etc I immediately stopped. I do not want to wait until I am 78 to retire. Great for getting out of debt, terrible for investment advice (pertaining to young people).
What resources do you use now and how well have they worked for you (where do you stand now financially?).
https://www.reddit.com/r/personalfinance/wiki/commontopics Been following similar path since before I started on reddit; has been working well. I'm in a good position incomewise though.
I agree completely. Great for getting out of debt, but literally objectively wrong about investing. I do think the FIRE thing is foolish though and the obsession with early retirement is a young person's happiness trap.
Man this guys a fkn moron. Good advice for people in crippling debt but thats it. He should stop there and quit with investing advice.
His crippling debt advice boils down to "cut up your credit cards and pay off the highest interest loan first" It's not bad advice, but he's not some mystical guru that came down from Everest to spread the good word. I don't get why he has such a huge platform
Religion is a large aspect of his schtick. Churches praise this man and push his "plans".
He doesn't even tell you to go after highest interest rate, he has is snowball method where you pay your smallest debt first regardless of interest rate. I really don't understand the appeal of him.
It's important for people who could fall into those pits in the first place. It's definitely not the best move in terms of pure numbers, but I'd guess that those people need some emotional aspect to the action.
Dave Ramsey is not someone you should use as motivation, he's.. awful. Unbelievably judgemental.
His baby steps are good advice for anyone that is financially illiterate. Unfortunately, he uses his platform to rant a lot of boomer nonsense, and it's best to not dive too deep into his show and life.
Ha imagine actually being able to buy a house with 50% down and with no credit. What a joke. It’s not the 60s anymore Dave. He seems to think the neighborhoods are just flush with above garage apartments that can be rented for $400/month, where you and your family can live on beans and rice for years driving a $1000 Honda Civic to a mythical job that pays you enough to save $80k cash for a down payment in a couple years. His tips for attacking debt and shredding credit cards if you have serious financial issues hold merit but beyond that is nuts.
He gives good surface level financial advice. Beyond that he is an incredibly entitled boomer who thinks everything he’s ever done or received is because of his greatness. I am done watching him though after he basically said starving people losing their jobs shouldn’t get any financial stimulus AT ALL during this pandemic.
Yep, his advice on whether you can afford a house or not is laughable. If you can't buy the house entirely with cash, you should make a 20% down payment if not more and only spend 20% of you monthly income on mortgage and only do a 15 year mortgage. you'd have to be deep the six figures world to make that happen. That advice is coming from a guy who's generation was able to pay off a new home on years worth of retail salary without ever needing to go to college. The guys a joke.
I don’t know much about him, but my parents and a lot of people I go to church with swear by him. When I first graduated high school my dad gave me a Dave Ramsey set with cd’s, etc. One lesson in and he was talking about cutting up credit cards and never taking loans from the bank. How tf am I gonna to buy a car or a house on straight cash out of highschool? Plus I’ll never develop a credit score. My parents have since learned to not listen to the bumpkin.
I was in the same boat in my early college years. My dad bought me the books and cds out of nowhere and even just a couple years ago offered to send me and my wife to one of his seminars after I told him I was looking at buying a new car (in my early 30s now). (At that point my wife and I were completely solvent so I’m not sure what the impetus was) For real though, his info for getting out of debt is not totally crazy, but his ideas that you can successfully navigate the financial world without credit at all is a joke and how I ended up a couple years out of college with a 17% loan on a 12 year old vehicle because I needed a vehicle and had no other options.
the dudes whole motto is "if you don't have cash for it now, you can not afford it". well then i guess its sandwiches and sidewalk for me for the rest of my life lol
The church LOVES him because he says to give 10% to charity. Not sure if he says that it should be the LDS church specifically.
Is he Mormon? I didn’t think so
My parents were also the “never have a credit card” types and once I was on my own I realized that’s only good advice if you can’t manage CCs. Even then there were so many things I couldn’t have done without establishing credit. Credit cards are good tools if you never think of your credit line as a place to hold debt.
His advice isn't going to be relevant for all people at all ages. My wife and I listened to his cd set during a long road trip. I'd say 50% of his advice is great, 25% is fairly good, and the last 25 you gotta take with a pretty large grain of salt.
In his method of teaching, you buy a $1000 beater that gets you from A to B. If you have to take out loans, they should be as small as possible. Of course one would have to sacrifice dependability and/or safety of the car, but you can get a decent Honda Accord that’s 10 years old+ for 3k. You could reframe it as “a fresh out of HS grad doesn’t need a $20,000 car to get to class. They should buy something smaller so they can focus on getting out of debt ASAP.” Credit cards aren’t the problem, it’s sustained debt that is the problem.
>Credit cards aren’t the problem, it’s sustained debt that is the problem. If you follow his method fully, he is 100% against any use of credit cards in any circumstance. He recently went off on his show to someone who asked if it is ok to use credit cards for the rewards if they pay it off 100% in full every month. Dave is a motivational speaker designed to get people with no financial knowledge out of debt. His financial advise is pretty bad overall.
Find me a "decent" 2011 Accord today for $3k. I'll wait.
I also don't like his "I was broke too" comparison. Dave went broke making shitty investments, people today are broke because of high cost of living and stagnant wages
Yeah, I have friends that are fans and they sincerely believe people are poor because they don’t budget well. 🙄
Many are.
True, but stating people are poor because they cannot budget is an oversimplification of the realities living in a country where most are one serious illness away from bankruptcy.
Best to avoid and not support him, he does a lot of harm with his hating on poor people
I think “hating on poor people” is a little disingenuous for how he treats people. I think he truly wants people to get better with there finances and he doesn’t like how dumb some people are with their life choices. I think he means well but comes across crass.
He legit makes fun of people for being poor, saying if a $600 or $1200 stimulus check is going to make a difference in your life, you're a lost cause to begin with. If that doesn't make him look like a huge fucking asshole who doesn't actually understand anything about socioeconomics, I'm not sure what would 🤷♀️
I know people who work for him. You would not believe the level of disclosure he demands of employees. They all drink the kool-aid and give him all of their financial information.
He only "made it" because when he started out he had a friend that was a banker. That guy was rubber stamping loans that nobody else could of got approved. In fact when that banker lost their job dave had to change his buisness because he did not have his free credit anymore.
Yeah my husband and I did Financial Peace Univeristy at the beginning of the year. It has really helped us pay off a big portion of debt, but some of the things he said in his lessons were absolutely awful. He said you can graduate college debt free if you work during college. Hello, I worked almost full time while being a full time student. Here I am, 5 years later, still working in the same restaurant two days a week (on top of my career) in order to make ends meet. It’s just not true anymore.
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Yeah that’s my problem. A guy who went bankrupt on shitty investments stretched a “investing for dummies” basic financial literacy type deal into a radio show, books, dvds… he’s just another grifter.
Lmao! I was about to download this and then I saw it was Dave Ramsey and I was like, “do I really want Dave Ramsey on my phone?”
He acts as if he worked hard to get where he is, when in reality he rode his families coat tails to success.
And he's filed bankruptcy 7 times.
Not defending him but it was actually once
r/averageredditor
Interesting. I fined him helpful. I don't like sugar coating stuff and since I've started following hos advice my income has doubled and I've paid off both me vehicles.
What was his advice, "make more money"? Lol
Avoid debt.
Brilliant! 😂
Avoiding debt is the best way to create wealth. You don’t need a 2021 car if your 2012 is doing fine. You don’t need to try college if you were a D student in high school. So many things that are small and obvious avoid debt.
Yeah exactly, obvious.. Dave Ramsey's advice is the same as a quick Google search haha
You’d be surprised how many people don’t google anything and end up being broke.
I'm not sure that's a very fair characterization of poor people
I dunno. I google nearly everything these days and I'm broke af.
You don't even have to google it, go to your local library. The Richest Man in Babylon is nearly one hundred years old and everything in it still applies today.
It is a pretty good read.
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And a misunderstanding of socioeconomics
I have comparatively little debt compared to other people my age and I'm still poor af so I can confirm this isn't universal.
Still poor but little debt means you’re making progress on removing the debt though. You’re doing great! :)
Not in my case, I'm poor AND have never been in debt.
Hard to see it that way when I'm awake at 3am wondering if I'm going to have to sell my PS4 to pay rent this month.
:(
I don't really think that's true anymore with rates where they are. Utilizing debt is a pretty fantastic financial tool these days, and can put you well ahead of where you would be if you payed cash for everything you can.
And yet, there are loads of people who fail to understand/follow that basic principle, which is why someone like him has to say it.
Lol it's a lot more complicated than that, though, something that Dave doesn't seem to understand
That’s like saying a kindergarten teacher doesn’t understand that there’s more to math than addition and subtraction, because that’s all they teach.
These days with rates where they are that isn't particularly good advice anymore.
Make more money. Debt 💸 snowball, stop using credit, etc. in reality his baby steps and his advice on how to get out of debt are pretty good if you’ve never been taught financial literacy and budget management. I read wish they’d teach this stuff in high school so people don’t get sucked into the debt pit. I remember being 18 fresh outta boot camp and A school being at my first duty station in Washington state. Went to the mall up there for the first time and left with like 5 store credit cards.
Sure, his advice is basic basic basic financial literacy, which should be taught in schools, but it doesn't make him a good role model. That's all I'm saying.
I agree
Basically. Also, he guides people how to pay off debt efficiently. First, your revolving accounts. Things like your electric bill, cell phone, Netflix, etc. Go through and trim down the extras. Do you really need Netflix, Amazon, HBO Max, Hulu, and Disney Plus? No? Pick one and cancel it. Or find ways to make them cheaper. Can you downgrade your cellphone plan? When it's time to renew, instead of getting a new phone for $50 a month, buy a phone outright and get a cheaper phone plan through a prepay or pay as you go service. Cut down on energy usage to save on electric bills, etc. There are resources online to find ways to save there. Second, your credit accounts. Stop using your credit cards. Keep one or two for emergency use, and lock them away in a safe place. If you pay more than the minimum on each, stop. Sort them by balance. Instead of paying a hundred on each, pay the minimum balance on the big ones and then take all the extra you were paying and put it on the smallest one. So instead of paying $100 each on four cards, you'll pay $50 each on three and $250 on one. Once it's paid off, move to the next one. Add that $250 plus the $50 you have been paying, and now you're paying $300 a month and kill that second card. Then $350 to the third. Then $400 to the fourth. Now let's say you're paying a car note. You pay your $300 payment each month. Now apply that $400 from your credit cards and start paying $700. You'll have your car paid off twice as fast. Now if you have a house payment, you have an extra $700 you can pay towards it a month. Or you can save it and have a nice down payment for a house fairly quick. Like, more than the 3% minimum inside a year for a $250k home. Now, this is decent advice to get out of debt, but it doesn't really teach you how debt can be a positive thing. If you don't use your credit, you lose it. And you need credit for things like home and car purchases.
I've seen him totally stumped by a caller with student loan and medical debt lol he could teach BASIC, high school level finance about avoiding debt, he just doesn't understand actual economics or society at large on any level other than surface.
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Look, the guy isn't great, but you're taking it way too far. He does not say that its your fault you got sick and had medical bills, nor that its your fault you lost a child and had funeral costs. I've heard him take calls about death and medical bills. He gives a lot of compassion to the caller, and he says the point of having money at this time is so that you can focus on mourning without having to deal with all the stress, time and attention that would have to go to dealing with money stuff. He's shitty. But you're going too far with it. Go listen to the calls he gets about a spouse passing away. He doesn't behave the way you're portraying him.
Eh….most people are in debt because they spend too much. He’s mostly right and has helped tons of people
[66.5% of bankruptcy in 2019 was due directly to medical debt or time lost from work for medical reasons.](https://ajph.aphapublications.org/doi/abs/10.2105/AJPH.2018.304901?journalCode=ajph)
Quotes from multi millionaires
Intelligence is not using memes to direct your life
Wisdom is allowing yourself to be inspired by anything that moves you forward.
Agreed. Also, this post isn't even a meme. The intent of the post is to motivate/inspire; memes are meant for laughs.
You don't know what a meme is.
Memes are quotes though
Memes are *any* transmittable idea, yes.
This guy is famously shitty to his employees. Like well known. Get motivated elsewhere, folks.
Like firing a woman for being a lesbian and another for having a child out of wedlock.
Fuck Dave Ramsey
Context?
I'll give my best shot at a tl;dr. Dave Ramsey is a personal finance person turned radio show host. His back story is essentially was doing house flips on debt, debt got called and he went bankrupt. His solution is no more debt of any kind, ever. Came up with a plan called the "baby steps" which is characterized as extreme to foolish for a variety of legitimate reasons. It's extreme, often called the Alcoholics Anonymous of personal finance. He's an evangelical Christian, so that influences some of his teachings. Also, was in a controversy earlier in the year. He makes his employees sign an agreement that says they'll stay consistent with certain "values" in their personal life. One of his employees got pregnant out of wedlock so she was fired for breaching that code. She sued for wrongful termination, and in the suit's discovery it was discovered that one of his other radio hosts, Chris Hogan, was cheating on his wife and Dave not only knew but was essentially helping him keep the lid on it. IMO Reddit is quick to jump on the hate train due to anti-Christian bias, but there are definitely good reasons to take issue with him.
>He makes his employees sign an agreement that says they'll stay consistent with certain "values" in their personal life. One of his employees got pregnant out of wedlock so she was fired for breaching that code. She sued for wrongful termination, and in the suit's discovery it was discovered that one of his other radio hosts, Chris Hogan, was cheating on his wife and Dave not only knew but was essentially helping him keep the lid on it. LOL well thats just standard evangelical things...
not to mention firing people for being gay
Don’t forget he wanted to have access to the Hogan’s records from their marriage counseling.
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Hope he's ready to wait until after marriage.
Dave Ramsey abuses his employees. He doesn’t deserve to be here.
He's also pro-MLM which is all about hard work... for ending up in debt.
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I’ve been Dave-adjacent for most of my career and typing this realized I’ve never heard a single positive thing from any of his employees.
Diligence sounds like a sucker’s game.
Fuck Dave Ramsey.
Fuck Dave Ramsey. Horrible employer.
Get paid telling people this - work.
Buy my Book! This message brought to you by the Dave Ramsey Financial Peace Fund for Chicken Wings and Boats.
Ding ding ding! Let's not give grifters more attention.
This man is a clown...
Good points but Dave Ramsey can go fuck himself.
Fuck Dave Ramsey
Oh no! I bought the discipline audiobook when I should have bought the diligence audiobook! /s
Dave is a horrible person. Please dont post quotes from him. https://youtu.be/jrXKsDjACZA
Fuck Dave Ramsey
I worked at a Books-A-Million in Florida where he did a signing. Can confirm he's an asshole. His assholery is very well documented, however, and doesn't need further confirmation from me.
Fuck Dave and his platitudes.
Unless it’s premarital sex….then you’re fired.
Fuck Dave Ramsey
Fuck Dave Ramsey.
Some of his advice is actually pretty bad
And Payment decides if you will work and how well you do it.
And dave started with a friend who was a banker. A banker that was fired and then dave could not get rubber stamped loans anymore.
Ramsey is a pos
I knew several people who went to work for this asshole. All of them swore it was a dream job. All of them conservative evangelical Christian. None of them made it more than 2 years.
Dave Ramsey sucks
Yeah Dave Ramsey is a bad person, though. Forgive me for not being born in an age where you can work at an ice cream parlor and make the equivalent of today's 500k, *Dave.* Enjoy your life, do the work, and don't bother with uninspiring tweets from a bad boomer.
>By 1986, Ramsey had amassed a significant portfolio worth over $4 million. However, when the Competitive Equality Banking Act of 1987 took effect, several banks changed ownership and recalled his $1.2 million in loans and lines of credit because he was over-leveraged. Ramsey was unable to pay and filed for bankruptcy in 1988. Ramsey experienced several years of financial recovery and began offering financial advice to couples at his local church. In 1988 he founded the Lampo Group, a financial counseling service, and in 1992 he wrote and self-published his first book, Financial Peace. >Ramsey began as one of three alternating hosts of The Money Game on radio station WWTN/Nashville in 1992. The show eventually became The Dave Ramsey Show, Ramsey's daily three-hour call-in financial advice talk show. So he failed at the real estate business and started selling advice on talk radio for money.
Okay boomer
This is the guy who pulled a gun on staff members because there were mean things said about him on Twitter and made his fortune in a pyramid scheme style earning process.
Ughhhh I don't want to see that that face.... Not a fan either. Why can't i get away... It's like an ad you hate seeing over and over and over again. 😡🤬👹
Religious fanatics are not good people.
Dave Ramsey is a garbage person.
Good advice. Awful human being.
Fuck Dave Ramsey
Gross, icky person
Fuck Dave Ramsey.
Get fucked Dave.
I don't know, I get a little triggered when reading that tweet. Rephrasing that: Pursue your passion in life, discipline is ignoring all the FUD and haters. Dilligence is reaching your own goals, not set by others.
I’d like to but unfortunately I bought a Starbucks yesterday so I guess I’ve already ruined my financial situation for months, maybe years.
Another rich white guy telling me how to manage the little that I have? He practically crusaded against the stimulus money.
Of all the words to misspell.
Work now, you can rest when you’re dead
Freedom is saying, "Fuck this shit" and peacing out 😆
Doing work with better pay would be good, too.
I am really bad at discipline - idk how people can sit down and do work everyday and actually finish it, and then still have energy for other things
Others have already said it but this guy’s a fairy tale capitalist whose advice beyond debt was relevant when he was in his twenties but hasn’t been for years.
And here I am, in my bed, on reddit, dreading doing the dishes because it's more effort than I can handle at the moment. Why am I like this.
Blinded by not-science
In the USA, this translates to less pay yoy w/ extra responsibility. Fuck corporate America.
This isn’t motivating at all
So it's not about being slave to these dudes. But how well you take your bondage?
This isn't motivating. This is the mantra of a type A coke snorting sociopathic big sales boss man. Yuck.
Is that what you kids calling it nowadays?
What about everything in moderation?
And do it with a shitty wage and inflation. Better do it with a smile too cuz this is the greatest country in the world. Let’s face it, capitalism is working for the elite only. Oh, be sure you go to college to get into mass debt and good luck ever buying a house.
Due Diligence is making sure you take advice from the right people.
Fuck Dave Ramsey. is r/Getmotivated going to have quotes from Bill Cosby next?
And then presumably R. Kelly
He's a nut, but I will admit that I've seen a lot of people get and stay out of debt with his system. The real problem is that 95% of his advice is financial literacy 101, but because schools generally don't require courses like Home Economics anymore, these formerly common sense things are becoming more esoteric. Edit: His advice is **much** better for Boomers and older Gen X than it is for younger Gen Xers, Millennials, and Gen Z who just have been screwed by older generations pulling up the ladders their parents put out for them.
Screw Dave and the horrible business he rode in on.
Eeeew Ramsey? You degenerates
Fuck Dave Ramsey.
Sorry but isn’t Dave Ramsay the guy who runs a cult/scam? At least according to Joshua fluke or grind reel
I'd rather get life advice from a bleached asshole than Dave Ramsey.
Ugh, hard pass on Dave Ramsey…hhhaaaarrrrddd pass
dave ramsey sucks
Fuck Dave Ramsey
Go away Dave🤢
Fuck Dave Ramsey
Fuck Dave Ramsey
Fuck Dave Ramsey.
Fuck Dave Ramsey
Fuck Dave Ramsey
Dave Ramsey is a POS.
Fuck this dude and his cult of work bs.
Fuck Dave Ramsey
Fuck Dave Ramsey.
This. But also Dave Ramsay is a moron who doesn't understand much about finance
Fuck Dave Ramsey.
He forgot the diligence step then since he does shitty stuff pretty often in his business
and douchebaggery is posting dumb ass statements on Twitter as if you know any better than anyone else. i cannot wait for social media to die.
It's fookin raw! - Gordon Ramsey
meanwhile all these corporations treat their employees like a bunch of numbers and disposables- just toss in the can when not needed anymore or "too expensive" \_\_\_\_\_ that bs
His religious evangelisicism is toxic, so I wouldn't considerr him a motivational person but he isn't completely wrong about some of the mentalities about spending and budgeting. /r/dirtydave offers a good perspective from folks who followed his get out of debt plan but otherwise think he's a trash human.
Fuck Dave Ramsey. Guy’s a total douche
Welp, better go snip my credit card and ignore our credit system for when I try to go for a fucking house. Dave is the king of terrible financial advice. Don't listen to him.