Hello There, Guest! (LoginRegister)
Open TigerLinks
 

Post Reply 
Dave Ramsey
Author Message
Bookmark and Share
k2tigers Offline
Hall of Famer
*

Posts: 18,117
Joined: Feb 2004
Reputation: 953
I Root For: Memphis
Location:

Donators
Post: #21
RE: Dave Ramsey
so...............what about Suze Orman????
11-03-2014 10:58 PM
Find all posts by this user Quote this message in a reply
covingtontiger Offline
Heisman
*

Posts: 7,163
Joined: Oct 2006
Reputation: 559
I Root For: Memphis Tigers
Location: T -County

Donators
Post: #22
Dave Ramsey
I cut up my credit cards years before I ever heard of Dave Ramsey. It was a step we needed to take to gain control of our family spending. I do have a Masters, but easy credit was a trap for us. I have not had a car payment in over 20 years. I pay cash for used cars. Rather than being broke, I now have a net worth well into 7 figures. I owe nobody anything and I have no care about what my credit rating might be, because I never will borrow money again.

Dave Ramsey has organized the very approach I used to build wealth. He charges about $100 for his basic course. This is not a big cost, folks. Most Americans are awash in debt. This country is obsessed with credit cards and payment plans. If you are OK with living that way, fine. I got the Dave Ramsey course started at my church because there are lots of people drowning in debt. It is not healthy for some people who are stressed out about their debt. Dave offers a simple, common sense plan to change their financial direction. Nobody is coerced into doing this. If you are doing OK, just ignore Dave. Why criticize an approach that helps thousands of people? And, yes, his approach is supported by Scripture.


Posted from my mobile device using the CSNbbs App
11-03-2014 11:14 PM
Find all posts by this user Quote this message in a reply
Tiger1983 Offline
BBA
*

Posts: 35,184
Joined: Apr 2006
Reputation: 2033
I Root For: Tigers - GTG!
Location: The enemy’s lair

DonatorsDonatorsDonators
Post: #23
RE: Dave Ramsey
(11-03-2014 11:14 PM)covingtontiger Wrote:  I cut up my credit cards years before I ever heard of Dave Ramsey. It was a step we needed to take to gain control of our family spending. I do have a Masters, but easy credit was a trap for us. I have not had a car payment in over 20 years. I pay cash for used cars. Rather than being broke, I now have a net worth well into 7 figures. I owe nobody anything and I have no care about what my credit rating might be, because I never will borrow money again.

Dave Ramsey has organized the very approach I used to build wealth. He charges about $100 for his basic course. This is not a big cost, folks. Most Americans are awash in debt. This country is obsessed with credit cards and payment plans. If you are OK with living that way, fine. I got the Dave Ramsey course started at my church because there are lots of people drowning in debt. It is not healthy for some people who are stressed out about their debt. Dave offers a simple, common sense plan to change their financial direction. Nobody is coerced into doing this. If you are doing OK, just ignore Dave. Why criticize an approach that helps thousands of people? And, yes, his approach is supported by Scripture.


Posted from my mobile device using the CSNbbs App

I know people who have retired early, take nice trips, sent their kids to private schools, have no debt upon retirement, eat out often, possess seven figure plus net worth and yet use credit cards (paid off each month in full) and had debt for assets and education in prudent amounts.

I commend folks taking control of their finances by following Ramsey's methods. The problem I have with Ramsey is his refusal to admit there is more than one path to financial peace.
11-03-2014 11:42 PM
Find all posts by this user Quote this message in a reply
99Tiger Offline
I got tiger blood, man.
*

Posts: 15,391
Joined: Nov 2003
Reputation: 312
I Root For: football wins
Location: Orange County, CA

Crappies
Post: #24
RE: Dave Ramsey
(11-03-2014 12:23 PM)GermantownTiger Wrote:  
(11-03-2014 12:13 PM)MemTigerFan Wrote:  
(11-03-2014 11:48 AM)MemphisCanes Wrote:  
(11-03-2014 09:56 AM)supertiger Wrote:  During my years of working in finance and the car business, I made fun of his advice. He seemed short-sided and kept people in dumb little boxes...

I must admit that now I've become a daily listener. He keeps making more and more sense.

He's like an audio book of "Finance for Dummies".

I think he must assume that his audience function at about an 8th grade level.

his audience DOES function at the equivalent of an 8th grade level.

One could argue that the majority of the population operates on an 8th grade level. :)

In my professional life, I have people running public meetings; I tell them to prepare their presentations (to adults) for an 8th grade audience.
11-04-2014 07:08 AM
Find all posts by this user Quote this message in a reply
tiger2000 Offline
I Post By "Feel"

Posts: 17,524
Joined: Jan 2008
I Root For: $79.95 Boards
Location: Outer Space
Post: #25
RE: Dave Ramsey
His advice is "everyman" type advice. Not advanced by any means and some of it doesn't make sense once you reach a certain financial level.

But your average person lacks self discipline and doesn't know how to use credit - revolving or otherwise -to his or her advantage.

Some of his advice is counter to tax and insurance strategies. But your average person probably doesn't have a financial planner, CPA, and lawyer at their disposal.

All in all, I think he's doing a good thing by educating people and helping them get out of debt but when you start growing in your financial knowledge, you'll look back at some of Ramsey's advice the same way you look at your 6th grade english teacher's interpretation of classic literature after you have your masters.

I don't really fault Ramsey for making $ giving advice to people, I fault our education system for not teaching common sense financial practices. I think the country would be a lot better off if there were required basic finance classes all the way through primary education (once the required math has been taught).
(This post was last modified: 11-04-2014 08:42 AM by tiger2000.)
11-04-2014 08:41 AM
Find all posts by this user Quote this message in a reply
snowtiger Offline
Hall of Flamers
*

Posts: 33,317
Joined: Mar 2011
Reputation: 3707
I Root For: W's!!!
Location: Cascade Volcanic Arc
Post: #26
RE: Dave Ramsey
Remember 5th grade...the income/outgo column budget teacher had us make. You couldn't pretend spend more than you pretend made or you failed the homework assignment. Pretty simple.

Some folks get pulled in by the CC transfer offers promising 0% till they can't keep up. Other folks work that. *shrug*
11-04-2014 08:56 AM
Find all posts by this user Quote this message in a reply
Tygrys Offline
Heisman
*

Posts: 7,115
Joined: Jan 2013
Reputation: 166
I Root For: Memphis
Location:
Post: #27
RE: Dave Ramsey
(11-03-2014 04:41 PM)Tiger1983 Wrote:  Ramsey's methods are generally sound for the general public IMO, but his refusal to acknowledge the positives of credit card use irks me. Yes, credit card use - like fire or other useful but potentially dangerous thing - should be carefully considered. However, credit cards are a wonderful way to obtain free perks and interest free float. I have paid for vacations and better managed cash flow due to credit cards. The key is to always pay the balance off monthly and treat it like cash.

CC can be used as great assets as you mentioned. Unfortunately, the majority of people just seem to really struggle using them responsibly. However, if you can be disciplined, they are a fantastic asset. I use a GM card for everything I buy instead of a debit card. I have been doing this for about 3 or 4 years. I get 5% back on every purchase. The "cash back" can be used for the purchase of any GM, Chevy, Cadillac, etc. brand car. Those rewards are going to essentially pay for 90-95% of my new truck, and the best part is that CC reward money/points are still not being taxed as income.
11-04-2014 09:17 AM
Find all posts by this user Quote this message in a reply
tiger2000 Offline
I Post By "Feel"

Posts: 17,524
Joined: Jan 2008
I Root For: $79.95 Boards
Location: Outer Space
Post: #28
RE: Dave Ramsey
(11-04-2014 09:17 AM)Tygrys Wrote:  
(11-03-2014 04:41 PM)Tiger1983 Wrote:  Ramsey's methods are generally sound for the general public IMO, but his refusal to acknowledge the positives of credit card use irks me. Yes, credit card use - like fire or other useful but potentially dangerous thing - should be carefully considered. However, credit cards are a wonderful way to obtain free perks and interest free float. I have paid for vacations and better managed cash flow due to credit cards. The key is to always pay the balance off monthly and treat it like cash.

CC can be used as great assets as you mentioned. Unfortunately, the majority of people just seem to really struggle using them responsibly. However, if you can be disciplined, they are a fantastic asset. I use a GM card for everything I buy instead of a debit card. I have been doing this for about 3 or 4 years. I get 5% back on every purchase. The "cash back" can be used for the purchase of any GM, Chevy, Cadillac, etc. brand car. Those rewards are going to essentially pay for 90-95% of my new truck, and the best part is that CC reward money/points are still not being taxed as income.

We use cash back, airline miles, etc. We pay our CCs off every month and the cars have been paid for for year and years. We don't do debt unless it provides us a positive net gain.

When we buy furniture, we usually find 0% offers - we have the cash to pay for it but instead put that $ in an interest bearing account. Hard not to use free $ when it's offered.
11-04-2014 09:22 AM
Find all posts by this user Quote this message in a reply
BinghamptonNed Offline
Hall of Famer
*

Posts: 23,079
Joined: Mar 2004
Reputation: 872
I Root For: Memphis
Location: Germantown
Post: #29
RE: Dave Ramsey
(11-04-2014 09:22 AM)tiger2000 Wrote:  
(11-04-2014 09:17 AM)Tygrys Wrote:  
(11-03-2014 04:41 PM)Tiger1983 Wrote:  Ramsey's methods are generally sound for the general public IMO, but his refusal to acknowledge the positives of credit card use irks me. Yes, credit card use - like fire or other useful but potentially dangerous thing - should be carefully considered. However, credit cards are a wonderful way to obtain free perks and interest free float. I have paid for vacations and better managed cash flow due to credit cards. The key is to always pay the balance off monthly and treat it like cash.

CC can be used as great assets as you mentioned. Unfortunately, the majority of people just seem to really struggle using them responsibly. However, if you can be disciplined, they are a fantastic asset. I use a GM card for everything I buy instead of a debit card. I have been doing this for about 3 or 4 years. I get 5% back on every purchase. The "cash back" can be used for the purchase of any GM, Chevy, Cadillac, etc. brand car. Those rewards are going to essentially pay for 90-95% of my new truck, and the best part is that CC reward money/points are still not being taxed as income.

We use cash back, airline miles, etc. We pay our CCs off every month and the cars have been paid for for year and years. We don't do debt unless it provides us a positive net gain.

When we buy furniture, we usually find 0% offers - we have the cash to pay for it but instead put that $ in an interest bearing account. Hard not to use free $ when it's offered.

usually, when 0% financing is offered you can get a discount if you pay cash. (by cash i mean cash, check or credit card) , you have to ask, sometimes you have to ask a manager.

if you are getting a good enough return on your interest bearing account to make it worth your time to go through the process of applying for and paying back a loan , I would love to know where you are getting this rate of return.03-idea
11-04-2014 09:36 AM
Find all posts by this user Quote this message in a reply
tiger2000 Offline
I Post By "Feel"

Posts: 17,524
Joined: Jan 2008
I Root For: $79.95 Boards
Location: Outer Space
Post: #30
RE: Dave Ramsey
(11-04-2014 09:36 AM)BinghamptonNed Wrote:  
(11-04-2014 09:22 AM)tiger2000 Wrote:  
(11-04-2014 09:17 AM)Tygrys Wrote:  
(11-03-2014 04:41 PM)Tiger1983 Wrote:  Ramsey's methods are generally sound for the general public IMO, but his refusal to acknowledge the positives of credit card use irks me. Yes, credit card use - like fire or other useful but potentially dangerous thing - should be carefully considered. However, credit cards are a wonderful way to obtain free perks and interest free float. I have paid for vacations and better managed cash flow due to credit cards. The key is to always pay the balance off monthly and treat it like cash.

CC can be used as great assets as you mentioned. Unfortunately, the majority of people just seem to really struggle using them responsibly. However, if you can be disciplined, they are a fantastic asset. I use a GM card for everything I buy instead of a debit card. I have been doing this for about 3 or 4 years. I get 5% back on every purchase. The "cash back" can be used for the purchase of any GM, Chevy, Cadillac, etc. brand car. Those rewards are going to essentially pay for 90-95% of my new truck, and the best part is that CC reward money/points are still not being taxed as income.

We use cash back, airline miles, etc. We pay our CCs off every month and the cars have been paid for for year and years. We don't do debt unless it provides us a positive net gain.

When we buy furniture, we usually find 0% offers - we have the cash to pay for it but instead put that $ in an interest bearing account. Hard not to use free $ when it's offered.

usually, when 0% financing is offered you can get a discount if you pay cash. (by cash i mean cash, check or credit card) , you have to ask, sometimes you have to ask a manager.

if you are getting a good enough return on your interest bearing account to make it worth your time to go through the process of applying for and paying back a loan , I would love to know where you are getting this rate of return.03-idea

We have paid cash when discount is available. I have no idea what you mean by "make it worth your time to apply for a loan." It takes like 10 minutes and the draft is automated monthly - we have plenty of cash to pay it off at any time.

I will say that the woman and I are very blessed in life - we both made very good financial and career decisions over the years before we decided to share things. Her having a masters in finance and CFP doesn't hurt 03-wink but it does suck that I have to report trades in many accounts that I've held for years to her company's compliance department.
11-04-2014 10:05 AM
Find all posts by this user Quote this message in a reply
Tiger1983 Offline
BBA
*

Posts: 35,184
Joined: Apr 2006
Reputation: 2033
I Root For: Tigers - GTG!
Location: The enemy’s lair

DonatorsDonatorsDonators
Post: #31
RE: Dave Ramsey
(11-04-2014 09:17 AM)Tygrys Wrote:  
(11-03-2014 04:41 PM)Tiger1983 Wrote:  Ramsey's methods are generally sound for the general public IMO, but his refusal to acknowledge the positives of credit card use irks me. Yes, credit card use - like fire or other useful but potentially dangerous thing - should be carefully considered. However, credit cards are a wonderful way to obtain free perks and interest free float. I have paid for vacations and better managed cash flow due to credit cards. The key is to always pay the balance off monthly and treat it like cash.

CC can be used as great assets as you mentioned. Unfortunately, the majority of people just seem to really struggle using them responsibly. However, if you can be disciplined, they are a fantastic asset. I use a GM card for everything I buy instead of a debit card. I have been doing this for about 3 or 4 years. I get 5% back on every purchase. The "cash back" can be used for the purchase of any GM, Chevy, Cadillac, etc. brand car. Those rewards are going to essentially pay for 90-95% of my new truck, and the best part is that CC reward money/points are still not being taxed as income.

I used the same credit card as you for many years. About 10 years or so ago I bought a brand new Chevy Prism for around $4k after a $5K credit card reward, bargaining, rebates, and trade in. I financed it with a zero interest loan (for 90 days I think) but paid it off before the interest hit. It was a perfect storm that I could not replicate 7 years later when I replaced it with a Honda Fit.
11-04-2014 10:26 AM
Find all posts by this user Quote this message in a reply
oldmangrizz Offline
Hall of Famer
*

Posts: 10,733
Joined: Mar 2005
Reputation: 800
I Root For: free love
Location: The Road To Nowhere
Post: #32
RE: Dave Ramsey
I thought he was the guy that played the organ at the old Tim McCarver ball stadium. I guess you can't make enough money to retire just by playing with your organ.
11-04-2014 10:28 AM
Find all posts by this user Quote this message in a reply
Tiger1983 Offline
BBA
*

Posts: 35,184
Joined: Apr 2006
Reputation: 2033
I Root For: Tigers - GTG!
Location: The enemy’s lair

DonatorsDonatorsDonators
Post: #33
RE: Dave Ramsey
(11-04-2014 08:56 AM)snowtiger Wrote:  Remember 5th grade...the income/outgo column budget teacher had us make. You couldn't pretend spend more than you pretend made or you failed the homework assignment. Pretty simple.

Some folks get pulled in by the CC transfer offers promising 0% till they can't keep up. Other folks work that. *shrug*

My kid's school required a Ramsey course and I thought it was time well spent.
11-04-2014 10:30 AM
Find all posts by this user Quote this message in a reply
dan o Offline
Hall of Famer
*

Posts: 15,459
Joined: Sep 2005
Reputation: 437
I Root For: Tigers
Location: Southaven
Post: #34
RE: Dave Ramsey
(11-03-2014 10:58 PM)k2tigers Wrote:  so...............what about Suze Orman????

I'd hit it
11-04-2014 11:39 AM
Find all posts by this user Quote this message in a reply
tiger2000 Offline
I Post By "Feel"

Posts: 17,524
Joined: Jan 2008
I Root For: $79.95 Boards
Location: Outer Space
Post: #35
RE: Dave Ramsey
(11-04-2014 11:39 AM)dan o Wrote:  
(11-03-2014 10:58 PM)k2tigers Wrote:  so...............what about Suze Orman????

I'd hit it

good luck. she is gay. In a recent interview she claimed to have never slept with a man in her life.
11-04-2014 11:55 AM
Find all posts by this user Quote this message in a reply
Willie Becton Offline
Hall of Famer
*

Posts: 13,745
Joined: Dec 2009
Reputation: 535
I Root For: Fair Play.
Location: AWAY FROM THE GHETTO
Post: #36
RE: Dave Ramsey
(11-04-2014 11:55 AM)tiger2000 Wrote:  
(11-04-2014 11:39 AM)dan o Wrote:  
(11-03-2014 10:58 PM)k2tigers Wrote:  so...............what about Suze Orman????

I'd hit it

good luck. she is gay. In a recent interview she claimed to have never slept with a man in her life.

dan o can turn her back.
they have classes for that too
11-04-2014 02:32 PM
Find all posts by this user Quote this message in a reply
Tiger46 Offline
Hall of Famer
*

Posts: 24,645
Joined: Feb 2004
Reputation: 316
I Root For: Tigers
Location: Colleyville, TX
Post: #37
RE: Dave Ramsey
(11-04-2014 10:30 AM)Tiger1983 Wrote:  
(11-04-2014 08:56 AM)snowtiger Wrote:  Remember 5th grade...the income/outgo column budget teacher had us make. You couldn't pretend spend more than you pretend made or you failed the homework assignment. Pretty simple.

Some folks get pulled in by the CC transfer offers promising 0% till they can't keep up. Other folks work that. *shrug*

My kid's school required a Ramsey course and I thought it was time well spent.

Now that is a good idea, to teach a course like that in school.
11-04-2014 05:12 PM
Find all posts by this user Quote this message in a reply
Tiger46 Offline
Hall of Famer
*

Posts: 24,645
Joined: Feb 2004
Reputation: 316
I Root For: Tigers
Location: Colleyville, TX
Post: #38
RE: Dave Ramsey
(11-04-2014 11:55 AM)tiger2000 Wrote:  
(11-04-2014 11:39 AM)dan o Wrote:  
(11-03-2014 10:58 PM)k2tigers Wrote:  so...............what about Suze Orman????

I'd hit it

good luck. she is gay. In a recent interview she claimed to have never slept with a man in her life.

She's not done yet.
11-04-2014 05:13 PM
Find all posts by this user Quote this message in a reply
Willie Becton Offline
Hall of Famer
*

Posts: 13,745
Joined: Dec 2009
Reputation: 535
I Root For: Fair Play.
Location: AWAY FROM THE GHETTO
Post: #39
RE: Dave Ramsey
(11-04-2014 05:12 PM)Tiger46 Wrote:  
(11-04-2014 10:30 AM)Tiger1983 Wrote:  
(11-04-2014 08:56 AM)snowtiger Wrote:  Remember 5th grade...the income/outgo column budget teacher had us make. You couldn't pretend spend more than you pretend made or you failed the homework assignment. Pretty simple.

Some folks get pulled in by the CC transfer offers promising 0% till they can't keep up. Other folks work that. *shrug*

My kid's school required a Ramsey course and I thought it was time well spent.

Now that is a good idea, to teach a course like that in school.

yep
financial literacy is probably a touch more important than Chaucer these days, I'd say.

Just my opinion
11-04-2014 05:29 PM
Find all posts by this user Quote this message in a reply
3601 Offline
HoopDreams' Daddy
*

Posts: 26,908
Joined: Mar 2004
Reputation: 371
I Root For: Omar Sneed
Location: Mempho
Post: #40
RE: Dave Ramsey
I think the guy is a turd.
11-05-2014 05:23 PM
Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Copyright © 2002-2024 Collegiate Sports Nation Bulletin Board System (CSNbbs), All Rights Reserved.
CSNbbs is an independent fan site and is in no way affiliated to the NCAA or any of the schools and conferences it represents.
This site monetizes links. FTC Disclosure.
We allow third-party companies to serve ads and/or collect certain anonymous information when you visit our web site. These companies may use non-personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to this and other Web sites in order to provide advertisements about goods and services likely to be of greater interest to you. These companies typically use a cookie or third party web beacon to collect this information. To learn more about this behavioral advertising practice or to opt-out of this type of advertising, you can visit http://www.networkadvertising.org.
Powered By MyBB, © 2002-2024 MyBB Group.
MemphisTigers.org is the number one message board for Memphis Tigers sports.