Home Forums Hunting & Shooting Hunter's Campfire For all the Dave Ramsey Haters

You ain’t impressing too many here.

Doesnt have to be yours

Passed down(unfortunately not to me) to the next generation who are keeping his ways alive and all not a care in the world, financially.

This thing called ‘collateral ‘ mean anything? Unless, of course, you’re born with a silver spoon in your azzz and then you have access to all kinds of money. Other people’s money.

If you were my kids I wouldn't give you a dime either.

Ya, collateral helps. You dont need it though. Its called credit. You know, that bad debt Ramsey always talks about. EVIL!!!

Ahhh, yes, yes. That credit without collateral. Who’d a thought about that but you!!

Go back to lacing your wheaties with C-4. You were more believable then. Now,,,not so much.

I am a young guy and I don’t know why but I cannot stand the thought of owing money to someone. I’ve had two car payments in my time, got rid of one for something I could pay cash for and have cheaper insurance and kept the other until it was payed off. Right now I own 3 vehicles, all at least 15 years old, but reliable enough to get us back and forth from work and to go on a 1400mi vacation trip last month. Insurance on them runs $70 per month for all three. I do owe on our house, which bugs me, but I’m paying every bit I can afford on it and should have it payed off in less than 5 years. I try to keep some emergency money around in case I break a leg and can’t work, or like last week I find myself layed off.

I’m doing odds and ends jobs right now picking up a couple hundred here and there, waiting on the phone to ring for some good jobs I’ve applied to. I have about 3-4 months worth in my emergency fund and we’ll be fine. Now the other 18 guys who got laid off, I don’t know what their finances look like but there sure were a bunch of new pickups in the parking lot at the plant right before the layoffs. I’m betting more than one of them are sweating over how they’ll make those big car and insurance payments.

I doubt I’ll ever be wealthy monetarily, but I’ll have a roof over my head and some old beater truck that I’ll be able to knock around in. And I’ll sleep well knowing that what I have nobody can take from me.

I used to listen to Dave when I was plowing, 15-16 years ago. I think there are times when his advice isn’t for some folks, but by and large it’ll keep you out of financial trouble if not making you rich. I particularly think it’s great advice for young people just starting out who don’t really have any financial experience.

I would sure have to know a lot more than I do about this pahick than I do before taking his advice.

DONT take my advice. Seriously. I want people to live their life the way they know how. If they feel like Ramsey gets them ahead, great! If they understand credit and can use it wisely, even better! I dont want someone in debt up to their ears borrowing money and going further in debt.

I want people to think. I want people to research. I want people to realize there is good debt and bad debt. I want someone to learn how to get 250k in available credit, without collateral, and use it to gross a million in a year. Most people arent business savvy. I get it. I dont want them stuck in a rut. Thinking being debt free is the answer to all their problems. That theyll be able to retire, without worry, by paying some institution(You know, the people who make money off OTHERS money) theyre hard earned money and go nowhere. Yes, some people wont be able to handle risk. But almost everybody can handle some risk. Theyre not doing that following Ramsey.

Alright, im out.

What Ramsey says is just common sense. The thing is, many people today LACK common sense

Exactly right. The vast majority of people under 40 in my experience had very little (if any) financial education. Ramsey presents it in a way that it can be understood and applied by those people, hence the term 'baby steps'.

The problem is not just that people are uneducated, it's that if they are educated, they don't have a good understanding. I have a degree in finance (and an advanced agree in Economics), and I understand all the machinations that Pahick evangelizes about. It all works as long as the law of large numbers applies: on average, you are going to do very well.

When you are small potatoes, the law of large numbers does not apply. As long as things go as forecast, you'll do very well. No unexpected layoffs, no child with Down's, no disabilities, no accidents, floods or fires, no divorces, and things go really well.

But, when you are small potatoes, risk is binary. It's on, or off. You win or lose. It's not playing blackjack where you can beat the house, on average, if you are educated about the game, you know your odds and you keep track of the cards. It's like poker and going all-in on every hand. You can be very educated, know all the rules, odds and strategies...... but if you're dealt a crappy hand, you're going to lose. And sooner or later, you'll get a crappy hand.

All Dave Ramsey says is don't play poker, play blackjack. No guarantees, but as good an odds as you'll find in the casino of life.

BKinSD . . . just my opinion . . . but your post comes off as a bit smug.

"good growth stock mutual fund" ummm where. I asked my accountant and even put a post on this forum no one could tell me how they got wealthy or knew anyone that ever has from investing in mutual funds. I listen to dave ramsey and he has some good things to say but his advice is for the masses. I have heard him tell people to sell rental properties that have 50% equity in them. so the people could pay off their personal residence mortgage, WTF? wait till people see the value of the property they had half paid off go up 150k in 5 years, after dave told them to sell it. then we will see how great dave's advice was.

he thinks you should only pay cash for real estate. I disagree, but I still say you better darn well be careful and know what you are doing. but that is not advice everyone can handle.