Anyone heard of Dave Ramsey..total money makeover

[greenbriar]

yes he may be on a right wing radio station, but what he says makes sense.



0 credit card debt is his main mantra

if ya can't pay cash

ya don't need it!!!

[greenbriar]

1. I tried to put the book cover on

but I don't know how to add pictures

[Qanisqineq]

2. yep, I've listened to him a few times

He's pretty religious at times but he does make a heckuva lot of sense when it comes to money. I like when he tells people to just start paying off the little debts and then move on to the bigger ones and if a bill collector calls to ignore them. Or something along that line... basically saying that if you are already not paying them, what's the difference if you wait a little longer and pay off some other things first?

I don't think that made a bit of sense the way I explained it. :(

[greenbriar]

3. I bought the book

and yes he is religious but he makes total sense...



and 0 credit card debt!!!

[seabeyond]

4. i agree. learned in mid twenties

well, besides house and car. other than that, gotta pay at the end of the month, or i cut up card. hurts too much otherwise

[greenbriar]

5. he calls them baby steps

step 1: 1000.00 emergency stash...liquid but somewhere you can't just roll it to pay overdrafts, or buy that cute thing you saw that you couldn't live without. Safe deposit box ext...
Emergency only like car wreck, doctor ect...

Step 2: Debt Snowball. very detailed. but perfect sense. During this time ALL credit cards are cancelled and CUT UP

Step 3: savings total 3=6 months of income

Step 4: Pay off house and or LIVE LIKE NO ONE ELSE

[cry baby]

6. He's pretty fundy and a big * supporter.

He lives here in Nashville. His money advise makes sense, though.

[greenbriar]

7. shoot

kinda what I figured, but

yes his money advice is great.

Started it today. Less than 5 years every bill INCLUDING HOUSE paid NO CREDIT CARDS any more. Cut em up!

[seabeyond]

8. i could probably add another 500 a month

to house payment. will have to check it out and see what i get. interesting. all else is cleared. i just have to find something to invest cash in. it is just sittin there. so dont trust market. havent oh, since bush. does he say anything about investment. we are old already

[cry baby]

11. Here is his website:

http://daveramsey.com/

It looks like he does have info on investing.

[seabeyond]

12. thnak you, i will check it out

has been on my to do list the last 6 months, and i havent put the time in to study. appreciate it

[greenbriar]

14. if you have little credit card bills or doctor bills or something

pay them off first.


start with the smallest bill and work your way up to house payment.


makes so much sense and easy to do.

Within a year all our credit card debt will be gone!!! Within 5 years all our debt including our morgage is gone!!!!!!!!!!1


Imagine paying for a cruise cash every year!

yea baby

[Wcross]

15. Check this out for adding principle payments

http://www.bankrate.com/brm/rate/calc_home.asp

Use the loan payment calculator. It will tell you how much earlier you can pay off a loan by adding principle to your payment.

[seabeyond]

16. excellent you guys are inspiring me.

thank you. need to get the figures. it is a set rate. and the loan is from my father, lol. i bought his house. so i dont feel as bad that he is getting the money.

[Wcross]

18. Your father holds the note? The site will really help!

You can print up an ammortization table to show him.

[seabeyond]

21. i was figuring get hubby to look at site

and father to put in the numbers and interpret to me.

tell ya, have set up life pretty good. a whole lot i dont have to learn.

good to here. especially important, we did spend a lot of time in transaction, and have had family issues and children to raise, and all to heal, so it is time to set down, and sit it up right. with al our finances. with babies a lot of things become, later.

[cry baby]

9. You can do it! Just have to be very disciplined consumer.

Just don't listen to his politics!!!!! Or his fundy-ism!!?!!

[Sgent]

10. His money advice is very good

Esp most of his personal finance (I don't always agree with his investing stuff though).

He's helped a lot of people, and won't go wrong.

Although it is technically a ministry, think of it like a catholic hospital -- it works weather your christian or not. He can get fundy at times, but usually keeps the radio show politics free.

[Lars39]

13. Don't care for him; he's part of the right -wing lineup.

He reminds me a little too much of Dr.Laura or Dr. Phil.
Mary Hunt of Cheapskate Monthly doesn't denigrate folks,
and she paid off her debts, whereas Ramsey has gone belly-up twice.

www.cheapskatemonthly.com

[pdx_prog]

17. Yes, he is very good....

I listened to him some when I lived down south....he is in Nashville I believe. I bought some audio tapes of his and put some (not all) of his ideas to work. He does make a lot of sense....you can spend your money on whatever you want....just as long as you know where it is going.

[DancingBear]

19. Please people -stay away from this guy!

He has declared bankruptcy at least twice - and now he dispenses financial advice????

He is a sham - I can't say it any clearer than that.

on edit: My wife ("scruffy" on DU) is a CFP - if anyone has any financial questions head over to the Personal Investing Forum -she's been known to answer a question or two. :)

[DS1]

20. I use my Dad's theory

If you want something, save up enough money to buy it twice.

If you still want it after all that time, buy it. If not, :-)