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Originally Posted by Buehler445
Meh. I'm not necessarily opposed.
People that get in REAL shit such that they need Dave Ramsey are probably compulsive/addicted/some other behavior that limits their capacity to look at the thing objectively. Accordingly, Ramsey's stuff is psychological as opposed to mathematical. It is not solving for optimal returns, it's designed to eliminate failure.
Accordingly, someone that is in a mess, then they have some sort of unexpected expense, and they have to stick something on a maxed out credit card, it can kick some people out psychologically.
I don't hate it. I heard someone say once that "not having an emergency fund is an emergency" Particularly the people that can absolutely not handle credit cards or debt. Again, people that can see their situation objectively don't need Ramsey.
I didn't know the $1,000 was only for early on stuff.
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Hopefully there's just some nuance to it (it's hard to give people/plans the benefit of the doubt whenever they have Ramsey's mindset)... like setup a savings account and if possible have your company direct deposit $100 into that account each paycheck so you never even see it, then make sure to pay at least the minimum credit card payment every month, etc.
I'd argue having debt accumulating at 18-24% IS the emergency.
I mean, his method apparently works for a lot of people and I've fortunately haven't been in the situation that his clients are in to say no no no, THIS is the way... I'd just think you account for every dollar out of your paycheck and automate as much as possible so you don't even have the chance to spend it (like if you have $1k in your checking account, heh), and get crackin' on the worst debt first while also throwing just a little into savings.