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Old 04-21-2025, 11:26 AM   Topic Starter
TLO TLO is offline
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Dave Ramsey
What do you think of him/his program?

I'm trying to take my finances more seriously, and want to start paying off debt and getting my financial house in order.

Let's hear your thoughts.
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Old 04-21-2025, 11:31 AM   #2
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If you otherwise have trouble controlling your spending, his methods can be effective. That said, he goes way too far in terms of telling people to stick with cash spending and avoiding credit, in my opinion.

Creating a budget, tracking your spending, and doing some basic financial literacy training will get you what you need in most cases.
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Old 04-21-2025, 11:38 AM   #3
Sassy Squatch Sassy Squatch is offline
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If you otherwise have trouble controlling your spending, his methods can be effective. That said, he goes way too far in terms of telling people to stick with cash spending and avoiding credit, in my opinion.

Creating a budget, tracking your spending, and doing some basic financial literacy training will get you what you need in most cases.
Right. The way he'd have you do it by the time you're ready to retire and enjoy the money you'd saved up you'll be broken down and miserable. Now granted, there are a disturbingly large number of folks that really would be much better off doing what he advocates for because they don't have a single iota of financial sense.
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Old 04-21-2025, 11:51 AM   #4
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If you otherwise have trouble controlling your spending, his methods can be effective. That said, he goes way too far in terms of telling people to stick with cash spending and avoiding credit, in my opinion.

Creating a budget, tracking your spending, and doing some basic financial literacy training will get you what you need in most cases.
Yeah, I don't know a ton about him besides what you mentioned about staying away from credit cards at all cost, but seems like most people could just track spending from a spreadsheet or any number of apps and get most of the way to a Ramsey plan.
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Old 04-21-2025, 11:54 AM   #5
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Yeah, I don't know a ton about him besides what you mentioned about staying away from credit cards at all cost, but seems like most people could just track spending from a spreadsheet or any number of apps and get most of the way to a Ramsey plan.
His plan of attack to dig yourself out of debt makes sense (snowball or avalanche), but after that is where he loses me and the fact he applies his advice to every situation when it really should be applied to only the most extreme cases where they have no discipline and live way beyond the means.
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Old 04-21-2025, 11:31 AM   #6
Sassy Squatch Sassy Squatch is offline
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The plan itself makes logical sense but his advice seems incredibly outdated.
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Old 04-21-2025, 11:37 AM   #7
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I am a Ramsey guy. Budgetting, tracking your money, limit the nonsense spending, all good values. He's a little extreme in some of his methods, but a large portion of his audience are people needing some extreme methodology.
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Old 04-21-2025, 11:49 AM   #8
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Kinda basic, beginnnerish info. It's a place to start if you need to get things under control I guess
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Old 04-21-2025, 01:01 PM   #9
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Kinda basic, beginnnerish info. It's a place to start if you need to get things under control I guess
I'm not super wreckless with my money. I don't have any credit card debt. I have a reasonable car loan, a reasonable mortgage payment, and a loan for a medical procedure which was a debacle with insurance.

I don't really know that his plan is for me, or really tailored to my situation.

To me, I need to pay off the car, pay off the loan, then pay off the mortgage.
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Old 04-21-2025, 01:04 PM   #10
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I'm not super wreckless with my money. I don't have any credit card debt. I have a reasonable car loan, a reasonable mortgage payment, and a loan for a medical procedure which was a debacle with insurance.

I don't really know that his plan is for me, or really tailored to my situation.

To me, I need to pay off the car, pay off the loan, then pay off the mortgage.
You don't really seem like a good fit for Ramsey's methods to me. If the main goal is figuring out a budget and sticking to it, I've heard good things about YNAB (though I haven't used it personally).
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Old 04-21-2025, 01:06 PM   #11
Sassy Squatch Sassy Squatch is offline
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Originally Posted by TLO View Post
I'm not super wreckless with my money. I don't have any credit card debt. I have a reasonable car loan, a reasonable mortgage payment, and a loan for a medical procedure which was a debacle with insurance.

I don't really know that his plan is for me, or really tailored to my situation.

To me, I need to pay off the car, pay off the loan, then pay off the mortgage.
You're already doing his plan then, provided you have at least some sort of emergency fund.
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Old 04-21-2025, 01:40 PM   #12
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I'm not super wreckless with my money. I don't have any credit card debt. I have a reasonable car loan, a reasonable mortgage payment, and a loan for a medical procedure which was a debacle with insurance.

I don't really know that his plan is for me, or really tailored to my situation.

To me, I need to pay off the car, pay off the loan, then pay off the mortgage.
So he is probaly telling you to make a budget. 1) have a emergency fund in place of a few $1,000.00 then 2) to attack the smallest loan between the car and medical procedure. then the other. (He doess not advocate going for highest interest) 3) build a 6 month emrgency fund, 4) pay off the house while still maxing out retirment. 5) then throw everything on your retirment account.
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Old 04-21-2025, 11:55 AM   #13
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As others have said he's a little extreme. However, some people just can't control their spending and he is very helpful to those folks. However, debt isn't bad if it's understood as part of your plan.
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Old 04-21-2025, 12:14 PM   #14
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I’ve sheets understood him to be against debt but I assume that’s just common sense type debt right? Things like don’t go into debt for things like TVs, food, or luxuries? I’m assuming his program understands debt for your house, perhaps a car (though I could see him against that).
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Old 04-21-2025, 12:21 PM   #15
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I’ve sheets understood him to be against debt but I assume that’s just common sense type debt right? Things like don’t go into debt for things like TVs, food, or luxuries? I’m assuming his program understands debt for your house, perhaps a car (though I could see him against that).
He's 100% against car loans. He's not against mortgages but believes you shouldn't consider a mortgage until you're otherwise debt free, have an emergency fund, and can put 20% down.

It's not bad advice in concept, but it's just really difficult for most people.
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