Dave Ramsey and Vacation

[TnTWalter]

was it $40K in a year?? Is that you? I listened to that call on a power walk and though WOOOHOOO. You should have said the DIS Budget Board helped, girl. LOL....Awesome!!

Trish

 

[rockin_rep]

However, a personal financial advisor would do exactlythe same thing...take your money, pay your debts and give you a very strict allowance for needs (no wants).

As an aside (and i hope no one minds me asking here?) but how do you find a financial advisor? I think we may have reached that point (college expenses PUSHED us there ) but since we've never had one, i'm clueless where to begin.

OR, will y'all say just buy DR's books (which i think i'm going to do anyway!)

PS ~ TIA for all the wonderful wisdom ALL of you give me EVERY time i log on to this site! DISSERS are the BEST!!!!!

 

[KristinU]

was it $40K in a year?? Is that you? I listened to that call on a power walk and though WOOOHOOO. You should have said the DIS Budget Board helped, girl. LOL....Awesome!!

Trish

Thanks Trish! I think there were two Kristins on Friday - ours was $34k paid off. And I really do have the DIS to thank - I learned about DR from this board!

RockinRep - I'd recommend picking up a copy of Total Money Makeover or Financial Peace Revisited from the library (I like TMMO's pace a little better, though). You could also look for a Financial Peace University class in your area - you just plug in your zip code at daveramsey.com and you'll see a list of upcoming class dates and locations.

 

[skater]

Is the budget board always this judgemental. I think the OP was just asking what DR's opinon was - not for your judgement.

 

[rockin_rep]

RockinRep - I'd recommend picking up a copy of Total Money Makeover or Financial Peace Revisited from the library (I like TMMO's pace a little better, though). You could also look for a Financial Peace University class in your area - you just plug in your zip code at daveramsey.com and you'll see a list of upcoming class dates and locations.

Thank you Kristin! I'm going to get one or both tonight.

So do you think the books are as good as a financial advisor? I would much rather 'do it myself' rather than pay someone else -- if possible!!!???

 

[perdidobay]

Well...we just called Dave's show this past Friday and shouted "WE'RE DEBT FREE!!!" And did it by cutting back to just about nothing - and part of that was cancelling a WDW trip for this fall and renting out DVC points (yeah, yeah, I know Dave would have us selling it...but we were comfortable renting out points and keeping it since we'd just buy back in when we were out of debt).

I'm glad you are debt free... but...
too bad Dave thinks ALL timeshares are trash and you have to beg
someone and/or pay them, he says, to take 'em off your hands.
He'd be the first to call you stupid for keeping DVC.
His plan is fine for people with no self control, but he is so arrogant about things he doesn't know anything about.
I used to enjoy his show but he's become all about $$$, for him, that is.
Over the years more and more time on his show is about buy my materials.
I find it hard to consider what has become a 3 hour informercial about Financial Peace products a "ministry".

Let's see... if I sold my DVC today..... I'd MAKE money over what I paid 6 years ago.

 

[goinback]

OY VEY! Did not mean to start a debate!!!!!!!! Can I take back my question? But I do have another one.....when DR gives advice to cut up credit cards, does he mean to just not use them or cancel them altogether?

 

[TnTWalter]

OY VEY! Did not mean to start a debate!!!!!!!! Can I take back my question? But I do have another one.....when DR gives advice to cut up credit cards, does he mean to just not use them or cancel them altogether?

He would say cancel them. Nowadays you can get Debit visas with points and security and everything.

I'm glad you are debt free... but...
too bad Dave thinks ALL timeshares are trash and you have to beg
someone and/or pay them, he says, to take 'em off your hands.
He'd be the first to call you stupid for keeping DVC.
His plan is fine for people with no self control, but he is so arrogant about things he doesn't know anything about.
I used to enjoy his show but he's become all about $$$, for him, that is.
Over the years more and more time on his show is about buy my materials.
I find it hard to consider what has become a 3 hour informercial about Financial Peace products a "ministry".

Perdidobay....your post is annoying to me...why are you replying or even bothering to read all our posts since we must all have no self control? What could you possibly gain? I'm glad your way is working for you, but why post on a thread asking for DAVE RAMSEY's advice, not Perdidobay's.

Feel free to start your OWN post about ...hmmm... I don't know.... "Why I think Dave Ramsey is an idiot...and how I made Millions MY WAY". Then we can all read your thread. Thanks.

Trish

 

[princessofcandles]

* About cutting up credit cards. He says cut and close. On this one hubby was realllllly nervous so we compromised. We each have one each (our own names) but dropped the limit to $1000 on each and don't hold a balance. We actually do lots of trips, especially little weekenders, so booking hotels and car rentals can be a hassel with debt cards cuz they'll put holds on everything. Plus I like that the credit cards are NOT connected to our bank accounts. I will usually leave the debt cards at home on trips so if something were to happen (ie theft, fraud, etc) it isn't a direct hit into our liquid assessts.

Now.... great budget tip and DR tip..... The ultimate garage sale. The first thing I did was get hubby and go through the garage. We actually use our garage to house our cars (around here it is usually used to hold crap). We took out our cars and cleaned the garage and then that was the designated Garage Sale Storage Unit. Then we started filling it, and pricing along the way, by going room to room and getting rid of all the extra stuff. Clothes, nick-naks, furniture, etc. Really downsized on extra plates, missmatched chairs, and such. Now our house is clutter free, which makes it much more relaxing, and we had a huge garage sale. Hubby had an extra car he didn't use but didn't want to get rid of but he agreed it was an "extra". In return I cleared out 90% of my craft room for the sale.

Its a good kick start to any budget. What doesn't sell goes to Goodwill and is NOT allowed back in the house. Then you gotta follow it with taking something out when you bring something in. If you're gonna buy a new outfit you got to get rid of an outfit. I am a shoe ***** (can I say that here?) so hubby put in a shoe rack that holds 20 shoes. Thats my limit. If I wanna buy shoes I gotta get rid of some.

 

[TnTWalter]

We had the garage sale to jumpstart our baby EF....we earned almost all of it...it was great!!

My thoughts on the credit card issue....The average consumer spends 37% MORE using credit than CASH and most people who are IN DEBT have issues with spending more than they make and credit cards make this easy. I believe that's why Dave teaches 'cash only' in the beginning and then debit card for some purcahses once you gain control of your budget.

Nowadays, debit cards come with MC or Visa and all the safety, etc. so they are just as good. People who shop at stores that give extra % for this credit card or that and pay it off every month, etc. Well good for them and I hope they don't have a bad month and come short and then next month....yikes 21% interest. There goes that 'savings'. Credit cards are banking on that one slip up and they're getting rich from all those who 'work the system'.

I am not going to claim we did everything exactly as he says. But I still think as close as you come to the plan, the better off you are.

Trish

 

[perdidobay]

He would say cancel them. Nowadays you can get Debit visas with points and security and everything.

I'm glad you are debt free... but...
too bad Dave thinks ALL timeshares are trash and you have to beg
someone and/or pay them, he says, to take 'em off your hands.
He'd be the first to call you stupid for keeping DVC.
His plan is fine for people with no self control, but he is so arrogant about things he doesn't know anything about.
I used to enjoy his show but he's become all about $$$, for him, that is.
Over the years more and more time on his show is about buy my materials.
I find it hard to consider what has become a 3 hour informercial about Financial Peace products a "ministry".

Perdidobay....your post is annoying to me...why are you replying or even bothering to read all our posts since we must all have no self control? What could you possibly gain? I'm glad your way is working for you, but why post on a thread asking for DAVE RAMSEY's advice, not Perdidobay's.

Feel free to start your OWN post about ...hmmm... I don't know.... "Why I think Dave Ramsey is an idiot...and how I made Millions MY WAY". Then we can all read your thread. Thanks.

Trish

I never said Dave was an idiot, and really, think about it, MOST people could live within their means IF they would control their spending. Some either don't plan or just don't WANT to live within their means. To me that's a lack of self control. Some people have things financially happen beyond their control, I know. That's different.
After all Dave himself says his advice is just common sense. I don't know anyone's situation and don't pretend to.

I still hold the opinion he is arrogant and makes blanket statements about some things that are not true.

MY DH and I started out with a bed and dresser and lived in my sister's spare bedroom for 2 months when we were first married 32 years ago.
We were never given anything but that all these years, but by working overtime and overtime and overtime, living below our means and saving all these years we have made our millions. That's all...nothing really worth a new thread for.

Sorry you were annoyed by my post. I was replying to KristinU's post about keeping DVC and I lost control, as often happens when I think about Dave Ramsey.
My apologies.....

 

[perdidobay]

My thoughts on the credit card issue....The average consumer spends 37% MORE using credit than CASH and most people who are IN DEBT have issues with spending more than they make and credit cards make this easy.
Trish

Your quote about spending more with credit is right on but the numbers seemed high to me so I checked Dave's website....

Cash vs. Credit Cards
When you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. If you use credit cards instead of cash you will spend 12-18% more. This is money you could have saved.


It's still alot! Keep up the good work becoming debt free.

 

[DiznEeyore]

Is the budget board always this judgemental. I think the OP was just asking what DR's opinon was - not for your judgement.

Not "always". Just "often".

 

[jodifla]

Your quote about spending more with credit is right on but the numbers seemed high to me so I checked Dave's website....

Cash vs. Credit Cards
When you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. If you use credit cards instead of cash you will spend 12-18% more. This is money you could have saved.


It's still alot! Keep up the good work becoming debt free.

Of course the problem is if you pay cash, you are OUT OF LUCK if something goes wrong. With a CC, you can dispute payment.

I'm pretty surprised anyone would advocate getting rid of all their CCs. It's a good way to leave yourself very vulnerable in a lot of situations.

Edited to add: I know the poster I was quoting wasn't advocating getting rid of all cards, but others have talked about this being David Ramsey's theory.

 

[TnTWalter]

Your quote about spending more with credit is right on but the numbers seemed high to me so I checked Dave's website....

Cash vs. Credit Cards
When you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. If you use credit cards instead of cash you will spend 12-18% more. This is money you could have saved.


It's still alot! Keep up the good work becoming debt free.

I meant to check the number...37% was stuck in my head....

Here's a paragraph from his site:

Dunn and Bradstreet say that spending cash hurts and registers psychologically. They also did a study proving that people who spend with plastic, even disciplined and responsible people, spend 12%-18% more. Those same people spend 37% more when using plastic at a fast food restaurant and 78% more at a vending machine.

Based on how you built wealth, sounds like you have more in common with DR than you think. LOL....

But when you post....
Sorry you were annoyed by my post. I was replying to KristinU's post about keeping DVC and I lost control, as often happens when I think about Dave Ramsey.

This goes back to my original question...why respond on a THREAD that OBVIOUSLY AGREES with Dave Ramsey [the OP is FOLLOWING TMMO]. That's where I have issue with your posts. They are HOSTILE in tone against DR and those that follow his plan [remember 'no self control' and I think crisi wrote 'what little respect I have for him' for example]. This is where I have issue. These posts are just to 'stir the pot' in my opinion, not really useful FOR THIS DISCUSSION. In another post that has a more generic question, your views and life experiences would be useful. I'm done wasting energy on this. Peace!

And by the way I AM DEBT FREE. Thanks.

 

[KristinU]

Thank you Kristin! I'm going to get one or both tonight.

So do you think the books are as good as a financial advisor? I would much rather 'do it myself' rather than pay someone else -- if possible!!!???

I can't say one way or the other because we didn't use a financial advisor, but following the DR plan (just about to a T) has been working wonderfully for us. There is a great forum (unofficial, much like the DIS) for following the DR plan at www.llnoe.com - hop on over! I actually lurked there a bit before reading TMMO and jumping in.

 

[kjetjl]

We are debt free (except mortgage) as a result of following DR plan. We have had debt hanging over us for over 14 + years. Although, I must admit we canceled all but one cc. We don't feel comfortable using debit for online purchases and when hubby travels out of state. As we continue to follow his plan, that may change as I DID NOT AGREE with much that man had to say at first. My husband came home all excited and I was like, WHAT???

For me, it was about changing some really bad spending habits and ideas that I deserved anything. I have 6 kids and I DESERVED that expensive feel good coffee. I DESERVED a massage or an expensive dinner. But really all I was doing was making myself more stressed out by not living within our means.

Finally, I agreed to just TRY it for a few months. It was VERY tough at first but I gave myself a goal-a Disney trip when we had an EF and paid of all debt but the mortgage!! Boy, it feels good to be going to Disney (all paid with cash upfront!!!)

I never would have believed we could have done it and there were times I just wanted to give up and fudge or say something condescending about him but DR does help people. Not all people. And I am so thankful!!!

Good luck to the OP and to all those on the plan.

How am I doing? BETTER THAN I DESERVE!

 

[mickeyfan2]

We are debt free (except mortgage) as a result of following DR plan. We have had debt hanging over us for over 14 + years. Although, I must admit we canceled all but one cc. We don't feel comfortable using debit for online purchases and when hubby travels out of state. As we continue to follow his plan, that may change as I DID NOT AGREE with much that man had to say at first. My husband came home all excited and I was like, WHAT???

For me, it was about changing some really bad spending habits and ideas that I deserved anything. I have 6 kids and I DESERVED that expensive feel good coffee. I DESERVED a massage or an expensive dinner. But really all I was doing was making myself more stressed out by not living within our means.

Finally, I agreed to just TRY it for a few months. It was VERY tough at first but I gave myself a goal-a Disney trip when we had an EF and paid of all debt but the mortgage!! Boy, it feels good to be going to Disney (all paid with cash upfront!!!)

I never would have believed we could have done it and there were times I just wanted to give up and fudge or say something condescending about him but DR does help people. Not all people. And I am so thankful!!!

Good luck to the OP and to all those on the plan.

How am I doing? BETTER THAN I DESERVE!

 

[crisi]

This goes back to my original question...why respond on a THREAD that OBVIOUSLY AGREES with Dave Ramsey [the OP is FOLLOWING TMMO]. That's where I have issue with your posts. They are HOSTILE in tone against DR and those that follow his plan [remember 'no self control' and I think crisi wrote 'what little respect I have for him' for example]. This is where I have issue. These posts are just to 'stir the pot' in my opinion, not really useful FOR THIS DISCUSSION. In another post that has a more generic question, your views and life experiences would be useful. I'm done wasting energy on this. Peace!

Because I felt jwann was misrepresenting Ramsey's plan. I didn't think that was fair to Dave Ramsey. I may not like his plan (which can be great for some people, but which I think is too strict. I sincerely congratulate people who have had success with his plan and I'm sincerely happy that it did work for you) and I may not have a lot of respect for him (which has nothing to do with his plan), but I don't like to see someone misrepresent information.

 

[perdidobay]

Of course the problem is if you pay cash, you are OUT OF LUCK if something goes wrong. With a CC, you can dispute payment.

I'm pretty surprised anyone would advocate getting rid of all their CCs. It's a good way to leave yourself very vulnerable in a lot of situations.

Edited to add: I know the poster I was quoting wasn't advocating getting rid of all cards, but others have talked about this being David Ramsey's theory.

How about debit cards? I don't have any debit cards, but I was assuming that if they were Visa or Mastercard ones, wouldn't they have a protection plan like their credit cards?