Dave Ramsey: like or dislike?

[LisaR]

I was reading another thread on here and was surprised to see how many people dislike Dave Ramsey. I first heard of him on the budget boards and many there seem to worship him. From what I have gleamed, he believes in being debt free and only purchasing things you can pay cash for. I agree with that philosophy so I assume I would like the guy. That is really all I know about him. For the record, I own one of his books but I have never actually read it.

I am just curious what you like/dislike about Dave Ramsey?

 

[Dax]

I like what he stands for...I am using the Dave Ramsey plan myself, though modified a bit to fit the needs of DH and I...he is against a lot of things while getting out of debt, and well, I cannot live my life like that...but I do agree with a lot of his teachings.

 

[*pixie*dust*]

Some people may be uncomfortable with Dave Ramsey because he is also quite religious. Depending on your personal beliefs, that may be a difficulty.

 

[kristilew]

Love his financial advice and insights. Totally agree with his Biblical principles Hate his political rants.

 

[dawson5]

He's infectious. If you have ever listened to him, he gets you pumped for saving money. I like that about him. Also the people who call in with problems, he gives them hope that they can find a way out of the mess they are in with a plan. Sometimes that is all you need.

 

[Sparx]

I think most of his plan is just common sense, only buy what you can afford if at all possible. I just hate the way he speaks. He always sounds so condescending to me.

 

[ICF]

I don't like him, but appreciate the fact that he tries to get people out of debt. What he preaches is simply common sense. If you can't afford something, you shouldnt buy it. Well duh?!?!?! Wish I had thought of that....I could have been the one making millions off of other people?!?!?

I do like to chuckle when he claims that credit cards and such are so bad. Which is 100% wrong, assuming you have self control to use them as a responsible adult and dont overspend with it. I've saved $1000's with CC's and never have paid annual fees or interest on them.

If he works for people, that's great....but he's no financial savior, unless you didnt know that spending more than you can afford would be a bad thing.

 

[allison443]

I don't like him, but appreciate the fact that he trys to get people out of debt. What he preaches is simply common sense. If you can't afford something, you shouldnt buy it. Well duh?!?!?! Wish I had thought of that....I could have been the one making millions off of other people?!?!?

I do like to chuckle when he claims that credit cards and such are so bad. Which is 100% wrong, assuming you have self control to use them as a responsible adult and dont overspend with it. I've saved $1000's with CC's and never have paid annual fees or interest on them.

If he works for people, that's great....but he's no financial savior, unless you didnt know that spending more than you can afford would be a bad thing.

I agree with this.

 

[sbell111]

My wife and I have actually had a couple conversations about him. The most recent one was about a week ago because we happened to take a look at the house next door to his, since we are in the market. My wife liked his house, which was the limit of her interest in the conversation.

I actually like the basic message that he gives people. While I would tweak his plan slightly to make it a bit more effective, I understand why he doesn't. His way sends a simpler message that is easier for people to follow, thereby increasing their eventual chances of success.

What I do not like about his presentation is the fact that he is constantly pushing his religious and political views. I think that he would help more people if he didn't bang these drums as frequently or as hard. Instead, he likely chases away many that he could otherwise help.

 

[Pigeon]

I'm an atheist, so his religious tone makes me gag.

I can see that his advice could be useful for some people who can't responsibly live within their means and use credit wisely.

But some of his advice doesn't make good financial sense. It's dumb not to pay off the debt with the highest interest rate first, for example. I understand the psychology behind what he espouses, but I'm not sure that I believe that it wouldn't be just as motivational to pay down the highest interest debt first as to pay off the smallest.

The cash envelope system would never work for me. I don't like to carry much cash or have more than a small amount of cash in my home. I don't think it's safe or sensible.

Credit per se is not evil. If you pay them off every month, credit cards are fine. Having a modest mortgage or a modest car loan that you can comfortably pay off is not evil.

Living beyond your means and getting in debt over your head is terrible. But that doesn't mean that you should never use credit at all.

But I'm not his target audience. If he works for some people, that's fine with me. If you know how to manage your finances anyway, I don't agree with all his advice.

 

[Angelhalo]

My husband loves him and seems to think he's a genius. I think he comes off sounding like a jerk a lot of the time. Very uppity sounding. I don't mind the religious overtones as I am a Christian. And, I don't think he needs to change that at all, it is who he is and that's his angle. Thats like if you told a dentist to stop talking about teeth. But, I don't like the political rants, as I also happen to be pretty liberal. Yes Virginia, Christian liberals DO exist!

 

[The Mystery Machine]

Some people may be uncomfortable with Dave Ramsey because he is also quite religious. Depending on your personal beliefs, that may be a difficult.

Yep.

 

[LisaR]

Thanks for all the responses. I am glad I never opened his book. I can tell I would not appreciate his religious views. I never knew he was like that. Like someone else noted, from what I have heard, he talks about common sense things (don't have enough money? don't buy it). I didn't understand why so many people were saying they disliked him in that other thread but now I get it.

 

[wdwfan16]

Honestly the things he professes are things I figured out as a teen. I did the envelope system from the day we got married. We were on a cash basis then.

He is a great motivator for some and that is a good thing.

He is a horrible financial advisor type and this is a bad thing.

I have heard him on the radio and seen him on TV. I find him annoying after a while and turn him off.

I love the lady on the TV show "Til Debt Do Us Part".

 

[eliza61]

I'm not a fan or a hater. I lump Dave in with all the rest of the self help gurus.

1) First and foremost, Dave is a business. His #1 goal is to sell books and tv ad time. Ditto with Suzie, Oprah and Phil. while they do have great general advice, they ain't in this game just to hand out advice.

2) He's not a financial planner and most of his advice his pretty much common sense, which I admit is lacking these days.

3) He uses his show as a platform for his religious and political views, which is totally cool. I mean his show, he can talk about whatever he wants but I think he should be more upfront about it. I've already have a spiritual advisor, thank you very much.

 

[FlightlessDuck]

Never heard of the guy. Before I read the thread, I assumed he was a food critic or something.

 

[SaraJayne]

I can see that his advice could be useful for some people who can't responsibly live within their means and use credit wisely.

But some of his advice doesn't make good financial sense. It's dumb not to pay off the debt with the highest interest rate first, for example. I understand the psychology behind what he espouses, but I'm not sure that I believe that it wouldn't be just as motivational to pay down the highest interest debt first as to pay off the smallest.

The cash envelope system would never work for me. I don't like to carry much cash or have more than a small amount of cash in my home. I don't think it's safe or sensible.

Credit per se is not evil. If you pay them off every month, credit cards are fine. Having a modest mortgage or a modest car loan that you can comfortably pay off is not evil.

Living beyond your means and getting in debt over your head is terrible. But that doesn't mean that you should never use credit at all.

But I'm not his target audience. If he works for some people, that's fine with me. If you know how to manage your finances anyway, I don't agree with all his advice.

This.

 

[bookgirl]

Other, because there's always an "other"

I like DR in theory. Basic principle is sound and I followed it when I was getting out of debt from graduate school. Cash only, envelopes to budget money into catagories, wants vs. needs, being frugal now to reach a goal, etc.

However, I don't like his all or nothing guidelines. I was never gazelle and was never going to be gazelle. (a term he uses for the all out, pedel to the metal attitude). I do believe in gray areas. He doesn't. I am agnostic so the christian based part of his seminars are not really a motivating factor to me. I do not believe that all credit cards are bad and I would never have no cc, because I'm not comfortable putting rentals, deposits and large purchases on my debit card.

I also am just slightly put off on the sheer number of items he sells and the price (you have to pay to be in his website for pity's sake), I mean the man is making a fortune off telling people to not buy stuff as he's selling them stuff.

 

[bettymae1121]

I like his "get out of debt" plan but not his investment/savings advice after that. His book "Financial Makeover" is not heavily religious, so those that aren't into that part of his presentation can read his books without getting a sermon.

I understand why he says to avoid CC's at all costs, many in his target audience have addictions to spending and for those kind of people, having a CC in your pocket is like an alcoholic that has a beer in the fridge. But for those that got in over their heads for other reasons and don't have spending issues, I think having a CC is fine. But if he said "CC's are not okay for these people but are okay for other people" than many in his target audience would justify in their own minds having a CC when they really should probably stay away from them. So, it's just easier to say "CC's are bad for everyone for every reason".

There is a lot you can take away from his books, I do recomend reading them. Even though a lot of it is common sense, it's a good reminder and motivator to see it all layed out for you.

 

[LisaR]

Other, because there's always an "other"

I like DR in theory. Basic principle is sound and I followed it when I was getting out of debt from graduate school. Cash only, envelopes to budget money into catagories, wants vs. needs, being frugal now to reach a goal, etc.

However, I don't like his all or nothing guidelines. I was never gazelle and was never going to be gazelle. (a term he uses for the all out, pedel to the metal attitude). I do believe in gray areas. He doesn't. I am agnostic so the christian based part of his seminars are not really a motivating factor to me. I do not believe that all credit cards are bad and I would never have no cc, because I'm not comfortable putting rentals, deposits and large purchases on my debit card.

I also am just slightly put off on the sheer number of items he sells and the price (you have to pay to be in his website for pity's sake), I mean the man is making a fortune off telling people to not buy stuff as he's selling them stuff.

I bought the book I have for .25 cents at a garage sale! I never understood people that spend an arm and a leg on books, videos, etc on how to save money.