Your opinion on Dave Ramsey

[tinkabella627]

Some people I know swear by him... others swear him off. So what are your opinions on him, his books, all of it? And what do you or do you not like about it all? I want to know if it is worth my time to read all the info. TIA

 

[Disneylush]

I read his book totally money makeover and found it good but nothing that was a "secret"

I do like the forum board "live like no one else" llnoe.com for suggestions and support.

He said do the CC with the lowest balance first and Suzie Orman says do the one with the highest interest. still not sure which way is the best to go.

 

[tinkabella627]

I saw something online that he said pay the lowest balance first... I kind of understand that because then it is one less bill a month and you can focus on the next highest one... but meanwhile that other one with insane interest just keeps collecting. I always paid off my cards in full but when we relocated and I was waiting for my job to start, I had to choice but to use my card. Luckily it is interest free until Jan 2010 BUT I don't think it will be paid off by then. And then our disney honeymoon we put on the disney visa and that won't be fully paid either. My goal was to get them both low enough that the interest wouldn't kill me. My rates aren't high but I hate interest!! I am going to go to that site you just posted and check it out. I think the highest interest makes more sense to me to pay off first.

 

[Disneylush]

ya, I got some really good advice on that site. One lady made it really clear to me... she said if you have your house and you have your car why do you care what your credit score is? apply for zero interest cards and transfer transfer transfer. Yes it may hurt your score a bit but what do you care?

 

[tinkabella627]

yea we have those (house and cars) but my husbands car is a lease... we dont want to keep leasing and his lease is up next aug. We are afraid to take a hit on the credit and then not get approved for a new car loan for him. Although, my credit is good so I don't think one new 0% interest card would kill it.

 

[tinkabella627]

I guess I will have to read the book to understand what a BEF is (and what it even stands for) and sinking funds and snowball payments...

 

[hanutedmansionmomma]

I read one book, was an easy read, and yes, it's kinda common sense, but it still inspired me to get more on top of things.

If you can borrow from library instead of purchasing you might like it even more

I do like the idea of paying off lowest balance first, it's nice to see progress fastish.

 

[minnie1928]

I read one book, was an easy read, and yes, it's kinda common sense, but it still inspired me to get more on top of things.

If you can borrow from library instead of purchasing you might like it even more

I do like the idea of paying off lowest balance first, it's nice to see progress fastish.

It is a lot of common sense stuff, there's nothing really "new" to his program. However, he does have a way of lighting a fire under your butt to get things moving. I've been doing his program (slightly modified to fit us) for about 5 years now. We are in a MUCH better financial position than we would've been without it.

 

[tinkabella627]

I read one book, was an easy read, and yes, it's kinda common sense, but it still inspired me to get more on top of things.

If you can borrow from library instead of purchasing you might like it even more

I do like the idea of paying off lowest balance first, it's nice to see progress fastish.

I figured it would be common sense... but not common sense if you aren't thinkin in the right frame of mind? I thought about getting it from a library but I have a book thing. I HATE used books. And osmething like that I might want to reference again? And the books are on sale on his site for $10.

It is a lot of common sense stuff, there's nothing really "new" to his program. However, he does have a way of lighting a fire under your butt to get things moving. I've been doing his program (slightly modified to fit us) for about 5 years now. We are in a MUCH better financial position than we would've been without it.

Thank you. Maybe that is just the push I need then.

 

[ajh88]

I just read Total Money Makeover and we are committed to doing it (Baby Step #1 is done, now we're on the hard one...).

I'll agree with others that it's not anything earth shattering - like some big secret - but he has a way of presenting the information to get you moving. It helped me see some hope and light at the end of our (long) tunnel instead of just feeling hopeless about ever being debt-free.

I also found it helpful to have someone else lay out a step by step plan. Sometimes I found myself getting overwhelmed about where I should put my money, but the book made me starting thinking about a plan and what would work best for my family.

We are nowhere near "gazelle" intense, but we have our moments and we are definitely moving in the right direction. I'd recommend at least reading this book - it is a quick, easy read and then you can decide if you agree with all, some, or none of his advice.

Good luck!

 

[tinkabella627]

I just read Total Money Makeover and we are committed to doing it (Baby Step #1 is done, now we're on the hard one...).

I'll agree with others that it's not anything earth shattering - like some big secret - but he has a way of presenting the information to get you moving. It helped me see some hope and light at the end of our (long) tunnel instead of just feeling hopeless about ever being debt-free.

I also found it helpful to have someone else lay out a step by step plan. Sometimes I found myself getting overwhelmed about where I should put my money, but the book made me starting thinking about a plan and what would work best for my family.

We are nowhere near "gazelle" intense, but we have our moments and we are definitely moving in the right direction. I'd recommend at least reading this book - it is a quick, easy read and then you can decide if you agree with all, some, or none of his advice.

Good luck!

Thanks! I have to order it... I am sure it will be $10 well spent.

 

[TheRatPack]

My 2 oldest are working through the Financial Peace University curriculum. I watch the DVDs with them and they are GREAT motivators for teens....both of my teens have dollar signs in their eyes over retirement accounts, paying cash for cars....etc. It's very depressing for me though, at 35, it really sinks in how much I've missed by not investing/saving...etc earlier on in life.

Still, I do enjoy watching the DVDs with the kids and seeing how motivated they are to start their life out right

 

[tinkabella627]

I just read Total Money Makeover and we are committed to doing it (Baby Step #1 is done, now we're on the hard one...).

I'll agree with others that it's not anything earth shattering - like some big secret - but he has a way of presenting the information to get you moving. It helped me see some hope and light at the end of our (long) tunnel instead of just feeling hopeless about ever being debt-free.

I also found it helpful to have someone else lay out a step by step plan. Sometimes I found myself getting overwhelmed about where I should put my money, but the book made me starting thinking about a plan and what would work best for my family.

We are nowhere near "gazelle" intense, but we have our moments and we are definitely moving in the right direction. I'd recommend at least reading this book - it is a quick, easy read and then you can decide if you agree with all, some, or none of his advice.

Good luck!

Thanks! I think I'll have to order it... I am sure it will be $10 well spent.

 

[Keishag]

My hubby and I are just starting this. I read Financial Peace U- Revisted a couple months back then just read Total Money Makeover this past weekend and got HIM to read FPU. We have that fire lit under us and are ready to GO! I agree that they are all super easy (and even humorous at times) reads and worse case scenario you have lost a couple hours of reading. Best case scenario, you'll have a few new tools to learn how to become and stay debt free.

 

[wahmtexas]

The company I work from home with gave us Dave's Total Money Makeover book last year and we enjoy it. Our growing income helps us to be able to do the steps, if I was still on a teacher's income I don't know if I could keep up with it.

 

[tinkabella627]

ok so my next question is... has anyone bought the workbook that goes with total money makeover and does anyone do the envelope system? and buy the envelope system?

 

[TheSweetLife]

I think for the most part any program designed to get you to financial security and being debt free is great for every family. But not every plan is right for every family. Dave Ramsey has been a wonderful asset for us. We are debt free minus our mortgage and student loans which we are trying to whittle away at more and more. While I don't follow the "envelope" system exactly we do a modified version for our family. We live by the motto, " if we don't have the cash for it, we don't need it".

 

[PinkRhombus]

As much as people bring up the differences between Dave and whoever else....if you're in a bad place, this guy has a proven record of guiding people in the right direction.

Try it for a while...I mean, truly give it serious go. If it doesn't work, try something else.

You have nothing to lose but debt.

We only have our mortgage, but I still listen to him. He gives a lot of good advice for all situations and levels of income. What doesn't apply to you now may help later.

 

[minnie1928]

ok so my next question is... has anyone bought the workbook that goes with total money makeover and does anyone do the envelope system? and buy the envelope system?

I bought the FPU kit through my employer (only $25!) and ended up selling the workbook and the envelope system on ebay (for more than the $25!!). I never needed them and we've been very successful with his program.

 

[tinkabella627]

I bought the FPU kit through my employer (only $25!) and ended up selling the workbook and the envelope system on ebay (for more than the $25!!). I never needed them and we've been very successful with his program.

so you suggest just get the book itself? I mean I can make some envelopes and save the however much that I would spend buying them. That's a good start to saving right lol