Back around 2013 at a Mardel's in Oklahoma City I ran into Dave Ramsey. Before 2013 I had heard of Dave Ramsey and listed to his radio show for several years off and on. I don't agree with everything he says and a lot of it is common sense that I talk about and half a million other people talk about.
After listening to him and meeting him in person I have to say there are two sides of him.
He's a nice guy that does want to get people out of debt. He does carry a grudge against lenders due to how he was treated 30 years back when he was going through debt issues.
He is the kind of guy that is warm and welcoming, but he does skew and amplify his personality on the radio. Some of this is for entertainment purposes.
One thing for sure, beyond anything and everything else, I see Dave Ramsey as a Marketer.
The information he provides is basic and he repeats a lot of his answers over and over for years now. You know what? That's not a bad thing.
I like him just as I like a lot of other money maker's and marketers including a lot of you!
With that being said here are a few things I don't agree with.
1) I believe you can hold ETFs and Bonds in your investments.
2) I think once you know what you are doing, you don't have to pay a Financial Adviser. I think you can save those fees and do your own research as well as periodically re-balance your account.
3) I think "Baby Step 1: Save $1,000" should be changed to something that can scale with time and inflation like "Baby Step 1: Save a Month's Expense's".
Now something that does work better and is not logical is the Debt Snow Ball of paying your smallest debt first and working up to the largest debt. You don't save as much money this way, but it works more than paying the largest debt and working your way down. This is due to Behavioral Economics.
I'm much more brutal when it comes to saving money and that is based around my own sacrifice and experiences. I say you should save 6 to 12 month's of expenses in most cases. I cut so much out of my life to achieve that that it shaped me into a different person and I don't regret it. In fact I took on additional challenges to test myself and see what my limits were. It helped me understand who I was.
If you are just starting to recognize you have a money problem and it circulates around debt, then Dave Ramsey is worth taking a look.
All add an Affiliate link to an updated version of the book I bought years ago:
Dave Ramsey: Total Money Makeover
If you are interested in the silly Capitalist Pig shirt.
Capitalist Pig shirt
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