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How does Dave Ramsey's plan 'work' for those who are disabled and living on poverty-level fixed incomes? How do they live on less than they make if rent consumes half their income?
There are millions of Americans for whom I can't see his plan working?
Dave is all about getting rid of consumer debt (like those from credit cards, auto loans, etc) and living within one's means. He doesn't address specific income levels, but for those who are able, he does encourage the person or couple to get "gazelle intense" on attacking their consumer debt and even take on additional work to get it paid down.
Obviously, if someone is disabled and unable to work, they're going to have additional challenges. Can they survive without running up consumer debt? If yes, that's optimal. If no, then I suppose they have to do the best they can.
How does Dave Ramsey's plan 'work' for those who are disabled and living on poverty-level fixed incomes?
It doesn't. And he's the first person to tell minimum wage workers they need to create a realistic long term plan to increase their earnings. If you listened to his show, you'd know that.
Poverty level fixed incomes is indeed a problem. Too old or truly unable to work can't be fixed. There's no panacea, but you already knew that. You just enjoy focusing on what doesn't work and what isn't possible instead of trying to implement what does.
If you listen to the debt free screams you'll notice most of the people actually increase their income while getting out of debt. I used his plan and can personally say my income increase by also 50%. I also was able to lower my expenses. Which is what he tells people to do if their income is very low. When you're fired up about something you find ways to make it happen.
If you listen to the debt free screams you'll notice most of the people actually increase their income while getting out of debt. I used his plan and can personally say my income increase by also 50%. I also was able to lower my expenses. Which is what he tells people to do if their income is very low. When you're fired up about something you find ways to make it happen.
Yes I noticed that, and also noticed that most of his debt free callers are two-income couples in their prime of their earnings curve (young and advancing in career). I find the debt free screams annoying. When I hear them I'm thinking something like..."Heck, if I had $180K annual income, MY debt would be paid off in a month! What took you so long?"
I used to listen to it pretty often, but I noticed that many of the callers are probably top 20%ers or better who have just run up the cards and need someone to help put the brakes on. It works for that. It doesn't work for the guy making $10/hr.
I used to listen to it pretty often, but I noticed that many of the callers are probably top 20%ers or better who have just run up the cards and need someone to help put the brakes on. It works for that. It doesn't work for the guy making $10/hr.
The first piece of advice he gives the guy making $10 an hour is "you've got to get your income up".
How does Dave Ramsey's plan 'work' for those who are disabled and living on poverty-level fixed incomes? How do they live on less than they make if rent consumes half their income?
There are millions of Americans for whom I can't see his plan working?
It doesn't, but his "plan" is not "one size fits all", either.
After 14 years on SSDI, I can tell you it doesn't pay the bills with any thing left over like it used to.
Any long term disabled person will or has run into the same problem I did.
So, I went back to work part time (allowed) as that's all I can manage to supplement and increase my SSDI and eventual SS.
He, similar to Suze Orman, simply tell people over and over that They should: get out of debt, live below their means, and save for emergencies and retirement.
Frankly, any idiot can tell people that.
Those who are disabled can get into other programs often to help them make ends meet , things not available to those making decent income. But it still may not cover their bills totally.
Dave Ramseys message is meant for the masses of people who make $50k to $100 k and can't make ends meet. Who stupidly spend spend spend their way into poverty, not those ON the brink of poverty via disability.
At least that's my opinion. Warning: Yours may vary, close cover before striking, do not iron while wearing, do not use in it near water, void WHERE prohibited by law, no expiration date.
How does Dave Ramsey's plan 'work' for those who are disabled and living on poverty-level fixed incomes? How do they live on less than they make if rent consumes half their income?
There are millions of Americans for whom I can't see his plan working?
You've obviously listened to Dave. Have you never heard him tell a caller, "You have an income problem"?
You've obviously listened to Dave. Have you never heard him tell a caller, "You have an income problem"?
I'm sorry I find that really funny. I mean he actually has to tell someone who is making minimum wage they need to get their income up?
They can't figure that out on their own???
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