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People who are good with money, don't get themselves into consumer debt are not the people who need Ramsey. I don't know how that could be more clear. It's been said over and over on this thread. Ramsey doesn't believe lots of things, use of credit cards being one of those things. For the people who can't resist running up their credit cards and are always deep in debt and can't seem to get their way out and stay out of debt, he's right. Just like no one in their right mind would encourage an alcoholic to drink, someone who is unable to control their spending and owes thousands in credit card debt should not be using credit cards regardless of how awesome cash back and rewards might be.
Complaining about Ramsey isn't going to make him change his beliefs or his advice.
As for the title of this thread, the question posed can be changed to:
"What Do Dave Ramsey Non-Followers Do Now?"
They obsess about Dave Ramsey and his financial baby steps for others, even though they are not Ramsey's target audience because they are responsible with spending and use of credit and debt.
I am someone who doesn't need to follow Ramsey's steps because, as it turns out, I already completed 6 of the 7 steps before I ever heard of him. I pay off my CCs every month and have since I first got my own cards 35+ years ago. I am not his target audience. I still see value in what he teaches because few others, if anyone, address the specific target market he does: people who are deep in debt.
All the people who are complaining about Ramsey and his financial steps, why don't you get off your duffs and come up with a better plan *for people deep in debt.* Then you can promote this better plan to those who need it.
No need to come up with a better plan. There is already free credit counseling available to everyone. That seems to be a better plan for anyone struggling with debt than spending $129.99 for Ramsey’s class. And it’s amusing that one form of payment for his help on his sales website is ........ a Credit Card.
No need to come up with a better plan. There is already free credit counseling available to everyone. That seems to be a better plan for anyone struggling with debt than spending $129.99 for Ramsey’s class. And it’s amusing that one form of payment for his help on his sales website is ........ a Credit Card.
His books are available at many libraries. FREE. Doesn't require attending a class. Plus his radio show is free to listen to as well. I read one of his books many years ago, borrowed from the library. He has a free 2 week trial on his website where someone can go through his Financial Peace University classes/videos. Then cancel on day 14. Some churches may offer his financial lessons for free as well. More than 1 way to skin the proverbial cat.
His books are available at many libraries. FREE. Doesn't require attending a class. Plus his radio show is free to listen to as well. I read one of his books many years ago, borrowed from the library. He has a free 2 week trial on his website where someone can go through his Financial Peace University classes/videos. Then cancel on day 14. Some churches may offer his financial lessons for free as well. More than 1 way to skin the proverbial cat.
That’s good to know. I’m glad people deeply in debt don’t have to incur even more debt to get his program. Hope it helps them to figure out how to wrangle their finances appropriately.
No need to come up with a better plan. There is already free credit counseling available to everyone. That seems to be a better plan for anyone struggling with debt than spending $129.99 for Ramsey’s class. And it’s amusing that one form of payment for his help on his sales website is ........ a Credit Card.
That’s always the playbook. It’s like those people selling doomsday that the USD is going to collapse.
But they’re more than happy to accept payment in USD.
Because he believes something might happen that one month when you can't cover the card, And once you hit one month what if there is no recovery in subsequent months? And then you become the slave to the lender, Proverbs 22:7. Where as with the cash in envelopes that would have been impossible.
I think that he also says that people tend to spend more when it's on plastic than if you have to shell out cash. It's easy to throw a couple of more items in the basket when you know that you're going to just charge it.
So, in DR's world, he does apply the not using CCs as general advice to all who care to listen. Whether you have a debt problem or not.
I'm a fan of Dave Ramsey, I wish he would stop encouraging people to use debit cards only. It's way too risky in today's world.
I agree. So long as your careful with your use of Credit Cards they can be a real benefit. While it's true your not responsible for fraud charges on your back account, a thief could still empty your account with a stolen debt card. Now you waiting weeks for the bank to refund your money, Checks you wrote are bouncing, you may not be be able to buy gas for your car to get to work. It a real inconvenience.
Now with a credit card, even if they charge a million dollars in fraud changes on your card, your not responsible for any of it, (Assuming you notify them of the fraud right away) no interest owed, no bounced checks, no borrowing money from your parents cause your bank account is zero till you get your next paycheck or the bank reimburses you.
I've noticed that a lot of stores and pharmacies in my area won't accept cash right now. For all of those Dave Ramsey followers who eschew credit cards, what are they doing during the this time? The envelope system maybe doesn't work quite as well during a pandemic.
It works perfectly fine but so does the bank debit card. We leave little in that checking account in case issues arise.
No need to come up with a better plan. There is already free credit counseling available to everyone. That seems to be a better plan for anyone struggling with debt than spending $129.99 for Ramsey’s class. And it’s amusing that one form of payment for his help on his sales website is ........ a Credit Card.
He purposely asks people to use a DEBIT CARD for purchasing his products.
If it's hot a visa logo, though unless they study the prefix numbers, they would not necessarily know what kind of card one used.
Hey, he makes plenty of money at it, and has for 30some years.
So who is anyone WITHOUT a $55million net worth to argue?
I've noticed that a lot of stores and pharmacies in my area won't accept cash right now. For all of those Dave Ramsey followers who eschew credit cards, what are they doing during the this time? The envelope system maybe doesn't work quite as well during a pandemic.
I listen to Ramsey but I use credit card. I pay the balance of every month haven’t carried a balance over for 20 years. I use points toWard the balance. Also, you get tons of protection using a credit card id you need to dispute a charge. You are in your own with a debit card. My credit score is 825 because of my credit cards. I am using less than 1% of the total available. I think Ramsey is afraid that most people are so weak and undisciplined, they will charge more they can handle.
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