Current Events > the Dave Ramsey cultists seem like real assholes

(+) Yeah! (+)

"Credit score? Y OU MEAN DEBT LOVERS CLUB SCORE? you can't buy a 500,000 dollar house straight CASH? lmao you fucking piece of shit! i bought my house CASH because im not an IDIOT DEBT LOVER like you! yeah i worked 80 hours a week over 3 jobs for 5 years to do it! BUT IT WAS WORTH IT CUZ CAAAAAAAAAAAAAASH"

guys be angry with me

He has a lot of room temperature IQ takes for anything non finance and budgeting, but he repeatedly says taking out a 15 year mortgage is fine.

Will_VIIII posted...

He has a lot of room temperature IQ takes for anything non finance and budgeting, but he repeatedly says taking out a 15 year mortgage is fine.

i know but im upset.

still, 15 year mortgage in this market is still pretty stupid.

He pushes people into scam funds with a bunch of fees that he no doubt gets a kickback from.

not to mention those Debt Free Screams seem REAL culty as shit.

plus its dumb. people will act like they worked hard to pay off their debt when they make 300,000 dollars a year. like no shit. should i schedule a debt free scream after i venmo my friend my share of the restaurant bill?

Is that what he really teaches? Because it really helps in life you have a good credit score....

Mezcla posted...

i know but im upset.

still, 15 year mortgage in this market is still pretty stupid.

I'd agree, I did a 30 year with 10% down in 2020 and it was definitely the correct choice even with PMI.

Krojen posted...

He pushes people into scam funds with a bunch of fees that he no doubt gets a kickback from.

Like what?

Eramir posted...

Is that what he really teaches? Because it really helps in life you have a good credit score....

Credit scores are only good for letting you borrow more money. I know I'm repeating one of his talking points lol, but I don't disagree.

That all said I do keep 1 credit card. I'm not interested in dealing with the extra hassle of finding a hotel or car rental that allows me to use a debit card in place of one

His advice should be considered advice for debt addicts in the same way something like Alcoholics Anonymous or Gamblers Anonymous are for other addicts. A normal person can drink some wine or beer sometimes and it won't have any detrimental effects on their life. A former alcoholic has reason to exercise extreme caution. Similarly, someone who somehow keeps ending up under mountains of credit card debt should probably cut up credit cards until they figure out if there's a root cause spending problem. People can and do go on shopping binges the same way other addicts go on binges.

With that being said it is a little different I suppose because you can make the argument that those other addictions are vices that everyone can cut out without any problems. Debt however can be an extremely valuable tool when used correctly and in modern America it's kind of the only way you can do a lot of things. No normal person can actually buy a car or a house or go to college without taking on debt. And responsible use of credit cards leads to better credit scores which leads to better rates on those car and house loans and things. Not to mention credit card benefits and stuff. So all those Ramsey Proselytes who altogether believe that debt is the devil are spreading irresponsible nonsense but the advice is true for some subset of people who do need to be debt-averse.

[LFAQs-redacted-quote]


I wasn't always the greatest with finances and personal budgeting. I was never really in debt but I did live paycheck to paycheck. I happened to stumble upon his yt channel a couple months before the pandemic and following his steps for the most part were definitely a reason why I was able to get a house.

Will_VIIII posted...

I wasn't always the greatest with finances and personal budgeting. I was never really in debt but I did live paycheck to paycheck. I happened to stumble upon his yt channel a couple months before the pandemic and following his steps for the most part were definitely a reason why I was able to get a house.

did you pay cash

Kuuko posted...

His advice should be considered advice for debt addicts in the same way something like Alcoholics Anonymous or Gamblers Anonymous are for other addicts. A normal person can drink some wine or beer sometimes and it won't have any detrimental effects on their life. A former alcoholic has reason to exercise extreme caution. Similarly, someone who somehow keeps ending up under mountains of credit card debt should probably cut up credit cards until they figure out if there's a root cause spending problem. People can and do go on shopping binges the same way other addicts go on binges.

With that being said it is a little different I suppose because you can make the argument that those other addictions are vices that everyone can cut out without any problems. Debt however can be an extremely valuable tool when used correctly and in modern America it's kind of the only way you can do a lot of things. No normal person can actually buy a car or a house or go to college without taking on debt. And responsible use of credit cards leads to better credit scores which leads to better rates on those car and house loans and things. Not to mention credit card benefits and stuff. So all those Ramsey Proselytes who altogether believe that debt is the devil are spreading irresponsible nonsense but the advice is true for some subset of people who do need to be debt-adverse.

I'll disagree with that car loan part because not having a lein on the car means your insurance will be lower too and it's not as unfeasible in most circumstances to try to get some in the 5k range that's also reliable.

Current circumstances with car prices being an exception.

Mezcla posted...

did you pay cash

he built an indentical house out of bricks of cash and traded it one-for-one with the bank

Also community college is a thing and significantly cheaper for those first two years. Just saying.

What does Dave Ramsey say about the 401k, I think you're supposed to try and put 25% into your 401k

He recommends 15% generally which is reasonable imo

did
you
pay
cash

I used to listen to his radio show when I had a rural driving job with a shitty work vehicle that had no aux/bluetooth options and there were literally no music stations in range. He generally gives good financial advice for middle and upper-middle class families. Not living on credit cards, not buying more house than you can afford (current fucked housing market notwithstanding), preferably not financing a vehicle (again, current market fuckery aside), savings, etc. His "debt snowball" approach to eliminating debt is really smart, but also really obvious. His advice is absolutely fucking useless to anyone lower class/working poor, though. And he's definitely a pompous ass. My biggest takeaway from him was always avoiding credit cards and car payments, which I generally already lived by.

[LFAQs-redacted-quote]

He even addresses this. It's the small wins that can really motivate and keep the momentum going when you've eliminated one of them.

why won't he say he paid cash or not

it is cuz it took out a 30 year mortgage

is he on dave's blacklist?

Mezcla posted...

why won't he say he paid cash or not

it is cuz it took out a 30 year mortgage

is he on dave's blacklist?

Who me?

Mezcla posted...

why won't he say he paid cash or not

it is cuz it took out a 30 year mortgage

is he on dave's blacklist?

Dude, how could he pay cash if he took a mortgage. Do you have any idea what you're talking about?

Dat_Cracka_Jax posted...

Dude, how could he pay cash if he took a mortgage. Do you have any idea what you're talking about?

what?

Mezcla posted...

what?

What?

Dat_Cracka_Jax posted...

Dude, how could he pay cash if he took a mortgage. Do you have any idea what you're talking about?

He's asking which one the guy did. He's doing a joke thing where he's asking if someone didn't do action A because they actually did Action B, which is an embarrassing thing.

[LFAQs-redacted-quote]


Eh, he actually suggests prioritizing high-interest debts if they're very out of line compared to others. So I guess Ramsey's version of the snowball is more of a hybrid. But generally speaking if you're in a position to need either then you're already someone who can't manage your money.

E_S_M_Z posted...

He's asking which one the guy did. He's doing a joke thing where he's asking if someone didn't do action A because they actually did Action B, which is an embarrassing thing.

I guess I just don't get it. Earlier in the topic the guy said he did a 30 year mortgage with 10% down

Will_VIIII posted...

I'll disagree with that car loan part because not having a lein on the car means your insurance will be lower too and it's not as unfeasible in most circumstances to try to get some in the 5k range that's also reliable.

Current circumstances with car prices being an exception.

If you go that route of a cheap car, you better either know how to fix cars or mechanics who can help you out because youll pay a LOT of money to shops if you dont know anyone. Cars like that have a good chance of having a lot of problems.

Source: I was poor growing up so I grew up on cheap cars

lol why'd the TC block my main?

Dat_Cracka_Jax posted...

What?

Keep mah name out ya moufs