Dave Ramsey Debunks Some Debt Myths
Best selling author and radio talk show host Dave Ramsey tackles the debt myths.
Duration : 0:10:15
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i hate it when …
i hate it when callers pat themselves on the back.
She made great decisions. Good for her.
SHUT UP!
If people had what …
If people had what you refer to as “financial sense” they would not be turning to dave ramsey for help. In the long run, paying off the smallest debt first is infinitely better at keeping the motivation to get out of debt. It’s not like your ignoring everything else, minimums on everything, then after the budget you throw everything else at the first debt. It form habit, and habit will always prevail over numbers. You can’t do it his way and fail unless you aren’t trying. can you say that?
I’ll agree that he …
I’ll agree that he can help people in debt because he admittedly takes aim at what makes psychological sense instead of financial sense. Example, he has people target the lowest balance debt first instead of the highest interest rate because if you pay something off, it’s like a mental victory, even though it makes more money sense to pay down the high interest first.
Dave does make sense with some stuff but people need to consider if his advice applies to them or not.
Dave is a …
Dave is a millionaire because of his advice–he followed it. I have listened to literally hundreds of hours of his radio show. He “targets” people who need help and need to get out of debt. Many small businesses are going under because they leveraged too much on the advice of the “intellectuals” who think that debt is good. The financial crisis was caused by people buying what they could not afford. People get in bad situations if they did not follow his advice.
Dave is not a …
Dave is not a millionaire because he follows his own advice. He’s a millionaire because he’s an entertainer who gives advice to a target market. If small business owners took his advice, it’d probably hurt them more than do them good. And 90% of people are not in overwhelming debt.
I don’t listen to Dave but I am in the financial services field. Many people come to us having gone through Dave’s program. This has led a lot of people into bad situations and that’s why I post and research here.
Which is why the …
Which is why the radio show is 90% of your average person in overwhelming debt, or small business. Beyond the target market is a SMALL margin of people looking for advice. If you’re so smart and clever, don’t listen, and just keep making your millions. Although if your busy making comments on youtube, something tells me you aren’t a millionaire. Dave is.
“100% of the time …
“100% of the time they no longer charge you 6% after you pay off the loan”
And again, you make it sound so easy, and yet you forget the involve any risk. is 4% worth having the mortgage still in the air if you can pay it off? What does a CD yield again?
You have an …
You have an emergency fund. Take a little time and look at what dave says before you open your mouth and look stupid. The total money makeover covers all of this.
Dave Ramsey is all …
Dave Ramsey is all about Common Sense
His advice usually …
His advice usually makes sense for people who struggle with debt and general finances. But beyond that target market, people can actually fall behind and lose control of their money by following his advice. People need to talk to financial professionals, not financial entertainers on TV who garner ratings based on their personality rather than merit.
The tax write off …
The tax write off comes in handy to lower the impact of your mortgage. A 6% mortgage becomes a net effect of 4% in a 25% tax bracket. Then to compare apples to apples, you can find tax free, guaranteed places for money that can net you 6%. In that case, you’re benefitting from using OPM (other people’s money). And yet Dave talks down to people who understand this. When he does that, he lowers his credibility and gives poor advice.
So Dave, what …
So Dave, what happens if you pay your house off early and build all that equity…then lose your job or become disabled? You’d probably need to get some money back out of the home…only that will be next to impossible without an income. They don’t just give out home equity loans or lines of credit, you need to be able to meet their requirements. Sure you could sell but you have to take what you can get and maybe you didn’t want to sell. Why put yourself in that position?
lol goobers…i …
lol goobers…i love dave ramsey
I think Dave put …
I think Dave put words in this gal’s mouth to make his point. I wish he would drop this religious crap though. I don’t see a connection between Jesus and finances.
I believe over 100 …
I believe over 100 million babies are aborted alone in just one of the top 10 Capitalist countries in the past two decades for economic greed and how many more deaths from profit wars, poverty, prostitution, denied health care and violent crime to name more instabilities! Billions of lives have been swallowed by inumane capitalist demands when you add the true figures. We must end economic fascist injustice though Marxist revolution!
Some “financial …
Some “financial advisors” promote the tax deduction to their clients because their looking after their own finances not the clients. Has your brother ever heard of commission. Also he should ask the advisor how much MONEY he’s going to make off of him. Now that’s real life.
Uiplur is obviously …
Uiplur is obviously regurgitating some “huffington” style blogger bullsh*t. What a sad lemming. Probably has six credit cards.
You are obviously …
You are obviously an idiot. Dave Ramsey is a financial genius and has helped millions get out of debt.
I’d like to slap …
I’d like to slap this guy with an open palm repeatedly for calling Peter Schiff an idiot. Schiff has been correctly predicting trends for years, and this a-hole has the nerve to talk him for saying we would have a crash in 08. This guy is NOT a financial guru. He clearly doesn’t even understand basic economics.
i know you feel …
i know you feel important trying to show up someone trying to help others. please get some real facts before you try to act intelligent.
ur a bk
ur a bk
nooblet
nooblet
noob
noob
uni, your a freaken …
uni, your a freaken moron. Dave teaches that you need to pay your debts. Maybe if you took the class you’d know. He teaches that you need to be smart with your money so you can pay your debt and eventually have no debt. Maybe you should do some research before you speak you dumb socialist peice of crap.
Uni, you don’t know …
Uni, you don’t know what you are talking about. I have listened to Dave hundreds of hours and he tells people to pay their debts if they legitimately owe them. However, if someone is broke, they can’t pay the bill anyway. So it would be better for them to make a settlement than declare bankruptcy or let it go. He helps people to save, invest, pay off debt, and live financially common sense lives. I guess for people like you who have wealth envy, you will attack someone who is doing good.