• Watch Out for Scammers!

    We've now added a color code for all accounts. Orange accounts are new members, Blue are full members, and Green are Supporters. If you get a message about a sale from an orange account, make sure you pay attention before sending any money!

Dave Ramsey?

ubet

ubet

Private
Full Member
Minuteman
May 28, 2008
166
84
Commifornia no longer
Was wondering if anyone can give me any insight on it. Is his program worth it, does it work? $10 a month will end up being $120 a year, and that can go along way to paying something off. I am always very leery of these kind of things. Any input, good or bad would be appreciated.

Thanks
 
Re: Dave Ramsey?

I had the kit, but was free as my unit commander got it funded by the tax payer. IF I was serious, it would work. But I'm not, well, my wife isn't. That's the key, you both have to be on board. I learned a lot though, but nothing I didn't already know, just forced to actually recognize and give a name. Overall, if you're serious, then the $120 will be a drop in the bucket, and it will be worth it in the long run.
 
Re: Dave Ramsey?

You can buy his book the Total Money Makeover and get his basics for about 10 bucks total.

His advice is solid....whether or not you can stomache following it is something else.

If you have a lot of debt you wont like what he has to say.
 
Re: Dave Ramsey?

The guys a kook, he expects you to live within your means and crap like that.....crazy!


laugh.gif



Kidding, good guy, but I wouldn't spend $120 yet. As mentioned get his book and download a few free podcasts, listen to a weeks worth of radio shows, you'll know enough to decide if it's worth the $120 to you.
 
Re: Dave Ramsey?

Cash is king.

Here, send me $120 and I'll show you the following:

Pay off smallest bill first, now take that money and pay the next smallest bill off, all the while making minimum payments on everything else.

Soon you'll have one payment left and be paying ALL of the previous pyaments AND that minimum payment into the last payment.

Soon you too will be debt free.

Now the key is to learn to live within your means.

Don't buy nothing you can't sell for what you paid for it, in case you get bored with it.
 
Re: Dave Ramsey?

He is syndicated on the radio, find his station and listen. Go to the library and check out his book for free.

Since I saved you $120, you can send me $60. Now you are still $60 ahead. Now save your money.

BTW, his book, his kit, and his radio show don't do it for you. YOU are the only one who can make it work.
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ArcticLight</div><div class="ubbcode-body">Cash is king.

Here, send me $120 and I'll show you the following:

Pay off smallest bill first, now take that money and pay the next smallest bill off, all the while making minimum payments on everything else.

Soon you'll have one payment left and be paying ALL of the previous pyaments AND that minimum payment into the last payment.

Soon you too will be debt free.

Now the key is to learn to live within your means.

Don't buy nothing you can't sell for what you paid for it, in case you get bored with it.

</div></div>
Check inbound. . . . . . . . . . .
laugh.gif
 
Re: Dave Ramsey?

LOL It works, seriously...This was my plan, and it worked. Think it's the same one he preaches

If you have 3 payments per month:

$15

$25

$50

You make minimum payments on everything. You put EXTRA on the $15 until paid off.

Now on the $25 you increase it by that $15 to $40 plus any extra.
When that is done you put that $25, and that $15 onto the $50, plus any extra.

It pays off exponentially, PROVIDED YOU QUIT USING THE CREDIT.

Credit is for one thing and for one thing only, to make the shareholders of Visa, MasterCard, American Express, and Discovery money.

It's not for you, it's for the shareholders.

Unless you are a shareholder get rid of the cards.

 
Re: Dave Ramsey?

Thanks for insights everyone, I am glad I didnt jump on the bandwagon and asked a little bit first, I will look into reading his book.

AL, I havent used the cards for 4yrs now. Unfortunately somethings came up, and I HAD TO use them. But I want to get out from under them, and think from what little I have read here, and on his site, I have a basic idea of what I need to do. I will get his book and go from their.

Thanks again guys, its tough to admit these things like this, because its embarrassing being in debt.
 
Re: Dave Ramsey?

ubet, I have his book sitting here, pm me your address and you can have it.

When your done reading it, mail it back, media mail should cost you $2 or so. Better yet, promise to mail it to the next guy that needs it, pay it forward.

Just be sure to write something nice about the guy that gave it to you in the front cover
laugh.gif
lol
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ubet</div><div class="ubbcode-body">Unfortunately somethings came up, and I HAD TO use them. </div></div>

Change that mindset, if you don't have cards you can't use them!

I'll admit, a K98K s niper rifle came up but I spent an extra grand this month because my daughter is visiting, so no K98K, savings is down $1000 and it's going to take me a month to rebuild it...

But no credit card, once you have savings you appreciate eveyrthing you spend it on and it REALLY makes you stop and think "Do I really want this?".

That's the key.
 
Re: Dave Ramsey?

The only reason I was looking at it is that it's a little more interactive then what I found in the past.
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jasonk</div><div class="ubbcode-body">ubet, I have his book sitting here, pm me your address and you can have it.

When your done reading it, mail it back, media mail should cost you $2 or so. Better yet, promise to mail it to the next guy that needs it, pay it forward.

Just be sure to write something nice about the guy that gave it to you in the front cover
laugh.gif
lol </div></div>

Jason, that is really really nice of you! Thank you so much, I will pay it forward.

Pm inbound!
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ArcticLight</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ubet</div><div class="ubbcode-body">Unfortunately somethings came up, and I HAD TO use them. </div></div>

Change that mindset, if you don't have cards you can't use them!

I'll admit, a K98K s niper rifle came up but I spent an extra grand this month because my daughter is visiting, so no K98K, savings is down $1000 and it's going to take me a month to rebuild it...

But no credit card, once you have savings you appreciate eveyrthing you spend it on and it REALLY makes you stop and think "Do I really want this?".

That's the key. </div></div>

When I say had to, transmission blew in my pickup, and it was how I was working, but didnt have the money. The onemajor charges was a HUGE vet bill on a horse that I had a very pricey offer on, horse ended up dieing. I didnt buy guns or gamble it, I spent my saving and the cc had to cover the rest unfortunately. I know excuses excuses but I am just trying to shed some light.
 
Re: Dave Ramsey?

You might also want to listen to Clark Howard (also on the radio). He also has very good ideas and topics on saving money and getting out of debt. Good luck, man!
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ubet</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ArcticLight</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ubet</div><div class="ubbcode-body">Unfortunately somethings came up, and I HAD TO use them. </div></div>

Change that mindset, if you don't have cards you can't use them!

I'll admit, a K98K s niper rifle came up but I spent an extra grand this month because my daughter is visiting, so no K98K, savings is down $1000 and it's going to take me a month to rebuild it...

But no credit card, once you have savings you appreciate eveyrthing you spend it on and it REALLY makes you stop and think "Do I really want this?".

That's the key. </div></div>

When I say had to, transmission blew in my pickup, and it was how I was working, but didnt have the money. The onemajor charges was a HUGE vet bill on a horse that I had a very pricey offer on, horse ended up dieing. I didnt buy guns or gamble it, I spent my saving and the cc had to cover the rest unfortunately. I know excuses excuses but I am just trying to shed some light.</div></div>. Step 1 is save $1000 so you don't have to turn to plastic when life gets in the way. Its a good program that's hard to argue with, although many "experts" will. It really gets crazy when you get to paying off he house early. People look at you like you are batshit crazy when you start talking about paying off your mortgage in 5 years instead of 30. They always cite tax deductions on interest as a reason to have a mortgage. Well id just as soon rather not be paying the interest at all.
 
Re: Dave Ramsey?

It's a great program IF you're serious about wanting to get out of debt. For me it was a big wake up call to quit using credit cards for dumb crap. I'm down to about 15% of the debt I had 9 months ago when I read the book. Will be completely debt-free before Christmas. After that I'm saving for a house.
 
Re: Dave Ramsey?

My wife and I went through his financial peace university program with a group of other couples. I can tell you that it changed our way of thinking when it comes to money. We are debt free (minus our mortgage). It took some sacrifice and like was mentioned earlier it takes both to be on board. It was only after "getting our act together" that I was able to have my 300 built. No regrets- Daves program changed our lives (cliche I know) but it did.
 
Re: Dave Ramsey?

+1 Dave Ramsey is good stuff. My wife and I are fortunate and currently don't have any debt, but using Dave's guidelines really helped give us focus and a plan for our money. The principles and concepts have helped me streamline and make better decisions in other areas of my life, too. When you hear what he has to say you think "duh, I already knew that, common sense stuff" but it really pushes to go from just knowing to actually doing...that's what is key.
 
Re: Dave Ramsey?

I have read around 180 pages of the book since 11am yesterday. WOW! Is all I can say. I took what money we had stashed away, cleaned off 1cc paid another 25% off, and will be out of a bill to Les Schwab by the end of the day! I/we needed this wake up call, it does you no good to try to save, if all your doing is paying on debts, it just wont happen.

AL, after reading the book, you are right, I was wrong. I now see what you are/were saying!

Thanks to JasonK for sending this to me!
 
Re: Dave Ramsey?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hbus1300</div><div class="ubbcode-body">Step 1 is save $1000 so you don't have to turn to plastic when life gets in the way. Its a good program that's hard to argue with, although many "experts" will. It really gets crazy when you get to paying off he house early. People look at you like you are batshit crazy when you start talking about paying off your mortgage in 5 years instead of 30. They always cite tax deductions on interest as a reason to have a mortgage. Well id just as soon rather not be paying the interest at all. </div></div>

Exactly, I'm paying 12 or 15k a year in interest so a tax deduction that gets me 2k back is bad.

But, my loose cash is gambling in teh stock market (doing OK), with that I could pay the house off.

House has devalued and in 3 years I want to move to Texas so I may pay the interest on mine.

Mortgage is all I have for debt tho, 18k in savings, and it's a good life, live frugal - get what you want.

I also drive a 1996 Nissan truck that has been paid off over 10 years now - no truck payment for me...

I could die tomorrow and it would suck, so you can live for today and prepare for tomorrow.

Besides, once you buy all the toys you want, you get bored...one good rifle and a few others for fun shooting.
 
Re: Dave Ramsey?

+1 on Clark Howard, I love his program. I listen to him as much as I can at work. He has a lot of good advice that has served me well.
 
Re: Dave Ramsey?

The wife and I followed the Ramsey plan. We paid off the last $500 of the credit card about 2 weeks ago. We've been working so hard at it for so long now, that we still have the mentality of not spending money, i've bought the wife some things that she's been wanting for a lot time, but keep looking at things I want, and saying to myself, let me think about it a while, and during that time I realize I don't really need it, and in some cases don't even have a real use for it.

I have a "total money makeover" book sitting here collecting dust as well, if anyone wants it, PM me.

Branden
 
Re: Dave Ramsey?

I don't know who came up with the "home as a tax deduction" is a good thing, but I suspect it was someone in the real estate sales/mortgage business. Paying $12K in interest to get $2K back is stupid math. Mortgages are a rip off.

Paying off your home in the fastest amount of time is one of the best things you can do. Whatever sacrifice that you make to do it, you will gain it back 5 fold in the first year after the payoff. I paid off my last house by a true focus for being debt free for retirement from the military. Then we relocated and bought a bigger/nicer home. We just paid it off after 13 months (selling our last paid off home was a big part of that).

Regardless of home much money you will have each month without a mortgage payment, there is something great about knowing that you OWN your home.
 
Re: Dave Ramsey?

I think my wife and I can be out of 30k (her effing student loans) in debt by Oct 2013 if not faster. After that, I am going to NEED another truck, so we will save for that and ONLY pay cash, after we have our emergency fund. The job I have right now, comes with a house and they pay the electric, so that is a HUGE bonus for us. I have always felt that my money was dragging me around, it is so nice to start to have a plan, and although we are still at the bottom of the hill, its nice looking up and seeing the top, and know we are going there with a lot of effort.
 
Re: Dave Ramsey?

Ubet - while it's good to focus on paying off the student debt (my wife has more then double that to pay off...) don't think that debt itself is bad. When debt is controlled and you understand FULLY the interest rate terms and have clearly budgeted interest and capital payments then debt can be used like any other tool and those who know how to handle the most tools with decent skill are the ones who get ahead in life.

The point is, if you want to only have things you can buy in cash, then that's a very frugal life. If you want to build a life and have ambitions on self employment then at some point you will need to understand and use the principals of calculated risk.

Dave Ramsey is good for those who need remedial assistance but its not a reasonable lifestyle for those who seek to learn how to use all the options available to their advantage.

Whatever you decide, good luck to you and your wife.
 
Re: Dave Ramsey?

Event, I never have liked credit, and have always thought it was a scam. But got sucked into it. I honestly feel, if you dont have the money for something, then you shouldnt buy it. I can live frugal and it doesnt bother me. I just dont see why I should pay someone a percentage rate and a monthly payment, when I could save the money and pay for it in cash. As gunfighter on here says "cash is king".
 
Re: Dave Ramsey?

Hey, cash is king no question and my comment wasn't about the regular stuff that people whip out their plastic for. Not a chance. I'm talking more about things that would potentially enable you to get take your family to better things or opportunities.

For example: you work with horses right? Let's say you get the chance to get into some land or set up a service orientated business around what you know. The cost to set up the service or buy the land or whatever is more than what you have in your account. With a good understanding of cashflow estimation, debt/cost financing and income projection, you will be able to determine if it's worthwhile and a good risk to take on some debt (bank loan etc) to set up the service or better for you to walk away.

Again, not retail debt (which is pretty retarded) but using debt as a POTENTIAL tool in your bag to get further in your goals.

I look at it like guns. Those who are fearful of guns just have a blanket view that they are evil things waiting to destroy. However, those who understand and are practiced with them see them as tools that can be used safely for work or for leisure and apply the necessary caution as a result.

The better informed one is, the better positioned they are to take advantage of Life's opportunities.

"Fortune favours the prepared".
 
Re: Dave Ramsey?

I'm not in much need of his advice anymore, but I still enjoy listening to his radio show now and again. Go to his website and you can listen to him live, as well as download past shows and podcasts.

Does his ideology (and many others like him) work? Well, I'm 30 and I have *zero* debt, other than my primary mortgage and my first home is paid off and rented out now..plenty of money in my 'emergency fund', a 529 started for kids I don't even have yet, etc. So yea, I personally think the 'duh' approach to personal finance works. Some make people like Ramsey sort of 'religion' and I personally don't think it's necessarily a bad thing. Once you see some progress, you'll be hooked.

Also, after you are done with the Ramsey book, I highly suggest picking up a copy of "The Millionaire Next Door". I have a list of some other good books concerning this sort of rhetoric, if you're interested. Just shoot me a PM.

Oh, I also have a good 'debt reduction' Excel sheet/calculator that works really well for structuring payment plans for your debts, showing you pay off dates, etc...allows you to use use either a 'snowball' or 'avalanche' approach to paying off debt. One of the better ones I have used/seen. If anyone is interested, shoot me a PM.

Good luck!
 
Re: Dave Ramsey?

Well I have read his book, makes sense, trying to get on board, deployed now so money is used less. When I get home I will be downsizing/liquidating to get a little more ahead. Anyone need some semi custom remington 700's in 308/ lots of leupold glass/ sig sauer hand guns, custom ruger single actions, 1911's etc etc?? Overall the thought of being debt free is nice, now I will just have to learn how to tell my local FFL's nope have to pass when I have cash to burn.. That and cutting back on shooting will be the hardest things to do, hell cutting shooting alone will probably free up 400 a month and I reload.
 
Re: Dave Ramsey?

Event, I see what you are saying, buying land is one thing to go into debt for, I think, as long as you have a good sized down payment. But to use plastic to run a business, not so much soo, thats what I thought you were talking about. My business has always been self sufficient....

Bailey, thats pretty great to hear. Congrats on being debt free. If we can do it, we will be in Oct 2013, maybe sooner if we can sell one vehicle we dont need.
 
Re: Dave Ramsey?

You guys should also do one more thing.

Since it will be a while before you are out of debt, take $25 a month - slap it into something you can't touch, EE savings bonds or get a brokerage account and buy some stable stock and just keep pumping $25 a month in or MORE if you can, $100 is really nice...


Because two years from now $100 a month is $2500.

Let the interest work for you as well, and after you are paid off you have a savings..
 
Re: Dave Ramsey?

We have $3000 in some type of savings, that we can get to, but its not easy I was just going to keep that for my emergency fund until we are out of debt. It is earning some interest not a lot though. We are going to need every extra bit of cash to get out of debt by that date. We are adding $800 onto the payments to do it, thats a lot of extra money to come up with each month.

Thanks for all the ideas and support everyone.
 
Re: Dave Ramsey?

Sometimes I listen to Dave Ramsey, on the weekends, while in the shop. He's okay... pretty much common sense stuff. I will say he has helped a lot of people and that's a good thing. Living debt free reduces stress and makes day-to-day living much more enjoyable.
 
Re: Dave Ramsey?

I am not the most financial savvy guy in the world. I spend a bit too much, but my daily expenses are marginal. I drive old vehicles(they are an embarrassment to my family) and live in a modest house.

A couple of years ago, I cleaned up a fairly small mess I had made and now can do pretty much what I want.

Some people never catch on. A few months ago, a woman called into the radio program and said she and her husband were doctors. Sounding good so far. She went on and said they had about $220K in student loans. She was not working, but staying at home with the kids. He was working but only making about $30K after being at his practice for several years. Dave started asking questions and they were doctors alright- chiropracters.

Student loans seem to be a killer. So easy to get and so hard to get rid of.
 
Re: Dave Ramsey?

Think how recession-proof you could be if you had no debt!! How cheap could you live if you had to, and had no debt? Its crazy! If you had no debt and lost your job, it its less of an emergency.

Fortunately I managed to be debt free, including no mortgage, before my 50th birthday and I will do everything possible to stay that way.
 
Re: Dave Ramsey?

Here is that debt calculator I was speaking of:

Debt Reduction Calculator

My gf is currently paying off her debt with the help of this sheet and decided to use the "snowball" approach, which orders your debts from smallest to largest.

Basically, you pay the minimum on all debts except for the first one on the list, where you dump as much as financially possible into it. As soon as you pay it off, you continue onto the next debt, including the min payments from the first one you paid off..and so on. Although the smallest debt isn't necessarily the 'best' way, financially speaking, it adds a good psychological effect once you start seeing debts drop off.

Good luck.
 
You must log in or register to reply here.

Similar threads

T
Spring hunting trip recommendation
Replies
24
Views
452
Kilo Sierra
K
N
RF binos help
Replies
2
Views
193
diggler1833
diggler1833
Maggot
Jimmy Stewart.
Replies
4
Views
283
7.62willdo
7.62willdo
B
Need scope suggestions
Replies
2
Views
174
BamaSE
BamaSE
gunsnjeeps
Rock River Arms "Ultra" NM Triggers
Replies
12
Views
909
Swamplife
Swamplife
Top Bottom
Back