Skip to comments.TEN THINGS DAVE RAMSEY GOT WRONG
Posted on 03/03/2011 5:52:49 AM PST by TheSentry
(Excerpt) Read more at badmoneyadvice.com ...
Dan Kerr et al:
RE: The INCESSANT RAMSEY AD BLITZ
on 710-KCMO AM RADIO
Every hour 24/7 on 710-AM radio we hear
"EH FOLKS DAVE HERE ! "
Usually MANY TIMES PER HOUR !
"EH KANSAS CITY DAVE HERE"
This AM was the perfect example of
He's NOT a FINANCIAL ADVISOR !
At 8:45 AM, (check your on-air record)
this AM, it's time for "THE RAMSEY FINANCIAL MINUTE" of NO HELP
The caller, a small biz owner, asks for tax shelter advice.
Ramsey hems & haws around,
---> "Well, you could get a little 401K or a Roth, but that wouldn't
help with taxes. There isn't much out there for small businesses."<---
Is this the HUGE EGOTIST DAVE RAMSEY, FINANCIAL EXPERT, WHO IS SO FAR
ABOVE US THAT HE CONSIDERS US TO BE
intellectual "BABIES" ?
Condescendingly, he tells us to
"take the BABY STEPS" he recommends.
EH FOLKS ! DAVE RAMSEY HERE !
EH KANSAS CITY...DAVE HERE !
EH...DAVE HERE !
S T O P THIS DAMNED AD BLITZ
OF the hypocrite Ramsey w/extra AD bytes where he damns GOLD as an
Here comes "EH DAVE HERE FOR MY FRIENDS..." who buy your gold !
His SOLE claim to financial expertise is HIS PERSONAL BANKRUPTCY !
That's insane !
Would you want advice from a doctor who's made the MOST MISTAKES ?
A N Y O N E with common sense can tell
people to PAY OFF YOUR DEBTS &
BUDGET YOUR INCOME.
Ramsey is NO EXPERT !
Anyone who stuffs money in his pocket for a radio AD is his
"FRIEND" ? Prostitution ? Cash is king, HUH ?
Warren Buffet doesn't THINK SO !
Again, he says buying gold is STUPID, YET "HIS FRIENDS" who pay
him to do ADs for them are in the GOLD BUYING BIZ.
ARE HIS "FRIENDS" S T U P I D ???
We can't listen to 710 any more at work
due to your B L I T Z of
OBNOXIOUS RAMSEY ADs !
GET these ADs
OFF OF THE AIR NOW !
I write this on behalf of the millions of FORMER 710am LISTENERS in
Kansas City + myself.
Mr. Kerr, just TRY to listen to 710AM.
Tell me you're not annoyed.
I listened to him a few times on FBN and kept getting the feeling I was listening to a hustler..I know many people have used his principles to get out of debt etc. but I don’t trust him one bit.
I’m in the biz of running money, and I don’t think Mr. Ramsay ought to be handing out investment advice.
God knows, there’s plenty of bad advice out there - he should not add to it.
At one time The Jaguar Dealer was running ads on the DR Show in Jackson MS. Just what every broke person needs a preowned Jag.
There's a saying I heard... I don't remember where it comes from or who said it first, that explains this:
If you want to get rich, sell to the poor. If you want to get poor, sell to the rich.
I'm guessing it has to do with the fact that a poor person is more willing to finance a used Jag (and pay a ton more money over time in the process) than a rich person.
OK, so Dave and his wife had problems with credit cards in the past, that doesn't mean that other people can't use them successfully as one of many financial tools.
The lesson is, to do what ever you can to make it work that fits your own situation. And no two are alike. Those of us who have been successful at it, learned what to do on our own. It is pretty much like getting rid of an addiction, it only works when the addict is determined to do it for themselves, without demanding outside help to do it for them.
I trust him because he is up front about it. There is no magic formula, it’s hard work, it’s a struggle, and getting out of debt will happen if you take the steps needed.
Dave Ramsey is not telling people how to get rich.
He’s telling them how to get out of debt.
That’s the difference. He has been there. He has made the mistakes. Now he is earning a living by using his experience and his method to teach people how to get out of debt.
Yes, most of what he teaches is common sense, but people who are deep in debt often don’t have that common sense, and he gives it in a way that helps many people.
You can pick at anything and find flaws. Or you can look at results. I know of 6 families that have used the Dave Ramsey method and are on their way out of debt.
One has gone from $40,000 in credit card debt to less than $10,000 in credit card debt in 5 years. They see the light at the end of the tunnel, where before they saw nothing but catastrophe. They did it by the “baby step” method. (Their Church hosted the first sessions and paid for their materials).
So where you might see a hustler, I see someone who has helped save families from self-destruction.
That didn’t make any sense
That made no sense whatsoever.
i dunno, I’ve always viewed him as the kid who shouts that the emperor has no clothes, which is what a lot of people living in the rut need.
The CSS is wrong, and the objections quite petty.
Ramsey’s plan turns the tables on what we believe about money. We tend to use debt for “emergencies” and big ticket items. Ramsey says to use savings for those instead. Most people are reluctant to use savings because it is “their” money. They don’t realize it is better to pay yourself than someone else.
That’s why so many people are in debt.
Explain to me how paying 20% to 30% interest for something you think you need now can be a successful financial tool for anyone other than the credit card company.
Let me tell you what Dave Ramsey is selling. He is selling the very rare commodity of Common Sense and peace of mind. If you don't want that, or don't need it, then don't listen to him. Wow, how hard is that?
Every so often this anti Ramsey commentary pops up here. Here is a simple point: if you don’t believe in his advice, don’t listen. His advice seems to follow a few basic themes:
Don’t borrow, don’t get involved in addictive behavior, don’t live for today and not worry about tomorrow. Sounds like sound advice to me.
Do I buy his materials, no. Do I promote his stuff, no. Do I follow all his advice, no, not all. His theme is kind of moralistic, which is not evil. One point I don’t follow is the advice to not charge anything, even if one is paying off the cards each month, assuming they will get some benefit like a cash return. That is what I do.
So, I listen to his show for the entertainment value which is what it is, it is a talk show. I don’t plan on paying to attend an event, I hate going to the circus.
Dave forgets to tell people after 5 years of rice and beans to become debt free, you have another 5 years of rice and beans to gain any wealth. Can’t stand his silly laugh.
Well that would not be an example of "successful" use of the financial tool, would it?
Now, what would you think about using a card with 7.9% interest for a few months as a "bridge loan" between the renovation of a new home and the sale of the old home. This at a time when the cost of getting a HELOC or personal loan would be a higher interest rate or incur loan set-up costs?
Credit cards are a tool, just like a table saw. Can you seriously maim yourself with a table saw? Yep. Should you never, ever use a table saw? Nope, sometimes it's the right tool for the job; just be careful.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.