Wisdom from Dave Ramsey

[Gardenlover]

Keep perspective right now.

In the long term, things will be fine. DO NOT cash out your investments.

Don't solve a short-term problem with a long-term disaster....

 

[macgeek]

Been following Dave's baby steps about ten years, great advice. It's the stuff we should have been taught in school about money and finances but never were. Its not to late to follow his financial advice. Baby Steps.

 

[fuzzybuddy]

Dave says to save money for an emergency fund, pay off all your debt, pay off your house, save for college, build wealth and give. It's good advice, paying off debt is obvious, but there is just one tiny flaw- and that is where do you get the funds to do all that saving and paying off?

 

[Carymeaway]

Dave says to save money for an emergency fund, pay off all your debt, pay off your house, save for college, build wealth and give. It's good advice, paying off debt is obvious, but there is just one tiny flaw- and that is where do you get the funds to do all that saving and paying off?

It depends on what you have. Usually he recommends getting a PT job or working OT, garage sales, selling online. creative income. Selling vehicle with high car loan on it, drive a beater, pay off your mortgage, I'm not so sure it works as well if one is already retired, he does tell people to do this so they can be comfy in the rest of their lives.

 

[Lewkat]

Dave's primary audience are millennials. He is teaching them how to get out of whatever debt they have now and avoid future debt. No credit cards, old cars, etc. I've listened to him and read him and he makes a good deal of sense. The kids should definitely listen to him.

 

[macgeek]

but there is just one tiny flaw- and that is where do you get the funds to do all that saving and paying off?

a job if you're working.... or retirement income if retired... everyone can benefit from his plan, saving and paying off debt. I wish I knew this stuff when I was in my 20s... could have avoided so many mistakes with money.