The total money makeover

[Tanishatheangel]

what do you guys think about Dave Ramsey he says good things stay out of debt, pay cash and try to do things right financially?

View: https://www.youtube.com/watch?v=pDFpqKbL6ZY

 

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[ZCP]

Read the books by @MJ DeMarco . It is covered.

 

[Greg R]

Oh Tanisha

 

[Philip Marlowe]

Dave's introductory stuff is actually great. Live within your means. Save money and eventually create an emergency fund of 6-8 months salary. I also always liked the debt snowball. Does paying off higher-interest debt make more sense? Sure. But if you're in a hole, I like the idea of quickly paying off small debt to gain momentum. He's the reason I even knew what an emergency fund was and why it was critical.

But that was 10 years ago.

Those basic tenets have morphed into a monster designed to separate you from your money. The live events, the books, the online subscriptions and tools.

If you need to get out of debt and learn to live within your means, Dave is good stuff and all the advice you need to do that you'll find for free. Any of Jack Bogle's books are similarly good for that topic. (Check out 'Bogleheads Guide to Investing')

Outside of those basics, his investment strategy is total slowlane. Live by Dave's word when you start, but then rapidly transition to guidance you find in something like TMF or Unscripted .

-PM

 

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[TheCj]

His book Total Money Makeover I think is the best in terms of laying out actionable steps and a plan to follow on how to handle your money on a basic personal finance foundation level. So pretty much 90% of the population would benefit.

It helped me focus on basic things and get out of debt. It really is defense side of money, which is important but can only help so much. For people overwhelmed with debt, payments on everything, the book will take you through it.

After the controlling your spending and getting out of debt, it does feel a bit of guru stuff in that Dave himself has amassed his wealth through his real estate business and book/self help business. Which he never goes into.

Eventually realize it is the income side that is the key, hence an Unscripted and Millionaire Fastlane mindset being more life changing.

 

[MJ DeMarco]

Live by Dave's word when you start, but then rapidly transition to guidance you find in something like TMF or Unscripted .

In other words, you get started by listening to what Dave SAYS, but you finish a winner by watching what Dave DOES.

His book Total Money Makeover I think is the best in terms of laying out actionable steps and a plan to follow on how to handle your money on a basic personal finance foundation level. So pretty much 90% of the population would benefit.

If one cannot succeed a slowlane (which requires discipline) then they won't succeed a Fastlane, Unscripted pursuit.

 

[socaldude]

There are a lot of great things about Dave.

But I disagree on a few things.

Like where he says you shouldn't have a FICO score.

Now, I hate the FICO score, I think its an inaccurate measurement of wealth and predictor of success.

But look at how our financial system has adopted it to things where you are not even borrowing money.

Hell, in the US you need a FICO score to open a Bank account, rent an apartment, get a job, and even get insurance.

 

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[Salama2017]

what do you guys think about Dave Ramsey he says good things stay out of debt, pay cash and try to do things right financially?

View: https://www.youtube.com/watch?v=pDFpqKbL6ZY

I've read it. It's a really good book if you are to get out of debt. I'm using the debt snowball method to pay off my some of my debts.

 

[Tanishatheangel]

thank you everyone