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Forum » Anyone here follow Dave Ramsey?
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Thread: Anyone here follow Dave Ramsey?

post 1691177343 10-05-2023, 01:39 PM
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#31
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Originally Posted By eddiehaskell⏩
i don't know what that is but in my entire life my grandparents and parents never made a payment to anyone for a car...or anything really. my grandpaw for example bought a new buick regal in 1987 and paid cash...then a new buick century for like $12k in 2000. parents bought the same types of cars new or very slightly used paying cash.
Free cash flow (FCF) is the cash a company generates after taking into consideration cash outflows that support its operations and maintain its capital assets. In other words, free cash flow is the cash left over after a company pays for its operating expenses (OpEx) and capital expenditures (CapEx).

Essentially by focusing on that my life became a lot easier.

That is great for later on in your career. Paying cash for cars is smart however...

John Smith 22 year old fresh out of college graduate making 60k per year has $5,000 for a car.

Using DR rule you would spend that 5k on a car hoping it doesn't break down.
Using the 20/8/3 year rule you would buy a used car at 18k on a 3 year loan paying 5k and financing 13k.

The DR method cost more for me 3/4 times and I was driving a POS 4/4 times.
post 1691177503 10-05-2023, 01:44 PM
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#32
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Originally Posted By ChingonGuero⏩
Dave Ramsey is to personal finance as Sean Hannity is to politics. He keeps people hooked into the consoomer mentality... Step 1 - go to college get a degree and incur student loans; Step 2 - buy a house, get a mortgage; step 3 - have a bunch of credit cards; step 4 - be a good little debt slave and make all your payments on time; step 5 - attain happiness and fulfillment through material wealth. If I had his platform I would be teaching people to avoid being a slave to the debt j*w, only buy what you can pay cash for, and seek God.
What you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.
* Rawdog crew * Creampie crew * Poverty crew *

Haven't worn a condom since middle school crew

* HTC crew *
post 1691178423 10-05-2023, 02:06 PM
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#33
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Been following Dave since 2016. I had a bunch of money out in different places but decided to throw it all at the mortgage. Sure doing the math on a low interest loan you can theoretically make more investing it elsewhere, but the security of having no mortgage or payments hits differently. I've had my best year in my career this year and the money is now mine to do with what I see fit. Kids college funds are solid, retirement is fully funded (both 401k & IRAs). Many financial gurus will argue that Dave's teaching isn't the most efficient but even Dave admits that.
Not 53, BB profile won't update. Currently 37.
post 1691178693 10-05-2023, 02:11 PM
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#34
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Originally Posted By hockystudd17⏩
Been following Dave since 2016. I had a bunch of money out in different places but decided to throw it all at the mortgage. Sure doing the math on a low interest loan you can theoretically make more investing it elsewhere, but the security of having no mortgage or payments hits differently. I've had my best year in my career this year and the money is now mine to do with what I see fit. Kids college funds are solid, retirement is fully funded (both 401k & IRAs). Many financial gurus will argue that Dave's teaching isn't the most efficient but even Dave admits that.
good job main. people go most of their life not knowing that debt free feeling with your small bills like utilities on autopay
post 1691200683 10-06-2023, 12:40 AM
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#35
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Originally Posted By Visel⏩
I would buy a house next year, but I refuse with 8%+, or even 5%+ interest rates. I'd rather just save money and buy a house in full in my mid-late 30's.
Or just buy when the market is low. If there's no emergency just be patient but be cash ready to pounce on a great deal. Local guy just got fed up with evictions here and posted a $130k rental for $30k cash. It's rough, but has lake access. I think if you threw in another 20K you could flip it for around 100.

In my state you have to "occupy" it for 3 years to avoid exorbitant investor taxes, but you could ... well figure that out.
Originally Posted By hockystudd17⏩
Been following Dave since 2016. I had a bunch of money out in different places but decided to throw it all at the mortgage. Sure doing the math on a low interest loan you can theoretically make more investing it elsewhere, but the security of having no mortgage or payments hits differently. I've had my best year in my career this year and the money is now mine to do with what I see fit. Kids college funds are solid, retirement is fully funded (both 401k & IRAs). Many financial gurus will argue that Dave's teaching isn't the most efficient but even Dave admits that.
Paid both kids tuition in cash. *edit, don't have a kids college fund, it will reduce their financial aid. We didn't save up or anything. When you don't have any payments for car notes, CC's, mortgage etc it's pretty amazing what $2,500 a week income can handle. And that's not even a great income these days.

Tell you what pisses me off is the taxes. In my state I get a tax bill for something every other month then the federal takes 20% off the top, if they are feeling nice, if not they grab 30%.
Don't put that on me Ricky Bobby, don't you ever put that on me.
post 1691201223 10-06-2023, 01:11 AM
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#36
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Ramsey is about stability. He realizes that debt is a problem for most people and most can't afford a serious loss.
post 1691201323 10-06-2023, 01:24 AM
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#37
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Master of the good little blue pill debt slave life.

Don't let it be you.
post 1691201353 10-06-2023, 01:26 AM
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#38
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His advice is almost exclusively focussed on reducing expenditure and virtually nothing on increasing income. The closest he comes to that is simply working more hours in more jobs, which for many people is unattainable and in any case is a strategy that is by definition limited by the number of hours in the day.

Obviously it’s a far better strategy to work on building your income earning capacity (which has unlimited upside), as opposed to cutting expenses (which has hard limits). But he’s not in the business of helping people, he’s in the business of selling advice to idiots.
post 1691201413 10-06-2023, 01:39 AM
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#39
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Originally Posted By r32gojirra⏩
His advice is almost exclusively focussed on reducing expenditure and virtually nothing on increasing income. The closest he comes to that is simply working more hours in more jobs, which for many people is unattainable and in any case is a strategy that is by definition limited by the number of hours in the day.

Obviously it’s a far better strategy to work on building your income earning capacity (which has unlimited upside), as opposed to cutting expenses (which has hard limits). But he’s not in the business of helping people, he’s in the business of selling advice to idiots.
how is he supposed to help millions of people increase income specifically? from what i've heard in clips he just asked for their income, debts, etc. for example a dude that's a cop with a wife that's a teacher call in and tell their situation asking for advice. never heard him tell anyone to avoid working on increasing their income.

bottom line...decreasing expenses and not carrying debt is a tried and true way for people to get ahead...and it can be done while simultaneously doing whatever you're capable of doing to increase income.
post 1691201473 10-06-2023, 01:48 AM
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#40
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Originally Posted By eddiehaskell⏩
how is he supposed to help millions of people increase income specifically? from what i've heard in clips he just asked for their income, debts, etc. for example a dude that's a cop with a wife that's a teacher call in and tell their situation asking for advice. never heard him tell anyone to avoid working on increasing their income.

bottom line...decreasing expenses and not carrying debt is a tried and true way for people to get ahead...and it can be done while simultaneously doing whatever you're capable of doing to increase income.
It's like saying the way to get laid is to have a sense of humor and just be yourself. Worked for lots of guys in the past, right? It's an outdated, ignorant view that completely ignores the reality of what's really happening.

The cost of living is only going up and what do you think is going to happen to wages with automation and AI eliminating tens of millions of jobs in the future? It's reckless to assume you'll be able to save your way into retirement or even security, the way things are headed.
post 1691201553 10-06-2023, 01:57 AM
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#41
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Originally Posted By ErnieMccracken⏩
It's like saying the way to get laid is to have a sense of humor and just be yourself. Worked for lots of guys in the past, right? It's an outdated, ignorant view that completely ignores the reality of what's really happening.

The cost of living is only going up and what do you think is going to happen to wages with automation and AI eliminating tens of millions of jobs in the future? It's reckless to assume you'll be able to save your way into retirement or even security, the way things are headed.
you obviously can't control for all variables about what the future holds. some things are out of your control. if you can't save/invest your way to security than pray tell how you actually do it?
post 1691201563 10-06-2023, 01:57 AM
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#42
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Dave Ramsey inspired me when I had financial issues, but honestly his advice is just meme tier.
390 back squat
285 bench press
500 deadlift (I don't DL anymore)

"It's not about how much you lift. Its about how much it looks like you lift"
post 1691201613 10-06-2023, 02:01 AM
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#43
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Originally Posted By eddiehaskell⏩
how is he supposed to help millions of people increase income specifically? from what i've heard in clips he just asked for their income, debts, etc. for example a dude that's a cop with a wife that's a teacher call in and tell their situation asking for advice. never heard him tell anyone to avoid working on increasing their income.

bottom line...decreasing expenses and not carrying debt is a tried and true way for people to get ahead...and it can be done while simultaneously doing whatever you're capable of doing to increase income.
I could explain it to you but you are too set in your ways and lack the intelligence to understand the response.
post 1691201623 10-06-2023, 02:03 AM
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#44
  1. ErnieMccracken
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Originally Posted By eddiehaskell⏩
you obviously can't control for all variables about what the future holds. some things are out of your control. if you can't save/invest your way to security than pray tell how you actually do it?
Wealthy people focus on revenue, generating more and more, faster than it can be gobbled up by inflation, taxes, and corruption. And they don't work wagie jobs for chit pay. They focus on capturing other people's labor and buying income generating assets. The goal is to make money from wagies, not be one for the rest of your life.

I tell people the #1 goal in life should be to not have to trade your time for money. You'll most likely be working poor forever that way. Every single financial decision you make should be framed through the lens of "how does this help me get out of the working poor class and into the ownership class?"
post 1691201653 10-06-2023, 02:04 AM
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#45
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Originally Posted By r32gojirra⏩
I could explain it to you but you are too set in your ways and lack the intelligence to understand the response.
hittin' the bong and talking gibberish...story of your life. you'll never be dave at this rate.
post 1691201703 10-06-2023, 02:06 AM
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#46
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Originally Posted By eddiehaskell⏩
hittin' the bong and talking gibberish...story of your life.you'll never be dave at this rate.
Exactly. If there were any risk of that happening I’d rope.
post 1691201733 10-06-2023, 02:08 AM
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#47
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Originally Posted By ErnieMccracken⏩
Wealthy people focus on revenue, generating more and more, faster than it can be gobbled up by inflation, taxes, and corruption. And they don't work wagie jobs for chit pay. They focus on capturing other people's labor and buying income generating assets. The goal is to make money from wagies, not be one for the rest of your life.

I tell people the #1 goal in life should be to not have to trade your time for money. You'll most likely be working poor forever that way. Every single financial decision you make should be framed through the lens of "how does this help me get out of the working poor class and into the ownership class?"
^^^this

Also I would add, the less qualified you are, the higher the marginal returns to education.

A high school graduate will increase their earning capacity more with an additional year of education compared to someone who already has a doctorate.

So somewhat ironically, this advice actually applies more to the working classes than the wealthy.
post 1691201773 10-06-2023, 02:10 AM
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#48
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Originally Posted By ErnieMccracken⏩
Wealthy people focus on revenue, generating more and more, faster than it can be gobbled up by inflation, taxes, and corruption. And they don't work wagie jobs for chit pay. They focus on capturing other people's labor and buying income generating assets. The goal is to make money from wagies, not be one for the rest of your life.

I tell people the #1 goal in life should be to not have to trade your time for money. You'll most likely be working poor forever that way. Every single financial decision you make should be framed through the lens of "how does this help me get out of the working poor class and into the ownership class?"
you do realize that the vast majority of a country with 300+ million people aren't the "wealthy" you speak of, right? everybody would like to be, but fact is -- it's just not realistic. what does get into the ownership class mean to a guy that's a cop and his wife that's a teacher?

and from what i can tell, dave made chit loads of money from real estate...even suggests doing it on his website when i googled it
post 1691201943 10-06-2023, 02:22 AM
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#49
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Originally Posted By eddiehaskell⏩
you do realize that the vast majority of a country with 300+ million people aren't the "wealthy" you speak of, right? everybody would like to be, but fact is -- it's just not realistic.what does get into the ownership class mean to a guy that's a cop and his wife that's a teacher?

and from what i can tell, dave made chit loads of money from real estate...even suggests doing it on his website when i googled it
Well since those are literally 2 of the lowest paying jobs imaginable, what do you think they should do, genius?
post 1691202023 10-06-2023, 02:26 AM
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#50
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Originally Posted By r32gojirra⏩
Well since those are literally 2 of the lowest paying jobs imaginable, what do you think they should do, genius?
Listen cheech...i picked those random jobs because they represent a better than average income for most married couples -- $80-125k+.

your solution to "just make more money brah" is childish when addressing 300+ million people.
post 1691202053 10-06-2023, 02:29 AM
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#51
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Originally Posted By eddiehaskell⏩
Listen cheech...i picked those random jobs because they represent a better than average income for most married couples -- $80-125k+.

your solution to "just make more money brah" is childish when addressing 300+ million people.
Yeah specialisation, returns to education, labour productivity and economic progress in general are childish.

Idiot.
post 1691202093 10-06-2023, 02:31 AM
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#52
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I have no idea who David Ramsey is


But just lol at the college loans thing


I went to psu for almost 9 years, loved every second and only owed 55k


Which it would appear was forgiven because service because I tried to log into my account and it said I didn’t have one


I’ll probably never have a mortgage and especially the way things have been going w Sandusky banks?

I don’t know


post 1691202133 10-06-2023, 02:32 AM
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#53
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Originally Posted By r32gojirra⏩
Yeah specialisation, returns to education, labour productivity and economic progress in general are childish.

Idiot.
wut are you tokin on tonight?
post 1691202153 10-06-2023, 02:36 AM
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#54
  1. r32gojirra
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Originally Posted By eddiehaskell⏩
wut are you tokin on tonight?
Sorry for using big words you don’t understand but I can’t dumb it down any more than that.

Does kind of make my point quite neatly though.
post 1691202183 10-06-2023, 02:37 AM
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#55
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Originally Posted By r32gojirra⏩
Sorry for using big words you don’t understand but I can’t dumb it down any more than that.

Does kind of make my point quite neatly though.
you mad now
post 1691202253 10-06-2023, 02:43 AM
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#56
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Originally Posted By eddiehaskell⏩
you mad now
Why use big word when small word do trick
post 1691202313 10-06-2023, 02:45 AM
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#57
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Originally Posted By r32gojirra⏩
Why use big word when small word do trick
now our economics guru is fixated on "big words" and "small words"....on the misc...with someone he's declared 15 minutes ago as not being worth his time...can't make this up
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