Unpopular Opinion: I don't like Dave Ramsey

[KsRancher]

I have been listening to a lot of his you tube videos recently. I hear him talk about NEVER going debt to start a business. How in world would a person who wants to start a business like mine (logging) ever do if without borrowing. I would have had to wait 20yrs before I would have saved enough to buy the very minimal things to log. It just doesn't work like that.

 

[*zap*]

Never take advice from someone who tells you how to put your life in order and their life is grossly overweight.
Seems logical to me.

 

[1234AveA]

I have been listening to a lot of his you tube videos recently. I hear him talk about NEVER going debt to start a business. How in world would a person who wants to start a business like mine (logging) ever do if without borrowing. I would have had to wait 20yrs before I would have saved enough to buy the very minimal things to log. It just doesn't work like that.

He’s preaching to the 8-5 W2-ers out there that need absolute facts to follow in order to be successful longer term. I don’t think his thoughts work well for most business owners.


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[displacedtexan]

He’s preaching to the 8-5 W2-ers out there that need absolute facts to follow in order to be successful longer term. I don’t think his thoughts work well for most business owners.


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Most businesses owners were 8-5 w2 guys before they took on debt to start a business.

 

[fwafwow]

I feel like stirring this pot.



Both of the above quotes make a solid point. Dave Ramsey is a social media influencer who failed at a real business, but became wealthy selling a product about how to succeed.

When a person's only success is selling the story of their success, you have to stop and question if they are who you want to be. Especially when that person uses religion to bully those who disagree.

I prefer no debt, it has to do with risk tolerance, but odds are I would be much better off if I had bought property, rather than renting for years. I'm certainly better off financially due to taking on student loans a few years back. Having a car loan, both times, has been a good choice. I'm glad to have a mortgage rather than paying a landlord now too.

However, I'm working on getting rid of my debts more aggressively than many recommend here because it opens up an easy of movement that I miss.

In the end, people have to decide what matters to them, then pursue it without being a fool in their methods. Life is too complex for a one method fits all.

Well said.

DR doesn’t provide the most optimal investment and planning advice. But most folks in the bottom 80% would benefit from following his instructions.


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He’s preaching to the 8-5 W2-ers out there that need absolute facts to follow in order to be successful longer term. I don’t think his thoughts work well for most business owners.


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I get that lots of his advice can help many people. What I don’t understand is why the portions of his advice that some (myself included) believe is wrong, incomplete or subject to debate couldn’t be handled differently. Or at least that the nuance is addressed.

Maybe there is room for Marbles to start a competitive podcast.

 

[Coopsdaddy]

In a nutshell your first post sums it up.
His advice isn’t for people with a hold on their finances.
His advice is simple and dumbed down for people who don’t.

 

[Marbles]

I get that lots of his advice can help many people. What I don’t understand is why the portions of his advice that some (myself included) believe is wrong, incomplete or subject to debate couldn’t be handled differently. Or at least that the nuance is addressed.

Agree. An example of agreement with Ramsey in my case is I have played around with a debt calculator and for my debt prefer the snowball method over the avalanche, the total difference in interest paid is too small vs the psychological advantage of seeing loans disappear faster (and the security of having smaller monthly expenses as payments go away). If all my debt didn't fall in the 2-5% range, it could be very different.

As a good tool for anyone interested:

Debt Destroyer

Maybe there is room for Marbles to start a competitive podcast.

Please, no.

I could only become a charlatan. Even in areas where I might have something worth saying, just trying to set out with the intent of saying it starts an ugly transformation in my thinking. For me it is better to step back and accept being silent if the situation doesn't flow. (For those who find me verbose on here, just imagine how much worse it world be if I cut loose the other 2/3rds).

Finances are well outside my scope, as with every adult, I have to deal with my own finances and try to make informed decisions. But, those decisions are tailored to me, for my temperament and situation and family needs and my families temperament.

Also, just look how wordy this reply is, when 2 words and an emoji would have sufficed, and now, for a 5 hour podcast on how to stay out of debt while buying everything with a credit card, and the times when you shouldn't......

Buy the way, anyone have experience with M12 laser levels? I really want one for hanging pictures once a year and SQUIRREL!!!