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» Dave Ramsey's Financial Peace University!!

From jgrindle40's workspace   

Dave Ramsey's Financial Peace University!!

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created by jgrindle40 on Jan 11, 2008 at 03:59:31 pm     Comments: 19

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Or put that $93 in the bank, eat Ramen noodles instead of fast food for a month, and live within your means. Cut your credit cards, clip coupons, buy used cars, shop at Goodwill, and grow your own vegetables.

Better yet, get a second or third job (I currently have six part-time jobs generating income, not counting blog advertising and the occasional freelance journalism piece - I kid you not), and put even more cash in the bank. Buy term life insurance instead of blowing money on whole life policies that pay fat dividends only to the salespersons. Get high deductibles on car and homeowners insurance, which lowers your premiums, and then drive/live safely.

Pay an extra $20 a month on your mortgage. Stay away from insurance plans on appliances and electronics - if it's a lemon, it will be a lemon in the warranty period. Develop a budget and stick to it; better yet, cut entertainment and frivolous expenses until your situation improves.

Rent a $1 video and pop your own popcorn instead of dashing out to the theater for a $12.50 Director's Chair new release. Share CDs with friends and burn a copy instead of dashing out and buying every new disc you fancy. Even better - become a regular at your local public library, where there are tons of new releases in music, film, and books. ALL FREE!

It's really not rocket science, folks, and Dave Ramsey has already made millions from people buying his DVDs, MP3s, audios CDs, books, software, kids' toys, and coupon holders as a result of attending his seminars. He's a smart businessman, but Ramsey does not hold any monopoly on common sense.

Or ignore me, and go shell out the dough for Ramsey's pitch at the "university" seminars. Just watch out for the sales pitches for all the Ramsey accoutrements, or else you'll be further in the hole with all the extras you buy.

Oh wait, I forgot: Dave Ramsey does this simply because he cares about you. Sheesh. I'm such a cynic.

posted by historymike on Jan 11, 2008 at 07:03:09 pm     #

I'm not one to criticize:) , so I'll let the wikipeds do it.

http://en.wikipedia.org/wiki/Dave_Ramsey#Criticism

* Ramsey has been criticized in financial circles for offering simplistic solutions to "complex" financial issues. [16]
* Ramsey has occasionally been criticized for perceived arrogance, right-wing political views or perceived inaccurate financial advice.³
* The Nashville Scene has reported that Ramsey occasionally receives e-mails and letters containing the Biblical verse, "Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.'” (Matthew 19:24 NIV) which he sees as a rebuke of his wealth and a call for poverty.³
* In 2004, Ramsey's column was dropped from The Tennessean and four other newspapers owned by Gannett, Co. after it was discovered that the identities of those seeking help were falsified in several of his columns. A Lampo executive vice president attributed the duplications to a young former employee who was in charge of selecting and editing the column questions and answers, and said employee had since left the company. Despite claiming to not have made the mistake himself, Ramsey accepted responsibility for the error and offered refunds to the newspapers affected by the error.¹⁷
* Some consider Dave Ramsey a hypocrite for accepting Visa and Mastercard on his web site to purchase his materials. He states on the page clearly that he takes the debit card and is unable to not take the credit versions due to the "Visa and Mastercard virtual monopoly on the debit card industries prohibits merchants from only taking debit cards" and that anyone who goes against the debit card policy is a "shady and dishonest character".¹⁸

And even more importantly about Ramen:
Ramen has no MSG, but the seasoning packets do.

posted by charlatan on Jan 11, 2008 at 07:31:56 pm     #

More criticism of DR - "Dave Ramsey is Bad at Math"

posted by historymike on Jan 11, 2008 at 07:41:27 pm     #

A post about the hypocrisy of Dave Ramsey's claim that he does not accept credit cards.

posted by historymike on Jan 11, 2008 at 07:43:18 pm     #

Financial advisers criticize Dave Ramsey's "incorrect information" on investments.

posted by historymike on Jan 11, 2008 at 07:48:45 pm     #

More criticism of Dave Ramsey's huckster tactics.

posted by historymike on Jan 11, 2008 at 08:00:02 pm     #

Even more criticism of Dave Ramsey's sales pitches.

posted by historymike on Jan 11, 2008 at 08:03:28 pm     #

I thought I would offer the above links as a balance to what appeared to be blatant Dave Ramsey spam. I have no axe to grind against Dave Ramsey per se, but in general I think people would be better off using the common sense they already possess than to keep flocking to these get-rich-quick or achieve-financial-success seminars. Ramsey is just the latest in a long line of hucksters selling people knowledge they already have.

Besides, you can listen to his show for free if you absolutely must devour every nugget that drips from Dave's lips.

"Financial peace" has more to do with personal responsibility, rational decision making, and ignoring impulse desires to purchase frivolous or duplicate goods than it does with buying books and CDs that tell you what you have already learned from Mom, Dad, Grandma, and Grandpa.

Or what you should have learned from your wise relatives, had you not been such a rebellious idiot as a teenager.

(historymike now slinks off to avoid the holy arrows from the TRUE BELIEVERS of the GOSPEL OF DAVE RAMSEY)

posted by historymike on Jan 11, 2008 at 08:12:10 pm     #

Mike you're killing me. Now you're NOT going to tell me this guy is a sham!
http://www.tonyrobbins.com/Home/Intro.aspx

posted by justareviewer on Jan 11, 2008 at 08:40:17 pm     #

No Tony Robbins discussion would be complete without this Family Guy reference:

TONY ROBBINS HUNGRY

Add to My Profile | More Videos

posted by historymike on Jan 11, 2008 at 10:54:05 pm     #

This thread couldn't be any more timely. My mom tried to get me to sign up for his classes, and we actually got into a bit of a fight over it. My problem is that it's a repackaging of things that people already know. Balance a checkbook, cut up the credit cards, cut back on luxuries. Start a 401k. I don't need to pay someone $93 to tell me these things.

(Spoiler alert: Cash your paychecks and put the bill money away in envelopes! Revolutionary? No, my stepdad was doing that in the 1990s.)

The problem isn't in the knowledge, it's in the actions. I'll freely admit that my wife and I get too loosey-goosey with our money, and it's bit us in the ass. We're trying to get better, but spending that kind of money doesn't seem like much financial sense.

Keep in mind: He's a salesman. Is he good-hearted? Possibly. But he's still a salesman.

posted by TheTalentedMrC on Jan 11, 2008 at 11:02:56 pm     #

So people duped by salespeople/marketeers taking their money are duped by salespeople helping them to save money?

I'm gonna market my miracle weight-loss, anti-depressant, secret ingredient in good beer/wine/coffee... it's called filtered water, but I'll water it down to make more money. Any venture capitalists? I'll probably need a good patent lawyer. OK a great one.

posted by charlatan on Jan 12, 2008 at 01:58:53 pm     #

One hundred dollars so some rich guy can tell me to live within my means?

...

I'm sorry, but I'm not THAT pathetic. I've noticed that five and one-half pounds of brain work just fine when you let 'em.

Alas, it appears David Ramsey has found Toledo a rich environment for suckers.

posted by GuestZero on Jan 12, 2008 at 10:19:44 pm     #

How about "self-proclaimed" financial expert Suzie Orman ?

A few weeks ago, she was on PBS-television, asking PBS supporters to drop more than $200.00 for a collection of Suzie Orman DVD's, books, cd's, access to a website, et cetera.

posted by WalterAnthony on Jan 13, 2008 at 01:42:46 am     #

If Orman's such a financial expert, why does she need your money? You'd think by now her savvy stock picks would have resulted in so much financial gain that she'd be set for life.

posted by GuestZero on Jan 13, 2008 at 10:36:21 am     #

Pay off your 30-yr. mortgage in just 2 years!
http://www.mydebtfreeplan.com

posted by justareviewer on Jan 13, 2008 at 01:23:24 pm     #

What he really wants, is for people to give him money for his advice and "Help him pay off his 30-year mortgage in 2 years."

posted by WalterAnthony on Jan 13, 2008 at 02:51:28 pm     #

What scares me the most about the Davers is how ferverant they are. They really do elevate him to a god-like status. Does he serve kool-aid at these workshops?

posted by taxiang on Jan 14, 2008 at 10:00:43 am     #

If Dave Ramsey's courses and books and radio show present such obvious principles that we don't need to buy his courses or books, then why are Americans up to their necks in debt and have a negative saving rate? Sure, he might be stating what we already know is true, but the huge favor he is doing for all of us is telling us how to overcome the feelings of helplessness and the stigma that come with having huge amounts of debt and how to get out of it--and how to have a financially stable future so we can live more secure lives.

I'm 37, been married just over eight years with a 14-year-old stepdaughter. My wife and I are both emotional spenders, and we came into our marriage with well over $10,000 in credit card and other consumer debt between us, with creditors knocking on our door, and we were paralyzed with fear about having that debt and not knowing what to do with it except ignore it. The first three years of our marriage were hell because of the financial mess we were in and the fights we had because of it, and we had no idea what to do about it, then a friend of mine gave me one of Dave Ramsey's books. Sure, it seems obvious after the fact that all you have to do is spend less than you earn, pay off your bills and start to build up a financial base for "rainy days" as well as for retirement. So as common-sense as this is, why are so many Americans so deep in debt, especially credit card debt, and since they are carrying so much debt, how is it bad if Dave Ramsey comes along offering them a coherent, workable plan to get out of debt and stay out? The $93 for his Financial Peace University is a drop in the bucket compared to what the average family spends on entertainment in a month--I know, because my wife and I did the calculations from our own budget, and between the two of us and our daughter, we were spending double that per month just for basic entertainment (I'm counting cable TV, eating out, etc. in this), so to say that it's wrong to pay $93 for a course that shows you how to get out of debt and have a sense of security about your future is just plain stupid. My wife and I have about 30 years until retirement. We can either keep living like "average Americans" spending too much money on things that won't benefit us either now or down the road, or we can spend less, save more and not worried that we'll be living in poverty in our retirement years. If it's wrong for us to think about the future and to start planning ahead, then I hope you'll help support us in our old age because we did stupid things now when we could've listened to wise counsel and been much better off.

Dave Ramsey's materials are a godsend.

posted by managingmoney on Feb 05, 2008 at 08:34:06 pm     #

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