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Joined: Nov 2011
Posts: 22,603 Likes: 22
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 22,603 Likes: 22 |
Dave Ramsey threads on aldeer are the best.
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Joined: Nov 2015
Posts: 21,456
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,456 |
[You got it. As far as being "tight" with a dollar and avoiding debt , I have folks in my family I bet would make Dave Ramsey look like a rooky .
My FIL who is retired from the Army, did real estate for another 20 years sold his business, still owns several rental properties and restores tractors. Drives a 1980s Ford Ranger, lives in a small house, and still gets his cutlery and condiments from McDonalds. But when his grandsons said they want to hunt with him, he goes out and buys 160 acres just to hunt.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Joined: Jul 2010
Posts: 9,908 Likes: 2
14 point
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14 point
Joined: Jul 2010
Posts: 9,908 Likes: 2 |
Someone on here is always smarter than Dave Ramsey. Just wait.
Just wanted to check in.
No government employees were harmed in the making of this mess.
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Joined: Jul 2016
Posts: 2,620 Likes: 7
10 point
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10 point
Joined: Jul 2016
Posts: 2,620 Likes: 7 |
I don't think I am smarter than Dave Ramsey, but I don't understand his recommendation to pay off or avoid zero percent or low percent loans, and instead buying or moving from your savings. I use other people's money as much as I can. I could pay off both our vehicles if I wanted to do so, but both loans are at 1.6%. The worst account I have right now is double that return year to date, even with the lousy market performance this year.
I know a couple who had a Kubota loan at zero percent, and they took his recommendation to get rid of the payment. Pulled $15,000 out of savings to eliminate a $300 payment. That makes no sense to me, as the payoff was the same as the sum of the payments.
Another guy I know wanted a new truck, not a used truck. To avoid dealer/Ford financing at ZERO percent, he took over $50,000 from savings to buy the truck. Said he couldn't stand the thought of having a payment. Just thinking about him doing that made me a little nauseous, but to each their own.
Other things he recommends, like paying off credit cards and avoiding high interest loans are spot on.
Dave's philosophy is to avoid debt. His idea is that any debt is bad debt. I sort of agree in that line of thinking, but I'm with you on zero interest loans. I can get zero interest on practically anything from John deere and I take advantage of that. Even if my money is only earning 1% that's 1% that I'm making instead of spending. So I can't see the downside of zero interest loans, unless you're just buying something you don't need. Avoiding debt is the thing. He speaks against 0% loans to people that don't have the money to buy that item in the first place. It would be foolish if you had money to buy an item to take the money out of any interest making account and not go to a 0% loan. Always be able to pay it off though. He is trying to get people from gaining another payment on something they don't have the money to buy at the time.
"Hate is an acid that does more damage to the vessel in which it is stored, than the victim on which it is poured."
"Ego is the anesthesia that deadens the pain of stupidity."
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Joined: Jul 2011
Posts: 39,938 Likes: 130
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 39,938 Likes: 130 |
[You got it. As far as being "tight" with a dollar and avoiding debt , I have folks in my family I bet would make Dave Ramsey look like a rooky .
My FIL who is retired from the Army, did real estate for another 20 years sold his business, still owns several rental properties and restores tractors. Drives a 1980s Ford Ranger, lives in a small house, and still gets his cutlery and condiments from McDonalds. But when his grandsons said they want to hunt with him, he goes out and buys 160 acres just to hunt. Keep talkin', we's gonna be kin folks, 
"Why do you ask"?
Too many people spend money they don't have , on things they don't need, to impress people they don't know.
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Joined: Jul 2013
Posts: 5,198 Likes: 3
12 point
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12 point
Joined: Jul 2013
Posts: 5,198 Likes: 3 |
Money in a mattress is safe
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Joined: Mar 2018
Posts: 16,939
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,939 |
Money in a mattress is safe Till it burns up in a fire, id prefer buried jars 😀
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.
Ben Franklin
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Joined: Jul 2010
Posts: 9,908 Likes: 2
14 point
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14 point
Joined: Jul 2010
Posts: 9,908 Likes: 2 |
So all that doing without ends with eating a McDonalds Value Meal in a 35 year old truck with a free plastic fork? That's pretty much Dave Ramsey in a nutshell.
Dave Ramsey has great advice on how to get out of debt. I honestly don't disagree with much that he says in that regard.. However...At that point you should stop listening. His advice doesn't bridge the gap to anywhere else. If a 80's Ford Ranger is all you want that's ok. There is nothing wrong with that. But Dave can't tell you how to make more money. Only how to save what you make.
Nobody has a better plan to get out of debt. That is assured. I'd say the vast majority of American's would be well served to listen to the man's advice.
No government employees were harmed in the making of this mess.
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Joined: Aug 2003
Posts: 44,377 Likes: 28
Freak of Nature
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Freak of Nature
Joined: Aug 2003
Posts: 44,377 Likes: 28 |
I don't make enough to bother
LUCK:::; When presistence, dedication, perspiration and preparation meet up with opportunity!!!
- - - - - - - -A government big enough to give you everything you want, is big enough to take everything you have. Thomas Jeferson - - - - - - - -
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Joined: Nov 2010
Posts: 25,782 Likes: 66
Freak of Nature
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Freak of Nature
Joined: Nov 2010
Posts: 25,782 Likes: 66 |
So all that doing without ends with eating a McDonalds Value Meal in a 35 year old truck with a free plastic fork? That's pretty much Dave Ramsey in a nutshell.
Dave Ramsey has great advice on how to get out of debt. I honestly don't disagree with much that he says in that regard.. However...At that point you should stop listening. His advice doesn't bridge the gap to anywhere else. If a 80's Ford Ranger is all you want that's ok. There is nothing wrong with that. But Dave can't tell you how to make more money. Only how to save what you make.
Nobody has a better plan to get out of debt. That is assured. I'd say the vast majority of American's would be well served to listen to the man's advice. You're absolutely right about his advise. And my post earlier was Aldeer humor. We've in our household implemented many of his plans on debt. We just avoid it if by all means possible. But we also enjoy life and aren't so damn tight that makes us miserable. We just know what we can afford and I think a lot folks get in binds financially either from mismanagement or life things that happen beyond their control. Either way Dave Ramsey can help in those situations.
Proud Army and ALNG veteran
God Bless America!
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Joined: Jul 2012
Posts: 5,661
12 point
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12 point
Joined: Jul 2012
Posts: 5,661 |
I’m not claiming to be smarter than Dave Ramsey but I’ve never needed him to tell me how to manage my money or my debt. I try to save money and avoid debt, pay cash and avoid payments. However, when it comes to a NEW vehicle purchase I would borrow for 0% before I paid cash, that just sounds like a no brained to me. If something happened I’d like to have access to my cash in lieu of trying to sell a used vehicle to recoup what I could.
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Joined: Dec 2014
Posts: 9,111 Likes: 35
14 point
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14 point
Joined: Dec 2014
Posts: 9,111 Likes: 35 |
"I dont quit.. And ill fight alone if i have to"
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Joined: Jun 2016
Posts: 397
4 point
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4 point
Joined: Jun 2016
Posts: 397 |
There's not many true zero percent loans. The interest is usually built into the sale price.
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Joined: Oct 2013
Posts: 525
4 point
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4 point
Joined: Oct 2013
Posts: 525 |
If you're not eating rice and beans tonight for supper...
A. Your already debt free.
B. Or your not a true disciple..😀
Ramsey's advice is how I was raised before I ever heard of Ramsey. Somewhere my mom and dad still have ean old green ledger book where they logged every single thing they bought for the first 10- 15 years of their marriage.
As far as 0% loans, I got a bridge I'll sell ya, if you really think your not paying interest.
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Joined: Mar 2016
Posts: 338 Likes: 1
4 point
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4 point
Joined: Mar 2016
Posts: 338 Likes: 1 |
If you work his plan you will retire early and very well off. Also along the way you will become financial wise.
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Joined: Jun 2015
Posts: 15,383 Likes: 77
Old Mossy Horns
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Old Mossy Horns
Joined: Jun 2015
Posts: 15,383 Likes: 77 |
His plan is good for those that struggle with self control.
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Joined: Apr 2013
Posts: 4,329
10 point
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10 point
Joined: Apr 2013
Posts: 4,329 |
I did the Crown Ministry program at my church following my divorce. It got my finances back on track. My new wife & I did the Dave Ramsey Financial Peace Program and it pretty much is a lot like Crown. As of now we carry very little debt if any at all. We live more stress free concerning finances. I have friends who are so much in debt it's crazy. Like my Dad taught us as kids, there are needs and wants. Know the difference!!!
I came, I saw, so I killed them all......Vern
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Joined: Oct 2009
Posts: 7,068 Likes: 50
14 point
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14 point
Joined: Oct 2009
Posts: 7,068 Likes: 50 |
I'm not going to say borrowing money isn't the best choice sometimes, but the majority of the time its due to a lack of patience and self control. My wife and I have certainly had some disagreements when it comes to saving or spending, but after almost 30 years she tells me all the time how thankful she is we made the decisions we did.
Last edited by coldtrail; 09/09/20 06:28 PM.
"And the days that I keep my gratitude
Higher than my expectations
Well, I have really good days" Ray Wylie Hubbard
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Joined: Oct 2016
Posts: 289
4 point
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4 point
Joined: Oct 2016
Posts: 289 |
Dave " Know what you can do when you dont have any debt? Pretty much anything you want to"
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Joined: Jan 2014
Posts: 10,586 Likes: 2
Lucky Bastage
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Lucky Bastage
Joined: Jan 2014
Posts: 10,586 Likes: 2 |
His plan is good for those that struggle with self control. Right. I got into watching and listening to him recently for a while. I found that everything he recommends to do ( which are good practices ) are things that I already do and have done since I was 15 years old. Growing up dirt poor was the best way that I was able to learn respect money.
The fool tells me his reasons; the wise man persuades me with my own.
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