Reply
Member
NasaMike
Posts: 22
Registered: ‎11-18-2008
0

Dave Ramsey

Have any of you heard of or listened to the speaker Dave Ramsey or his Financial Peace University series?  What do you all think?  Quite frankly, I'm at my witts end with CC's and want a life without debt... debt to anyone except a mortgage payment for a while?

 

Thanksall

Super Contributor
marty56
Posts: 5,696
Registered: ‎10-06-2007
0

Re: Dave Ramsey

I like Dave for the most part but I disagree with him on auto loans and the use of credit cards if you PIF.  His program has helped people get out of debt using the Debt Snowball concept where you make minimum payments on all CCs except for the one with the smallest balance and then attack it till its PIF and then repeat to the next smallest and so on.  I owuld view his program like AA or Weight Watchers in that churchs and schools host his FPU course in a group setting..

 

I used a DMP program to cure my CC addiction which also uses the Debt Snowball approach.

 

You may like his group approach or go it alone like I did.  I dont know what I would have done if I knew about Dave prior to using a DMP.  The DMP worked for me and I know people at work who are taking FPU.

11/28/2014 FICO: EQ: 796 EX:788 TU:803
Contributor
pjohnston2
Posts: 78
Registered: ‎02-18-2009
0

Re: Dave Ramsey

Marty, what is DMP?

 

I love Dave for some stuff - other stuff, not so much.

His get out of debt is great. The snowball is wonderful.

 

His investment advice / political views / religious views, he can keep to himself.

Frequent Contributor
brother7
Posts: 380
Registered: ‎02-06-2009
0

Re: Dave Ramsey


pjohnston2 wrote:

Marty, what is DMP?


DMP = Debt Management Program

It's one of the acronyms in the the Guide to Common Abbreviations


11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
12/08/2014 Current - TU 823 (Walmart MasterCard TU FICO 08 Classic)
GOAL - 800! - App free since 09/07/2014
Established Contributor
Pappy214
Posts: 794
Registered: ‎08-05-2008
0

Re: Dave Ramsey

I think he means Debt Management Program. 

 

 

____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Established Contributor
Pappy214
Posts: 794
Registered: ‎08-05-2008
0

Re: Dave Ramsey


brother7 wrote:

pjohnston2 wrote:

Marty, what is DMP?


DMP = Debt Management Program

It's one of the acronyms in the the Guide to Common Abbreviations


 

LOL great minds think alike!
____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Member
NasaMike
Posts: 22
Registered: ‎11-18-2008
0

Re: Dave Ramsey

When you mention the DMP.  where are you finding rescources for this?  Is this a program or speaker like Dave Ramsey?  Or is the throught the cc's

 

Super Contributor
MidnightVoice
Posts: 8,159
Registered: ‎03-25-2007
0

Re: Dave Ramsey

Insert standard MV rant on DR's financial incompetence in certain areas   :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007

Re: Dave Ramsey


MidnightVoice wrote:

Insert standard MV rant on DR's financial incompetence in certain areas   :smileyvery-happy:
:smileyvery-happy:

Yes, we know, we know.

My modified DR rant: Some people are so determinedly in denial that they might well need DR's shock therapy. They might in fact need to swear off credit forever.

Many others just need to get real about what got them where they are, and what it will take to get them back to a healthy state.

It's like people and booze: some need to go the straight AA route and never drink again. Others need to go the temperance route, stopping drinking to the point of wearing a lampshade and singing "My Way," but they can still handle a glass of wine with dinner. It's going to vary by the individual.

His tactics can be useful; his overall presentation of credit is decidedly skewed and incorrect.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
MattH
Posts: 3,240
Registered: ‎04-03-2008
0

Re: Dave Ramsey

[ Edited ]

haulingthescoreup wrote:

MidnightVoice wrote:

Insert standard MV rant on DR's financial incompetence in certain areas   :smileyvery-happy:
:smileyvery-happy:

Yes, we know, we know.

My modified DR rant: Some people are so determinedly in denial that they might well need DR's shock therapy. They might in fact need to swear off credit forever.

Many others just need to get real about what got them where they are, and what it will take to get them back to a healthy state.

It's like people and booze: some need to go the straight AA route and never drink again. Others need to go the temperance route, stopping drinking to the point of wearing a lampshade and singing "My Way," but they can still handle a glass of wine with dinner. It's going to vary by the individual.

His tactics can be useful; his overall presentation of credit is decidedly skewed and incorrect.

 

I'd like to hear DR, John Cummuta, Liz Pulliam Weston, MP "do as I say, not as I do" Dunleavey*, and Suze Orman have a debate about their respective philosophies.  Each of them says many things with which I agree, and some things I don't.  Many of the people they advise on the air seem very deep in denial about their situations and the need to make some hard choices.

 

 *see http://www.bostongals.com/search?q=MP for some comments on MP.  She seems a likeable person, and she is refreshingly open about her own situation (unlike most personal finance writers I know exactly where she stands right now), but sometimes I do find myself muttering, "don't do THAT, Mia!"  Note: I know the M is for Mia but I dunno what the P stands for.

 

 

 

 

 

Message Edited by MattH on 03-16-2009 08:40 PM
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}