General finance resource question....

[tbone74]

Would anyone recommend the Dave Ramsey FPU?  Just curious...considering it.  I apologize if this is the incorrect forum to post this question....figured someone would have some input  

???   https://fpuonline.daveramsey.com/?event=displayFpuOnlineJoinNow   ???

[haulingthescoreup]

Oh, boy, let the fireworks begin...

Dave has his fans here on the forums, and there are more of us who acknowledge that he has some good points. IMO, he is waaaaaay over the top with his prohibition on credit of nearly all types. He does give out good shock therapy to those who are so in denial that I would like to just shake them until their teeth fall out.

There are people who are addicted to credit, and like alcoholics, drug addicts, compulsive gamblers, and so forth, they do need to stop using credit, period.

But most of us were sloppy/ ignorant/ in temporary dire straits when we got into credit trouble, and we're perfectly capable of handling credit responsibly once we get a little knowledge under our belts.

As regards his Financial Peace University, I guess my advice would be that if you feel that you genuinely cannot control your handling of credit, that might be where you need to be. Otherwise, go hit a used book store or the library, and get one of his books and save your money. He does have some useful tactics (many of which are not original to him), such as the snowball approach to knocking down your debt.

[tbone74]

Thanks for the input!  Actually, I'd say I fall into the catagory of, ..."But most of us were sloppy/ ignorant/ in temporary dire straits when we got into credit trouble."  With that being said, I was actually looking for guidance, or rather a beginners approach to investing/ money management.  I'll probably start out with one of the 'Investing for Dummies' series

[haulingthescoreup]

If you like books as a guide, here are some suggestions:

-- Suze Orman, Young, Fabulous, and Broke She annoys the heck out of me, and doesn't always get it right, but it's a useful big-picture approach. I also like her Women and Money.

-- Liz Pulliam Weston, Easy Money: How to Simplify Your Finances and Get What You Want out of Life. Lots of practical advice, plus she's one of the few personal finance writers who really understands FICO scoring. If you're still digging out, you might want to check out Deal With Your Debt : The Right Way To Manage Your Bills And Pay Off What You Owe.

-- Jane Bryant Quinn, Smart and Simple Financial Strategies for Busy People. I'm closer to her age, so that might be why I like her best.

All three books have a very practical, calm-down, you-can-figure-this-out attitude that I like. They also agree on not gambling for the big reward, but going with the sensible middle road that avoids both the extreme highs and the extreme lows.

[tbone74]

Thanks again for the book advise ;-) I'm all dug out... thank goodness.  Now I'm in the position of continuing to raise my score...and then trying to figure out how to best manage my income.  How to strategically use my money to my advantage   I'll check out your references.... thanks again.

[203bravo]

1st -  I am not a Dave Ramsay fan.  That being said he has very solid and sound advice.  Compare it gong on a very restricitve diet and acutlly sticking with it.

The only reason that I'm not a personal fan? He uses a cookie cutter approach.  It may not necessarily be the best fit for the entire planet 

However, on the upside if you were to start the Total Money Makeover and actually sticking to for 6-12 months.  You may not be debt free by then, but would have a hefty part of the debt paid.

Best of luck.

[llecs]

OP, throwing out a minority opinion here. I've never used any of DR's products, but, IMO, his advice is spot on. Many of us disagree with a few things he has said in the past, but you can't go wrong by taking his advice on the whole.