What We Don't Like About Dave Ramsey (Yup, Us Too)

[@duvuvuei]

After starting with Dave Ramsey we graduated to Debt Free Millennials and The Money Guy.

[@amdsolutions3848]

Same! He got me started and on the Right track then I expanded my knowledge

[@sarahweigel4361]

i love the money guy! i like how they say "army of dollar bills" lmao

[@sarahshanahan2222]

Yes! Check out clark howard ! He is amazing

[@LATINOFAXTS]

@@amdsolutions3848bro i know a youtuber that is bullshit free check Jarrad Morrow he makes great financial videos but his videos are more for investors (long term)

[@thelaneanator6302]

I see Dave Ramsey as the elementary school of personal finance. Most people struggle with their own behavior and being disciplined with their money and I think Dave does a good job at addressing that. However, once you get the behavior side down and graduate, there are way better things you can do mathematically. His plan tries to be a "one size fits all no exceptions approach" but personal finance is personal.

[@melvinbarnes6652]

Bingo!

[@chetanjilhewar1669]

❤ yup, it is true that it is personal finance and every one is different. But I do agree with him on one thing is starting an emergency fund first.

[@kathryncashner3294]

You said it more kindly than I was going to. Dave has a program that works for people who have no self discipline. I suppose you could argue that they wouldn't be in that situation if you had self discipline, but not all of us had grandparents who grew up in the depression and taught us well. His steps are NOT the best way to get out of debt quickly, but if you need the affirmation of having one paid off at a time, it is better than nothing. His 12% is a joke. NOTHING pays 12% net of fees year after year. 8% net of fees is a much more reasonable rate to use for calculations, and is realistic. Max out any company match retirement funds right from the beginning and as soon as possible, max out the 401K or IRA allowances. Yeah, I mean in your first job, if at all possible. That money will grow hugely over your lifetime, guaranteeing the funds you need in retirement. The longer you wait, the less you'll have. The credit card thing....there is nothing wrong with a credit card IF you pay it off in full each month and you have self discipline to control your spending. I don't use my card if there is an extra cost for doing so. I agree that some people can't avoid making purchases on a card that they would not be able to make if they had to hand over the cash, so for them, a card can be toxic. But a credit card, in and of itself, is not bad. The issue is the way you use it. Dave sticks his nose into situations where he is not an expert. I also dislike that his "helping people" became a multi-million dollar business; it doesn't pass the "smell test." BUT if you can't manage your money or don't know how to do so, it is a starting point. And you can learn what his "baby steps" are on line without spending a penny on his courses and materials. Another point is that I've never heard Dave address some of the easy things people can do in emergency situations. I don't normally advocate accepting charity, but...every hospital that accepts any federal money (which means all of them) are legally required to provide a level of charity care. If you don't have medical insurance and end up with a nasty bill, talk to the financial people at the hospital. They CAN reduce it greatly and may be able to get rid of it entirely. Same thing with a doctor IF your doctor owns his/her own business as opposed to being a hospital employee. Where I worked, we always made adjustments for "self pay" patients who actually agreed to a payment plan. If you are really so low on the income scale that you can't afford food, the government has programs you might qualify for. Should you do it for life? Heck no....but "lost my job and am up a creek" might be a time that you need help short term.

[@kevinwalter4078]

Saving up MONTHS for an emergency fund when you're struggling to pay minimums on debt is... impossible. That's why the first step is $1000, which you guys admit early in the video can be difficult for some people. The $1000 emergency fund isn't for medical bills. Medical bills just become new debt. They don't get paid off with your emergency fund. The emergency fund is if your refrigerator needs repaired, or your tire exploded on the highway and needs replaced, or your water pump dies or something. It's not meant to be "enough". This is the only criticism I can level at this video.

[@JoshIsOnAMission]

I started on the Dave train and did the rice and beans things for about two years. As someone who has over 100,000 in student loan debt it's not going to take me 1 year to pay it off lol So I'm paying off debt while enjoying life and investing.

[@TerraAcox]

Bottom line is he looks at debt as a moral failing, and he acts like getting out of debt must feel like a punishment for that failing. That's his philosophy, if it's not your philosophy, then it's probably not for you

[@TheThreatenedSwan]

If that works, it works

[@deb9806]

He blames credit but it was bad deals that got him broke and THEN he couldn't pay cards and they wanted to get paid. He hates AM Exp but they were always good to me.

[@johnsyler8580]

I just found your channel and 100% agree with what you say. I used to be a DR fan but became disillusioned when I realized that I could not for personal reasons do the FPU plan. I don't like his attitude at times to callers and by the way I am a boomer . Keep up the good work.

[@ohdang8515]

Awesome video. Dave's gimmick is gazelle intensity to pay off debt today for a better tomorrow. This overlooks a sobering reality: time is the one thing you cannot buy more of. In paying off your financial debt you create new debt in other areas of your life. Many of those non-monetary debts will never be paid off. You will never be young again. You will never get to spend more time with your kids when they are young. You will never be able to celebrate with friends and family again once they are gone. Financial responsibility is important. So is a realistic and balanced life. Don't be so busy building for tomorrow that you forget to live today.

[@alelovestodancee]

wow literally 4 months ago I was so religious on following the baby steps and the more I listened to this man speak to people on the podcast I realized wow this dude is a bully and THEN I started to listen other sources and it opened my eyes.. THANK YOU FOR TEACHING US FINANCIAL EDUCATION!!!!

[@chetanjilhewar1669]

Have you looked at wise money, money Guy, Jarrod marrow. They are list going to middle school, high school and college style financial education. Dave Ramsey is more of elementary school financial education. I am hoping that you guys would disagree with me on this statement that I made.

[@theretiredmillennial]

Love your take on this! There are other method that make sense mathematically and/or emotionally that will get us to our goals. I took financial peace university, and took the information with a grain of salt, however have noticed that Dave indeed wants it to be taken strictly. It’s his way or the high way.

[@alfre4554]

As a millennial with no debt, including mortgage, I can assure you there is a peace that's worth far more than anything else. It made getting laid off with 2020 annoying instead of hysteric.

[@melowely]

Same thoughts. We used him for the debt snowball years ago and that worked out great, but now that we’re in the mortgage preapproval process, I’m so glad we never got rid of our credit cards. We use it like debit & pay it off monthly which helps our score stay high. Our lender does educational videos and has talked about how while it’s possible you will not get the best interest rate when you go to apply for a mortgage if you don’t have that credit score.

[@deb9806]

I taught my daughters to do that, mine is 830 but they have high 700's and it helped them get a car loan with low interest. They also pay off their car loans early. We all aren't perfect but you try for your best at the moment

[@christophermudd7844]

The power of giving is real, it doesn’t mean you always have to give money

[@DebtFreeMillennials]

true!

[@so.many.obstacles]

I put my niece and nephew on my credit cards when they turned 16. They have a 780 and 750 score respectively. I just added my cousin a more or so ago and she has 680 starting out. I teach them about credit and send them many videos about credit. They were already good savers.

[@emmaadams5905]

I think he's got way too high of a horse for a man who got a job because of his parent connections, profited because of that but still made bad decisions and screwed himself. But then turns around and chastise families who have had to work uphill their entire life as if generational poverty or illness is something you did wrong. I just think he's out of touch with the average persons life and struggles and uses "tough love" as a cop out. Just a hypocritical old man rambling about how people these days just don't want to work hard enough.

[@112428]

Exactly. The genesis of his "baby steps" was losing millions in real estate and he's been personally terrified of all debt ever since. Even after losing millions, he had his parents to fall back on. So because he couldn't get over that fear of his own failure, now he preaches that fear to others.

[@thumpr1]

I studied Ramsey, but also several others (incl Sure Orman at the time)... I did my own thing/way.. kind of from help from a friend who said just to use a spreadsheet of debt and balances, and I worked off of that... but at least looking at all of these other personal finance people is a way to help get motivated and educated.. you don't have to follow any certain one way, but as long as you're working on it... from 2011-2023 I paid everything off... and now I am debt free, only paying off my mortgage last month.. that's all one 1 income, low-mid-class.. but now I have all the equity of my house AND a 401K saved up as well as no debt... Agree with you, should definitely contribute to 401K to start that compounding, before paying everything off.. need time on that..

[@haleycason6931]

If I am going to honest, I don't like how he makes people feel about their financial situation. They already recognize how bad it is, no need to our salt on their wounds, but there are some people who may want that tough love.

[@chuckmurray1825]

I like your channel. I like you have a credit card but it's a 2% back card. I use it for every expense I can and I pay it off every two week. It has worked really well for me. I never carry a balance and I have an 841 credit score.

[@lesterjohnson2691]

Okay I usually don’t relate to these types of videos but this is very relatable and I agree to 90% of what you said.

[@lushdawn]

I am all about "giving", but not religious, and his religious indoctrination is super off putting.

[@soapa4279]

Obviously late to this conversation. But I'm definitely more in The Money Guy train. They strike a better balance between saying "Hey it's ok to spend here" and "It's better to save there" compared to Dave Ramsey where it's "You're a dummy for spending $5 on coffee"

[@melodiev9253]

I definitely started on the Dave train. Took FPU and all. Over the last few years after learning more about money and then him as a person and his company I was totally turned off from him. I do not like the way he speaks to people, the way he handled COVID, his political views, his love of Rush Limbaugh, the baby steps, not contributing to a 401K to at least to get the match during debt payoff, his treatment of female employees, the $1000K starter emergency fund...to name a few. I heard him tell a caller who asked about going to therapy while in baby step #2, did she really need it, could she just talk to a friend or if you are going to do it tell the therapist they get 10 sessions to fix you. What a joke. Mental Health is serious and I did not like the way he handled it.

[@SwimSweetie100]

I like Dave Ramsey, but I’m not fully on board with his stuff. He is unrealistic and slightly out of touch. I take his ideas as guidelines more than hard rules cause life would be miserable if you live the way he suggests

[@kme06d]

You guys hit the nail on the head with Dave. His advice is designed to make him money. He shames rather than teaches because it gets views. His callers have trouble with credit cards because noone taught them how to use them. It's like giving a kid a recorder with no instructions and then taking it away because they made an annoying squeak rather than play a note. His callers need to be taught financial literacy (including using credit cards) and that also means using anything that helps them. He pushes his app as "the only budgeting tool" when there are other budgeting apps and tools that are just as good. The core concepts are the same and that's what he should be focusing on if he truly cared about helping people.

[@sarikagoode1505]

Always eat the healthiest food you can afford. It’s an investment into your health and wellbeing. Even if you buy top quality organic foods, prepping and batch cooking at home will stretch the budget for you. Never skimp on your health.

[@kristinealexander3491]

My reason for not agreeing with Dave Ramsey is how he treats his callers. He berates them and talks down to them like they’re stupid

[@scarpelliproductions]

THANK YOU FOR THIS VIDEO. I almost fell for his "trap", I am a firm believer in do it for yourself. Some of his ideas are smart but honestly unrealistic. Not to mention I just graduated college (have average amount of debt) and I want to enjoy my 20's while still making smart financial decisions, etc.

[@jeffsmith3622]

I hope Dave Ramsey sees this video. I don’t think he has ever realized that the vast majority of his listens don’t follow his “proven plan” exactly.

[@DebtFreeMillennials]

I wonder if he knows but chooses to ignore.

[@alp.9672]

Well if you check out his comment section he probably does think vast majority does follow his proven plan. Lot of people in his comment section are traditional boot licking conservatives like Daddy Dave himself.

[@Engineering2AI]

I always wonder where Dave actually did his study of millionaires. That has been referring all the time but I can never actually find the data on it. When was it done, how was the millionaire picked out. How was those question

[@michaelb.8953]

@@alp.9672 I left many of comments on Dave's KZbin videos comment section that were immediately deleted the very second I hit the "reply" button if the comment pertains to anything money that doesn't follow Dave's plan exactly. So the only comments you see in his comment section are the "boot licking conservatives". Many more ways to pay off debt other than giving up eating good food, delivering pizzas, and cutting off the arms of your first born and selling them on the black market. When I bring this fact up on his comment section I soon discover his moderators without hesitating a split second delete my comment. That's why it appears only boot lickers are leaving comments. Dave has to keep his sheep followers a following so he keeps that bankroll flowing into his company, can't have people seeing the light.

[@alp.9672]

@@michaelb.8953 They probably shadowbanned you.

[@kendrickwoods]

He says don’t buy a home until you are debt free and I hate that one. I bought a house in 2020 now I got enough equity to sell the home and pay off debt in only a year. That’s the number one thing I disagree with

[@hanwagu9967]

Unfortunately, there are lots of people who have been and are house rich and cash poor. I have no qualms about not paying off my 2.375% 30yr fixed mortgage early.

[@NoRegertsHere]

There’s the risk of debt that you’re not considering in the equation. DR has a good loose structure of the order of things, but not optimal

[@MorKing86]

Absolutely agree. I lived outside DC ...1k didn't cover my rent! And there's no way in hell I'm giving up FREE retirement match!

[@deb9806]

He wont budge on that either, but again, I'm hyper-sensitive and I think Rachel wants to say they can do more and John, I see the eyes, the facial expressions or trying to keep them stoic, they just can't and keep getting paid good money by Dave or Dad

[@LennyGildersleeve]

Ramsey gives sanctimonious, ultra basic, unquestioned financial guidance to certain kinds of people who NEED answers and guidance to make their financial life more understandable. The people who seek him out for guidance are looking for help from someone who shares "their" beliefs. These people were most likely given instruction on how to find and follow him by others who "believe" the same things. These type of people need hand holding, reassurance, and folksy stories to make them feel better...and with a heaping helping of "tithings" thrown in. These type of "followers" need to seek out someone who ALWAYS has the answers, someone who always "knows what's best for them". Type of people who blindly follow a rich leader of an rich organization because the teachings are said with conviction and confidence and "faith" that if you follow all the teaching of the leader and organization, you too will be as rich and fulfilled. Remind you of anything????? One would have to be brain dead for it not to! He's the Jean Dixon Astrologer to the Stars of religious money management.

[@lkj0822g]

The sooner you realize that Ramsey Inc is a multi-level marketing firm, things begin to make sense. I think if you are drowning in consumer debt and having trouble paying the rent and buying groceries, then yeah, Steps 1 & 2 make sense. I also think once you get past a certain point, you need to get your financial advice elsewhere. I have heard Ramsey folks give horrible, horrible financial advice that would cost the caller tens of thousands in unnecessary taxes and hundreds of thousands in lost opportunity costs.

[@MarieHolliday]

Dave Ramsey always gave off negative vibes most definitely a MLM

[@MarieHolliday]

I agree Dave Ramsey had bully vibes

[@SwimSweetie100]

I also really don’t agree with his ‘rice and beans’ approach. You shouldn’t be neglecting your health needs to save a little cash

[@Engineering2AI]

You took that too literally, it just a old way saying you need to save money on everything including food. Rice and beans just an old ways of saying that. If you actually listen to a few times the talk able budget while I’m debt, the monthly budget is 300 plus. That has to be more than rice and beans

[@SwimSweetie100]

@@Engineering2AI it's obviously not literal. But healthy food is not cheap and not something you should skimp on. My personal opinion

[@hanwagu9967]

rice and beans is an analogy not literal. You don't need brand named products for example, and you don't need to be eating prime rib every day (unless you have a free or cheap source for the meat like a bunch of cattle in your backyard you own).

[@deb9806]

Yes he doesn't mean the food but cheap food. He laughed that a guy really thought he was to eat that and messed up the bean. ; )

[@commonsense-og1gz]

rice and beans won't give you good health, and health is way more priceless than spending money for good produce. credit cards are misunderstood. these are good for breaking down large payments into bite sized lumps. car maintenance, medical bills, appliance fails...etc. i think that while higher rates are not to be ignored, i think that adding charges for the following month to a card with a balance is what may end up causing people problems the most.

[@troy3091]

Agree! if you are diabetic, the rice will cost you more on medical bills!

[@commonsense-og1gz]

@@troy3091 i have heard that rice is mostly sugar.

[@spiderpig24321]

I don't agree with Ramsey telling parents to let their teens/ young adults drive around in junker cars . My 22 y/o son died not in an accident, but had that been the circumstance; I would never forgive myself. Your children are the most valuable thing you have and can not be replaced. The NEW affordable cars have all the safety features that save lives. You can't put a price on safety, especially driving around in snow

[@melgoodbye]

i’m so sorry for your loss. thank you for sharing your story. this is what i thought too when he says to buy a “beater” my cars were always breaking down when i was a teen and my mom always apologized that we couldn’t afford anything else. i can happily say now i’m driving a 2015 Honda and have no problems. again, truly sorry for your loss 🙏🏼

[@alp.9672]

Great video I agree with everything you guys brought up. Rice and Beans, credit cards, not waiting until out of debt to contribute etc. Honestly I watch his show for entertainment and I have seen MANY people in comment acknowledging the same. Like I’m saying just because you have debt doesn’t mean never check out a restaurant or experience a small trip. Life needs balance. Maybe that will differ with people depending on how bad their situation is also though.

[@gcookz86]

Dave Ramsey will keep you out of debt... sure. His advice is really great for how to keep poor people poor.

[@mrawesome1821]

You two are awesome. SUPER THANKS!!

[@jtsandig]

I think Dave is fairly decent for getting out of rent. but his assumptions on cost of living and being able to retire on like $15/hour is ridiculous. I also don't think people should be in funds that have loads like you described. He promotes financial advisors that take over a percent of your aum per year and that will kill returns vs index funds.

[@NeoSoulCrew]

I agree on the rice and beans point. Tomorrow isn't guaranteed. You can live on minimals all your life and pass away abruptly during "retirement age". Just have a Flippin balance

[@delindasmith5993]

Financial struggles are very painful, and even fighting. His advice works for many. i personally do not care for Dave, with the shaming and name calling, he comes across as narcissistic his way is the only way and you better not question it. His statements like, I'm the one that is rich, and you're not, so who's system works?... Is just cold. He has become very wealthy from people who struggle. His wealth was gained off other people's Financial struggles. I like Money Wise, they are kind and respectful.

[@serenitypeaceandcomfort3669]

This is an adolescent assessment. 🙄

[@jasonk446]

I follow his debt snowball method..love it. But that's about it. I saved and keep a 4 month emergency fund instead of his recommended 1k. I also kept contributing to my company 401K. Lastly, I still have a life, but I became much more frugal with my money. Doing the math, my way gets me debt free, except the mortgage, in 1.5 years. His way would've sped that up to just 8 or 9 months before being debt free. Saving 8 months was just not worth it to me. I would not of felt comfortable. But in his defense, he doesn't want me or anyone to feel comfortable while going through steps 1 and 2.

[@lillyinthefield2787]

What card do you mean when you said pick a card that fits our life style ??? do you recommend a good first big card after our banks ??

[@llaw785]

Great content! I agree with everything you have listed !

[@donaldmatthews6419]

I love your honesty and sharing this valuable information. Thank you!

[@eduardogarcia1442]

I like DR plan because it is a very general plan you can follow when you are in troubles and dont know anything about finance.

[@AccountabilityCorner]

I love this video! I wont even watch Dave Ramseys videos anymore because they shame people so much for past decisions. I started my debt pay off journey because of his videos. Now I found what works for our family and were making weekly progress. No more money fights or stressing about wanting to take a trip and having fun money and being able to eat out.

[@Laker5574]

You forgot how right now he is telling people to quite their job if they are against the mandate for the vaccine if their job requires it. Advising people to quit their steady income due to beliefs that go against FDA approved vaccination is down right despicable.

[@benjij5465]

I loved your point on the mutual funds. I did the exact same thing and that 5.75% figure still annoys me. Plus, the fund the smart vestor pro put me in, for the past 10 years has actually underperformed (yes, underperformed) a simple index fund/etf such as VOO, VTSAX, VTI, etc.

[@wrenchguy2937]

how did u switch away from the smartvestor? I am going thru that phase right now.

[@benjij5465]

@@wrenchguy2937 you just tell them you want to get out and they'll set everything up

[@wrenchguy2937]

@@benjij5465 can i transfer everything to fidelity? (I been doing it on the side).

[@benjij5465]

@@wrenchguy2937 yea you can transfer the funds to fidelity without having to sell them

[@hanwagu9967]

there are shills everywhere. I hate the fact glorified insurance salesmen are allowed to claim they are a CFA and sell you a retirement annuity that is couched as retirement savings when it is 98% useless insurance and 2% into a loaded mutual funded.

[@chelseap.8284]

The donating/tithing is my biggest gripe. And also the rice and beans mentality. I agree, I want my kids to enjoy life and not have to tell them “sorry we can’t go get ice cream because mom and dad have to pay off a credit card”. They shouldn’t be punished for our mistakes. I think he’s problematic in some ways but he has helped a lot of people and it works for some people.

[@hanwagu9967]

I'm quite confident kids can enjoy life without ice cream. Learn to say no as parents.

[@woodside4life]

@@hanwagu9967 That’s not the point…

[@elenahingle699]

You are missing the point.. rice and beans just means eating at home.. cooking. You can buy a gallon of ice cream at Sam’s. rice and beans “ is meant for a short season and the less you eat out, the shorter the season is.

[@jborrego2406]

​@@hanwagu9967ppl with kids can always find a excuse why they should spend money. Oh Billy needs to go to Disneyland an needs the Stanley cup on that one was a jk

[@JSmith-dj2pi]

Dave's steps 1-3 are fine. The $1,000 first step should be bumped up to $2-3,000 . After step 3 you enter his world of multi level marketing and it gets ridiculous. The idea of no credit score is ludicrous, too, but it's part of his product.

[@horaciocruz6970]

I don't see much of a difference here but great to hear what you think of his tactics. I see David Ramsey as a great advice for those who really have issues with money and perhaps not for people like yourselves who may have already some knowledge. Good video, btw.

[@rabidfollower]

I took some of his advice but not others (such as those regarding credit card usage and bond investment), and I suppose most people do the same. It's important to get a second or third or more opinions before coming up with any decision.

[@hanwagu9967]

when you have a mountain of debt, baby steps are psychologically important, because it is easier to do small things that add up, then to try and tackle the entire mountain at once. I agree you should be looking out after #1, at the same time people have different value systems and tithing is important for them spiritually, religiously, or culturally. I'm not going to fault anyone for tithing. It's also contradictory to say that you should live life some like taking a trip while climbing out of debt, which is working against paying off your debt, while disagreeing with Dave's tithing budget line. They are the same. Having graduated in 4yrs as undergrad and 18mo as a grad student, yes, it is entirely possible as students do. It comes down to priorities. Did it suck taking 18-21 credit hours a semester and working? Sure did. There are plenty of students in grad school taking three or more years to complete a degree which should take only 18mo with 9 credit hours a semester. It's dumbfounding and also explains why young adults are needlessly taking on more student loans than necessary. If you don't know what you want to do, then go to community college, but to take on $30k a year and extend your college lifestyle is just crazy to me. That Chase Freedom Unlimited charges 3% foreign transaction fee, which is ridiculous, so read the fine print. Let's just stop saying credit card perks. You don't get nothing for free. Credit card companies adopted perks, rewards, cash back to trigger more spending via your brain's reward system, while merchants just passed on transaction fees into the cost of goods and services. The opportunity cost of paying off mortgage example is the same as funding retirement accounts. Yes, company match may be free money, but if the match plus your contribution percentage is far lower than your 28% credit card interest rate, it makes no sense to contribute over paying down the credit card. I'm not a Dave fan. Anyone who shills for other shills that separate you from your money under the guise of advising can be interesting to listen to, but you should always be wary.

[@michellesouthflorida9682]

I am 50 and by no means wealthy. I guess you could say I am upper middle income. I paid off credit cards in my late 30s because I was an idiot and fell into a credit card nightmare in my 20s. Not having that hanging over my head is worth everything. I pay everything in cash (well on my debit card) and if I don't have the money right then and there then I don't get it until I have the money. It really is that simple. Yes it takes me awhile to get to have a vacation or new floors or something lol but once its paid its paid. I do have ONE card because I have learned that in order to build a credit score I should have one, but I will not charge more than maybe a dinner on there. And even then it stresses me out because now I'm use to paying upfront. Thats my biggest piece of advice so I agree with Dave Ramsey on that. But I don't think he is up to date on how much things cost these days when it comes to bills (lights, water, insurance etc.) and the costs of homes. seems he is out touch with that part. Also I don't agree on not leasing because I am older and the last thing I need is to be breaking down. I had a 15yr FORD SUV paid off. So I had no car payment for a VERY long time. But I also had some breakdowns on highways and other issues as vehicle got older. I often had to stop and add oil to my engine because it just eventually wore down. most of this happened after a 7 year period but the piece of mind I have now is worth the car payment

[@Loissupes]

This is a really nice video. I found Dave after I had no debt except my mortgage. His steps gave structure to the things I was already doing. But I never fully followed his steps exactly. I always have had a credit card. I do think some of his ideas are somewhat unrealistic or very able bodied centered and always based on the best case outcomes (no woman internally marries an ab*ser but sometimes they need money to leave). And some of his outdated views on how people should live made me kind of quit listening. But he’s got great steps and is super helpful. ( I listened to his show for more than 5yrs)

[@spiderpig24321]

Same

[@BigPhilly15]

Awesome Video! I agree with everything you said. It’s absolutely insane to me that the “rice and beans” guy is pushing high cost mutual funds.

[@sayyedal-afghani]

How could you not want to tithe? Rev. Kenneth Copeland needs a luxury aircraft carrier/yacht to land his gulfstream jets on!

[@nicolekamzic2594]

100% agree with credit cards as long as you pay them off every month!

[@michellesouthflorida9682]

but thats a big issue if someone is a spender and no control. Gotta be really careful with credit cards. last thing you want is credit debt looming. and it happens fast

[@Engineering2AI]

The big thing Dave keep saying is Credit card is bad, debit card is great, American Express is the devil. Actually American Express is charge card not a credit card. The difference is that you have to pay total balance off every month. Work more like debit card than credit.

[@MorganeEats]

The last two videos, hubby has been in his bag!!! I love it! I will continue to attend the Ted Talk/ Soap Box. All the KC love❤️💛❤️💛!

[@Jekyll_Island_Creatures]

One of my biggest gripes is Dave Ramsey doesn't understand Infinite Banking and trashes it ever chance he gets.

[@christinapfeifer4218]

Just stumbled on this video. New subbie. I have been a Ramsey follower for years and have struggled because his no balance approach is just not realistic. Now yes we did pay off 65% of our debt, but with no celebrations because we can’t ever let up a little of enjoy life. I think his advise may work for some, but not for us. Will be binge watching.

[@DebtFreeMillennials]

Thanks for subbing! Agree that you have to live your life and also achieve your financial goals.

[@hannahallen1799]

I think my biggest gripe with him is about cars, actually. I live in Montana with BRUTAL winters. Cars may be a "depreciating asset" but value is subjective. To me, its invaluable to have a reliable vehicle with working parts thats going to be safe to drive on the road, and sometimes forking out extra for AWD/4WD. I legitimately think its worth the loan.

[@stephenroberts2526]

One thing that has been an absolute Godsend for me is the HSA that I have through work. I currently have just under the annual out of pocket maximum saved up, after a year and a half of having it. My employer gives me $750 every year, and I supply the rest. It has a debit card I can use to pay for qualified expenses tax-free. I have slightly lower taxes from contributing, and the carry-over balance/growth is not taxed. I don't worry so much about "What if" because of having it. And it is nice to have it compartmentalized from my other savings.

[@chetanjilhewar1669]

I don’t remember Dave Ramsey talking about it in his baby steps.

[@stephenroberts2526]

@chetanjilhewar1669 Dave's baby steps are a good starting point for many people, but are not a one size fits all thing.

[@b1riley1000]

I pay off my credit card balance every Friday night. I use my card for absolutely everything, including daycare payment each week, and I like keeping the balance low. Rack up quite a bit of cash back rewards this way and never pay interest on it.

[@middlechamber3574]

I concur with a lot of your disagreement points. I certainly am no disciple of DR simply because I figured out how to manage my money when I had to make ends meet on a 'Temp Salary' way back in 1993. However, while the DR program has lost its savor with you guys, you have to admit, his program has turned the persoanl finance lights on for many people (even you, if I heard correctly). What I appreciate the most is your ability to have taken what you've learned and have self-educated yourself in a way that has benefited you. So, keep hustlin' and teaching others what you've learned.

[@AnnieClaws]

This is why I follow you!! I agree completely!

[@deb9806]

John talked of how hard it is to travel with wads of cash or debit, took 3 tries for renting car, hotels want larger security, some wont do it. They have to talk reality. My daughter traveled abroad for years for her job, would never be without her travel card. If you can't stop spending, then don't use one but he wont admit you can spend less or the same as debit. If you pay it off in full, it is like debit, it comes out of the same pot . He also never had Sharon working with 3 kids (Rachel born same year as bankruptcy and Daniel later) They had home, own rooms and food and he never said she had to deliver pizza or waitress at night or find a way to earn from home. He worked a ton but he doesn't give other couples with kids the same tolerance, I don't like that but I don't think he was ever that broke for long.

[@yojs17_]

Interesting take on this topic. I was once on the Dave Ramsey train, but not anymore. The main thing I don’t like is how he treats his callers, name calling, it brings thoughts of guilty, etc etc. Negative emotions don’t usually drive change. I do agree with tithing, I know not everyone does but a tithe is technically not your money. Also he just gives generic blanket advice to everyone…we are all unique individuals.

[@Sarah-uc9vc]

This is how a feel about him.

[@KourttneyL]

I agree with you on most of these! Especially having a credit card. I currently am on my way to paying off my last cc but I will keep one open and lower the limit and use it wisely. I learned my lesson and I’m ready to be more responsible with it 🤭😂

[@hanwagu9967]

given your post was 6months ago, it may be too late; howeve,r you shoudn't actually close your credit cards after you pay them off and you shouldn't lower your cc limit. Your credit score will take a huge hit if you do so, by lowering your credit age and your credit utilization percent when you do use your cc even if you pay off in full every statement period. If your cc has annual fee to keep open, then yes there is justification to close it if you aren't going to use it. Also, some cc will close your cc account if you don't use like once every other year. CC has to give you notice if you don't use your card then they are gonna close after a period of time, so you don't really need to do once a year. So, it's worth keeping open and making one need purchase on your other cards once a year and pay off during statement period, while continuing to use your main card.

[@chetanjilhewar1669]

Has anyone seen Suze Orman’s Shows? I think she is little better than Dave Ramsey. Both of them have different opinions of how to handle our own financial education and money.

[@MrMrbrianna]

When you put it that way, it's funny that his suggested "emergency fund" of $1,000 wouldn't even cover a trip to the emergency room

[@lilyyoung1002]

That's sad on so many levels unfortunately 😔

[@Engineering2AI]

That step really just helping people getting warm up to pay off debt, 1000 is not enough for anything. By able to save 1000 you can see oh maybe I can Squeeze out a 1000 a month to pay off debt

[@alexlorenz7]

I really appreciate this video..I never really followed Dave Ramsey's program but sometimes run into his content. I think it's great if his system works for some people but I don't like the mentality that his way is the only way

[@BigBoss4310]

Y’all nailed it! Couldn’t agree more!

[@rosebush7000]

A LOT of people cannot handle credit card.

[@ClaudiaSteichen]

Love this video. Definitely agree

[@elenahingle699]

I like Ramsey and The Money Guys. I think they have different approaches, but each have integrity and wisdom. I like the emphasis Dave Ramsey has on giving. No one feels they are rich enough to give and once “ rich enough “, they give a measly amount. I think giving at all stages is important.. agree with Dave!

[@lushestdaisies]

I also started with Dave principles and then saw red flags with the snowball method. I went highest interest first in my payoff… again, math.

[@jennycarrier]

dave aloso think we dont need credit score..that one is totaly crazy to me!

[@janellewelty]

Because when you have cash and are financially free you don't need one. A credit school shows that you can pay the debt you have one time. Credit scores are backwards I have no credit score and haven't for years because we lived off less than what we made.if we don't have the cash we don't buy it. You can buy a house without a credit score called manual underwriting and buying brand new cars and spending 30 thousand money you will never get back. We buy cars cash and not new and they have been more reliable then our family's new cars. We you have cash bc you aren't spending it on stuff like eating out every week, Starbucks, nails, cars you can't afford, latest and greatest phones. You don't need a credit score!

[@kiarahart3114]

I agree with the points you guys made so much. Especially about using credit cards as a tool to boost your credit score.

[@rnt45t1]

THANK YOU for addressing the stupidity of calling it "baby steps." I have had a problem with that nomenclature since I first started listening to his show. That said, I did just pay off all my debt. I'm still regretting selling my car to pay off my student loans, going from a 2017 Dodge Challenger to a 2003 Pontiac Vibe has been a struggle, but I'm putting $1,800 a paycheck into a savings account now, so that's good I guess.

[@mahyar20]

I wouldn't say I agree or disagree with him but before watching his videos I would've spend all my pay check (which isn't a set income as a part time cashier) on wants and not necessities such as paying my phone bill first before going to McDonald's everyday. So he helped me in that sense.

[@mirla838]

I DEFINITELY needed DR when I started with $124k in 2016. And it took me 4.5 years to be debt free. I had absolutely NO financial education. I do agree that the beans and rice mentality can be a good thing, bc some ppl don't take the debt free journey seriously, and they need that speech. And on the other hand, I'm not letting go off my credit card, and I've upgraded to YNAB. He's good for elementary type financial education. But I don't think you "must" accept the complex things he says.

[@TheTrueHardcorefr3k]

#9 tithing: Hes actually mentioned this in a few calls. While he would still tithe, he doesn't blame anyone for witholding. #7 I think life and beans is only good if you can get it done in less than a year or at least until you get rid of the debt with interest above what you could get from the market #5 Is possible if you make the decisions to make it happen. Community college is pretty cheap in most areas and free in a few. #3 I 100% agree! #2 At least get the match if it's available #1 Credit cards can be great, but most people dont use them in a way to take advantage of rewards. The rewards we redeem are off the backs of the majority of people that suck at using them.

[@jaredgates4310]

I'm a big fan of the Money Guy Financial Order of Operations. If you have the self control to follow the steps, they are very optimized.

[@NotBrokeForLong]

I started with Dave Ramsey and slowly moving towards others. I’m closing majority of my credit cards but I will continue to use one for expenses, I still want to live life with my family in the mean time by vacationing and going out from time to time, and I will still save towards emergencies after we reach $1000. I guess the only DR advice I’m following is to save $1000 fast and I’m stopping there 😂

[@MISJPEREZ]

agree with inability to give much less tithe which isn't a scriptural except in principle which is giving that can be a hand made card that says, Thinking about.. blah blah . ya dig?

[@josephplaugher7324]

One question and one comment on this. You need a good credit score for a good mortgage rate: Dave & Co talk a lot about manual underwriting (bank looks at your income and assets, not your CS). Have you looked into that? Was the rate worse than CS based underwriting? I think the idea of ditching credit cards completely is a reasonable one. People don’t gravitate to his stuff because they have handled credit cards in an ideal manner and get free stuff with the points. George Kamel has videos about the stats. the majority of people pay way more in interest than they ever earn in points AND that most people tend to spend more in general when using CC than when using their own actual cash- even if they never pay interest. Otherwise, nicely done. I think I agree with the rest of your list.

[@michaeldobson107]

Dave Ramsay needs to decide if he is a financial guru or an evangelist. You can't be both, because your evangelism will always come first, and not everyone seeking financial advice follows your religion, your religious principles, or even believes in a god.

[@mohnishsial8142]

I think a VAST MAJORITY (not a small minority) of people in the U.S. cannot handle credit cards. There is a reason credit card debt just surpassed a trillion dollars. And setting a reminder to pay off the credit card is not the issue. It's that people don't have the money to pay it off.

[@freedomworks3976]

Do you actually think 🤔 some people still pay load fees to be sold mutual funds ?!?!?!?

[@eliza_kai]

Money = Mentality. I think that the Ramsey method at first is ok to teach, once you get going…you go from there. There are so many people that are financially very illiterate and that’s a generational issue. Welcome to California ❤ you’ll see that more and more here especially. Many people have a generational poverty mentality. I think Dave does handle them fairly well. It’s up to the person to continue learning and growing. There’s no such thing as one stop shop for anyone’s personal finances. Take me for example, very vulnerable here. 2 years ago I was financially free. Set to purchase a home. No debt. In a matter of 2 years and some serious health issues I’m in debt $150,000 in only credit cards due to high limits and unable to survive. I had no choice. Literally. It’s sad but it was my reality. Now I’m in the probable bankruptcy route due to the ongoing health issues. It’s scary but life is so unpredictable 😢

[@quinnernst2414]

Thats my biggest thing with these financial people. Like I guess my life sucks bc i'm in debt and cant do anything. Like I'm 22 should b able to go out and not feel guilty about it

[@mccarthy890]

Great video! I agree with a lot of this. The mutual funds vs. index funds is my biggest gripe with Dave. How do you feel about his advice on investing 15% of your income towards retirement? (Of course, his system assumes you’re debt-free). Do you think more / less or is this a good percentage?

[@geraldpawlicki3321]

More. Work your way up to 25 per cent if you can, otherwise 20 per cent is good.

[@kirsten121]

I agree with you, even on the small matter of calling them "baby steps", I find that irritating! On tithing, Christians say "the first 10% belongs to God and isn't yours to begin with, so cut your cloth accordingly". You know how folk say "pay yourself first" in terms of saving - ie don't wait til you see what's left at the end of the month before saving, they say "pay God first what is God's". I don't think you need to be at "I can buy a Ferrari" level before tithing if that's your religion. But yes, wait til you've dug yourself out of your financial hole.

[@HipHopMovieNews]

Excellent breakdown.

[@DebtFreeMillennials]

Much appreciated!

[@Taxguy99]

Just found your channel and have enjoyed it. I’m a Gen X’er. I like Dave, but I feel he is more suited for people who are in really bad shape or bad spendthrifts. I would never use a debit card for online purchases, NEVER. I agree with a lot of what you said, especially with retirement contributions and wise credit card use (pay it off each month). Dave brags he has no credit score and that’s great if you have a pile of liquidity and no debt. In an inflationary environment I’m not sure how well some of Dave’s program works because it’s never been tested in this type of economic environment before.

[@justmoni1111]

In my opinion having No Credit Card makes sense if you already have 100+k net worth/invested. But for us little people that grow up without any financial literacy or $$$$$ within the family, the system/society/government/etc. or whatever you want to call it literally makes purchasing nearly anything without credit impossible. I got sucked into the No Credit Card thing also and I regret it. I lost years of history that I can never get back...

[@brockreynolds870]

I come from a rural German family, so we are VERY thrifty ...so I agree to a great degree with the rice and beans mentality, but you also don't need to go on 4 vacations in the space of 2.5 years when you are in debt. I'd think 2 vacations would be ok. Our family has paid cash for their homes (actually, farms) 4 generations back. WE also don't invest one penny in the stock market. CD's only. I will say that my grandparents having 100,000$ in CD's during the 1976-84 time period, and since they carried zero debt.. they CLEANED UP. And some of that money is what enabled me to pay cash for my house at the age of 25. I've lived without debt my whole adult life, so I have no credit score at all.

[@edwardpresutti2941]

I'd rather be debt free...if things collapse u r in a better position to survive...