Confidence and Success > How To Be Successful
Financial Help
GASlick:
I read his book several months ago. It's hardcore.
thebbqguy:
I'll chime in a vote "Yes" for Dave Ramsey. He's also on TV several nights each week.
He speaks from experience.
Tyler:
I'm a big YES for Dave Ramsey also.
I started putting his Fox program on in the background while my wife and I were doing chores. He really spoke to me. After a couple of weeks my wife started to comment on how we should apply more of his techniques - success! We just paid off our second car a year early and have no more car payments, our debt is getting paid down faster and faster, and we eventually will be able to start paying the mortgage down. We're a long ways off, but we now use cash for everything and if we don't have the cash for something, we'll save for it. You really do start cutting down on the things you don't really need.
We also did things to bring in extra income. My wife started a business that only takes about 1 day a week and we also rented out a spare room to a student from abroad. It's has been a cultural experience and provided a valuable source to pay even more debt down.
stemikger:
Good Luck Hammerdrill376. I have know Dave for many years. I was even a caller on his show and I saw him live when he did the Total Money Makeover in New York City. He gave me the free tickets when I called him.
The truth of the matter is I am a personal finance junkie. Some guys tinker with cars, others play golf. I eat up Personal Finance books as fast as they come out from the publisher. I have read hundreds on the subject of investing and personal finance.
Dave Ramsey is no doubt the best out there, but in all honesty I can't agree with his investing advice. If I were you when it comes to investing read a book called Common Sense on Investing by John C. Bogle. You can still do Dave's plan, but really consider other investing options.
That's what I have done. I am currently two years away from paying off my home (Baby Step 6). I have no other debt and a fully funded emergency fund. However, during this process, I only cut back on my 401K but never stopped it.
I don't make a huge salary and was able to get this far. If I can do it so can you. I'm 45 now soon to be 46 and in two years I will know what true freedom is when I burn the mortgage.
Like you and others said, it is not easy and you will encounter many set backs, but stay the course and always think like the Gazelle running from the lion. Good Luck Sly Brother. If you need any advice, feel free to e-mail me and I can give you advice on other books and websites that I frequent.
Robmeister:
Dave Ramsey advocate here too as far as his system of getting people out of debt.
I will be the voice of dissention on the fact that when it comes to life insurance, he is just WRONG about the one-size-fits-all advice regarding term insurance. Check out this clip. Again, he's just WRONG (and a little arrogant and condescending, I might add). This "Tyler" asked a totally valid question.
Here's a blog where several financial professionals weighed in (including myself).
http://blog.ifawebnews.com/dave-ramsey-says-that-only-term-life-insurance-is-worthwhile-everything-else-is-garbage/
Don't mean to be a stick in the mud. Ramsey has helped hundreds of thousands with a turn-key system to get out of debt. He just doesn't know EVERYTHING.
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