Evolving Personal Finance » Entries tagged with "Dave Ramsey"
You Must Try with Your Finances. What’s the Alternative?
One person at my Financial Peace University table this fall has what Dave would term a relatively small “shovel” (income) in comparison with his outstanding debt. He was also a little older than the average table age, though still quite young in objective terms. This person asked a couple questions a long the lines of “Do you think any amount of debt can be paid off?” and “Is it ever too late to start saving … Read entire article »
Filed under: debt
The Thinking Person’s Guide to Dave Ramsey: Realistic Wealth Building
You commonly hear, “Dave Ramsey is great on debt, not so much on investing.” To his credit, he does advocate that everyone who is debt-free saves 15% toward retirement, which is a great start. But listening to his specific investing advice sets the expectations of the portfolio growth too high and will likely cause the investor to take on too much risk. Unconventional Strategy Dave Ramsey’s investment advice for everyone is to invest in four types of … Read entire article »
Filed under: investing
The Thinking Person’s Guide to Dave Ramsey: Swapping Baby Step Order
This is the fourth installment of this series on reasonable way to adapt Dave Ramsey’s Baby Steps program to fit your financial goals. You may want to reference last week’s post on intra-Baby Step modifications to familiarize yourself with the steps before we dive into this week’s discussion of inter-Baby Step modifications. The big difference between Dave Ramsey’s approach to managing debt and investments and other financial professionals’ is that Dave Ramsey does not care about … Read entire article »
The Thinking Person’s Guide to Dave Ramsey: Reasonable Baby Step Modifications
As we discussed in the two prior posts in this series, Dave Ramsey’s (DR’s) program for getting out of debt and building wealth works very well for some people but may be inappropriate for those who don’t agree with all of the underlying principles. The next two posts are intended for people are curious about following the Baby Steps loosely but who want to know what some reasonable modifications may be. In this post, we … Read entire article »
Filed under: choices, debt, emergency fund, giving, goals, psychology, savings
The Thinking Person’s Guide to Dave Ramsey: Underlying Principles
As I stated in the overview for this series, in this first post I will share what I have observed are the key foundational views of money on which Dave Ramsey’s entire program is based, the underlying principles. If you disagree with any one of these views, DR’s program is either not for you or you will want to make some modifications to follow it successfully. You Want to Plug in to a Simple, Universal Program DR’s … Read entire article »
Filed under: debt, psychology, savings, values
The Thinking Person’s Guide to Dave Ramsey: Overview
There is no question that Dave Ramsey’s (DR’s) financial coaching has helped millions of people improve their finances through paying off debt and saving for emergencies and their futures. However, DR’s program is quite unconventional and it can be difficult to reconcile his advice with that of financial advisors, coaches, and authors. Now that I have been through Financial Peace University, read The Total Money Makeover, and listened to The Dave Ramsey Show for a couple … Read entire article »
The 3 to 6 Month Emergency Fund
I can see why people find Dave Ramsey’s baby steps attractive, I really do. As someone who is prone to paralysis of analysis (and whose husband is even more prone), executing an instruction is so much easier than making an informed decision and then carrying it out. While watching week 1 of the FPU videos last week on “super saving,” my thoughts were on that 3-6 month emergency fund. We’ve had $1,000 set aside (baby step … Read entire article »
Filed under: emergency fund
FPU: I Get to See What All the Fuss Is About!
Tomorrow I am starting a 9-week commitment to help my church administer Dave Ramsey’s Financial Peace University class – having never gone through the course myself! My role is as a “table host” so I’m not actually the coordinator (thank goodness!) and as I’ve been a fan of DR’s for some time (as a radio personality, not so much as a financial advisor) and am very familiar with his philosophy so I think I’ll be … Read entire article »
Budgeting, Tracking, or Neither?
I’ve added a new podcast to my rotation – Ric Edelman’s The Truth About Money. I don’t know how well-known RE is nationally, but he works in the area where my parents live so I’ve heard of him a few times. He has a totally different money philosophy than Dave Ramsey (low-interest debt is great!) so I started listening to it to safeguard against becoming brainwashed by DR. During last week’s show the hosts were discussing … Read entire article »
Wait a Second, Do I LIKE Dave Ramsey?
When I wrote about my favorite podcasts on money last week, I mentioned that I was checking out a new one (LiFE). What I didn’t say was that I had added another podcast: The Dave Ramsey Show. I figured I would only listen to an episode or two and then unsubscribe, as I do with many podcasts. After all, I knew Dave’s message, and it wasn’t for me. I had already been into personal finance for … Read entire article »
Filed under: podcasts
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