Think of it like using the patch to quit smoking. Some people might ask “why give up one addiction for another?” But the point is that it helps build proper habits one step at a time.

Many people think “I don’t need the motivation, I’ll go with the numbers.” That may be true if the debt is from medical bills or divorce. But if it came from overspending then habits need reformed and Ramsey’s method is worth a shot.

Regardless, the question you ask about 100 people is irrelevant. Dave doesn’t tell people that this is the solution that everyone will be able to do. He tells people to try it. And it works for some people, I hear them on the radio every Friday which is the day that Dave’s radio show does lots of people talking about how they get debt free.

It may only be 1 out of 100 people, but it’s worth a try…which is all Dave says.

Come on now. Out of 100 people, how many can walk in a credit union on Monday and walk out with this loan?

saladdin

Dave has never said that many of the things he says never to do can’t make you money.

He says that his method carries less risk, and that is just a plain fact that any economist or accountant worth his salt will agree with.

For example, it’s trivially obvious that many people have gotten rich by borrowing money. Dave Ramsey’s point is that in his opinion the added risk of borrowing money isn’t worth the added speed with which you can get rich by doiong so. He’d rather build wealth slowly and steadily by investing his own earned income.

His advice is doubly true for those who his show is targeted at…those who have already shown a weaker ability to manage debt appropriately by, for example, getting into mountains of credit card debt.

impressed @ your liquid wealth. Listened to Dave Ramsey off and on for 15 years. His popularity is astounding. 450 radio stations carrying his program in the U.S.
One correction,he only filed BK once,I think you need to do a little more research before you go crowing about how your resume stand up to his. how many people do help on a daily basis who are at the brink of disaster with thier finances?

It’s not like Dave is telling people to go out and blindly sell their vehicle and then just hope they can get a loan for the difference.

He tells people to try and find one that will before they sell the vehicle.

Many credit unions will do this.

It obviously works at times, because his radio show has people call in saying they’ve done just that.

False. He was forced to file bankruptcy one time. At the time his net worth was $4 million, and the reason he had to file bankruptcy was that one of his lenders was bought out by a bigger bank which called $1.2 million of his loans in within 90 days. They did this because of the Tax Reform Act of 1986 drastically reduced the value of many real estate investments.

Your whole post is called an argument from authority ( http://en.wikipedia.org/wiki/Argument_from_authority )…a common logical fallacy, and a poorly done one at that. Dave Ramsey has helped thousands and thousands of people get out of debt and build their net worth. You are one person. I guess he wins.

Actually, you do not have to pay to get his advice, you can borrow his book from the local library—now you don’t have to pass. I would add that I do not see anything wrong with someone earning a living by helping others. Dave Ramsey has put together a very helpful series that he should get paid for–Financial Peace University.

Across America people everywhere, are forking over hundreds of dollars for debt consolidation. Charging $100 for a lifetime membership which includes audio cd’s, books and more, and transforming lives is much more valuable to me than not paying anything to learn more and staying in debt.

Trust me, I think in terms of logic as well, and as Dustin pointed out, it is still logical to take into consideration other psychological factors when trying to take on something as hard as consumer debt. You yourself said there is more than one way so why would you then call someone illogical for not using your self-professed—”LOGICAL” method.

I would also like to point out that someone such as yourself—who admits to never having been in debt because they use “logic and math”, then it would be hard for you to make a determination about which way is better.

I work closely with people who use Dave Ramsey’s method, and I can tell you that it is proven. I also know people who are stuck doing math, and can’t seem to find the motivation to continue getting out of debt. They go back to the same habits only to find out that they are deeper in debt than they were before. If only they would have been Dave Ramsey fans.

As far as toning it down, I am not really sure what you are referring to. There was nothing over the top about my comment. You posted your response and I asked you questions that I felt were relevant to what you said. Sorry I hurt your feelings.

If anything I thought your comment was rather condescending when it should of been more of a celebration that Nick got out of debt. There is a time and a place to talk about different methods but this was not the time or the place.

In my world when someone becomes debt free, it’s worth enormous applause and celebration, regardless of whether or not they used the method I think is best. The bottom line, and most important thing is that they are debt free…correct?

Also, please do not mistake my passion for negative, or confrontational tones. My mission in life is to get people to become debt free so they can live life and enjoy the fruits of there labor, so they can give more money to others in need, and so they can provide a stable and secure financial foundation to pass down to future generations…so I’ll leave the math to you.

That’s perfectly logical.

Getting out of debt is about stating motivated. If you try and pay off your highest interest rate debt first it will take you longer to gain momentum. Anyone who has actually paid off debt will tell you that momentum is important. Psychologically, it is more beneficial to achieve the quick wins right from the beginning.

Trust me, it’s not just you, many others have the same issue. I would say this: Do you want to do good math, or do you wanna get out of debt?

I and many others have used this method to get out of debt. It is a proven method.But don’t let logic get it the way.