do you love Dave Ramsey?
2006-08-03 08:31:56 · 16 answers · asked by wheniawoke 3 in Business & Finance ➔ Personal Finance
if you don't know who Dave Ramsey is check him out.
www.daveramsey.com
it's so important that you do, listen to him on the radio. PLEASE!! you will thank me for it
2006-08-03 08:40:54 · update #1
oh yea, and there is no "good"debt. none, home loan, nope, student loan, nope, revolving credit, nope again.
2006-08-03 08:41:58 · update #2
hey jokerkid, good luck on getting out of debt, your gonna need it
2006-08-03 11:59:32 · update #3
Dave Ramsey is the best!!!! There are so many people that need to read his books. Beans and rice, rice and beans!
-Angela
http://www.ratraceclub.com
2006-08-03 12:43:37 · answer #1 · answered by Biancoa 4 · 1⤊ 1⤋
I'm sorry, leveraging money (Debt) is the basis to going from well off to filthy stinkin rich. If Dave Ramsey is preaching "there is no good debt" he is a financial moron. I don't have a mortgage on my home but i can gaurantee not having a mortgage on my rental properties (one that's covered by the rent roll) is not a sound decision. The only reason the Hiltons are still in business is becuase they where so leveraged the banks decided not to take back thier hotels when they went bust in the early 90's.
Let me ask you this...
If you can borrow money at 5% and invest it at 8%, is that a good decision??? Remember, you didn't earn the money, work for it, nothing. it was lent to you at the promise you would repay the note at 5% interest and you can take that money and put it into an investment engine that will pay you 8%... would you like me to give you 3% of that money??? I think even a well trained monkey can tell me the answer to this.
2006-08-03 17:44:14 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Yeah, I'm debt free, but I'm also broke b/c I've been investing all my money. However, that's "good debt". Dave Ramsey sounds like a guy trying to play it safe and stay in the middle class. I'd rather play it smart and get rich.
2006-08-03 17:06:33 · answer #3 · answered by Josefina R 2 · 0⤊ 1⤋
Congratulations. But, I do have a question. You said, "no good debt"? What do you live in? It is better to pay a mortgage than pay rent. You might want to check that out with Dave. He also says that you should try to get 20% before buying a home...that's to keep you from paying PMI.
However, I am debt free and I own my home.
2006-08-03 15:56:21 · answer #4 · answered by voandginger 4 · 1⤊ 0⤋
I have looked into Dave Ramsey. His teachings are great. The only thing that scared me was having to work 3 jobs or more to do it. Yikes! Did you do that?
There is more that one way to skin a cat.
I did it with another company and now I don't even have to have a job.
2006-08-03 16:49:49 · answer #5 · answered by RDP 2 · 0⤊ 1⤋
yes i'm debt free too. i don't know who dave ramsey is though.
2006-08-03 15:36:18 · answer #6 · answered by jbslass 6 · 0⤊ 0⤋
I have lots of debt, but it's good debt and I have the assets to cover it. I think people get too caught up in removing debt, some debt is healthy.
2006-08-03 15:37:15 · answer #7 · answered by Kris C 2 · 0⤊ 2⤋
i owe about $5k on student loans and $10k on a car, but besides that i don't owe anything. i'm soooo much better off than most people so i can't complain about the little i do have. congratulations on your freedom.
2006-08-03 15:35:22 · answer #8 · answered by Nova J 3 · 0⤊ 0⤋
I wish. Like a ton of other American's, I am swimming in debt...
2006-08-03 15:36:30 · answer #9 · answered by ozzysgirl 2 · 0⤊ 0⤋
Dept Free?! I love that statement. would you like to make long term passive residual income??
2006-08-03 17:02:41 · answer #10 · answered by fellicia_r2001 1 · 0⤊ 0⤋