Poll

What baby step are you up to?

$1,000 Rainy day fund
Pay off all debt using the debt snowball
3 to 6 months of expenses in savings
Invest 15% of household income into Roth IRAs and pre-tax retirement (401k Etc.)
College /Simcha fund for children
Pay off home early (prepay mortgage)
Build wealth and give!

Author Topic: Dave Ramsey Plan  (Read 55503 times)

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #260 on: July 26, 2020, 01:06:52 PM »
Alot ot the zero apr have a transfer fee as well.
I am in the financial service business, I have seen people that had it all written out, zero apr etc. But life is always not as planned. Banks are money making companies.
Of course you want 0 transfer fees and 0 or low interest.
The point I am making is it is valuable tool that he dismisses.
If you can't pay it off at 0% interest then DR himself will not be able to pay it off at 18%. This is simple math.
This is what I am talking about, common financial sense.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #261 on: July 26, 2020, 01:09:12 PM »
If you want to talk about his motivation on the plan that is fine. When you say it all makes sense on a financial level I will tear it apart.
Now when you put the two together then who knows.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline YoelFried

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jun 2019
  • Posts: 157
  • Total likes: 10
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New York
Re: Dave Ramsey Plan
« Reply #262 on: July 26, 2020, 01:12:07 PM »
Of course you want 0 transfer fees and 0 or low interest.
The point I am making is it is valuable tool that he dismisses.
If you can't pay it off at 0% interest then DR himself will not be able to pay it off at 18%. This is simple math.
This is what I am talking about, common financial sense.
You are like someone who is saying.

I only have buisnees debt (that is personal guaranteed), like the business is some third party.

Maybe your fine with this as well....

It's not always about the numbers or how you name it.

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #263 on: July 26, 2020, 01:16:29 PM »
You are like someone who is saying.

I only have buisnees debt (that is personal guaranteed), like the business is some third party.

Maybe your fine with this as well....

It's not always about the numbers or how you name it.
Sorry you lost me. I am talking personal debt.
Consolidating your CC's to the lowest possible interest rate is sound "financial" advice. Do you or anyone taking his course disagree with this?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline YoelFried

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jun 2019
  • Posts: 157
  • Total likes: 10
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New York
Re: Dave Ramsey Plan
« Reply #264 on: July 26, 2020, 01:25:18 PM »
Sorry you lost me. I am talking personal debt.
Consolidating your CC's to the lowest possible interest rate is sound "financial" advice. Do you or anyone taking his course disagree with this?
Btw, Dave actually recommends to consolidate debt if it will save a bigger amount of money. But to consolidate or not is not the point.


https://youtu.be/OymGGEEhlVA

https://youtu.be/f0pYRLqWIPU

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #265 on: July 26, 2020, 01:38:54 PM »
Btw, Dave actually recommends to consolidate debt if it will save a bigger amount of money. But to consolidate or not is not the point.
Others here say his position is no. The first video he says no. Financial he is 100% wrong and I hope everyone understands that.
He gets back to you are the problem. The problem is he treats everyone like an idiot.
Here is a way for all of you to follow his debt snowball and pay it off sooner.
BT small amounts to different cards. This way you can pay off at 0% and still get that feel good feeling.
That tip is free.  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline zh cohen

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 1340
  • Total likes: 1268
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: Brooklyn
Re: Dave Ramsey Plan
« Reply #266 on: July 26, 2020, 01:46:32 PM »
WOW.
Paying off low balances also makes you feel better and is a temporary fix.


How is it a temporary fix?

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #267 on: July 26, 2020, 01:48:25 PM »
How is it a temporary fix?
You still need to pay off the high balance debts and it is going to cost you more.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #268 on: July 26, 2020, 01:52:12 PM »
We can keep going in circles but I know you all understand what I am saying.
Do any of you feel comfortable enough were you are currently at to transfer your CC debt to a 0% card?
We can run the numbers but you all know it will save you money.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 13280
  • Total likes: 5059
  • DansDeals.com Hat Tips 17
    • View Profile
  • Location: 770
Re: Dave Ramsey Plan
« Reply #269 on: July 26, 2020, 05:08:19 PM »
https://sndup.net/4rq8

For those who know Yiddish.

The ending might be a little off. Might be better off with ending with זעצט מען אן....
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline moko

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2011
  • Posts: 3811
  • Total likes: 696
  • DansDeals.com Hat Tips 2
    • View Profile
  • Location: BOS
Re: Dave Ramsey Plan
« Reply #270 on: July 26, 2020, 05:11:22 PM »
The ending might be a little off. Might be better off with ending with זעצט מען אן....
now I've learned that kaveshteibel and yen coffee room are blocked on my device by Gentech due to "safety policy"

Offline aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 14798
  • Total likes: 10413
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Dave Ramsey Plan
« Reply #271 on: July 26, 2020, 06:39:05 PM »
You still need to pay off the high balance debts and it is going to cost you more.

His concept is that you can then use the payments you had been making to the smaller balance accounts towards the larger balances.
Feelings don't care about your facts

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #272 on: July 26, 2020, 06:44:46 PM »
His concept is that you can then use the payments you had been making to the smaller balance accounts towards the larger balances.
I fully understand his concept.  ;)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline AussieMan

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Feb 2018
  • Posts: 259
  • Total likes: 28
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dave Ramsey Plan
« Reply #273 on: July 26, 2020, 08:02:21 PM »
@CountValentine I agree with you that DR pay off low balance rather than high interest debt is illogical.

Question for you,
If one is allowed to pay 100% of their tax bill in March, would you suggest regardless to pay in installments or rather to put the installments into a interest bearing account and then pay in full at year end.
If you have 0% apr card which you can pay in full each month,would you suggest to pay in full, or better don't pay until the promo is over and put $ into a savings account?

What would you do, and what would you tell others to do?

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #274 on: July 26, 2020, 08:20:55 PM »
I always pay as late as possible.
0% cards I would pay minimum each month until BT 0% runs out.

During the BT frenzy I had over 200k @ 4.5-5% just sitting there.
I have 4 kids.
1 I would say do it and even more if you can.
2 others I would say do it and I would watch them
The other one H*LL NO!!!  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline AussieMan

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Feb 2018
  • Posts: 259
  • Total likes: 28
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dave Ramsey Plan
« Reply #275 on: July 26, 2020, 08:29:09 PM »
Amazing
I asked you a question and you answered it.

ממנו יראו וכן יעשו

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #276 on: July 26, 2020, 08:32:23 PM »
Amazing
I asked you a question and you answered it.

ממנו יראו וכן יעשו
We are not in JS.  ;)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Online ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 13280
  • Total likes: 5059
  • DansDeals.com Hat Tips 17
    • View Profile
  • Location: 770
Re: Dave Ramsey Plan
« Reply #277 on: July 26, 2020, 09:02:44 PM »
I always pay as late as possible.
0% cards I would pay minimum each month until BT 0% runs out.

During the BT frenzy I had over 200k @ 4.5-5% just sitting there.
I have 4 kids.
1 I would say do it and even more if you can.
2 others I would say do it and I would watch them
The other one H*LL NO!!!  :)

But doesn't keeping balances (even at 0%) hurt your score?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 12377
  • Total likes: 4617
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Dave Ramsey Plan
« Reply #278 on: July 26, 2020, 09:23:01 PM »
But doesn't keeping balances (even at 0%) hurt your score?
Yes.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline thaber

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2008
  • Posts: 3414
  • Total likes: 345
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Dave Ramsey Plan
« Reply #279 on: July 26, 2020, 10:00:00 PM »
I always pay as late as possible.
0% cards I would pay minimum each month until BT 0% runs out.

During the BT frenzy I had over 200k @ 4.5-5% just sitting there.
I have 4 kids.
1 I would say do it and even more if you can.
2 others I would say do it and I would watch them
The other one H*LL NO!!!  :)
The reason you don't get DR, is because you're a responsible and smart person who doesn't play stupid and doesn't borrow money unless they are certain they can pay back.
You are an exception to the rule, which is why 40-60% of American I have revolving credit card debt, and 70% have nothing in savings put away.
All those people need hand holding, motivation, and should not have debt at all, like child #4. DR helps them, because you're not their dad.