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 106122 times)

Online Mordyk

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Re: Dave Ramsey Plan
« Reply #380 on: November 13, 2020, 07:38:14 AM »
Suffice it to say that getting into that much debt impacts many people and aspects in and of your life. An honest telling of my story, which is what a compelling DDMS would require, would mean publicizing details I didn't include in my DDF post, and which I wouldn't want public.
וד"ל
I understand.   When I discuss it with family or people that I'm close with (and I guess now with DDF) I say that yes I messed up, but I messed up early on BH!  This gives me the wisdom and knowledge never to make that same mistake again!

Offline Kobe Bryant

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Re: Dave Ramsey Plan
« Reply #381 on: November 13, 2020, 07:47:35 AM »
“I have a Ph.D in D.U.M.B” DR

Online aygart

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Re: Dave Ramsey Plan
« Reply #382 on: November 13, 2020, 08:32:06 AM »
I understand.   When I discuss it with family or people that I'm close with (and I guess now with DDF) I say that yes I messed up, but I messed up early on BH!  This gives me the wisdom and knowledge never to make that same mistake again!
This is an amazing lesson in life. People mess up, but as long as you are self aware you can recover and end up stronger than you were before! Chazak vematz!
Feelings don't care about your facts

Online Mordyk

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Re: Dave Ramsey Plan
« Reply #383 on: November 13, 2020, 11:31:17 AM »
This is an amazing lesson in life. People mess up, but as long as you are self aware you can recover and end up stronger than you were before! Chazak vematz!
:)Thanks! especially when it comes to debt, I see so many people in despair that they continue and make matters worse.
#TYH

Online aygart

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Re: Dave Ramsey Plan
« Reply #384 on: November 13, 2020, 01:49:54 PM »
:)Thanks! especially when it comes to debt, I see so many people in despair that they continue and make matters worse.
Oh yes! And this is one of the big parts of the DR system-that the user sees a path to get out of their hole. This is also part of the purpose in paying the lowest balance first. What kind of motivator did you find it to be when you got that account down to zero?
Feelings don't care about your facts

Online ExGingi

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Re: Dave Ramsey Plan
« Reply #385 on: November 13, 2020, 01:56:52 PM »
Oh yes! And this is one of the big parts of the DR system-that the user sees a path to get out of their hole. This is also part of the purpose in paying the lowest balance first. What kind of motivator did you find it to be when you got that account down to zero?

Just another piece of evidence that finance ≠ math.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

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Re: Dave Ramsey Plan
« Reply #386 on: November 13, 2020, 02:00:04 PM »
Oh yes! And this is one of the big parts of the DR system-that the user sees a path to get out of their hole. This is also part of the purpose in paying the lowest balance first. What kind of motivator did you find it to be when you got that account down to zero?
Oh yeah. My spreadsheet is almost done.  Planning the kiddush already ;)

The kiddush is not for out of debt, Its for financial freedom that i gained

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Re: Dave Ramsey Plan
« Reply #387 on: November 13, 2020, 02:26:45 PM »
Just another piece of evidence that finance ≠ math.
I teach my kids both.
Only on DDF does 24/6 mean 24/5/half/half

Online Mordyk

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Re: Dave Ramsey Plan
« Reply #388 on: November 13, 2020, 02:38:33 PM »
I teach my kids both.
Exactly.   If they would equal each other then you would only have to teach one  ;)
#TYH

Offline yesitsme

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Re: Dave Ramsey Plan
« Reply #389 on: November 13, 2020, 02:40:16 PM »
I'm not good at math
["-"]

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Re: Dave Ramsey Plan
« Reply #390 on: November 13, 2020, 02:43:27 PM »
Exactly.   If they would equal each other then you would only have to teach one  ;)
...but they go hand in hand. You have to question finance that doesn't make sense math wise.
Only on DDF does 24/6 mean 24/5/half/half

Online Mordyk

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Re: Dave Ramsey Plan
« Reply #391 on: November 13, 2020, 03:16:41 PM »
...but they go hand in hand. You have to question finance that doesn't make sense math wise.
Long discussion for a Friday afternoon.  Remind me Monday at lunch time :D
#TYH

Online aygart

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Re: Dave Ramsey Plan
« Reply #392 on: November 13, 2020, 04:03:08 PM »
...but they go hand in hand. You have to question finance that doesn't make sense math wise.
Otherwise known as behavioral finance
Feelings don't care about your facts

Online CountValentine

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Re: Dave Ramsey Plan
« Reply #393 on: November 13, 2020, 04:09:16 PM »
Otherwise known as behavioral finance
...and extremely dangerous.
Only on DDF does 24/6 mean 24/5/half/half

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Re: Dave Ramsey Plan
« Reply #394 on: November 14, 2020, 06:48:22 PM »
...and extremely dangerous.

6ft under is danger free.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Online ExGingi

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Re: Dave Ramsey Plan
« Reply #395 on: November 14, 2020, 10:09:15 PM »
...but they go hand in hand. You have to question finance that doesn't make sense math wise.

So are you saying psychology should be questioned?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Kobe Bryant

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Re: Dave Ramsey Plan
« Reply #396 on: November 14, 2020, 10:26:33 PM »

Online aygart

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Re: Dave Ramsey Plan
« Reply #397 on: November 14, 2020, 11:06:45 PM »
So are you saying psychology should be questioned?
...and extremely dangerous.
Feelings don't care about your facts

Offline Lurker

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Re: Dave Ramsey Plan
« Reply #398 on: November 14, 2020, 11:08:09 PM »
So are you saying psychology should be questioned?

Always.
Failing at maintaining Lurker status.

Offline daybyday

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Re: Dave Ramsey Plan
« Reply #399 on: November 15, 2020, 12:28:10 AM »
I love listening to Dave Ramsey, but i feel like he's better suited for people with lower income. Personally I carry two mortgages and they both generate income b"h.
Why should i hurry to pay off these mortgages instead of searching for more opportunities for income generating properties?