Credit Debt Cures
Have you ever heard of Dave Ramsey?
Anyone out there getting out of debt with Dave Ramsey's plan? What do you think of it?
Public Comments
- simple summary -- 1. stop borrowing -- no excuses whatever. do NOT borrow. 2. make 110% of the required minimum payments on your debts 3. live on the remainder of your income *** the rest is all details. the same good advice has been available from many other sources for years
- You can get out of debt with or without Dave Ramsey but I do like his no nonsense approaches. Only by setting goals can you achieve them and that's pretty much what he preaches. I enjoy watching his tv show and comments to callers. So many consumers want it all and as a result turn to credit/loans to get it. The problem isn't getting credit as repaying it. It is important to come up with a plan, set priorities but actively work on the plan by increasing income and/or reducing expenses. What works for one household probably won't work for another. It's important to communicate and compromise for immediate, short term and long term goals. The nutshell is that unless you can pay cash for something, you really can't afford it.
- Yes, love him. Yes we are getting out of debt using his plan. His plan is the same that many people talk about (Crown Financial for one) he just has a no-nonesense attitude and tells it like it is. The concepts and his book and class and media are very easy to understand...for everyone. He doesn't talk above you with all financail words and show you that he has a business/finance degree. Instead he uses everyday examples and easy to follow insturctions. After all, he is selling common sense! (The thing is most of us missed the financial common sense!). At minimum, read the Total Money Makeover and decide for yourself. As he says, "if you become debt free and decide you don't like, you can always go back into debt." :-) We have been following his plan for 3 years, chopped up all credit cards when we started, paid off over $45k in debt. Less stress and love using cash. We are facing a lay off in June and it is still stress ful but not as stressful if we were still spending over our take home pay.
