Anyone follow Dave Ramsey ?

[Pandubabu]

Musalode kani

[stag]

I do.. paid off all credit cards and on track to pay off car loan early..

follow avuthanu but most religious ga follow avvanu. I still apply credit cards for miles etc which he is against.

[AFDB_Director]

he's good for ppl who are financially frocked up completely. He says to eat rice and beans until you are debt free. 

Mana desis chala mandhi savings chestaru. so, his suggestions are irrelevant most of the time. 

but he says to take 15 year mortgage and spend only 25% of monthly income on house which is highly unlikely for most ppl. rest all are good suggestions for financially f**cked up ppl

[subbu234]

I felt his ideas are targeted towards people with no financial understanding. Not a good reference for people looking to up their wealth.

He can save you from broke but can’t help you grow money is what I felt.

[HugoStrange]

He is too extreme to one side. Zero debt ani chepthadu, there is good debt and bad debt. Pay off bad Debt and mantain good debt is much better.

Home konadam lo complete ga money unte ne konamantadu or 15 years ki vellamantadu. The interest rate is 3 to 4 % on mortgages. So final ga nuvu S & P 500 lo invest chesina at the end of 30 years you will be in much better situation than his plan

Also Snowball method to payoff debt works for emotional people with zero financial knowledge but its a bad method in most cases. Neku high interest loan 100k undi and low interest loan loan 10k unte he says pay off 10k but the interest you are paying is much higher. 

Combine his method with Robert Kavasaki (good debt and bad debt) asset and liability his description is awesome and also Think and Grow Rich book (see youtube video in 10min use head phones) chesthe awesome untundi

[Pitta]

[idibezwada]

waste...andariki okate solution...irrespective of what their goal is or what their financial status is

[idibezwada]

1 hour ago, stag said:

I do.. paid off all credit cards and on track to pay off car loan early..

follow avuthanu but most religious ga follow avvanu. I still apply credit cards for miles etc which he is against.

I should be a fool to pay off my car loan early when its only 2-4% apr where if i can invest the same in stocks i will be getting around 7-9% in indexes

[Peddayana]

2 minutes ago, idibezwada said:

I should be a fool to pay off my car loan early when its only 2-4% apr where if i can invest the same in stocks i will be getting around 7-9% in indexes

nenu chesa idi , but I wanted to be debt free at that time so did it , now looking back I would have rather invested that money in stocks

I'm sure atleast 20% up undedi

[idibezwada]

10 minutes ago, Peddayana said:

nenu chesa idi , but I wanted to be debt free at that time so did it , now looking back I would have rather invested that money in stocks

I'm sure atleast 20% up undedi

there is no point in bringing emotions into investing....with an empty pocket If I am taking a loan with 3% apr and making 5%...2% profit is getting into my pocket with free of cost

[Pandubabu]

1 hour ago, idibezwada said:

there is no point in bringing emotions into investing....with an empty pocket If I am taking a loan with 3% apr and making 5%...2% profit is getting into my pocket with free of cost

But for folks who live paycheck to paycheck with no savings , it is a good idea to get this debt done before starting to invest