
From my perspective, it seems that financial guru Dave Ramsey has an almost cult-like following among a lot of people. I’ve known about Ramsey for a long time, but it wasn’t until a few weeks ago on a trip to Louisiana that I actually had a chance to listen to his radio program.
A couple of weeks ago on my trip to San Antonio, I was able to listen to some of his program again.
From my limited exposure to Ramsey, I considered his financial advice to be pretty un-revolutionary. That’s not a knock on him, just an observation that he’s not promoting any concepts that blew me away. He preaches the wisdom of getting out of debt, of building an emergency fund, of preparing for retirement, etc. – pretty much, the kind of stuff that anyone ought to know about. Of course, from listening to some of the callers on his radio program, it became apparent that there are a lot of clueless people when it comes to financial matters.
“Hi Dave, do I have enough money to buy a new motorcycle? I’m bringing home $22,000 a year and have eight kids.”
I never cease to be amazed at how people insist in living beyond their means. They rack up thousands of dollars in credit card debt, drive fancy cars, buy houses they can’t afford – and wonder why it is they are in such dire financial straits. Gee, I wonder.
This weekend, while I was visiting my parents, I read through Ramsey’s book, “The Total Money Makeover.” It’s pretty much a rehash of what he talks about on his radio program (so save your money on the book, listen to his show a couple of times, and you’ll get the gist of it).
There’s certainly some biblical wisdom here. He discusses the folly of pleasing men and “keeping up with the Joneses,” because the Joneses, most likely, are head over heels in debt. He talks about the importance of living modestly. He deals with some common myths that keep people in debt.
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