Ramsey debt viewpoint explained

[FREAK]

Some of the best financial advice I’ve ever received was from a friend that’s been a loan officer for his entire career. He showed me 5-6 balance sheets from real world examples. In summary, healthy leveraging is your friend. I’ve met with 3-4 financial advisors and every one told me I’m doing fine and their fee isn’t worth it for me. Doesn’t take a rocket scientist to learn about low cost index funds and the time value of money. I wish I met with the loan officer earlier and learned about healthy leverage.

 

[TN2shot07]

Does Dave still tell people to have thousands of dollars in envelopes around their house lol I always cracked up at that strategy.

I do think they still recommend cashing out certain parts of your budget. It’s really more about managing the budget than being actual cash.

Dave aside, I’m always amazed at people that don’t keep any cash. Almost every restaurant around here (not fast food) and a lot of retail stores have gone to the customer paying the cc fee, I’m sure as hell not adding 3% to a transaction for their convenience. I’m not sure how someone would be excited to claim their 1% cash back while paying extra in the first place.

 

[brymoore]

I do think they still recommend cashing out certain parts of your budget. It’s really more about managing the budget than being actual cash.

Dave aside, I’m always amazed at people that don’t keep any cash. Almost every restaurant around here (not fast food) and a lot of retail stores have gone to the customer paying the cc fee, I’m sure as hell not adding 3% to a transaction for their convenience. I’m not sure how someone would be excited to claim their 1% cash back while paying extra in the first place.

No fee on debit card transactions.

I’m not seeing many fees being charged back in my area, yet. It will happen.

*** I don’t use credit cards - it’s me being lazy and paying credit card from my checking account.

 

[TN2shot07]

No fee on debit card transactions.

I’m not seeing many fees being charged back in my area, yet. It will happen.

That fee is universal here, I don’t use credit cards. Unfortunately I’m afraid it’ll spread, no longer a cost of business they’re willing to absorb

 

[SAJ-99]

I’ve met with 3-4 financial advisors and every one told me I’m doing fine and their fee isn’t worth it for me.

Apparently you have met with the 3-4 honest FAs in your region. You have quite the picker. Use it wisely, FREAK.

 

[longbow51]

While we're discussing CC fees, just got this picture from a friend.

 

[FREAK]

Apparently you have met with the 3-4 honest FAs in your region. You have quite the picker. Use it wisely, FREAK.

I genuinely think it’s a snake oil business.

On the other hand I know many people that would benefit from the service under the assumption(and it’s a big one) they luck into a good one. There are many successful people that are plain incompetent when it comes to managing their money.

 

[Nick87]

That fee is universal here, I don’t use credit cards. Unfortunately I’m afraid it’ll spread, no longer a cost of business they’re willing to absorb

Same here. Pretty much everyone charges for it.

 

[VikingsGuy]

I do think they still recommend cashing out certain parts of your budget. It’s really more about managing the budget than being actual cash.

Dave aside, I’m always amazed at people that don’t keep any cash. Almost every restaurant around here (not fast food) and a lot of retail stores have gone to the customer paying the cc fee, I’m sure as hell not adding 3% to a transaction for their convenience. I’m not sure how someone would be excited to claim their 1% cash back while paying extra in the first place.

Gun stores are about the only place around here that charges for cc. Just assumed and baked in everywhere else so might as well 1% back - cash buyers are paying 3% and I am paying net 2%.

 

[Nick87]

Gun stores are about the only place around here that charges for cc. Just assumed and baked in everywhere else so might as well 1% back - cash buyers are paying 3% and I am paying net 2%.

Restaraunt last night charged us for debit card transaction.

 

[TN2shot07]

Gun stores are about the only place around here that charges for cc. Just assumed and baked in everywhere else so might as well 1% back - cash buyers are paying 3% and I am paying net 2%.

Gun stores have been doing that here as long as I can remember but it’s become common to see it tacked on regular transactions here.

 

[VikingsGuy]

in twin cities we are getting “hospitality fees” in the 7-10% range and sometimes inflation surcharges

It’s all just optics - the final price is the final price - I don’t want to see a clean up fee and a gas/electric fee etc etc. it is really irritating.

 

[TN2shot07]

in twin cities we are getting “hospitality fees” in the 7-10% range and sometimes inflation surcharges

It’s all just optics - the final price is the final price - I don’t want to see a clean up fee and a gas/electric fee etc etc. it is really irritating.

It is irritating. It’s just a way for them to build in an automatic margin, similar to a doc fee when you buy a vehicle

 

[Deleted member 28227]

I do think they still recommend cashing out certain parts of your budget. It’s really more about managing the budget than being actual cash.

Dave aside, I’m always amazed at people that don’t keep any cash. Almost every restaurant around here (not fast food) and a lot of retail stores have gone to the customer paying the cc fee, I’m sure as hell not adding 3% to a transaction for their convenience. I’m not sure how someone would be excited to claim their 1% cash back while paying extra in the first place.

In the last 3 years only thing I’ve payed for in cash were my Xmas trees.

 

[Nick87]

In the last 3 years only thing I’ve payed for in cash were my Xmas trees.

Different strokes, we pay for pretty much anything that we buy in person in cash.

 

[np307]

If you want to save money, learn to love to cook together. You'll have premium ingredients, great wines, and a wonderful outcome for a fraction of the cost. Make it a party.

From our lean years of veggie crepes and Hearty Burgundy to elk backstrap and 2000 Bordeaux it's been a wonderful journey.

And, yeah, we've had the St. Barth's seafood tower at Eden Rock, but also the packaged escargot, deep yellow scrambled eggs, and baguette cooked on the terrace of the place where we stayed there.

Terrace was better. Good wine was cheap, cheese as well, some famous guy left his cookware and, overall, better than 5 star.

Learn to cook with your honey.

There is no charge for this financial advice.

Dave says this is too extravagant. Beans and rice. You don't have time to learn to cook, you should be working. Beans and rice and rice and beans.

 

[cgasner1]

I’ve wondered if Ramsey could do it again. If he didn’t have his net worth and wasn’t peddling his current business model. Do you think he could become rich again following his practices. I remember reading somewhere that if you redistribute all the wealth in this country evenly the rich people would be rich again in under a decade. It’s how they are wired they will find a way to make it back

 

[Nick87]

rich people would be rich again in under a decade

I'd bet the vast majority that earned it would be. Wouldn't bet a whole lot on those who inherited it. I'm painting with a broad brush there but you catch my drift.

 

[cgasner1]

I'd bet the vast majority that earned it would be. Wouldn't bet a whole lot on those who inherited it. I'm painting with a broad brush there but you catch my drift.

I agree. I think it was more stricter to the bezos and musks of the world

 

[nontyp]

Now that we’re all in agreement, does anyone find the new version of Daves show (like last 4 years) to be completely insufferable? I used to listen quite a bit. Every once in a while a new scenario would be presented and I would learn something. Now it’s just a bunch of bad sales people trying to emulate Dave.