Dave Ramsey Idiocy
I really enjoy listening to the podcast because it keeps me financially aware in a way not listening wouldn’t, but wow does Dave Ramsey say shit that seems batshit crazy and sometimes pretty dangerous.
- The whole “credit cards are evil and cash is king and you can just use a debit card.” I. Can. NOT with this shit. In 1000% believe Dave IS right that we spend more when we pay by card. However, the Ramsey hosts act like it is because credit cards are bad, not because having the cash in our hands means we really feel how we we are spending money, rather than with a card. But the hosts do t seem stupid, so do they really think using a debit card has the same psychological effects as cash? The whole point is that it is a card - we don’t actually feel the money is gone in the way we do when we lay out cash. The only benefit of debit over credit is that it is much harder to spend money we don’t have with a debit card. But also, given the insistence on having a budget, which I agree with, why the hell not just pay by credit card when you already know how much you can spend?
2.. I do not get his hatred of credit cards and points. He talks as though people only pay by credit card when they can’t afford the item, and they only accrue points by not paying the balance in full and accruing interest. Oh, I also heard “if you can only afford to go on vacation with points, then you can’t afford a vacation.” Well, no, that is the whole point, these points give you the opportunity to do things you couldn’t otherwise, though I do think paying cash is wisest, Debit has the same effect on spending as credit cards.
3.What is with the repeated “whats in your wallet” hatred of Capetal One cards and how much money Samuel L. Jackson makes from his his ads, but meanwhile, how much money is he making from his special debit cards?
I think the way he talks about loans and school is dangerous. Where you went to school often DOES matter and I don’t know what planet he is on when he says no one cares where your doctor or lawyer went to school.”,Plenty of people DO are, but even if they didn’t, internships absolutely care and so do first jobs. Now, I think he has a point in that sometimes it doesn’t pay off to go to a more expensive n school, but that is vastly different from “ no one cares.” And it greatly disturbs me when he discourages people from going to med school. What the fuck?
I hate the way he talks about not helping parents because that is biblicall. If you don’t want to help your parents, fine, but I have read the Bible numerous times, and when they are talking family, they don’t just mean nuclear, and I don’t think Dave Ramsey is stupid enough to think that. Furthermore, it greatly disturbs me when he actively discourages people from helping family when they can afford to.
These are interconnected, but I am really disturbed how Dave and the team tell people to sacrifice eeee erything to pay off debt asap, and they are basically irresponsible if thry want to do it another way. Like, taking 2 years instead of 1 year to pay off debt is not the end of the world. Which connects to the dismissal of parents worrying about spending time with their kids while paying off the debt. Like, what the fuck, that time is NEVER coming back, and taking a bit longer to pay off debt because you want time with your kids is a GOOD THING.
I also hate the way they are always telling adults to move out of the family home, as it makes them stronger people. If the home is not damaging, why the hell not stay? Parents don’t live forever, and I do t know anyone who really regrets more time with family, unless the family is truly awful.
And fI ally, his messaging about credit scores is so dangerous. He HAS rentals. He has to know no reputable landlord would rent to someone with no credit scores, even, especially, if they can pay a year in cash.