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DTLB58
06-25-2005, 10:03 AM
In observance of Independence day Dave Ramsey is selling his latest book "The Total Money Makeover" for only $10.00! It is regularly $28.00

Also yesterday, he started selling and giving away "Freedom" wristbands. You will get one of these for free with a purchase of the book or you can buy the orange wrist bands that symbolize working his plan and living your life DEBT FREE 5 for $5 and he pays the shipping.

If any of you are not familiar with Dave Ramsey here's a quick low down.

Dave Ramsey teaches to Beat debt and build wealth. He believes your greatest wealth building tool is your income. But you can't build wealth with that income if all your money is tied up in payments. So he first teaches to GET OUT OF DEBT using 7 baby steps to financial "Freedom"
These steps are NOT a get rich quick scheme by any means actually it's the exact opposite as he says the tortise wins every time over the rabbit in finances. This is just common sense that your grandmother used. If you don't have the money for something you don't buy it. Cut up the freaking credit cards, we did 2 1/2 years ago (use debit cards) go on a monthly budget, pay off your bills and STOP borrowing money today!

Me and my wife have been following this plan for 7 months now. We are currently in baby step 2 and we have payed off $13,646.24 Next year by this time we will be debt free (except the house, which is baby step 6) This money plan has been the single most important thing in our lives this past year and our marriage is now stronger than ever because we don't fight about money anymore. When you sit down every month BEFORE the next month starts and do a budget and agree how you are going to spend that money then there's nothing to fight about when the money is spent because you both agreed on it in advance. I know things come up during the month that aren't planned, but then you BOTH sit down and discuss it and make an adjustment to the budget and continue on. The average person that does the Toal money makeover is debt free except the house in 18-24 months!

If you have to much month left over at the end of your money and you sit down every month to do your bills and you have that heaviness come over you not knowing who your going to pay or not pay, the phone is ringing from credit card companies and other collector's and your SICK AND TIRED OF BEING SICK AND TIRED! Then this plan is for you! Go to Daveramsey.com and give it a try. You can listen to his 3 hour radio show there which is archived everyday.

IF YOU CAN LIVE LIKE KNOW ONE ELSE (A BUDGET, NO CREDIT CARDS, NO BORROWING PERIOD AND PAYING OFF YOUR DEBTS LIKE A CRAZY PERSON). LATER, YOU CAN LIVE LIKE KNOW ONE ELSE (PAYING CASH FOR THINGS, LIKE CARS,VACATIONS AND GIVING MONEY AND HELPING PEOPLE OUT) and not feeling the stress on you and your marriage.

Brock
06-25-2005, 10:46 AM
In other news, Ron Popeil wants to send you some free julien fries.

DTLB58
06-25-2005, 10:55 AM
In other news, Ron Popeil wants to send you some free julien fries.

Don't know what you mean by that dude.....

elvomito
06-25-2005, 10:57 AM
gravity now comes in two flavors
cocoa beach, here we come!

Phobia
06-25-2005, 12:46 PM
Dude - if you need me to float you a loan to buy some ChiefsPlanet gear, let me know. I think I can secure you a reasonable 2.9% MPR.

Braincase
06-25-2005, 01:43 PM
I have the complete solution right here. (http://www.spam.com/)

Ultra Peanut
06-25-2005, 01:48 PM
Sorry, I only entrust dwarves with my monetary future.

<img src="http://www.restless-youth.com/media/awards13.jpg" style="width: 100px; height: 120px; border: 0" alt="" />

eazyb81
06-25-2005, 03:05 PM
thanks for the spam.

If you really are that bad with money, then I would suggest seeking the help of a financial advisor, rather then some random book.

the Talking Can
06-25-2005, 03:20 PM
pacfan?

Ari Chi3fs
06-25-2005, 03:22 PM
Ok DaveRamsey58

the Talking Can
06-25-2005, 03:24 PM
kcjohhny?

have you finally severed the last connection with reality?

Bwana
06-25-2005, 03:51 PM
.

|Zach|
06-25-2005, 03:53 PM
This reminds me, I need to pick up my "question mark" infomercial suit at the dry cleaners.

Ultra Peanut
06-25-2005, 04:19 PM
This reminds me, I need to pick up my "question mark" infomercial suit at the dry cleaners."Oh, really?"

Taco John
06-25-2005, 04:30 PM
That freedom wristband is hot.

I'm all upons.

whoman69
06-25-2005, 04:45 PM
Spammity spam, spammity spam, spam, spam, spam, spam, spam

Phobia
06-25-2005, 05:28 PM
I didn't perceive it as spam or it would be gone. I really think DTLB58 is passionate about the Dave Ramsey plan.

Taco John
06-25-2005, 05:30 PM
I didn't perceive it as spam or it would be gone. I really think DTLB58 is passionate about the Dave Ramsey plan.


It's not spam. He's excited about something that is working for him and thought he'd share it. Now if he were pushing scientology though, you might have to crack his Thetan ass... ;)

DTLB58
06-25-2005, 06:29 PM
I didn't perceive it as spam or it would be gone. I really think DTLB58 is passionate about the Dave Ramsey plan.

Yes I am. Thanks!

DTLB58
06-25-2005, 06:30 PM
Ok DaveRamsey58

ROFL

DTLB58
06-25-2005, 06:34 PM
thanks for the spam.

If you really are that bad with money, then I would suggest seeking the help of a financial advisor, rather then some random book.

Uh, Dave Ramsey IS a financial counselor. If you would take a minute and go the web site you would have found that out.

And what part of my post said I was BAD with money. This year we have paid off more than $13,000 in debt, I do a budget so I know where EVERY $ is spent and my check book balances to the penny EVERY time!

I credit a LOT of this to Dave Ramsey. I don't see a thing wrong with that.

DTLB58
06-25-2005, 06:36 PM
Sorry, I only entrust dwarves with my monetary future.

<img src="http://www.restless-youth.com/media/awards13.jpg" style="width: 100px; height: 120px; border: 0" alt="" />

Yes he was seen on TV. Last Novemeber on 60 minutes. That's where I foound out about him for the first time. ROFL

DTLB58
06-25-2005, 06:37 PM
Dude - if you need me to float you a loan to buy some ChiefsPlanet gear, let me know. I think I can secure you a reasonable 2.9% MPR.

I DON'T borrow money, thanks anyways. :p

DTLB58
06-25-2005, 06:43 PM
thanks for the spam.

If you really are that bad with money, then I would suggest seeking the help of a financial advisor, rather then some random book.

Oh yea, and the "Random" book you spoke of is on the N.Y. Times BEST seller's list :clap:

Jenson71
06-25-2005, 06:50 PM
Maybe you should treat me to Beck's in CF now that you're so rich.

eazyb81
06-25-2005, 07:01 PM
Uh, Dave Ramsey IS a financial counselor. If you would take a minute and go the web site you would have found that out.

And what part of my post said I was BAD with money. This year we have paid off more than $13,000 in debt, I do a budget so I know where EVERY $ is spent and my check book balances to the penny EVERY time!

I credit a LOT of this to Dave Ramsey. I don't see a thing wrong with that.

I said you should SEE a financial advisor, not read a book that a financial advisor wrote. Everyone's situation is different, there just isn't a general formula that works for every particular situation.

That's nice that you are smart with your money now, but being over $13,000 in debt (i'm assuming CC debt) leads me to believe that you were bad with money at some point. But congrats, whatever works for you.

ENDelt260
06-25-2005, 07:04 PM
I've got $130,000 in debt.

eazyb81
06-25-2005, 07:05 PM
I've got $130,000 in debt.

that's too bad.

Jenson71
06-25-2005, 07:06 PM
I owe my mom $17

Phobia
06-25-2005, 07:07 PM
I owe my mom $17

Ask if you can pay her off in sexual favors.

ENDelt260
06-25-2005, 07:08 PM
that's too bad.
Not really.

eazyb81
06-25-2005, 07:10 PM
Not really.

well that's nice.

Jenson71
06-25-2005, 07:11 PM
Ask if you can pay her off in sexual favors.

She said my sexual favors were worth much less than $17. :(

Phobia
06-25-2005, 07:13 PM
She said my sexual favors were worth much less than $17. :(

Do you have a jar of peanut butter and a canine?

Jenson71
06-25-2005, 07:20 PM
Do you have a jar of peanut butter and a canine?

The neighbors do.

DTLB58
06-25-2005, 07:24 PM
I said you should SEE a financial advisor, not read a book that a financial advisor wrote. Everyone's situation is different, there just isn't a general formula that works for every particular situation.

That's nice that you are smart with your money now, but being over $13,000 in debt (i'm assuming CC debt) leads me to believe that you were bad with money at some point. But congrats, whatever works for you.

I listen to his radio show 3 hours a day 5 days a week (I ff thru the commercials) to learn about money. Between that and the book I haven't felt the need to SEE anyone else. If I have a question I can always call him.... This isn't just about getting out of debt, Dave knows more about Mutual funds than a lot of people and is a regular guest on the CBS Morning show and CNN business shows.

I just think everyone thinks this is some fly by night guy with a bad plan. Dave has done financial counseling for 22 years he employs 97 people their offices are in Nashville Tenneessee. Dave's net worth is about $18 million.

No, the $13,000 isn't all CC debt it is a combination of what most americans have as debt. Cars,mortgages,home equity loans,ect.

I know it sounds whacky not to have CC's (since 78% of americans "carry" credit card debt) and to wait to save up for something to buy it instead of charging it. The USA Today reports 70% of Americans live pay check to pay check. But I just decided that the $1,300 a month we were paying out in STUFF like CC,car payments,ect would be much better served in my pocket and or so I could invest more into my retirement. But to first do that you have to free up all your payments first, hence becoming debt free.

DTLB58
06-25-2005, 07:26 PM
Maybe you should treat me to Beck's in CF now that you're so rich.

I never said I was "rich". I am at step 2 of a 7 step plan.

ENDelt260
06-25-2005, 07:27 PM
No, the $13,000 isn't all CC debt it is a combination of what most americans have as debt. Cars,mortgages,home equity loans,ect.

You owed less than $13,000 on your mortgage?

Jenson71
06-25-2005, 07:29 PM
I never said I was "rich". I am at step 2 of a 7 step plan.

I know, I'm just kidding. Well, about the rich part. I want a Beck's cheeseburger, man.

Jenson71
06-25-2005, 07:31 PM
You owed less than $13,000 on your mortgage?

Oh God, where did you find that sig....

ENDelt260
06-25-2005, 07:32 PM
Oh God, where did you find that sig....
I just stumbled upon it a minute ago. I thought it was hilarious as it references one of my more popular threads.

eazyb81
06-25-2005, 07:33 PM
I listen to his radio show 3 hours a day 5 days a week (I ff thru the commercials) to learn about money. Between that and the book I haven't felt the need to SEE anyone else. If I have a question I can always call him.... This isn't just about getting out of debt, Dave knows more about Mutual funds than a lot of people and is a regular guest on the CBS Morning show and CNN business shows.

I just think everyone thinks this is some fly by night guy with a bad plan. Dave has done financial counseling for 22 years he employs 97 people their offices are in Nashville Tenneessee. Dave's net worth is about $18 million.

No, the $13,000 isn't all CC debt it is a combination of what most americans have as debt. Cars,mortgages,home equity loans,ect.

I know it sounds whacky not to have CC's (since 78% of americans "carry" credit card debt) and to wait to save up for something to buy it instead of charging it. The USA Today reports 70% of Americans live pay check to pay check. But I just decided that the $1,300 a month we were paying out in STUFF like CC,car payments,ect would be much better served in my pocket and or so I could invest more into my retirement. But to first do that you have to free up all your payments first, hence becoming debt free.

Congrats, I am happy for you that you were able to get your financial situation on the right track. I am in the financial industry and I normally wouldn't recommend something like this for most people, but it seems like it has worked well for you.

Jenson71
06-25-2005, 07:34 PM
I just stumbled upon it a minute ago. I thought it was hilarious as it references one of my more popular threads.

I doubt anyone could forget that thread...

ENDelt260
06-25-2005, 07:35 PM
I doubt anyone could forget that thread...
I wasn't sure if you were around for that or not. I don't recall how long ago it was.

Jenson71
06-25-2005, 07:39 PM
I wasn't sure if you were around for that or not. I don't recall how long ago it was.

I think I was the first post..."That's despicable" ROFL

WilliamTheIrish
06-25-2005, 07:49 PM
In other news, Ron Popeil wants to send you some free julien fries.

Brutal.... absolutely Bru-f*cking-tal.

And the funniest thing I've read in weeks. ROFL ROFL

Jenson71
06-25-2005, 07:54 PM
http://www.chiefsplanet.com/BB/showthread.php?t=75749

Dang, I was the 2nd post.

carlos3652
06-25-2005, 07:57 PM
Do you have a jar of peanut butter and a canine?

He bite my Vagina... small teeth, they pinch.... he has a veesectomee... he make love like we do...

The Rick
06-28-2005, 02:18 PM
I'd heard of Dave Ramsey before, but never really followed up on it. After seeing this thread, I went to the website. I liked what I saw and what I heard, so I ordered the audiobook in iTunes.

I just started listening this morning in the car on the way to work and so far, I like what I hear. He's definitely an "in your face" type person. He actually kind of reminds me of Jim Rome.

Thanks, DTLB58!

Andoverer
06-28-2005, 02:30 PM
I'd heard of Dave Ramsey before, but never really followed up on it. After seeing this thread, I went to the website. I liked what I saw and what I heard, so I ordered the audiobook in iTunes.

I just started listening this morning in the car on the way to work and so far, I like what I hear. He's definitely an "in your face" type person. He actually kind of reminds me of Jim Rome.

Thanks, DTLB58!

I found his show surfing radio channels in January and got hooked immediately. My wife started listening to him as well and we are now changing our old bad habits to new good ones. My parents are on board too.
Yes I am a fan of his. Don't be too quick to dismiss what he teaches.
The man is good!

Ultra Peanut
06-28-2005, 02:37 PM
I just started listening this morning in the car on the way to work and so far, I like what I hear. He's definitely an "in your face" type person. He actually kind of reminds me of Jim Rome.Rack ‘em. Another. Quality call from Willie. In KC. Heh. You know, clones. I sit in the mirror every morning and just about cry because of this image that I portray. I think to myself, “Wow, Jim. If I could have just made it into the industry as my own person and not this shitty gimmick then I really could’ve had inner peace.” Heh. That is great. Could you imagine? Wow. Phenomenal. At the bottom of the hour I will announce who gets the 980th tour stop. It stopped being prestigious and lost all credibility a long time ago when we started giving the ducats out for free. I haven’t mentioned his name in this hour so I’ll go ahead and say it. Kareem Abdul-Jablunt. Heh. That’s great. Oh. Looks like the clones busted out on the e-mails.

Dear Jim,

Do you need a drivers ed teacher?

Sincerely,
Bobby Hurley

That has to be our HUGE e-mail of the day. Quality. Wow. I like to krinkle up pieces of paper and throw them around and act as though they were real letters but they’re e-mails so it really doesn’t make any sense but this is radio and my whole life is a big lie. Bang your monkey.

DTLB58
06-28-2005, 02:56 PM
I'd heard of Dave Ramsey before, but never really followed up on it. After seeing this thread, I went to the website. I liked what I saw and what I heard, so I ordered the audiobook in iTunes.

I just started listening this morning in the car on the way to work and so far, I like what I hear. He's definitely an "in your face" type person. He actually kind of reminds me of Jim Rome.

Thanks, DTLB58!

Your welcome! I knew there had to be someone else out here who agreed with me!

The reason most everyone here thinks Dave's way is just crazy is because his way (debt free) is NOT normal. Advertiser's for banks and CC compannies spend sooo much time and money trying to convince us that debt and lot's of it are the only way to live that almost everyone buys into it without a second thought. I admit it is VERY hard when you see something you want whether it be a large or small purchace to not buy it when you know all you have to do is throw down the plastic. But that's what children do, is do what feels good in the moment. Adults are supposed to make a responsible mature decsion whether they can afford it or not.

Dave's way takes an extrodinary amount of patientce and discipline but the rewards are phenomonal. I think for the most part to get people on board with this plan you will have to have hit rock bottom or very close financially to understand how I feel and NEVER EVER want to return to CC's and any kind of loans again.

Remember, The borrower is slave to the lender.

Ari Chi3fs
06-28-2005, 03:01 PM
Rack ‘em. Another. Quality call from Willie. In KC. Heh. You know, clones. I sit in the mirror every morning and just about cry because of this image that I portray. I think to myself, “Wow, Jim. If I could have just made it into the industry as my own person and not this shitty gimmick then I really could’ve had inner peace.” Heh. That is great. Could you imagine? Wow. Phenomenal. At the bottom of the hour I will announce who gets the 980th tour stop. It stopped being prestigious and lost all credibility a long time ago when we started giving the ducats out for free. I haven’t mentioned his name in this hour so I’ll go ahead and say it. Kareem Abdul-Jablunt. Heh. That’s great. Oh. Looks like the clones busted out on the e-mails.

Dear Jim,

Do you need a drivers ed teacher?

Sincerely,
Bobby Hurley

That has to be our HUGE e-mail of the day. Quality. Wow. I like to krinkle up pieces of paper and throw them around and act as though they were real letters but they’re e-mails so it really doesn’t make any sense but this is radio and my whole life is a big lie. Bang your monkey.

heh. Quality. Wow.

DTLB58
06-28-2005, 03:04 PM
I found his show surfing radio channels in January and got hooked immediately. My wife started listening to him as well and we are now changing our old bad habits to new good ones. My parents are on board too.
Yes I am a fan of his. Don't be too quick to dismiss what he teaches.
The man is good!

It took me about a month to get my wife on board but now that she is, it is paying great rewards. Every time she started talking about money or wanting this or that my only answer was READ THE BOOK! Once she read the book she was 100% with me on it.

He said last week on his show that people who call up on Fridays to announce that they are debt free have paid off over $11 million in debt just this year and this is just the people that have been able to get thru live on the radio.

beavis
06-28-2005, 03:36 PM
It took me about a month to get my wife on board but now that she is, it is paying great rewards. Every time she started talking about money or wanting this or that my only answer was READ THE BOOK! Once she read the book she was 100% with me on it.

He said last week on his show that people who call up on Fridays to announce that they are debt free have paid off over $11 million in debt just this year and this is just the people that have been able to get thru live on the radio.
I've never heard his show, but I picked up his book on a recommendation. It's good advice, but a lot of it is common sense. If you aren't spending $500 a month on a car payment, you can put it in the bank. I for one just can't stand being in any kind of debt, so it's a huge weight off my shoulders to be as liquid as possible. The one thing it did do for me is change my attitude about stuff I could "afford". I could afford to go out, take out a $30k loan on a new car, but do I really need too? It didn't really dawn on me until I sat down and figured out how much money I had blown in interest on loans in just the past couple of years. Unbelievable.

DTLB58
06-28-2005, 03:49 PM
I've never heard his show, but I picked up his book on a recommendation. It's good advice, but a lot of it is common sense. If you aren't spending $500 a month on a car payment, you can put it in the bank. I for one just can't stand being in any kind of debt, so it's a huge weight off my shoulders to be as liquid as possible. The one thing it did do for me is change my attitude about stuff I could "afford". I could afford to go out, take out a $30k loan on a new car, but do I really need too? It didn't really dawn on me until I sat down and figured out how much money I had blown in interest on loans in just the past couple of years. Unbelievable.

Your right and as Dave says often a LOT of it is just common sense.

Personal finance is 80% behavior. We all know what is the right thing to do getting ourselves to do that is thing since the Wall Street Journal and USA TODAY did studies to show that 70% of Americans live pay check to pay check.

Every time I make a payment now I always look at how much intrest I just paid over the last month and it drives me crazy now. Good incentive to get all this stuff paid off.

Ultra Peanut
06-28-2005, 04:26 PM
heh. Quality. Wow.
http://niggaslike.us/rome-nba.html

eazyb81
06-28-2005, 05:04 PM
I've never heard his show, but I picked up his book on a recommendation. It's good advice, but a lot of it is common sense. If you aren't spending $500 a month on a car payment, you can put it in the bank. I for one just can't stand being in any kind of debt, so it's a huge weight off my shoulders to be as liquid as possible. The one thing it did do for me is change my attitude about stuff I could "afford". I could afford to go out, take out a $30k loan on a new car, but do I really need too? It didn't really dawn on me until I sat down and figured out how much money I had blown in interest on loans in just the past couple of years. Unbelievable.

I agree, I wasn't trying to act like Dave Ramsey is an idiot, but all of his ideas are just common sense. He isn't bringing up anything new, he is giving the same advice as any other financial advisor.

- Don't spend money on items you can't afford
- Live within your means
- If you have discretionary income, save it

These are basic principles that the financial industry already stands by. You would get the same advice if you went to your nearest financial advisor for a free consultation.

ENDelt260
06-28-2005, 08:46 PM
Dave's way takes an extrodinary amount of patientce and discipline but the rewards are phenomonal. I think for the most part to get people on board with this plan you will have to have hit rock bottom or very close financially to understand how I feel and NEVER EVER want to return to CC's and any kind of loans again.

Remember, The borrower is slave to the lender.

*Any* kind of loan? There's a lot of difference between cc debt and a mortgage. You gotta live *someplace*... why piss away money on rent and get nothing back when I could spend the same amount on a mortgage pmt every month, build equity, and have a tax writeoff? Unless, of course, you're advocating living on the street or in your mom's basement until you've saved up enough cash to buy a house outright.

Terribilis
06-28-2005, 10:25 PM
This thread is really starting to disturb me-
it sounds like some sort of cult...
when is Hale-Bop due for a reappearance?!

Andoverer
06-29-2005, 06:11 AM
This thread is really starting to disturb me-
it sounds like some sort of cult...
when is Hale-Bop due for a reappearance?!

No there's no cult thing going on there. If there was I'd be the first to throw out a big red flag. It's just that many of us who have heard and read Dave Ramsey's stuff have had this light go on in our brain that's telling us "Crap!
I've been managing my money all wrong!"
Have you ever received great insightful information and wished like crazy you'd heard about this stuff years ago? Yeah it's like that.

beavis
06-29-2005, 09:20 AM
*Any* kind of loan? There's a lot of difference between cc debt and a mortgage. You gotta live *someplace*... why piss away money on rent and get nothing back when I could spend the same amount on a mortgage pmt every month, build equity, and have a tax writeoff? Unless, of course, you're advocating living on the street or in your mom's basement until you've saved up enough cash to buy a house outright.
He alludes to a mortgage being the only "reasonable" kind of debt. It's been a while since I've read it, but I think he also points out the misnomer of the mortgage interest write off. Spending $10k to save $3k doesn't make a lot of sense.

jspchief
06-29-2005, 09:38 AM
He alludes to a mortgage being the only "reasonable" kind of debt. It's been a while since I've read it, but I think he also points out the misnomer of the mortgage interest write off. Spending $10k to save $3k doesn't make a lot of sense.What "misnomer" are you referring to? The only thing I can think of is that a mortgage should be the last debt you pay off, since the interest is deductible, unlike all your other debts (barring exclusions like student loans).

beavis
06-29-2005, 09:47 AM
What "misnomer" are you referring to? The only thing I can think of is that a mortgage should be the last debt you pay off, since the interest is deductible, unlike all your other debts (barring exclusions like student loans).
The one I stated above. The idea that paying x amount of dollars in mortgage interest to save x amount of dollars in taxes is some kind of great deal.

ENDelt260
06-29-2005, 10:04 AM
The one I stated above. The idea that paying x amount of dollars in mortgage interest to save x amount of dollars in taxes is some kind of great deal.
It's infinitely more than I could write off of rent.

The tax thing is just a mildly nice side benefit. The real nice thing about my situation is that if I were to find myself unemployed for an extended period of time and in need of money, I could sell my home for about $70K more than I owe on it right now w/out too much trouble. Sure beats renting and finding oneself evicted when you can't come up with a rent check. Least if I have to walk away from this place I'll have cash in my pocket.

jspchief
06-29-2005, 10:17 AM
The one I stated above. The idea that paying x amount of dollars in mortgage interest to save x amount of dollars in taxes is some kind of great deal.Oh, I had never heard it was a "great deal". I don't consider paying interest on anything a "great deal". However, given the choice of paying interest that is tax deductible, versus interest that is not, it seems pretty obvious that a mortgage is a better debt to have.

I'm not sure who's giving you that kind of info, but I'd start tuning them out.

Ultra Peanut
06-29-2005, 10:33 AM
O.S.I. Instructor: Well, let's see here, Mr. Samson. On the driving portion, you totalled every car but the one you were driving; on the pistol range, you refused to use a gun. And, uh, oh. Hah! Yeah, here's my favorite: on the written, you drew a little guy with wings from the Led Zeppelin records.

Brock: Icarus. So, uh... what are you trying to tell me here, little man? That you don't like Zep?

beavis
06-29-2005, 10:43 AM
Oh, I had never heard it was a "great deal". I don't consider paying interest on anything a "great deal". However, given the choice of paying interest that is tax deductible, versus interest that is not, it seems pretty obvious that a mortgage is a better debt to have.

I'm not sure who's giving you that kind of info, but I'd start tuning them out.
You are completely taking this the wrong way. I'm not saying that a tax deduction is a bad thing. In fact, if you had read my previous post, you would see where I mention a mortgage being the only good kind of debt. I'm just referring to the idiots that refer to it being some kind of financial windfall. I know my numbers are no where near exact, but if you spend $10k on interest over the course of year, and save $3k on your taxes, you're $7k in the hole. Of course it's better than renting, but it's not necessarily the "advantage" it's made out to be.

OmahaChief
06-29-2005, 11:34 AM
Congrats, I am happy for you that you were able to get your financial situation on the right track. I am in the financial industry and I normally wouldn't recommend something like this for most people, but it seems like it has worked well for you.

You would not reccommend a way to get out of debt and stay debt free. Yes by all means give us your great financial wisdom then. The only reason this plan would not work for everyone is that not everyone is willing to sacrifice the now for the future. I have listened to his show and it is soound financial advise, by the way I am a Certified Financial Planner, so I also have a bit of knowledge on the subject. I see nothing wrong with people using a book to help them formulate a winning strategy for financial freedom, the problem with with most people in the financial world are pushing debt not encouraging paying cash for things or saving a boatload now so you can retire early.

Financial planning is not rocket science. It is exactly like a weight loss program. If you have the balls to stick with the plan no matter how much it hurts NOW you will see great results down the road.

Andoverer
06-29-2005, 11:55 AM
http://www.daveramsey.com/radio/home/index.cfm?FuseAction=dspContent&strMode=dspShowArchives

Listen to him for yourself. Here's the radio shows' archives of the 10 most recent programs.
Anyone who plays Dire Straits, Pink Floyd and Gerry Rafferty on their breaks can't be all bad.

vailpass
06-29-2005, 12:13 PM
It's infinitely more than I could write off of rent.

The tax thing is just a mildly nice side benefit. The real nice thing about my situation is that if I were to find myself unemployed for an extended period of time and in need of money, I could sell my home for about $70K more than I owe on it right now w/out too much trouble. Sure beats renting and finding oneself evicted when you can't come up with a rent check. Least if I have to walk away from this place I'll have cash in my pocket.

When do you think the bubble is going to burst in the AZ real estate market?

Ari Chi3fs
06-29-2005, 12:19 PM
Get a Total SPAM makeover!

DTLB58
06-29-2005, 04:41 PM
*Any* kind of loan? There's a lot of difference between cc debt and a mortgage. You gotta live *someplace*... why piss away money on rent and get nothing back when I could spend the same amount on a mortgage pmt every month, build equity, and have a tax writeoff? Unless, of course, you're advocating living on the street or in your mom's basement until you've saved up enough cash to buy a house outright.

We are going to pay off the mortgage we have and me and the wife are satisfied to stay right where we are.

And to everyone that's sick of this thread or thinks it's spam. STOP reading it then. There's lot's of threads on the planet that don't intrest me but after reading the title or first writing I don't keep going back to it!

DTLB58
06-29-2005, 04:45 PM
He alludes to a mortgage being the only "reasonable" kind of debt. It's been a while since I've read it, but I think he also points out the misnomer of the mortgage interest write off. Spending $10k to save $3k doesn't make a lot of sense.

The mortgage IS the last debt Dave reccomends you pay off it is step 6 of the 7 step plan.

Ari Chi3fs
06-29-2005, 04:50 PM
We are going to pay off the mortgage we have and me and the wife are satisfied to stay right where we are.

And to everyone that's sick of this thread or thinks it's spam. STOP reading it then. There's lot's of threads on the planet that don't intrest me but after reading the title or first writing I don't keep going back to it!

your mom reads spam.

DTLB58
06-29-2005, 04:51 PM
You would not reccommend a way to get out of debt and stay debt free. Yes by all means give us your great financial wisdom then. The only reason this plan would not work for everyone is that not everyone is willing to sacrifice the now for the future. I have listened to his show and it is soound financial advise, by the way I am a Certified Financial Planner, so I also have a bit of knowledge on the subject. I see nothing wrong with people using a book to help them formulate a winning strategy for financial freedom, the problem with with most people in the financial world are pushing debt not encouraging paying cash for things or saving a boatload now so you can retire early.

Financial planning is not rocket science. It is exactly like a weight loss program. If you have the balls to stick with the plan no matter how much it hurts NOW you will see great results down the road.

I couldn't have said it better myself :clap:

This plan WILL work for anyone IF you are willing to make the sacrafices.

jspchief
06-29-2005, 04:52 PM
Okay, we get it.

Do you get a commission for fellating him on BBs?

DTLB58
06-29-2005, 05:07 PM
I agree, I wasn't trying to act like Dave Ramsey is an idiot, but all of his ideas are just common sense. He isn't bringing up anything new, he is giving the same advice as any other financial advisor.

- Don't spend money on items you can't afford
- Live within your means
- If you have discretionary income, save it

These are basic principles that the financial industry already stands by. You would get the same advice if you went to your nearest financial advisor for a free consultation.

Not really, in fact a lot of financial advisors tell you to keep and inherit new debt to build your credit rating. :cuss: Exact opposite of what Dave recommends.

I went to a financial advisor several years ago (in fact I just drove by their offices this afternoon) and the guy there didn't have a clue.

Dave is the first to admit what you said, the ideas are not new and it is a lot of common sense. I think it's just the way he delivers the ideas and how passionate he is about it that gets people to listen to him. Also this is NOT just about getting out of debt but that's the first step so that you can use your money then to save so you can retire with dignity. Also it's important to know the plan isn't meant to eat Mac and cheese or beans and rice for life but just for a short time until your debt free and then you will be much more aware of how you spend your money and then be able to more afford nicer things.

Ari Chi3fs
06-29-2005, 05:40 PM
Not really, blah blah blah, Spam, blah blah blah Dave recommends.

blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah Dave Spamsey's nutsack in my mouth blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah.

Dave is the first to admit what you said, blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah on my knees for Dave Spamsey. blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah I want to have Dave Spamsey love child blah blah blah blah blah blah blah blah blah