Dave Ramsey

[DaFace]

Originally Posted by mr. tegu

I’ve sheets understood him to be against debt but I assume that’s just common sense type debt right? Things like don’t go into debt for things like TVs, food, or luxuries? I’m assuming his program understands debt for your house, perhaps a car (though I could see him against that).

He's 100% against car loans. He's not against mortgages but believes you shouldn't consider a mortgage until you're otherwise debt free, have an emergency fund, and can put 20% down.

It's not bad advice in concept, but it's just really difficult for most people.

[Bearcat]

Originally Posted by DaFace

He's 100% against car loans. He's not against mortgages but believes you shouldn't consider a mortgage until you're otherwise debt free, have an emergency fund, and can put 20% down.

It's not bad advice in concept, but it's just really difficult for most people.

One size fits all... like people who say you should never ever ever buy a depreciating asset, but probably have little to back that up in terms of always being the superior strategy.


Hopefully he at least advocates investing your emergency fund money, even if it's just Discover bank (or whatever that's called) or some low-ish interest rate account where you can't lose it all.