Advertisement

Author Topic: Dave Ramsey. Top 10 things to not do with money.  (Read 2500 times)

0 Members and 1 Guest are viewing this topic.

Offline Kong Vang

  • PH Regular
  • **
  • Posts: 234
  • Respect: +6
    • View Profile
Dave Ramsey. Top 10 things to not do with money.
« on: November 04, 2020, 01:40:33 PM »
I have been following this guy for some time... he is the reason I am debt free. I have done all of these things and hope this helps you too.

1. Don’t try to tackle your biggest debt first. Instead start with your smallest debt and once paid off, use that money to tackle the next debt.
2. Don’t try to justify frivolous purchases. “I deserve it cause I worked too hard.” Be sensible on your spending.
3. Don’t buy a new car. Fun fact, a new car depreciates 10% the minute it leaves the sales lot. Buy used.
4. Don’t use credit card for what you can buy with cash. Credit interest will kill you and your budget.
5. Don’t spend when you can invest. Instead of spending your raise, add it to your 401k. It’s new money you will not miss it.
6. Don’t go to a fancy college. A degree is still a degree. I started at a city college then transferred to a state university. This saved me a boat load of cash.
7. Don’t splurge once you graduate. Stick to your budget.
8. Don’t give your kids allowances. Have they work part time so they understand the value of money.
9. Don’t buy an engagement ring from a jewelry store. Jewelry deprecates beyond belief and is cheaper on private sales.
10. Don’t try to get rich quickly. It’s a marathon not a sprint.

Thoughts?



Like this post: 0

Adverstisement

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #1 on: November 04, 2020, 01:53:09 PM »
LOL

dave ramsey is okay.. if you wanna get out of debt
but investor like us, his advice is trash



1.  always pay off the highest interest debt
2.  spoil yourself sometimes
3.  brand new car $20k at 0% interest... yeah i will go for this
     used $15k car at 5% interest...   about $17k
     not alot difference, plus you be stress free from new warranty car
4.  credit card is nice man, i earn $120 this year.  great reward.  you can earn $500 just for    signing up and once you get the reward, quit
6. follow your dream and passion
7. always spoil yourself
 
     



Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #2 on: November 04, 2020, 01:56:34 PM »
ramsey doesn't really help you with investment
he just help you get out of debt

i watch some of his clip on youtube
and all he talk about is just mutual fund

don't tell you the sticker symbol or anything


unlike ROCKBOY here

buy $VTI 
if you just started out investing  and hold forever 



Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #3 on: November 04, 2020, 02:00:06 PM »
dave ramesey
chris hogan and them cat

comes from the same mother

they don't really tell you what to do with your money
when it comes to investing


i listen and follow the late JOHN BOGLE
this old dude tell you what to buy




Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #4 on: November 04, 2020, 02:12:08 PM »
Credit card is good, bro
You can earn alot of reward
They offer lots of freebies like roadside assistance, cellphones protection, price adjustment, etc..

Plus you build your credit history
For those big mortgage/car loan
OTHERWISE YOU GOING NEED ROCKBOY TO COME AND CO-SIGN

HAHAHAHA



Like this post: 0
God did not created man...man created god

Offline one-tai

  • Jr. Poster
  • ***
  • Posts: 1078
  • Respect: +37
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #5 on: November 04, 2020, 03:43:24 PM »
Dave's good to a certain extent. However, we need to tailor the advice of others to fit our need(s). I'm not sure which "baby step" this is but I'm almost mortgage free. I have no car payments but all 4 of my vehicles I purchased brand new. I have to splurge a little because I don't know when I'm going to die and if I were to die tomorrow not ever having experienced driving a brand new car among other things, I would be mad.

I don't believe in college right out of high school. I feel that as a society we over prescribed college only to have, historically speaking 1/3 of Americans with college degrees. Of that 1/3, roughly half are in careers pertaining to one's degree.

Again, like I have mentioned, I'm darn near or at a millionaire status. I think I'm doing pretty damn well for someone my age. I have cash on hand, stocks, real estate, a 401k, life insurance, vehicles, gold/jewelry, firearms (love my firearms), etc.

Given this, there is no reason/excuse a refugee such as myself can do all this and folks such as the Black community, Latino community, etc who complain about "systemic racism/oppression/inequalities" can't!



Like this post: 0

Offline one-tai

  • Jr. Poster
  • ***
  • Posts: 1078
  • Respect: +37
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #6 on: November 04, 2020, 03:50:02 PM »
I appreciate Dave because he's god fearing, gun wielding, and bleeds red aka a conservative! Per one of his latest podcast, some dumb bit.ch called and said, "well I thought when Obama came into office I would lose everything." Dave had to set her straight because presidential elections have very little bearing on the stock market. Now when it comes to firearms, that's a completely different story. Thank goodness I stock piled before what looks to be the Biden regime.  ;D



Like this post: 0

Offline Kong Vang

  • PH Regular
  • **
  • Posts: 234
  • Respect: +6
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #7 on: November 04, 2020, 03:59:39 PM »
7 Baby Steps...

1. 1000 dollars, emergency fund.
2. Pay off all debts, small to largest except mortgage.
3. Fully funded emergency fund. 3-6 months of living expenses.
4. Invest 15% of your income.
5. Save/open College fund for your kids.
6. Pay off your home, mortgage should always be 15 years.
7. Build wealth and be generous with it.



Like this post: 0

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #8 on: November 04, 2020, 04:05:20 PM »
Dave's good to a certain extent. However, we need to tailor the advice of others to fit our need(s). I'm not sure which "baby step" this is but I'm almost mortgage free. I have no car payments but all 4 of my vehicles I purchased brand new. I have to splurge a little because I don't know when I'm going to die and if I were to die tomorrow not ever having experienced driving a brand new car among other things, I would be mad.

I don't believe in college right out of high school. I feel that as a society we over prescribed college only to have, historically speaking 1/3 of Americans with college degrees. Of that 1/3, roughly half are in careers pertaining to one's degree.

Again, like I have mentioned, I'm darn near or at a millionaire status. I think I'm doing pretty damn well for someone my age. I have cash on hand, stocks, real estate, a 401k, life insurance, vehicles, gold/jewelry, firearms (love my firearms), etc.

Given this, there is no reason/excuse a refugee such as myself can do all this and folks such as the Black community, Latino community, etc who complain about "systemic racism/oppression/inequalities" can't!


Damn dude show us some of your firearm
I like guns too, i think wayyy too much 20+ now
Hahaha




Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #9 on: November 04, 2020, 04:08:13 PM »
7 Baby Steps...

1. 1000 dollars, emergency fund.
2. Pay off all debts, small to largest except mortgage.
3. Fully funded emergency fund. 3-6 months of living expenses.
4. Invest 15% of your income.
5. Save/open College fund for your kids.
6. Pay off your home, mortgage should always be 15 years.
7. Build wealth and be generous with it.

$1000 emergency fund???
You sure thats going last you 3-6 months.

At least $5k-10k



Like this post: 0
God did not created man...man created god

Offline Kong Vang

  • PH Regular
  • **
  • Posts: 234
  • Respect: +6
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #10 on: November 04, 2020, 04:15:15 PM »
$1000 emergency fund???
You sure thats going last you 3-6 months.

At least $5k-10k

See step #3



Like this post: 0

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #11 on: November 04, 2020, 05:04:18 PM »
See step #3

Ain’t they the same thing???
Also #5   Why??? What about the individual responsibiliti es you speak off



Like this post: 0
God did not created man...man created god

Offline Kong Vang

  • PH Regular
  • **
  • Posts: 234
  • Respect: +6
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #12 on: November 04, 2020, 05:14:26 PM »
Ain’t they the same thing???
Also #5   Why??? What about the individual responsibiliti es you speak off

Emergency fund vs Fully funded Emergency fund.

College tuition vs Living allowance.



Like this post: 0

Offline one-tai

  • Jr. Poster
  • ***
  • Posts: 1078
  • Respect: +37
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #13 on: November 04, 2020, 05:36:20 PM »

Damn dude show us some of your firearm
I like guns too, i think wayyy too much 20+ now
Hahaha

My everyday carry is a Sig P365 with a TLR-6 laser/light, a Hogue grip, two factory 10 rd magazines, and a 15 rd magazine that I spent 75 dollars on. The overall total, over 700 hundred dollars. My bedside firearm, a Remington model 870 pump action 12 ga. I only bought it for less than 300 bucks but I have a 16 inch tactical barrel on it with a Hogue pistol grip and forearm grip. I also have a 6 rd side saddle holder. I have several other rifles and shotguns but these two are my preferred firearms.



Like this post: 0

Offline hmgROCK

  • Elite Poster
  • *****
  • Posts: 35761
  • The Hmong Nostradamus
  • Respect: +216
    • View Profile
Re: Dave Ramsey. Top 10 things to not do with money.
« Reply #14 on: November 04, 2020, 06:58:22 PM »
My everyday carry is a Sig P365 with a TLR-6 laser/light, a Hogue grip, two factory 10 rd magazines, and a 15 rd magazine that I spent 75 dollars on. The overall total, over 700 hundred dollars. My bedside firearm, a Remington model 870 pump action 12 ga. I only bought it for less than 300 bucks but I have a 16 inch tactical barrel on it with a Hogue pistol grip and forearm grip. I also have a 6 rd side saddle holder. I have several other rifles and shotguns but these two are my preferred firearms.

I love guns
Show us some pictures, man

Go to gun show and stuff
Sometimes you can get cheap gun
Without background check in Wisconsin

I know crazzzzyyy



Like this post: 0
God did not created man...man created god

 

Advertisements