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Dave Ramsey Finance

Hey all,

Do any of you follow Dave Ramsey on youtube and follow his advice? If so what are your thoughts on his strategy? I think it is pretty decent for myself.
I am currently building my emergency fund up to at least 6 months of money.
I've never heard of it but I'll get back to you when I watch his videos! :smile:
I watched him a couple of times and he's good and explaining things. However, do not act like he's a financial advisor as he's just giving advice but not qualified financial advice.
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Avatar for adam271
adam271
21
Original post by ericl3ung
I watched him a couple of times and he's good and explaining things. However, do not act like he's a financial advisor as he's just giving advice but not qualified financial advice.

What is qualifed finanical advice? He gives mainly life lessons in regards to finances so people can learn from other peoples mistakes.


Dave gives sound advice on the basics. It can help you avoid the pitfalls others have done. Chances are though if your watching Dave you are probably already in a Pit.
He does like to talk about God a bit which grates me but apart from that I think he gives good advice.

Key takeaway from him seems to be never waste money on a fancy car. Buy a junker and save your money for a deposit or to pay off your debts. Which I 100% agree with. Most importantly if you can't afford something, do not buy it.
(edited 3 years ago)
Original post by adam271
What is qualifed finanical advice? He gives mainly life lessons in regards to finances so people can learn from other peoples mistakes.


Dave gives sound advice on the basics. It can help you avoid the pitfalls others have done. Chances are though if your watching Dave you are probably already in a Pit.
He does like to talk about God a bit which grates me but apart from that I think he gives good advice.

Key takeaway from him seems to be never waste money on a fancy car. Buy a junker and save your money for a deposit or to pay off your debts. Which I 100% agree with. Most importantly if you can't afford something, do not buy it.

I mean proper advice given from an actual qualified financial advisor but nonetheless, he gives good lessons regarding to bankruptcy and general wealth.
Reply 5
Avatar for Troska
Troska
OP
15
Original post by ericl3ung
I mean proper advice given from an actual qualified financial advisor but nonetheless, he gives good lessons regarding to bankruptcy and general wealth

His guidance has helped thousands of people regardless of him owning a piece of paper
his advice is very US-centric. he suggests that you should not take a mortgage to buy a house, instead you should pay with cash. that might be possible for people in the US (due to higher mean income and lower house prices), but it's a massive stretch in the UK.

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