Ramsey has been a shitbag for a long time. This is no surprise.
My parents gave me a subscription to his financial university program a number of years ago. Some of the basic concepts are great, like the debt snowball. On the other hand, he places the blame for insufficient income on the people; if you simply can’t cut enough expenses, then you need to earn more money, so get a better job you lazy schmuck. …As if that actually worked for most people. It entirely ignores economic realities, where a large number of people have to lose so that a very few people can win.
The snowball method can be helpful in a psychological sense, but it’s less than ideal from a financial standpoint. (You can pay down debt faster with more conventional methods, IF you stick to them.)
Right, like if I’m remembering terms correctly, avalanche is the way to go, highest interest first.
Dave Ramsey is awful though, doesn’t take much to figure that out.
Ramsey has been a shitbag for a long time. This is no surprise.
My parents gave me a subscription to his financial university program a number of years ago. Some of the basic concepts are great, like the debt snowball. On the other hand, he places the blame for insufficient income on the people; if you simply can’t cut enough expenses, then you need to earn more money, so get a better job you lazy schmuck. …As if that actually worked for most people. It entirely ignores economic realities, where a large number of people have to lose so that a very few people can win.
The snowball method can be helpful in a psychological sense, but it’s less than ideal from a financial standpoint. (You can pay down debt faster with more conventional methods, IF you stick to them.)
Right, like if I’m remembering terms correctly, avalanche is the way to go, highest interest first. Dave Ramsey is awful though, doesn’t take much to figure that out.