So, we all know Dave Ramsey as the financial genius who created baby steps and for his guidance. The guy who creates great ideas to help others through their financial situation. Though what do you think of him? Do you like all of his financial advice or do you think it is kinda overrated? With all of this debate about Dave Ramsey and his financial views, why not dive into 10 positive and negative things and see what all the fuss is about.
1. Positive: Dave Ramsey Cares For You
Dave Ramsey has a talk show called “The Ramsey Show” for those who don’t know. There he gives financial advice, helps callers out, and discusses baby steps. Many people appreciate his act of kindness by listening in on people’s situations and giving them the best guidance he could offer. Such as in one video called, “I’m 62,000 In Debt” where he helps out a caller. He shares his distress about struggling financially with his credit/business card loans and divorce. With two of the stores open and fewer customers over time, it has become hard to keep up with everything and needs advice.
Dave Ramsey with his word of wisdom shared great points about the business side and how to recover back from the loss. The caller appreciated every word that Dave Ramsey had to say. Now he plans on trying to implement it into his life and see what he can do. It is one of the many positive things on how much he shows he cares for everyone and wants the best for them.
2. Negative: He Isn’t Meant For Everyone
As we all know, Dave Ramsey is known for being strict with following his rules and what he has created. Such as the Dave Ramsey baby steps. The baby steps are meant to help you reach financial stability and wealth if you follow them step by step. Dave Ramsey creates these baby steps from his personal experience and questions that were asked multiple times about becoming wealthy. Yes, it is true many people right now are working on their baby steps. Though, others find a hard time doing it because of their different lifestyle.
Dave Ramsey doesn’t take into consideration everyone’s lifestyle situation. So, the baby steps may not always work for everyone. Which can be a downer for those who want to build their wealth but can’t due to their situation. For instance, if a low-class family with multiple children wants to consider trying out the baby steps, it will be way harder for them. It will be more challenging to try and get through the steps financially and will be stuck in the same loop trying to take care of their family. Therefore, the baby steps aren’t meant for everyone to use and can apply other methods.
3. Positive: Dave Ramsey On Giving
Something that so many people around the world appreciate about Dave Rasmey is how proactive he is about giving back to the community. Dave Ramsey is known for preaching how giving back is “the antidote for selfishness”. He has touched many people’s hearts over the years. As he continuously takes about the value of giving and why you should do it. He shares how giving back is also a valuable lesson to learn because it shows how passionate you are.
At the end of the baby steps, he adds in the step to give back since you have become financially stable. It also gives excitement to those who have finally finished working on their baby steps such as one user from Reddit. With so much excitement, they wanted all of their options to give back and how they can have an effect on someone else’s life. For example, Feeding America, Trees For Future, and Heifer International are all great organizations that you can donate to and make an everlasting difference.
4. Negative: Dave Can Be Too Much
Many know that Dave is very passionate about finances and his advice to us. Every time he talks, you can the passion behind his words of wisdom. Though sometimes it can be too much and be a bit harsh for some people to listen to. We forget that not everyone can be motivated in the same way. We all have different methods we prefer to hear. So Dave Ramsey may not be the best person you should listen to if you can’t handle being yelled at by him.
He is not afraid to say anything and call out anyone who made a dumb decision. Or even call someone “stupid” a lot of times for not agreeing with him and his advice. Just like in the video, “Stupidity is Alive and Well”, where he rants about how people are stupid for making poor choices about being in debt and college loans. It can be a bit harsh the way Dave Ramsey puts it.
5. Positive: Finding a Community
As Dave Ramsey became popular, everyone started to come together and get excited about finances and their goals in life. Since then, Dave Ramsey has created so many communities for everyone to talk all about Dave Ramsey and his advice. Within the community, people found inspiration, motivation, and helping out one another in their financial situation.
For instance, Facebook has a large community of Dave Ramsey groups where people have the same interest in Dave Ramsey and his method. You see people discuss their position in what baby steps they are on, asking for advice, and lifting each other. It can be a great place if you want to connect with others who are just as passionate.
6. Negative: Debt Snowball?
The debt snowball is always the method Dave Ramsey prefers for everyone to use. This sounds like it would make sense because you are paying off your small debts first and it’s motivating. Though that might not always be the case.
Sometimes, it can be better to pay off your high-interest debt first rather than using the snowball method. Or use other methods depending on your financial situation. For example, using the debt avalanche method or the debt savvy method. Using a method like the debt savvy method can be more beneficial for your financial situation. The debt savvy method does is having your extra payments be prioritized by combining both avalanche and the snowball method. This can be something you should also look into besides what Dave Ramsey says about the debt snowball method.
7. Positive: A Motivator
When you hear Dave Ramsey’s story and how he became, you realize how great of a motivator he is. With his experience, he is the guy you would want to listen to for financial advice. One great thing he always likes to add to everything he does is a way to also be motivating at the same time.
If you are working on your baby steps, then you understand the challenge it may take to complete all 7 in a short amount of time. So, when Dave Ramsey was creating the baby steps, he found a way for the baby steps to be motivating at the same time. That is also why he created his podcast call “The Ramsey Show”, where he talks about financial guidance, shares inspirational stories, and hears caller’s situations that he can help. Just like in his documentary called “Never Give Up”, where people commented about how Dave Ramsey is “a hero” and how he has changed their lives. As well, many commenters thanking Dave Ramsey for all he has done and how life-changing he had become in their lives.
8. Negative: Dave Ramsey’s ELPs
Have you ever heard of Dave Ramsey’s ELPs? Well, ELPs are endorsed local providers that Dave Ramsey “highly” recommends. They cover about every field you can think of like insurance or debt elimination. Dave Ramsey says that the ELP’s are the top elite agents and want the best for you and your financial situation.
Though that is not always the case. Many find that Dave Ramsey’s ELPs are not at all what he says they are. Just like how one Reddit user shared his experience and how badly it went. The one user shared how the agent was “okay” and did not know much about Dave Ramsey’s principles. Which is one of the qualifications an ELP must-have. Many more people agree how it isn’t all that great as Dave Ramsey says.
9. Positive: You Can’t Stop Watching
Something that everyone loves about Dave Ramsey is how he captures his audience and people can’t stop watching. Even when I get into his videos from his show, I am sucked right in and I have to continue watching. He can be entertaining with the way he speaks and also the callers situation and what he has to say about his.
One of his most popular videos is called, “Top 10 Unbelievable Calls on The Dave Ramsey Show (vol. 2)”, where he takes callers and listening to their crazy situations and what advice he has to offer them. Listening to those stories sounds impossible but it is 100% true. Not only is it entertaining to watch Dave Ramsey’s response but informative as well.
10. Negative: So Much More Than Cash Envelope
Something that Dave Ramsey continuously preaches is to use cash envelopes! Cash envelopes are where you will store all your cash in certain categories to budget. Which, yes it can be super helpful and organized knowing how much you can use but with technology evolving, there are better solutions to budget. With so many new options to budget, you never have to worry about dealing with cash all the time and losing it.
One of the more popular ways you can budget instead of the cash envelope method that Dave Ramsey talks about is using apps instead. Since you have your phone with you at all times, it is so much more convenient and easier to budget your money. For example, you can use an app called the Savvy App, which is a debt payoff planner and also a place where you can budget. It is secured, easy to use, and has its own Savy Method. With so many new ideas coming out you would think Dave Ramsey would get on the train with everyone else but he seems to stick to what he knows rather than trying something new.