Dave Ramsey on new car purchases.

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Dave Ramsey may not be the best example of Bible based financial planning.

I find Crown Financial Ministries, founded by the late Larry Burkett to be rooted in Biblical principles.

It's not for everyone, but I would certainly invite folks to check it out to see what it's all about.

Originally Posted By: Mykl
Originally Posted By: gfh77665
I have not deviated from these same financial principles even up through today. Its Biblical based financial stewardship. I have been blessed beyond all that I ever dreamed of.


I'm not sure how the Bible does or does not make any particular financial plan more or less effective.
 
My observation of his "plan" is: Most people don't follow his advice 100%, but do use enough of his ideas to get their act together. I am sure they learn about proper money management. That is what counts!
 
Some people need Ramsey's charisma to offset the high they get from blowing their charge plate at the mall.
 
Ramsey is a guy who speaks some common sense. No more, no less. In his opinion, which is fine.....

But keep in mind, it takes to two things to succeed: Skill and luck.

I have the skill, just had not had the luck. I/We started off on that right path, doing many of those things. But, I nearly died ten years ago. Also been laid off 6 times since 2000. Both caused major bills. That said....I paid off nearly EVERYTHING on my own, without taking the easy way out. I still have some credit card debt to finish, but I am making progress! Working on major goal: out of my dead end job into a better paying one! We are both good spenders, and still plan to live below our means because we can. We bought an affordable house (fixer upper) so our bills stay somewhat low..it starts with being able to afford what you can do....

I glad to see success stories like Pop's or steve, which are great things. Still to plan push for a good retirement, while taking good care of myself. I'm real here...don't plan to live on an island, I just want to be able to help others until god takes me home....

I'm not normally personal, but I think this paints a better picture of real life......
 
Originally Posted By: eljefino
Some people need Ramsey's charisma to offset the high they get from blowing their charge plate at the mall.



TRue..
 
Originally Posted By: HardbodyLoyalist
Originally Posted By: grampi


I served in the Air Force with a guy who was incredible with money...he and his wife paid cash for everything, including a $125K home! He was the envy of every officer in our work center, and he was only an E-4...to this day, I still don't how he did it...


What did his wife do?

And was either of them a trust-fund baby?




His wife was (and probably still is) an RN, and no, neither of them were trust fund babies...
 
Last edited:
Originally Posted By: CKN
Originally Posted By: andrewg
Not to go off topic too far....but how did Mr. Ramsey's bankruptcy correlate scripturally with his beliefs? I recall something about giving to Caesar what is Ceasar's. It's ok to just say...sorry...I'm not paying you back?

Just another example of why I don't really follow many folks that try to blend business and religious values. It almost always conflicts...with the money side winning out....and excuses in the form of vague scriptural references that fit the need to justify.

Anyway...sorry. Back on topic.


To be fair...years later Dave Ramsey went back to all the creditors he filed bankruptcy with, and paid them in full. He said it was difficult-trying to give a bank money they wrote off years earlier.


Good. Then I give him full credit for that if it's true.
 
Finding an appropriate life partner is key to financial success beyond luck and skill.

My partner of sorts in my early twenties was a real estate agent who thankfully sold me my first home before boom and is the reason where I am now since the equity and 2.5 price increase got me in the market for a decent house. Forced me to drive an old car early on.

Latter my wife now 10 years ago forced us to save 1/3 of salary for next home over 5 years and having over 70% down payment during mortgage fallout year made it easy to finance and purchase cheaply.

Pick the right one!
 
Originally Posted By: rjundi
Finding an appropriate life partner is key to financial success beyond luck and skill.

My partner of sorts in my early twenties was a real estate agent who thankfully sold me my first home before boom and is the reason where I am now since the equity and 2.5 price increase got me in the market for a decent house. Forced me to drive an old car early on.

Latter my wife now 10 years ago forced us to save 1/3 of salary for next home over 5 years and having over 70% down payment during mortgage fallout year made it easy to finance and purchase cheaply.

Pick the right one!


Yeah, this makes a huge difference.

I don't think I could survive with a wife who didn't see finances the same way I did. I'd lose my mind.
 
Originally Posted By: CKN
Originally Posted By: andrewg
Not to go off topic too far....but how did Mr. Ramsey's bankruptcy correlate scripturally with his beliefs? I recall something about giving to Caesar what is Ceasar's. It's ok to just say...sorry...I'm not paying you back?

Just another example of why I don't really follow many folks that try to blend business and religious values. It almost always conflicts...with the money side winning out....and excuses in the form of vague scriptural references that fit the need to justify.

Anyway...sorry. Back on topic.


To be fair...years later Dave Ramsey went back to all the creditors he filed bankruptcy with, and paid them in full. He said it was difficult-trying to give a bank money they wrote off years earlier.

Do you know when he paid back amounts and the details of his payback (in other words what was owed in '88, did he offer to pay back some compounded amount year over year, etc.?). I can't seem to find any details.
 
Originally Posted By: Mykl
Originally Posted By: rjundi
Finding an appropriate life partner is key to financial success beyond luck and skill.

My partner of sorts in my early twenties was a real estate agent who thankfully sold me my first home before boom and is the reason where I am now since the equity and 2.5 price increase got me in the market for a decent house. Forced me to drive an old car early on.

Latter my wife now 10 years ago forced us to save 1/3 of salary for next home over 5 years and having over 70% down payment during mortgage fallout year made it easy to finance and purchase cheaply.

Pick the right one!


Yeah, this makes a huge difference.

I don't think I could survive with a wife who didn't see finances the same way I did. I'd lose my mind.


Yes....this point is a good one. If a person is married to somebody that doesn't have the same financial mindset.....it makes for an extremely rough financial road.

I've been there. I had no trust of her even going to the grocery store. And Christmas? We would be in debt for 6 months of stress. I couldn't stand it. Basically made me miserable much of the time.
 
Originally Posted By: rjundi
"Car payments are a way of signing up for middle class and staying there...."

I have to agree with that one statement of his. My parents gave me an incredible role model with vehicles/finances as they have only owned 3 cars outright my entire life and their home bought cash.


I disagree mate. If any has to work to make ends meet then they are "middle class".

What was the entire point of this topic? Ruffle feathers?
 
34 y/o without a single car payment yet (unless you count paying back my mom the $950 for my first car - seems most are 'gifted' their first one)

Pay yourself first. Spend the rest. I don't have much to spend after setting aside the max for a Roth and also maxing my 457b, so new cars aren't in the picture. Early retirement is, though.
 
Originally Posted By: 99Saturn
Originally Posted By: CKN
Originally Posted By: andrewg
Not to go off topic too far....but how did Mr. Ramsey's bankruptcy correlate scripturally with his beliefs? I recall something about giving to Caesar what is Ceasar's. It's ok to just say...sorry...I'm not paying you back?

Just another example of why I don't really follow many folks that try to blend business and religious values. It almost always conflicts...with the money side winning out....and excuses in the form of vague scriptural references that fit the need to justify.

Anyway...sorry. Back on topic.


To be fair...years later Dave Ramsey went back to all the creditors he filed bankruptcy with, and paid them in full. He said it was difficult-trying to give a bank money they wrote off years earlier.

Do you know when he paid back amounts and the details of his payback (in other words what was owed in '88, did he offer to pay back some compounded amount year over year, etc.?). I can't seem to find any details.


It's a story he has told many times about going back and paying his creditors. But he hasn't said if he paid them just the balance that was in bankruptcy, or the monies with interest. I don't know.
 
I think those who "paid cash" for their house need to ask themselves the question;With what my house is worth today could I still pay cash for it?
 
Originally Posted By: surfstar
34 y/o without a single car payment yet (unless you count paying back my mom the $950 for my first car - seems most are 'gifted' their first one)

Pay yourself first. Spend the rest. I don't have much to spend after setting aside the max for a Roth and also maxing my 457b, so new cars aren't in the picture. Early retirement is, though.


You always max out retirement contributions first, then you budget the rest of your money. I max out my 401K, voluntary pension and Roth IRA every year, I also get a company pension.

Some people max the credit limits on houses, cars and [censored] they can't afford pretending to be successful.
 
cheers3.gif


Priorities.
 
Originally Posted By: CKN
Originally Posted By: 99Saturn
Originally Posted By: CKN
Originally Posted By: andrewg
Not to go off topic too far....but how did Mr. Ramsey's bankruptcy correlate scripturally with his beliefs? I recall something about giving to Caesar what is Ceasar's. It's ok to just say...sorry...I'm not paying you back?

Just another example of why I don't really follow many folks that try to blend business and religious values. It almost always conflicts...with the money side winning out....and excuses in the form of vague scriptural references that fit the need to justify.

Anyway...sorry. Back on topic.


To be fair...years later Dave Ramsey went back to all the creditors he filed bankruptcy with, and paid them in full. He said it was difficult-trying to give a bank money they wrote off years earlier.

Do you know when he paid back amounts and the details of his payback (in other words what was owed in '88, did he offer to pay back some compounded amount year over year, etc.?). I can't seem to find any details.


It's a story he has told many times about going back and paying his creditors. But he hasn't said if he paid them just the balance that was in bankruptcy, or the monies with interest. I don't know.

Thank you.
 
Sometimes lately I've been wishing I had maxed out my 401k etc; but eh, I've lived a bit of life and done stuff I wanted to, and got quite a bit of it out of my blood. Nice car, home ownership, marriage, kids, travel, etc. Now I won't be wondering about what I'm missing out on; maybe in a few years I'll get my 401k etc contributions up to the max. And then pursue those "nicer" things in life again.

But unless if the rich have figured out how to take it with them when they go I'll be content to have lived a little in the now. Tomorrow might not come, and 59.5 is still a long ways away. And I never envisioned myself ever retiring anyhow (not until after I got a house and learned about all the things I could be doing/fixing/improving!).

[In my defense I got out of college during the dot com bubble burst, and things were slow; I sat through a couple of recessions after that. They don't teach about retirement in college, and I had zero trust in the markets. Foolish in hindsight.]
 
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