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8:26 am
June 28, 2013
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frugaling
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Just finished writing a little article about why I think Dave Ramsey's cash only advice won't matter, work, or exist by the time Millennials are in their worst spending troubles.
Would love your feedback: Why Dave Ramsey’s Advice Won’t Work With Millennials
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7:44 pm
June 28, 2013
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Edward Antrobus
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I'm glad to see that I'm not the only one who disagrees with Ramsey on some issues!
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I'm looking for editors, beta-readers, and some demographic research for my upcoming novel, Once Upon a Saturn Moon. If you like reading soft sci-fi thrillers, maybe with a touch of romance thrown in, you can find more information at http://seampublishing.com/once…..aturn-moon
If You Can Read, You Can Cook – http://www.ifyoucanread.com | Think you can't cook? If you can read this sentence, then you can.
SEAM Publishing – http://www.seampublishing.com | eBook formatting and publishing service
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7:49 am
July 2, 2013
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josht
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Ya, Ramsey is getting outdated. But he's rich and getting old, and his advice doesn't adapt with time.
http://www.becomingyourownbank.com
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11:07 pm
August 22, 2013
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WomanWithAPlan
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Just added a comment to your post. Dave is the reason why I'm on this forum today (read why here).
I still listen to his show, but I do notice where what he says just doesn't resonate with me (constantly promoting for moms to stay home at the expense of longer-term goals… never hear him say the same to dads).
I'm actually interested in his new Legacy class, but haven't had time to investigate it further to see if it would add value to my current set of knowledge.
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6:41 am
August 29, 2013
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brian_debtdiscipline
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| Member | posts 113 |
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Post edited 8:11 am – August 29, 2013 by brian_debtdiscipline
I think Dave's general concepts still hold up. Budget, live within your means, use cash, etc How do these not work for Millennials?
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8:52 pm
August 29, 2013
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Edward Antrobus
| | Fort Collins, CO | |
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brian_debtdiscipline said:
I think Dave's general concepts still hold up. Budget, live within your means, use cash, etc How do these not work for Millennials?
The cash part. While I am fairly disciplined with my debit card, cash just burns a hole in my pocket. I only use it if somebody has paid me with it. Otherwise, my money is all electronic. A lot of millennials feel the same way.
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I'm looking for editors, beta-readers, and some demographic research for my upcoming novel, Once Upon a Saturn Moon. If you like reading soft sci-fi thrillers, maybe with a touch of romance thrown in, you can find more information at http://seampublishing.com/once…..aturn-moon
If You Can Read, You Can Cook – http://www.ifyoucanread.com | Think you can't cook? If you can read this sentence, then you can.
SEAM Publishing – http://www.seampublishing.com | eBook formatting and publishing service
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3:06 pm
August 31, 2013
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brian_debtdiscipline
| | NY | |
| Member | posts 113 |
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Edward Antrobus said:
brian_debtdiscipline said:
I think Dave's general concepts still hold up. Budget, live within your means, use cash, etc How do these not work for Millennials?
The cash part. While I am fairly disciplined with my debit card, cash just burns a hole in my pocket. I only use it if somebody has paid me with it. Otherwise, my money is all electronic. A lot of millennials feel the same way.
When I say cash I also mean debit card, as long as you have it in the bank.
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7:53 pm
September 2, 2013
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Micro
| | Georgia | |
| Member | posts 12 |
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I definitely agree with your thought that using cash envelopes just isn't going to resonate. I suppose a similar method would be to use pre-paid cards but there isn't any way to find one that won't nick you with fees.
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3:16 pm
September 27, 2013
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kmaroni
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I'm not sure. I don't like some of Ramsey's info (I particularly agree about his overly traditional views of women staying home as a given) but my husband and I are definitely millennials and we were disciplined enough to use the cash envelope system for a while when we wanted to get used to how our budget 'felt' that first year.
We don't swear by it or still use it but it was helpful and a good visual in a card-centered world. I used to think cash would be too easy to spend because it doesn't show up on my mint account but there is something to be said for the lesson you learn when you have an empty envelope half way through the month when you're still needing another week's worth of groceries.
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3:54 pm
September 30, 2013
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Eve of Reduction
| | Buffalo, NY | |
| Member | posts 46 |
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I agree on the cash thing. I personally feel I'm responsible enough to use a credit card. Here's the bigger thing. At the end of the month I can look over my statement and see where I may have spent too much. It's a great paper trail of spending! When you use cash, it's easier to forget where it went.
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Cristin Frank
Founder of Eve of Reduction - Where Reducers are Producers - Reduction Rebels, let's save money by being clever, resourceful and creative. Before we open our wallets, we open our minds.
Author of Living Simple, Free & Happy: How to Simplify, Declutter Your Home, and Reduce Stress, Debt & Waste
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Twitter: @cristinfrank
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6:38 pm
October 6, 2013
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bryce
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I think Save Ramsey's advice will work for most of his audience. He does recommend cash-only, rather than credit cards, but he does not rule out debit cards.
His investment advice is terrible, however. He tells people to contact someone in his network of investment advisers. He also says that 12% annual return is realistic to expect with long term growth mutual funds. The few times that he has recommended specific funds, they have proven to have loads and/or very high expenses. There is no way people will get anywhere near 12% return following his advice.
His advice will help people who are in debt that have not figured out how to spend less than they earn. Just do not listen to his investing advice.
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6:35 pm
October 8, 2013
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kmaroni
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I think that Dave Ramsey is getting a bit outdated. Even though I got my first financial advice from him (I'm a millennial) I've since realized that I needed his shock factor to get my finances in order but I don't look to him for ongoing advice. He is especially weak in his investing advice and I think he gives people false hope in his 12% guaranteed return. That can be reached at times but not expected in the long term.
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2:18 am
September 26, 2014
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James Martin
| | townsville,qld | |
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WomanWithAPlan said:
Just added a comment to your post. Dave is the reason why I'm on this forum today (read why here).
I still listen to his show, but I do notice where what he says just doesn't resonate with me (constantly promoting for moms to stay home at the expense of longer-term goals… never hear him say the same to dads).
I'm actually interested in his new Legacy class, but haven't had time to investigate it further to see if it would add value to my current set of knowledge.
Dave is pretty much a credit card absolutist – cut ‘em up and get rid of ‘em.
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1:53 pm
November 16, 2014
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James@StartingNegative
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Good points all around, especially as we move to a cashless society.
I think his advice will improve most people's financial situation, but it definitely won't optimize it. At the very least, it gives a template to contrast against as he moves further behind the times.
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