Opinion of Dave Ramsay

[DC Al Fine]

I'd say mostly FF. His investment advice is sh**t (find a mutual fund that outperformed the market), but his anti-debt message is bang on.

[memphis]

I'm a bit of cheapskate, so I like him, or any sober prophet wailing against destructive binge shopping, in theory, but Suze Orman is way better if you can get past her silly "hey girlfriend" schtick. Her book, The Money Class is the best comprehensive financial book available hands down.  Ramsey has some strange ideas, like advising people to pay off their smallest debt first, regardless of interest rate. WTF? You have to take every mathematical advantage possible to get ahead today. It's a very tough uncaring financial world out there. He also brings in the whole Jesus thing, which is not my cup of tea.

[DC Al Fine]

Ramsey has some strange ideas, like advising people to pay off their smallest debt first, regardless of interest rate. WTF? You have to take every mathematical advantage possible to get ahead today.

I've heard him say that he recommends it because it makes it psychologically easier to stay on track paying off debt. Personally I say just suck it up and keep the debt repayments automatic.

[memphis]

Ramsey has some strange ideas, like advising people to pay off their smallest debt first, regardless of interest rate. WTF? You have to take every mathematical advantage possible to get ahead today.

I've heard him say that he recommends it because it makes it psychologically easier to stay on track paying off debt. Personally I say just suck it up and keep the debt repayments automatic.

Whether or not your payments are automatic isn't the issue. If you have more than one revolving debt with interest, like a credit card, car payment, mortgage, etc, you have to decide, how much additional money to send each one after the minimum payment. Mathematically, you only want to pay the minimum to all creditors except the one with the highest rate, and you want to send them every penny you've marked for debt reduction. It's just basic math. He wants people to pay the smallest debt first because they will feel good and stick to the plan once it's paid off. It's not mathematically sound. Unless you just enjoy paying extra money in interest.

[So rightwing that I broke the Political Compass!]

Ramsey has some strange ideas, like advising people to pay off their smallest debt first, regardless of interest rate. WTF? You have to take every mathematical advantage possible to get ahead today.

I've heard him say that he recommends it because it makes it psychologically easier to stay on track paying off debt. Personally I say just suck it up and keep the debt repayments automatic.

Whether or not your payments are automatic isn't the issue. If you have more than one revolving debt with interest, like a credit card, car payment, mortgage, etc, you have to decide, how much additional money to send each one after the minimum payment. Mathematically, you only want to pay the minimum to all creditors except the one with the highest rate, and you want to send them every penny you've marked for debt reduction. It's just basic math. He wants people to pay the smallest debt first because they will feel good and stick to the plan once it's paid off. It's not mathematically sound. Unless you just enjoy paying extra money in interest.

People are not a math formula.

[memphis]

Ramsey has some strange ideas, like advising people to pay off their smallest debt first, regardless of interest rate. WTF? You have to take every mathematical advantage possible to get ahead today.

I've heard him say that he recommends it because it makes it psychologically easier to stay on track paying off debt. Personally I say just suck it up and keep the debt repayments automatic.

Whether or not your payments are automatic isn't the issue. If you have more than one revolving debt with interest, like a credit card, car payment, mortgage, etc, you have to decide, how much additional money to send each one after the minimum payment. Mathematically, you only want to pay the minimum to all creditors except the one with the highest rate, and you want to send them every penny you've marked for debt reduction. It's just basic math. He wants people to pay the smallest debt first because they will feel good and stick to the plan once it's paid off. It's not mathematically sound. Unless you just enjoy paying extra money in interest.

People are not a math formula.

Congrats. In one sentence, you've debunked the entire dismal science of economics.