In todays video I talk about Dave Ramsey plan to pay off of debt. I talk about what I agree and disagree with in his plan.
In this video you should learn information about: Getting out of Debt motivation, get out of debt and stay out of debt, how to get out of debt fast, learn more about my debt payoff journey, my dave ramsey baby steps review.
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In this video I review and share my personal opinion on Dave Ramsey's Debt Payoff Plan! What are your thoughts on this? Do you agree or disagree?
I definitely feel overwhelmed with Dave's plan. To me a baby step shouldn't take YEARS to complete! We have been on step 2 for probably 3 years now and it does not feel peaceful or freeing. I struggle with frugal living and my husband is a little too frugal in my opinion. I just wish for an actual baby step that is small and reachable. Something like in 6 months have X done or try 6 months of not doing X financially.
I have looked at his steps, and I agree with you on alot. I like the how to and explainations to it. Thats how I learn and I think its easier that way, too. Love the video and your advice.
We have been in Baby Step 2 for years and just had an expensive car repair. We had to borrow the money to fix our car and that was a very hard decision to make vs getting a newer more reliable vehicle. Thankfully we were able to get a low interest loan from the bank to put into our debt snowball. The large amounts like the cars and student loans are really long and hard to stay motivated. We are thankful for our desire to become debt free but have also realized that there is no one way that works for everyone.
I’m not a Dave Ramsey fan; he talks down to people who call him for help, humiliates people on air.. I refuse to listen to him!
I agree that Dave Ramsey has good points in the 7 baby steps. Although I haven't done FPU, the how to's are a bit to desire. There are a few things that I personally have a hard time grasping (and that's just me) with Dave Ramsey. Lauren Greutman seems a bit more down to earth. I do admire how they both have gotten out of debt and learned from it. I personally feel like Lauren deals and talks about learning from mistakes and dealing with it. (its ok to not be perfect). So glad you made this video.
My three main disagreements: snowball is stupid if you have 17% APR on a credit card or more put that first highest interest rate to lowest, $1000 is not enough if you have no sinking funds, and my biggest is pausing retirement to pay down debt especially when you have employer match. But the steps are a good guide
I have never taken FPU but I have read TMM and I do follow the baby steps, There are gaps like you said and some people need the visual of youtube videos because they learn differently. Step 2 can take YEARS and honestly I don't even remember the other steps because I've been on 2 for 1.5 years now. Love the how to stuff. I struggled with making a budget for a year because I just didn't know what to budge for but fb pages and videos from other people helped. I don't like the every dollar app, I have a budget book maybe I'm just old school like that but it works for me! no matter the exact method I think we are all striving for the same finish line.
I knew you were going to be offering a course at the end of the video. I just don't think you have to bash someone else's to sell yours,Dave’s or anyone else's. Kind of disappointing.
Lord… you clearly haven't seen the new financial peace plan. There's literally a whole blog post and YouTube video on how to do baby step 1. You need to adhere to a budget. Like that's the obvious way to do baby steps 2 and 3.
I agree with Dave Ramsey but you have to tweak it for you. I stopped contributing to my 401k for maybe a year and missed out in the 6 percent match which was a huge mistake. I also understood I would have to seek other advice to learn the how to’s in between the steps. However Lauren you are in business and I know you enjoy helping people so the title of this video caught my attention. I did feel some type of way when I too realized you agreed with Dave but wanted to be there for people in between. Good sales strategy ! I am not mad at you ! You go girl !
I'm finally getting a handle on budgeting and following a budget, but less than 10 years ago I was still trying to figure out how the heck you're supposed to follow a budget when some things fluctuate in cost, like groceries. I read so many blog posts and budgeting books and was just always frustrated. In my twenties I was also really frustrated because so much of the information out there assumes that if you don't have a lot of money it's because you have high consumer debt, and I didn't have any debt except for student loans at the time. I was working in early intervention and had very few money management skills. I could make a zero-based budget no problem, but actually following that budget was not a thing I was able to do.
All of that is to say thank you for being someone who tackles the really practical stuff! And I don't think those seven steps are actually "baby" steps. The baby steps are the things you do to achieve each of those seven objectives.
I’m a Dave Ramsey Flunkie. Kept taking from my emergency fund for NON emergencies. Kept losing all my envelopes. Kept forgetting which bills to pay when.
I love the idea behind Dave Ramsey's baby steps. I have found the same problem as you. There is no how-to! My problem is there nothing here in South Africa, our mortgages work differently, our savings and retirement funds are different. Interest rates are not negotiable as apparently, they are in US. As you said where do I sell stuff to get that first step. The exchange rate makes $1000 is R14000, this is for a lot of people more than they earn in one month.
Haha, I have often told my husband that Dave's baby steps are easy for Dave. He was a millionaire and even after he was broke he was never poor.
Thank you for understanding that some people need to see the "how to".
I prefer listening to Clark Howard his steps have helped me paid alot of my debt down. Dave Ramsey have good information but I believe alot his stuff are outdated.