If 7 years ago Dave Ramsey had called me an idiot, he would have been correct. I was an idiot. For years I wanted to do it my way, I wanted flexibility and a less than strict approach. For 30 years we had flexibility and achieved a ton of debt. Then in March 2018 we sucked up our pride and started doing it his way. His way, by the way is basically common sense. The first thing we did was stop using credit cards cold turkey. We started our Baby Step 1 emergency fund. Baby step 2 started March 15, 2018 ran to Dec. 6, 2022 during which we paid off $136K of debt including our mortgage, For 30 years we did it our way and racked up $136K debt, 56 months doing it Dave Ramsey's way and we paid all that stupid flexibility off. For 2023 we will have put a total of $66,000.00 into our 401Ks and savings account (we have an 8-month emergency fund) and a paid off mortgage and no debt. Baby Step 7, not too bad in my opinion.
He shows a framework of how to get out of debt-and I personally think I WAS an idiot when I was in debt. (Also, when Dave uses that tone, he also owns his own idiocy when he was in heavy debt.) I am a millionaire now, and when I was casual with debt and money, I never thought I would be more than a paycheck-to-paycheck person. He also encourages folks to budget fun-money and generosity, after the debt is paid off. If your ideas were stellar, I don’t think you’d have to herald your message by putting down his. I’ll admit, I haven’t watched your whole video yet-didn’t feel inspired to after your tactic of vilifying his approach. (I will watch it … but won’t another.) Some of us need the raw truth, and aren’t so delicate we have to be coddled. Occasionally, cold water in one’s face is the needed wake-up call to reality. Not judgin’. Just sayin.
dave's message is to have discipline and planning and stick to it... this video's message is just the opposite and i've never met someone that's successful by being lazy
You said it! Dave is for those weak minder folks that tried living well beyond their means. I agree those people need rigid and stringent controls to work thoer way out. What she did say that Dave says but then he runs from is that Dave did file bankruptcy and didn't do the Ramsey method. Sure after he regained his wealth he says he repaid his discharged debt. But he never ever says that dikong bankruptcy helped him. He guilts you into not doing it but to do it the way he says but didn't follow. So I'm not too sure I'd follow him he doesn't even follow him. I can also say I have heard a very big %gphange in his demeanor towards anyone who thinks outside his box. Again, I think he has to stay rigid for the folks that really need it. You know the type. The type that say f it to anyone that was actually giving then good advise while they destroyed their life and now have to hold tight to Dave to survive. Those that have to be coddled by the Dave to it his way. You lfipped off all those telling you to do it differently and you flipped them off. You owe those people apologizes for your lack of humanity. You can take Dave's abuse but not your frie ds or families good and same advice. Kind of like women that fawn for the bad boys and wonder how they got where they are dumped or played or abused, but they lost most of their friends and family trying yo warn them. You mean those raw truth earing people. Listen to yourself. Once you fall n out woth Dave you will be back woth the bad dept boy and refusing the raw truth from Dave.
I don't worship at the alter of everything Dave says, but his psychological approach to treating money is proven and incredibly effective. This woman is offering god awful advice with the clear intention of making other women feel better about being in crippling debt.
So, don't do a budget. Spending is good. Stay in debt. Great plan... I'll stick with the time-tested method. This seems like a collection of TikTok bad financial advice videos all wrapped in one.
Right. This character is so unserious. She wants to get it all without working for it. Just goes by feelings, not cold hard facts and figures. Team Dave all day along.
The number of money experts whose ideas are so good that the only way they can get someone to listen to them is to produce a video on the wrongness of Dave Ramsey is myriad. No one will listen to you fro your ideas? Well, then put Ramsey's name on your UA-cam account. It will boost your views. Then you can say why you disagree with things Ramsey never said (like calling people who call him stupid), and no matter how stupid your idea is, you'll have an audience.
No that's wrong. Dave Ramsey's method is built on discipline while your's is, as you mentioned, with emotions. I know millionaires that became the sort because of Dave's principles. Your principles cost people more money rather than save and make them money all because you did commit due to the discomfort. I'm sticking with Dave because his method does work.
I’ve gone through some of her videos. She’s all over the place. She has a consumer mindset. This is good for Instagram girlies who need Starbucks and overspend at Target. It’s good for people who don’t want to be disciplined and critically think, which is the cohort of Instagram girlies.
totally contradicting herself, couldn't shift her mindset, um you dont know how to use an eraser to erase your number on a sheet of paper?. Dangerous way to live is to be in debt. emotional needs? you realize that those dollar bills have no emotion. My relatives live like this, hoping it will work out. I'll stick with Dave and GOD's word. @@Bigsteve0299
If you actually had a conversation with her you would know that’s not how she works or what she teaches. She is clearly stating that you have figure out what works for you. Ramseys way is not a one all fix all for everyone, obviously he didn’t even take his own advice.
5:45 I don't see this as Dave Ramsey being hypocritical or anything. He openly shares about how and why he went bankrupt. Often, we learn from our mistakes and we teach others not to go down the same path because it can lead to problems or a harder journey. That's how I view that. He does say sometimes bankruptcy is the option and should be a last resort.
Listen, I'm not a Dave Ramsey groupie, and I hold several credit cards (without paying interest on any of them) as well as several low interest auto loans over the years, but the way you put him down as if he's scamming people in order to sell your $500 course raises a lot more red flags with me.
I am not a great fan of Dave Ramsey but he is far ahead of this lady and her ideas. Credit cards are the worst form of debt. Watching the $ in your bank account doesn't help if you forget you have a mortgage or car payment coming up. Lisa's program seems to want you to feel good but not have any real plan or system to save and invest $. What a bunch of hooey she seems to be selling!
She just likes spending money. In one of her other videos she talks a little bit about her second marriage. Apparently the first victim was uncomfortable with her spending, er, I mean he was abusive.
It's a fine safety net though. If a new well needs to be dug or the roof blows off the card is there. The 18% (more like 20%) is the fire under your feet to pay it off! You only pay for the time to make other arrangements. I once used a balance transfer check as a down payment on a truck with 0% for 6 months, then rolled it to another card for 6 more. So far I've never paid interest but if it has value to me I will.
@@antilogism The last 3 new Trucks I bought I saved for and walked in and paid cash. No rolling anything and no watching for interest. The value drops 20% when you drive away, why add salt to the wound?
@@HighCountryRambler What wound money is supposed to be used as a way of buying goods and services. Why not just worry about what one needs to do once a purchase is made rather than worry about the money spent on the item(s)?
@@donaldlyons17 Because the 18% interest is not "spent on the items", it's the cost of not managing a savings fund. Buy the 'item' out of your savings fund, go enjoy the 'item' and not worry about what one needs to do once a purchase is made. In Biden's America the 18% is 22%, 22% to replace a $2500 well pump= $550 you just saved and able to drop back into savings. It's easy to see why it's called the "DEBT SNOWBALL."
I built up 150,000 in low interest credit lines. I sleep better at night. I can purchase property with one of my lines of credit. You only use credit card when you take receipt home and transfer from your bank account to build your credit lines. Credit score is very high. Can get good mortgage rates.
Ok so Dave Ramsey has never called anyone stupid for not doing it his way. In fact he tells people to go ahead and try any way they’d like to. There’s literally nothing more freeing than being in baby step 7. Thanks to Dave’s system I have zero debt and have railed money into assets and investments. Dave even says if you don’t like it once you get there, then go ahead and take on debt and blow all your money 🤷🏻♂️ as far as The 7 baby steps… you can say that you won’t do it, but don’t say that you can’t do it. I highly recommend the book “The Total Money Makeover” by Dave Ramsey. It’s not the only way, but this way will not disappoint. Don’t be a slave to debt.
According to Dave all debt is bad and sell your car to buy a horse. I have 5 mortgages on my rentals @3% and I am making about 12% investing. So why would I ever pay them off early?
@@slambig any landlord can have physical problems with properties, or get stuck with major repairs or deadbeat renters-it happens …besides … whom ever heard Dave say to sell a car to buy a horse? I think Dave knows horses are much more expensive than cars. 😏
Honestly, this is not a wealth-building approach, it's an anti-Ramsey spiel. As soon as you said you don't like crunching numbers, I knew this was a crock. Money, budgets, wealth and asset-building is ALWAYS, ALWAYS, ALWAYS a numbers game. Just because something is uncomfortable doesn't make it bad or wrong. It's comfort that gets people into trouble initially. Pig-headedness is what keeps you seeking alternatives that ultimately continue to prove to be your undoing. This post will probably be deleted by the content owner. Dave is not the know-all-be-all but I'll take his approach over this one any day, every day.
@@thegodblogger3812 While money is a number game it sometimes depends on factors too. For example a $200 credit card debt at 20% is $240 in 12 months but that matters little if I make more than I spend by $300 or $400 a month because I have the $240 each month. Also budgeting can't make more money so it seems like a ineffective way to using time unless absolutely necessary. I don't think exact numbers are that important only close enough numbers matter as long as I tend to have excess. For example I don't even know how much money I have in my bank account but I know I can buy a 15,000 dollar car today, tomorrow, or the next day.
Does a broke person make six figures? Well if they spend mroe than they make then yes they can be a broke person. What a dumb implication that if you make enough money you're not broke. Its this mentality that gets people in trouble. They think they should live what they think is a high income lifestyle, wheter or not they can afford it. Someone makint $50k and saving $10k a year to their 401k is less broke than someone making $100k and spending $110k.
You are broke if you have debt and don’t have the cash on hand to pay the debt in full if it comes due. You always OWE some amount of money and can never NOT PAY. You are essentially a slave. Regardless, what you explained at the start of the video was… budgeting. If you are sending certain amounts to certain accounts, it’s because you assessed where you money was going and where it needs to go, which is budgeting.
That was the one thing she said that I didn't completely disagree with. I use a digital envelope system, but I don't require myself to spend every dollar. If I have some left over after I funded my envelopes, I keep them in that " general" category and use it if something minor comes up. I don't think it's so important to give every single dollar an address, just to make sure that every address has all the dollars it needs.
Staying with the Ramsey way. I DO need to track every dollar! If I have not kept to my budget and payed with credit cards for far too long. Now at the age of 56 I’m paying the price.
I am happy that your situation worked out with lines of credit. However, to tell other people to rely on credit cards in all their low points in life is unethical and idiotic. The reason you needed a line of credit in the first place is because you were "stupid" with money, not budgeting, and spending money like you had a limitless amount. It's when you have no debt and have a savings that you can lax on a budget. But until that point, having a budget is simply having a plan to getting out of debt and building that wealth. It's a plan for success. Which is why every successful business has one, every person who has worked their way out of debt has/has had one, and all common sense tells you, that you have to ration your income in order to make it last until next payday, i.e. a budget. Please keep your sob story and financial advice to yourself.
@@lisachastain credit card debt accruing interest is dumb. Period. I have some zero interest loans and a 2.5% mortgage. Credit card debt at 30% is NEVER going to be a smart decision. If that’s the life you want to live fine. If you get forced into that position that’s fine, it doesn’t mean it is the right finical choice. It’s a poor situation to find yourself in, doesn’t mean it is the correct choice.
@@danielford2369 I don't advocate for high interest debt. Never have I ever said that. And, I'm advocating for financial options. Saying that implies that the only people who are capable are giving financial advice are people with zero debt. But thank you for proving my point. Zero debt does not mean financial expert.
@@lisachastainThose who have no debt are experts compared to those who have debt and a great credit score. Clearly those ppl don't have the money to buy things
@@jonquebyrd3105 Says who...? Ever listened to Graham Stephan? He has plenty of debt yet save 99% of his income. The people who watch Dave Ramsey need daddy to hold their hand because they have zero discipline. Not everyone is immature and reckless.
Sorry, but I disagree with you!! You just didn’t give Dave a good chance. I think you want things your way and don’t fully want to budget. You can’t be Daveish! You have to go full force. I get the budgeting thing now. Do envelopes to separate your money instead of throwing into all one account if that helps. You are accusing Dave of being dangerous. Watch what you speak as you are dangerous with the info you just shared. I’ll take Dave’s record anyday. He has helped me to be debt free and financially set with his gabby steps. Maybe you should revisit it with an open mind. Having open lines of credit is foolish. Dave will teach you how to be financially independent. Best advice I can give is revisit Dave Ramsey plan and really go gazelle intense and you will succeed financially.
I'm convinced some of the calls to Ramsey are fake. I'm not saying the show is making them up, but I think some people are making stuff up. I also think people exaggerate about how much money they make to feel better about themselves. That has nothing to do with the show as I have seen it in real life. I guess it is some sort of defense mechanism.@@slambig
@@slambig If being wise enough to seek council is dumb, then I guess they are all "dumb". The real truth is it takes work to deny "self" and the instant gratification crowd, and work to stick with a plan. That is living like no one else....
You lost me straight off the bat when you allowed credit cards as an option. I'm open-minded enough to believe there are budgeting alternatives (such as saving your paycheck first, then whatever is leftover is what you have to spend, this requires very little budgeting). As much as I don't agree with Dave Ramsey, not using those 30% interest rate credit cards is essential to getting out of debt. If you had enough money to get out of that credit card debt, you had enough money to not get in it. You just decided not to wait an extra month.
Dave Ramsey gets a strong vote from me considering that everything else is trying to get people in debt while Dave Ramsey is trying to get people out of debt. Still, he is a guide, not a mandate. Everybody's situation is different. My mutual fund investments don't get 12% and nobody else I know of does. Withdrawing 08% per year in retirement is likely not safe for most people either. 04% to 05% is more like it.
I appreciate your take. Systems and procedures work best when there are steps with rules to follow, and I think that is what makes Dave's plan so effective and appealing. Spending can be your enemy in the same way eating can be your enemy. Spend too much, you go broke. Eat too much, you become overweight and unhealthy.
Listen to his books. He’s blunt, but people with a 50k income buying a 30k car have set themselves up for a life where they do not have a measly $1,000 of cash on hand to pay for an emergency. He may call a couple people an idiot for being a grown adult not being able to do fifth grade math that call into HIS RADIO SHOW to ask for advice. When you have 3 minutes with a person you get to the point!! He has a Christian centered approach to money. In a world of instant gratification and clickbait his method requires discipline and patience. Also, always broke? The idea is FINANCIAL PEACE. Actually have money vs making others think you have it.
It's not that religion has anything to do with money, but Dave Ramsey is very upfront about getting a lot of his financial planning techniques from the Bible.@@slambig
@@TheKCBeast1 Well truth is acquiring money is the start of everything financial so even if it is not gotten legally or ethically many online seem way more worried about getting their hands on it!!!
Woah. I just stopped the video. Saying you "create your own security using debt" is just straight up wrong advice. That is not your money. If you have a medical bill with $6000 left on it but you pay with a credit card or line of credit. You still owe $6000, but you just moved it to someone else who will ask for more than $6000 back. Having the $6000 in your account is LITERAL security. Take my comment for your engagement stats but I am going to close the video. P.S. Looks like the Dave Ramsey Approach is working for you, by name dropping him 50 times to promote yourself.
Well as long as it works does it matter whose money it was? When I buy a house I get a place to stay using other people's money right at least until I pay it off?
A lot of negative messages here for bashing Dave. I get it, he can be a bit harsh, but sometimes ripping the bandage off is better than sugar coating the problem. What Dave is saying is “If you want to solve the debt and poverty problem, I can show you”. He’s not giving you a menu to choose from because it was your choices that got you where you are, broke! When an alcoholic goes to AA for help, they don’t tell you it’s ok to drink occasionally, it’s none/zero. Same thing with credit and debt. He has a brand and a method for success. Your choice is to do it his way and succeed or roll the dice with someone else’s. I was successful with Dave’s method and would recommend it to anyone. It’s not easy, but changing your life style for the better never is. Good luck to anyone that has the guts to try.
Possibly. But she is using his name, his picture, and what he teaches, for views and all in an effort to get you to buy what she is selling. That is chasing something for sure.
@@valentinocaine2294 Is he clout chasing when he bashing credit card companies and car loans so he can sale his book? Some people are so easily manipulated… Dave Ramsey’s all about making money just like everyone else. He didn’t get rich following the principles he is telling everyone to follow.
@@valentinocaine2294 he is also wrecking people credit score so they have to go through his sponsored real estate company. He has a lawsuit for a sponsored company that was defrauding people…Dave is not this great guy y’all paint him to be.
I think you missed the whole point about Dave's advice. It's you (the consumer) that's the problem. Dave's advice didn't work for you because you didn't change your money habits and you think (feelings) otherwise. I'm giving you a no, and Dave a yes!
Obvious clickbait by putting Ramsey in the title (hey, it got me, so congrats for that). Bottom line, his way has gotten millions out of debt and into wealth, and your way hasn't.
His way is to spend less than they make.... Any process that does that can get people out of debt.... No they got themselves out of debt using Ramsey process but they had to have the cash to get out of debt in the first place.
Sorry but I’m sure budgeting and discipline really helps or works. You can use credit cards as long as you pay your balance in full every time it is due. You learn from your mistakes so if you experienced bankruptcy like Dave Ramsey went through he sure know what he is talking about and how he learned from his mistakes.
I went through Financial Peace University a few years ago and practice 80-90% of what he teaches. The course definitely wasn't promoting a broke mindset, at least not the presenters we had.
I got out of debt the Dave Ramsey way.I am out ofdbt for one year.I save money in a money market and Treasury Securities. I have no mortgage and no debt. I do no other investments. Inevsting in stocks, mutual funds are to much like gambling.
I’m a big fan of Dave’s “get out of debt” structure; other stuff not so much. But if you start with the assumption that money can only be used for two things: spending or saving - then spending is the problem. Debt occurs when you spend future money - money you do not yet produce. Spending less means saving more.
I am sorry, but I think there are some details you are missing. The way I understand it, Dave Ramsey's preaches that investing thought debt means slower grow plus more stress. Seldom you can leverage debt. Banks has stablish rules toward their advantage & people don't always get those points. In my opinion, you should have refinance your home instead of using credit cards, although your could have the liberty of leveraging interest rates with infinite banking scheme. Bottom line, Dave Ramsey makes lots of sense. I am not familiar with your approach, but one thing I know, credit cards hinders your funds from growing.
She would be better off just explaining her method of dealing with finances as her comparisons with DR just aren’t true. If you earn $60,000 a year you shouldn’t buy a $40,000 car. You either buy a cheaper car, or you look to increase your income. If you’re in debt you need to take on jobs , cut expenses etc to get out of debt . Ultimately what DR wants you to do is avoid debt and build wealth. The pain of getting out of debt should be enough to stop you from making the same mistakes again.
You're encouraging people to take on debt via credit cards at 30% interest? Which is legalized loan sharking. There's some excellent advice! Ha! No budget? Really? Sounds like you're making excuses for you own bad, undisciplined behavior and blaming Dave. I'll stick with him.
So uh, did you get out of debt? I agree that Ramsey's advice can be very strict, but you'll be hard pressed to find any financial advisor who thinks that keeping debt around with an interest rate of higher than 6% is a good thing.
No she’s not out of debt. She just said she used credit cards for her kids and marriages failure instead of having an emergency fund she’d rather put it on a credit card.
I have talked with financial planners that will say “Everyone has credit card debt. You will continue to carry a balance. You are not going to stop that. Start investing for retirement.” Those same financial advisors probably have car leases and boat payments. There are fat doctors also. Not all practice what they preach.
The thought that things are "good" and "Bad" is the whole problem with any expert who takes a black and white approach. My call to action is for my clients to start thinking for themselves. Not follow a stringent philosophy that's all or nothing.
I recently watched a Netflix documentary about money. One of the episodes covered Credit Cards and explained what an awful money tool they really are. The only winners are the banks. At the end of the day, you can have any mindset you want. If you are in debt, then that debt is deducted from your net worth. It doesn’t matter what mindset or emotional attachment you have with money, the overall true sign of wealth is being in credit and actually growing your money through investing and buying assets. The rest is smoke blowing.
If she is in her own world she can't use money the same way as others either way. One of my parents doesn't have a job so no matter what she can't have more money than she started off b/c she has no income to get it from.
What is she talking about, math is math. Budgeting is very rigid what the hell. You must budget if you want to get out of debt, you must know where the money goes. She sounds like a princess. She just doesn't have the discipline to follow the Ramsey way
I get what you’re saying by having financial options around you. In theory this makes a lot of sense. Unfortunately, in practice THE MAJORITY of people at least in the US should not be utilizing debt except to buy a house. This is reflected by the stats, of the amount of households that can afford a $1k emergency. Also with how credit card debt has risen in this country over the course of Covid. Also, with the amount of student loans that are lingering out there. There are a few people who can utilize debt instruments effectively, but the majority NEED the Dave Ramsey approach to stop being casual about their debt. Even in Charles Stanley’s book the millionaire next door, millionaires surveyed maintained little to no debt. They paid in cash. Ultimately, it’s up to everyone what they want to do. But most people are better off just operating without debt.
I started watching this video, then i stopped. i though i could get some inside knowledge and reality on how it is to be in a pay off debt journey. But it is not. Some youtuber use that kind of click bait just to get attention and they explain on how they pay their own debt and how difficult it was for them. But at the end they are glad they did it and motivate people to do it to.
Well yeah following any process that tends to work has the ability to allow people to do stuff. The video creator suggest that Ramey plan does not work for her but that does not mean anything about anyone else.
While I don't agree with everything Dave Ramsy says, anytime someone starts talking about credit card debt being ok is just wrong. Credit card debt generally runs between 18%-30%. That is insane. However, I'll just go with the new saying "You do you," since that is what you are going to do anyway. The people telling everyone to invest in cryptocurrency are also incredibly smart.......
Being in debt is like being overweight there's lots of different ways to solve the problem and people pick different solutions. Credit cards are like alcohol if it's managed correctly it's not a problem. Investors are like bankers they both have the expectation of ending up with more money at the end then they started with.
This is a dangerous video, I hope people don't take this financial advice. Create your own security by having lines of credit? Amex...is that you? The zero-based budget doesn't work? That is the daftest thing I have ever heard. If you have alternative financial ideologies that are proven to actually help people in the long run, then write about them and make videos. But this video isn't that, it's just bashing someone else. Frankly, the numbers speak for themselves: number of people Ramsey has helped achieve financial freedom and/or become millionaires...
Since when has Dave called people stupid for not following his plan. Sure when you make 50k a year and buy a 50k car he'll call you stupid and rightfully so. You clearly have not really ever listened to Dave.
well but a good car is a must for many in places where public transportation is not an option. I have heard of many people loosing their jobs due to transportation issues.
@@donaldlyons17and thats how people justify a car loan. You can buy a good car for alot less. I bought a used truck for 15k cash and it does everything I need. Just didn't come with that new car smell.
@@tedeberhard9863 Without new car buyers how would there be any used cars to buy. At some point the older cars were once new ones!!!! Also, there is nothing wrong with a car loan in my experience they work well because they offer a product now in exchange for a higher overall payment. Old cars in my experience also have a upkeep cost so either I get a new car which cost more but should cost less in maintenance or I get an old car that cost less but cost more in maintenance cost... with cars I doubt there is any free lunch.
@@donaldlyons17 lol. Yes I don't think used cars miraculously appear. By a new car when you can afford it with cash. What car loans do is allow someone to buy something they really can't afford. Studies have shown people will spend more when it's done with credit.
@@tedeberhard9863 Well for some people that might be true but for me if allowed to decide what to buy that has never been the case. Money on cards is the same as money in the bank so I already know I can't spend more on the card than what I make in cash so it is never a problem.
Unrelated to the topic, but your two camera setup needs a bit of help. So you are talking directly to the audience - the people - watching not an interviewer. Straight into the camera. Then you switch to camera 2 and we get a 3/4 angle of you talking to camera 1. So basically it’s like you have turned away from your audience and started talking to the wall. You are better off turning and talking directly into camera 2. Now if there is an interviewer having you not looking directly into either camera directly makes sense.
If I followed Dave's advice I would be worth about 1/50th of what I am worth today. He is a victim of his own prior failings which has made him paranoid about debt, and credit cards. His advice is for dummies who can't control themselves.
@@slambig Your response has nothing to do with my comment. I didn’t even mention Dave at all. All I did was call this lady’s advice horrible (which it is)
@@EpicFaCe441 Well it is a disorganized approach to money but it could yield in high credit score(s) and other minor benefits plus if she is outpacing expenses she could win despite not doing any number crunching.
You don’t need a budget if your income is high enough. Same with debt, if you double your income without increasing your lifestyle, you won’t increase your debt. Most Americans can’t increase their income at will though. Dave sets stringent guardrails around your financial life so it can drastically improve.
You always need a budget, no matter your income. Otherwise you could be one of these millionaires who brings in 5 mill a year while spending 10 mill. There are plenty of broke millionaires. They file bankrupt just like W-2 employees.
@@thegodblogger3812 What you talking about even without running the numbers I can guess each money on my monthly expenses. In the past I knew I was spending less than $1,600 a month because I always had money left over each month. Don't need a budget to tell me if something will work all I need to do is buy everything and see what is left over at the end of each month.
5:33 Dave never says to eat "Beans and Rice" for 7 years. You go through Steps 1-3 as quick as possible, "Gazelle Intense and eating beans and rice" for at the most 2 years. Once you are done with Steps 1-3 you can get off gazelle intense and start to enjoy your money. And Dave was not doing his plan when he went bankrupt, that is what caused him to change. I dont think you listened to Dave at all and if you did you didn't learn anything.
One hell of a desperate and tacky way of getting clicks by using Dave Ramsey’s name, including a ridiculous thumbnail. How embarrassing. And to top it off, the worst fantasyland advice ever.
I agree with you @sidnum ! I gave Lisa another listen, and she mentioned Dave's name 15x in about 10 minutes.... I guess Dave lives "rent-free" in Lisa's head.
@@charliemonk3105 With the amount of money he makes vs. what it likely cost him to survive I would 100% say he lives for free..... The ratios are even better than they are for people who live on 50% of their income.
The guy hates bankruptcy, but it's literally biblical. I suffered way too long trying to do it his way, the only thing that worked (and saved my life) was bankruptcy.
This lady sounds like a lot of people I meet at the gym. "I really want and need to lose weight but I still want to eat anything and everything...its not fair." Discipline honey.
I have a money saving mentality it was my exwife and her kids that drained me dry but I have a secret account that helped me out that she never found out
You just made Ramsey more popular with this! Clearly you do not get his approach. Live on beans and rice while paying off debt and building wealth so THEN you can have steak for the rest of your life.! He does not want people to live like broke people but to spend intentionally… wait… I think Rachel Cruze said that? Oopsie… now you are gonna go after her. 🙈 How can you be generous using credit cards? Seriously, I hope you sleep well at night with all those credit card debts. You still have time to change your mind dear.
Well no having loans is not bad the problem comes with servicing the loans. Also any budget will work even if it is not written down...... I suspect the problem with money is that is has to be made in order to be spent. Lastly I agree Dave Ramsey does not work epically when people don't have an income.
Lisa, take this for what it's worth. The tone of your video is very off putting. It's almost like you have a grudge against Dave and that becomes very apparent in the first couple minutes. If you're focus is on alternatives, spend a little more time talking about your method instead of tearing down his. His approach is very rigid and that's the appeal. He helps people who are literally spending themselves into poverty. They don't need empathy or coddling. They need results....like yesterday.
That's all nice but 60% of Americans live paycheck to paycheck. Having a "healthy line of credit" isn't gonna help them out of that. Business debt can absolutely be useful and healthy, but it's a very different concept than personal debt.
Most of Daves theories are sound. But you have to be so bad with money or earnings that you have lost friends and families that have been trying to help you, but you just flipped off. But now you are at rock bottom and burned all your bridges and her is dave with the same advice and now you are open to them. It's those people who need this Barbarian approach. One he didn't take. He filed bankruptcy and then built back. Sure, he says after he made his millions again, he paid his discharged debts. Maybe he did. Maybe he didn't. I have to assume he did. Else, it would've bit him by now. Fact is, he didn't even follow his own system but wants you to do it!!!! He makes 10s of millions a year selling you on something he doesn't do hr didnt do when the shite hit his fan.
You’ve got to be kidding me. She sounds like a politician slamming the #1 candidate so you’ll vote for her. She doesn’t make sense but she’s a rebel 😂😂😂
Yet, i rather stay with Ramsey, not budgeting, not tracking your money went and thinking that you can payoff your credit card purchases next month, I tried screwing me every time. 5 % cash back, what in your wallet
Never, ever sell your car that has a warrant and then take out a prrsonal loan to buy a clunker that will leave you stranded in the worst possibE time a d you wont have the cash to buy another clunkers.
If 7 years ago Dave Ramsey had called me an idiot, he would have been correct. I was an idiot. For years I wanted to do it my way, I wanted flexibility and a less than strict approach. For 30 years we had flexibility and achieved a ton of debt.
Then in March 2018 we sucked up our pride and started doing it his way. His way, by the way is basically common sense. The first thing we did was stop using credit cards cold turkey. We started our Baby Step 1 emergency fund. Baby step 2 started March 15, 2018 ran to Dec. 6, 2022 during which we paid off $136K of debt including our mortgage, For 30 years we did it our way and racked up $136K debt, 56 months doing it Dave Ramsey's way and we paid all that stupid flexibility off.
For 2023 we will have put a total of $66,000.00 into our 401Ks and savings account (we have an 8-month emergency fund) and a paid off mortgage and no debt. Baby Step 7, not too bad in my opinion.
Well done. It's fun when your big decision is whether to vacation in Maui or Italy this year.
Yep, gotta stop using that credit card.
Well done Sir.
He shows a framework of how to get out of debt-and I personally think I WAS an idiot when I was in debt. (Also, when Dave uses that tone, he also owns his own idiocy when he was in heavy debt.) I am a millionaire now, and when I was casual with debt and money, I never thought I would be more than a paycheck-to-paycheck person.
He also encourages folks to budget fun-money and generosity, after the debt is paid off.
If your ideas were stellar, I don’t think you’d have to herald your message by putting down his. I’ll admit, I haven’t watched your whole video yet-didn’t feel inspired to after your tactic of vilifying his approach. (I will watch it … but won’t another.)
Some of us need the raw truth, and aren’t so delicate we have to be coddled. Occasionally, cold water in one’s face is the needed wake-up call to reality. Not judgin’. Just sayin.
dave's message is to have discipline and planning and stick to it... this video's message is just the opposite and i've never met someone that's successful by being lazy
You said it! Dave is for those weak minder folks that tried living well beyond their means. I agree those people need rigid and stringent controls to work thoer way out. What she did say that Dave says but then he runs from is that Dave did file bankruptcy and didn't do the Ramsey method. Sure after he regained his wealth he says he repaid his discharged debt. But he never ever says that dikong bankruptcy helped him. He guilts you into not doing it but to do it the way he says but didn't follow. So I'm not too sure I'd follow him he doesn't even follow him.
I can also say I have heard a very big %gphange in his demeanor towards anyone who thinks outside his box. Again, I think he has to stay rigid for the folks that really need it. You know the type. The type that say f it to anyone that was actually giving then good advise while they destroyed their life and now have to hold tight to Dave to survive. Those that have to be coddled by the Dave to it his way. You lfipped off all those telling you to do it differently and you flipped them off. You owe those people apologizes for your lack of humanity. You can take Dave's abuse but not your frie ds or families good and same advice. Kind of like women that fawn for the bad boys and wonder how they got where they are dumped or played or abused, but they lost most of their friends and family trying yo warn them. You mean those raw truth earing people. Listen to yourself. Once you fall n out woth Dave you will be back woth the bad dept boy and refusing the raw truth from Dave.
$20000 debts five years ago, will be out of debt by January 2024.(Go Dave)
Congratulations man! That is awesome. I'm on baby step 2 and will be debt free in June. Neary $50,000 down
@@valentinocaine2294 Congrats to both of you. The finish line is in sight!
I don't worship at the alter of everything Dave says, but his psychological approach to treating money is proven and incredibly effective. This woman is offering god awful advice with the clear intention of making other women feel better about being in crippling debt.
So, don't do a budget. Spending is good. Stay in debt. Great plan... I'll stick with the time-tested method. This seems like a collection of TikTok bad financial advice videos all wrapped in one.
Right. This character is so unserious. She wants to get it all without working for it. Just goes by feelings, not cold hard facts and figures. Team Dave all day along.
Well if her feelings are correct it could always work out. I don't budget now while I did in the past yet my stuff still works.....
@donaldlyons17 Money doesn't work on FEELINGS. You're unserious too. Just saying anything to defend the indefensible.
The number of money experts whose ideas are so good that the only way they can get someone to listen to them is to produce a video on the wrongness of Dave Ramsey is myriad. No one will listen to you fro your ideas? Well, then put Ramsey's name on your UA-cam account. It will boost your views. Then you can say why you disagree with things Ramsey never said (like calling people who call him stupid), and no matter how stupid your idea is, you'll have an audience.
No that's wrong. Dave Ramsey's method is built on discipline while your's is, as you mentioned, with emotions. I know millionaires that became the sort because of Dave's principles. Your principles cost people more money rather than save and make them money all because you did commit due to the discomfort. I'm sticking with Dave because his method does work.
@@davidevans1730 IF they had a process that makes enough money they could become millionaires even without Ramsey.
So don’t get out of debt, don’t budget, don’t save money……. Sounds like a great plan
I’ve gone through some of her videos. She’s all over the place. She has a consumer mindset. This is good for Instagram girlies who need Starbucks and overspend at Target. It’s good for people who don’t want to be disciplined and critically think, which is the cohort of Instagram girlies.
totally contradicting herself, couldn't shift her mindset, um you dont know how to use an eraser to erase your number on a sheet of paper?. Dangerous way to live is to be in debt. emotional needs? you realize that those dollar bills have no emotion. My relatives live like this, hoping it will work out. I'll stick with Dave and GOD's word. @@Bigsteve0299
Clearly not watching my stuff.
It's the American way. Lol
If you actually had a conversation with her you would know that’s not how she works or what she teaches. She is clearly stating that you have figure out what works for you. Ramseys way is not a one all fix all for everyone, obviously he didn’t even take his own advice.
5:45 I don't see this as Dave Ramsey being hypocritical or anything. He openly shares about how and why he went bankrupt. Often, we learn from our mistakes and we teach others not to go down the same path because it can lead to problems or a harder journey. That's how I view that. He does say sometimes bankruptcy is the option and should be a last resort.
Worked for me..i bought a few cash properties and dont have to work .. following Daves basic strategies
Listen, I'm not a Dave Ramsey groupie, and I hold several credit cards (without paying interest on any of them) as well as several low interest auto loans over the years, but the way you put him down as if he's scamming people in order to sell your $500 course raises a lot more red flags with me.
I am not a great fan of Dave Ramsey but he is far ahead of this lady and her ideas. Credit cards are the worst form of debt. Watching the $ in your bank account doesn't help if you forget you have a mortgage or car payment coming up. Lisa's program seems to want you to feel good but not have any real plan or system to save and invest $. What a bunch of hooey she seems to be selling!
She just likes spending money. In one of her other videos she talks a little bit about her second marriage. Apparently the first victim was uncomfortable with her spending, er, I mean he was abusive.
You do not understand the Ramsey plan...... you lost me at "spending is not your enemy...get on his plan it works
I'm not gonna say Dave's way is the only way, but his ways have been tested and proven over time......
I call paying 18% interest on credit card debt a 'stupid tax'.
It's a fine safety net though. If a new well needs to be dug or the roof blows off the card is there. The 18% (more like 20%) is the fire under your feet to pay it off! You only pay for the time to make other arrangements. I once used a balance transfer check as a down payment on a truck with 0% for 6 months, then rolled it to another card for 6 more. So far I've never paid interest but if it has value to me I will.
@@antilogism The last 3 new Trucks I bought I saved for and walked in and paid cash. No rolling anything and no watching for interest. The value drops 20% when you drive away, why add salt to the wound?
No it is the cost of borrowing money from someone else. Nothing stupid about it IMO!!!!
@@HighCountryRambler What wound money is supposed to be used as a way of buying goods and services. Why not just worry about what one needs to do once a purchase is made rather than worry about the money spent on the item(s)?
@@donaldlyons17 Because the 18% interest is not "spent on the items", it's the cost of not managing a savings fund. Buy the 'item' out of your savings fund, go enjoy the 'item' and not worry about what one needs to do once a purchase is made. In Biden's America the 18% is 22%, 22% to replace a $2500 well pump= $550 you just saved and able to drop back into savings. It's easy to see why it's called the "DEBT SNOWBALL."
I think I'll stay with Dave...
😂😂😂 me to! I watch other people to but Dave is pretty damn good 😂😂
While you're at it, stay with Joel Osteen.
Agreed. A lot of straw man arguments… Dave does not say half things she says he does.
I built up 150,000 in low interest credit lines. I sleep better at night. I can purchase property with one of my lines of credit. You only use credit card when you take receipt home and transfer from your bank account to build your credit lines.
Credit score is very high. Can get good mortgage rates.
@@cstuartdcI have heard Dave say everything she said he said. How do you listen and hear?...
Ok so Dave Ramsey has never called anyone stupid for not doing it his way. In fact he tells people to go ahead and try any way they’d like to. There’s literally nothing more freeing than being in baby step 7. Thanks to Dave’s system I have zero debt and have railed money into assets and investments. Dave even says if you don’t like it once you get there, then go ahead and take on debt and blow all your money 🤷🏻♂️ as far as The 7 baby steps… you can say that you won’t do it, but don’t say that you can’t do it. I highly recommend the book “The Total Money Makeover” by Dave Ramsey. It’s not the only way, but this way will not disappoint. Don’t be a slave to debt.
According to Dave all debt is bad and sell your car to buy a horse. I have 5 mortgages on my rentals @3% and I am making about 12% investing. So why would I ever pay them off early?
@@slambig any landlord can have physical problems with properties, or get stuck with major repairs or deadbeat renters-it happens …besides … whom ever heard Dave say to sell a car to buy a horse? I think Dave knows horses are much more expensive than cars. 😏
@@slambigBecause your plan is predicated on every assumption working out. Which will work ... until it doesn't.
exactly. and when you want to try the Avalanche method he tells you to do so. But the most important thing is to pay off your debt.
Gazelle intense + dumping debt = success...
Exactly...... the less money you have to give away, means you'll have more money......
Honestly, this is not a wealth-building approach, it's an anti-Ramsey spiel. As soon as you said you don't like crunching numbers, I knew this was a crock. Money, budgets, wealth and asset-building is ALWAYS, ALWAYS, ALWAYS a numbers game. Just because something is uncomfortable doesn't make it bad or wrong. It's comfort that gets people into trouble initially. Pig-headedness is what keeps you seeking alternatives that ultimately continue to prove to be your undoing. This post will probably be deleted by the content owner. Dave is not the know-all-be-all but I'll take his approach over this one any day, every day.
Well if she can do fine without numbers crunching why is that bad. Wealth building requires extra wealth to build.
@donaldlyons17 Word salad. You made absolutely no sense. Money is a numbers game. Can't get around it. You tried defending the indefensible. 😆 🤣
@@thegodblogger3812 While money is a number game it sometimes depends on factors too. For example a $200 credit card debt at 20% is $240 in 12 months but that matters little if I make more than I spend by $300 or $400 a month because I have the $240 each month. Also budgeting can't make more money so it seems like a ineffective way to using time unless absolutely necessary. I don't think exact numbers are that important only close enough numbers matter as long as I tend to have excess. For example I don't even know how much money I have in my bank account but I know I can buy a 15,000 dollar car today, tomorrow, or the next day.
Does a broke person make six figures? Well if they spend mroe than they make then yes they can be a broke person. What a dumb implication that if you make enough money you're not broke. Its this mentality that gets people in trouble. They think they should live what they think is a high income lifestyle, wheter or not they can afford it.
Someone makint $50k and saving $10k a year to their 401k is less broke than someone making $100k and spending $110k.
You are broke if you have debt and don’t have the cash on hand to pay the debt in full if it comes due. You always OWE some amount of money and can never NOT PAY. You are essentially a slave. Regardless, what you explained at the start of the video was… budgeting. If you are sending certain amounts to certain accounts, it’s because you assessed where you money was going and where it needs to go, which is budgeting.
Exactly!!!! 100%
That was the one thing she said that I didn't completely disagree with. I use a digital envelope system, but I don't require myself to spend every dollar. If I have some left over after I funded my envelopes, I keep them in that " general" category and use it if something minor comes up. I don't think it's so important to give every single dollar an address, just to make sure that every address has all the dollars it needs.
@@ChaimS Do you really need to budget to make sure everything is funded?
Enter stage right new hubby with more money.
Staying with the Ramsey way. I DO need to track every dollar! If I have not kept to my budget and payed with credit cards for far too long. Now at the age of 56 I’m paying the price.
I am happy that your situation worked out with lines of credit. However, to tell other people to rely on credit cards in all their low points in life is unethical and idiotic. The reason you needed a line of credit in the first place is because you were "stupid" with money, not budgeting, and spending money like you had a limitless amount.
It's when you have no debt and have a savings that you can lax on a budget. But until that point, having a budget is simply having a plan to getting out of debt and building that wealth. It's a plan for success. Which is why every successful business has one, every person who has worked their way out of debt has/has had one, and all common sense tells you, that you have to ration your income in order to make it last until next payday, i.e. a budget.
Please keep your sob story and financial advice to yourself.
Preach!
If you’re actually in credit card debt you have no room to give advice.
Not true. Not true at all. Zero debt does not equal "financial expertise"
@@lisachastain credit card debt accruing interest is dumb. Period. I have some zero interest loans and a 2.5% mortgage. Credit card debt at 30% is NEVER going to be a smart decision. If that’s the life you want to live fine. If you get forced into that position that’s fine, it doesn’t mean it is the right finical choice. It’s a poor situation to find yourself in, doesn’t mean it is the correct choice.
@@danielford2369 I don't advocate for high interest debt. Never have I ever said that. And, I'm advocating for financial options. Saying that implies that the only people who are capable are giving financial advice are people with zero debt. But thank you for proving my point. Zero debt does not mean financial expert.
@@lisachastainThose who have no debt are experts compared to those who have debt and a great credit score. Clearly those ppl don't have the money to buy things
@@jonquebyrd3105 Says who...? Ever listened to Graham Stephan? He has plenty of debt yet save 99% of his income. The people who watch Dave Ramsey need daddy to hold their hand because they have zero discipline. Not everyone is immature and reckless.
Sorry, but I disagree with you!! You just didn’t give Dave a good chance. I think you want things your way and don’t fully want to budget. You can’t be Daveish! You have to go full force. I get the budgeting thing now. Do envelopes to separate your money instead of throwing into all one account if that helps. You are accusing Dave of being dangerous. Watch what you speak as you are dangerous with the info you just shared. I’ll take Dave’s record anyday. He has helped me to be debt free and financially set with his gabby steps. Maybe you should revisit it with an open mind. Having open lines of credit is foolish. Dave will teach you how to be financially independent. Best advice I can give is revisit Dave Ramsey plan and really go gazelle intense and you will succeed financially.
His advice is for dummies. Plain and simple. I laugh every time I hear his callers.
I'm convinced some of the calls to Ramsey are fake. I'm not saying the show is making them up, but I think some people are making stuff up. I also think people exaggerate about how much money they make to feel better about themselves. That has nothing to do with the show as I have seen it in real life. I guess it is some sort of defense mechanism.@@slambig
@@slambig If being wise enough to seek council is dumb, then I guess they are all "dumb". The real truth is it takes work to deny "self" and the instant gratification crowd, and work to stick with a plan. That is living like no one else....
You lost me straight off the bat when you allowed credit cards as an option. I'm open-minded enough to believe there are budgeting alternatives (such as saving your paycheck first, then whatever is leftover is what you have to spend, this requires very little budgeting). As much as I don't agree with Dave Ramsey, not using those 30% interest rate credit cards is essential to getting out of debt. If you had enough money to get out of that credit card debt, you had enough money to not get in it. You just decided not to wait an extra month.
What? It would not be easier to be as cheap as possible and pay all bills based on averages then do everything else?
Dave Ramsey gets a strong vote from me considering that everything else is trying to get people in debt while Dave Ramsey is trying to get people out of debt. Still, he is a guide, not a mandate. Everybody's situation is different. My mutual fund investments don't get 12% and nobody else I know of does. Withdrawing 08% per year in retirement is likely not safe for most people either. 04% to 05% is more like it.
I appreciate your take.
Systems and procedures work best when there are steps with rules to follow, and I think that is what makes Dave's plan so effective and appealing.
Spending can be your enemy in the same way eating can be your enemy. Spend too much, you go broke. Eat too much, you become overweight and unhealthy.
Listen to his books. He’s blunt, but people with a 50k income buying a 30k car have set themselves up for a life where they do not have a measly $1,000 of cash on hand to pay for an emergency.
He may call a couple people an idiot for being a grown adult not being able to do fifth grade math that call into HIS RADIO SHOW to ask for advice. When you have 3 minutes with a person you get to the point!!
He has a Christian centered approach to money. In a world of instant gratification and clickbait his method requires discipline and patience. Also, always broke? The idea is FINANCIAL PEACE. Actually have money vs making others think you have it.
Bingo
What does religion have to do with money? NOTHING!
It's not that religion has anything to do with money, but Dave Ramsey is very upfront about getting a lot of his financial planning techniques from the Bible.@@slambig
@@slambig the bible states a lot about money brother. Acquiring it ethically, and paying debts that you owe!
@@TheKCBeast1 Well truth is acquiring money is the start of everything financial so even if it is not gotten legally or ethically many online seem way more worried about getting their hands on it!!!
Woah. I just stopped the video. Saying you "create your own security using debt" is just straight up wrong advice. That is not your money. If you have a medical bill with $6000 left on it but you pay with a credit card or line of credit. You still owe $6000, but you just moved it to someone else who will ask for more than $6000 back. Having the $6000 in your account is LITERAL security. Take my comment for your engagement stats but I am going to close the video.
P.S. Looks like the Dave Ramsey Approach is working for you, by name dropping him 50 times to promote yourself.
Well as long as it works does it matter whose money it was? When I buy a house I get a place to stay using other people's money right at least until I pay it off?
A lot of negative messages here for bashing Dave. I get it, he can be a bit harsh, but sometimes ripping the bandage off is better than sugar coating the problem. What Dave is saying is “If you want to solve the debt and poverty problem, I can show you”. He’s not giving you a menu to choose from because it was your choices that got you where you are, broke! When an alcoholic goes to AA for help, they don’t tell you it’s ok to drink occasionally, it’s none/zero. Same thing with credit and debt. He has a brand and a method for success. Your choice is to do it his way and succeed or roll the dice with someone else’s. I was successful with Dave’s method and would recommend it to anyone. It’s not easy, but changing your life style for the better never is. Good luck to anyone that has the guts to try.
Stop clout chasing using Dave Ramsey name
Not everyone that disagrees with him are clout chasing…
Possibly. But she is using his name, his picture, and what he teaches, for views and all in an effort to get you to buy what she is selling. That is chasing something for sure.
@@valentinocaine2294 Is he clout chasing when he bashing credit card companies and car loans so he can sale his book? Some people are so easily manipulated… Dave Ramsey’s all about making money just like everyone else. He didn’t get rich following the principles he is telling everyone to follow.
@@valentinocaine2294 he is also wrecking people credit score so they have to go through his sponsored real estate company. He has a lawsuit for a sponsored company that was defrauding people…Dave is not this great guy y’all paint him to be.
I think you missed the whole point about Dave's advice. It's you (the consumer) that's the problem. Dave's advice didn't work for you because you didn't change your money habits and you think (feelings) otherwise. I'm giving you a no, and Dave a yes!
Yeah ya missed with this one mate
Obvious clickbait by putting Ramsey in the title (hey, it got me, so congrats for that). Bottom line, his way has gotten millions out of debt and into wealth, and your way hasn't.
His way is to spend less than they make.... Any process that does that can get people out of debt.... No they got themselves out of debt using Ramsey process but they had to have the cash to get out of debt in the first place.
You never understood what Dave Ramsey does. He gives a plan to shortest way to become debt free. Doing it your way is typically not the shortest path…
So you said that Dave Ramsey’s way was either his way or no way, but then you said the very same thing about your way not 15 seconds later. 🤦♂️
Sorry but I’m sure budgeting and discipline really helps or works. You can use credit cards as long as you pay your balance in full every time it is due. You learn from your mistakes so if you experienced bankruptcy like Dave Ramsey went through he sure know what he is talking about and how he learned from his mistakes.
This whole video is a red flag 😂
Dave Ramsey is a red flag.
@@lisachastainwhy would you say that. How about you do your thing and let Dave to his.
I went through Financial Peace University a few years ago and practice 80-90% of what he teaches. The course definitely wasn't promoting a broke mindset, at least not the presenters we had.
I got out of debt the Dave Ramsey way.I am out ofdbt for one year.I save money in a money market and Treasury Securities. I have no mortgage and no debt. I do no other investments. Inevsting in stocks, mutual funds are to much like gambling.
I’m a big fan of Dave’s “get out of debt” structure; other stuff not so much. But if you start with the assumption that money can only be used for two things: spending or saving - then spending is the problem. Debt occurs when you spend future money - money you do not yet produce. Spending less means saving more.
I am sorry, but I think there are some details you are missing.
The way I understand it, Dave Ramsey's preaches that investing thought debt means slower grow plus more stress.
Seldom you can leverage debt.
Banks has stablish rules toward their advantage & people don't always get those points.
In my opinion, you should have refinance your home instead of using credit cards, although your could have the liberty of leveraging interest rates with infinite banking scheme.
Bottom line, Dave Ramsey makes lots of sense.
I am not familiar with your approach, but one thing I know, credit cards hinders your funds from growing.
She would be better off just explaining her method of dealing with finances as her comparisons with DR just aren’t true. If you earn $60,000 a year you shouldn’t buy a $40,000 car. You either buy a cheaper car, or you look to increase your income. If you’re in debt you need to take on jobs , cut expenses etc to get out of debt . Ultimately what DR wants you to do is avoid debt and build wealth. The pain of getting out of debt should be enough to stop you from making the same mistakes again.
You're encouraging people to take on debt via credit cards at 30% interest? Which is legalized loan sharking. There's some excellent advice! Ha! No budget? Really? Sounds like you're making excuses for you own bad, undisciplined behavior and blaming Dave. I'll stick with him.
Not at all. I think options are important. I'm not encouraging anyone to go into debt.
So what exactly is the stop budgeting framework? I didn't see the steps aside from just changing your mindset?
So uh, did you get out of debt? I agree that Ramsey's advice can be very strict, but you'll be hard pressed to find any financial advisor who thinks that keeping debt around with an interest rate of higher than 6% is a good thing.
No she’s not out of debt. She just said she used credit cards for her kids and marriages failure instead of having an emergency fund she’d rather put it on a credit card.
Why would I ever want this woman to give me budgeting advice when Daves net worth is 200 million
I have talked with financial planners that will say “Everyone has credit card debt. You will continue to carry a balance. You are not going to stop that. Start investing for retirement.” Those same financial advisors probably have car leases and boat payments. There are fat doctors also. Not all practice what they preach.
The thought that things are "good" and "Bad" is the whole problem with any expert who takes a black and white approach. My call to action is for my clients to start thinking for themselves. Not follow a stringent philosophy that's all or nothing.
@@lisachastain that's true, but if your aim is to get out of debt, and your approach doesn't achieve it, the approach doesn't work.
Either this video backfired something awful or you work for Dave bcuz all you did here was send people back to him for financial advice😅.
I recently watched a Netflix documentary about money. One of the episodes covered Credit Cards and explained what an awful money tool they really are.
The only winners are the banks.
At the end of the day, you can have any mindset you want.
If you are in debt, then that debt is deducted from your net worth.
It doesn’t matter what mindset or emotional attachment you have with money, the overall true sign of wealth is being in credit and actually growing your money through investing and buying assets. The rest is smoke blowing.
It didn't work because you didn't do it lol. Get real
Sounds like she knows nothing about money.
If she is in her own world she can't use money the same way as others either way. One of my parents doesn't have a job so no matter what she can't have more money than she started off b/c she has no income to get it from.
Not true...she knows how to spend it. 🤣
What is she talking about, math is math. Budgeting is very rigid what the hell.
You must budget if you want to get out of debt, you must know where the money goes.
She sounds like a princess.
She just doesn't have the discipline to follow the Ramsey way
I get what you’re saying by having financial options around you. In theory this makes a lot of sense.
Unfortunately, in practice THE MAJORITY of people at least in the US should not be utilizing debt except to buy a house.
This is reflected by the stats, of the amount of households that can afford a $1k emergency. Also with how credit card debt has risen in this country over the course of Covid. Also, with the amount of student loans that are lingering out there.
There are a few people who can utilize debt instruments effectively, but the majority NEED the Dave Ramsey approach to stop being casual about their debt.
Even in Charles Stanley’s book the millionaire next door, millionaires surveyed maintained little to no debt. They paid in cash. Ultimately, it’s up to everyone what they want to do. But most people are better off just operating without debt.
I started watching this video, then i stopped. i though i could get some inside knowledge and reality on how it is to be in a pay off debt journey. But it is not. Some youtuber use that kind of click bait just to get attention and they explain on how they pay their own debt and how difficult it was for them. But at the end they are glad they did it and motivate people to do it to.
Is this for real? I paid off almost $90k listening to Dave. Debt free. Think i will stick with Dabe.
Well yeah following any process that tends to work has the ability to allow people to do stuff. The video creator suggest that Ramey plan does not work for her but that does not mean anything about anyone else.
While I don't agree with everything Dave Ramsy says, anytime someone starts talking about credit card debt being ok is just wrong.
Credit card debt generally runs between 18%-30%. That is insane. However, I'll just go with the new saying "You do you," since that is what you are going to do anyway. The people telling everyone to invest in cryptocurrency are also incredibly smart.......
Not true having credit card debt and student loans did not cause me any problems over a 5 year period of time. So not one way works with money IMO.
as I said, "you do you." I'll take my debt free life any day.@@donaldlyons17
Being in debt is like being overweight there's lots of different ways to solve the problem and people pick different solutions. Credit cards are like alcohol if it's managed correctly it's not a problem.
Investors are like bankers they both have the expectation of ending up with more money at the end then they started with.
This is a dangerous video, I hope people don't take this financial advice.
Create your own security by having lines of credit? Amex...is that you?
The zero-based budget doesn't work? That is the daftest thing I have ever heard.
If you have alternative financial ideologies that are proven to actually help people in the long run, then write about them and make videos. But this video isn't that, it's just bashing someone else.
Frankly, the numbers speak for themselves: number of people Ramsey has helped achieve financial freedom and/or become millionaires...
Wow…just wow.
For some reason this video and her program reminds me of Saturday night live's "Change Bank"
Since when has Dave called people stupid for not following his plan. Sure when you make 50k a year and buy a 50k car he'll call you stupid and rightfully so. You clearly have not really ever listened to Dave.
well but a good car is a must for many in places where public transportation is not an option. I have heard of many people loosing their jobs due to transportation issues.
@@donaldlyons17and thats how people justify a car loan. You can buy a good car for alot less. I bought a used truck for 15k cash and it does everything I need. Just didn't come with that new car smell.
@@tedeberhard9863 Without new car buyers how would there be any used cars to buy. At some point the older cars were once new ones!!!! Also, there is nothing wrong with a car loan in my experience they work well because they offer a product now in exchange for a higher overall payment. Old cars in my experience also have a upkeep cost so either I get a new car which cost more but should cost less in maintenance or I get an old car that cost less but cost more in maintenance cost... with cars I doubt there is any free lunch.
@@donaldlyons17 lol. Yes I don't think used cars miraculously appear. By a new car when you can afford it with cash. What car loans do is allow someone to buy something they really can't afford. Studies have shown people will spend more when it's done with credit.
@@tedeberhard9863 Well for some people that might be true but for me if allowed to decide what to buy that has never been the case. Money on cards is the same as money in the bank so I already know I can't spend more on the card than what I make in cash so it is never a problem.
Unrelated to the topic, but your two camera setup needs a bit of help. So you are talking directly to the audience - the people - watching not an interviewer. Straight into the camera. Then you switch to camera 2 and we get a 3/4 angle of you talking to camera 1. So basically it’s like you have turned away from your audience and started talking to the wall. You are better off turning and talking directly into camera 2. Now if there is an interviewer having you not looking directly into either camera directly makes sense.
Horrible advice 👎
If I followed Dave's advice I would be worth about 1/50th of what I am worth today. He is a victim of his own prior failings which has made him paranoid about debt, and credit cards. His advice is for dummies who can't control themselves.
@@slambig Your response has nothing to do with my comment. I didn’t even mention Dave at all. All I did was call this lady’s advice horrible (which it is)
@@EpicFaCe441 Well it is a disorganized approach to money but it could yield in high credit score(s) and other minor benefits plus if she is outpacing expenses she could win despite not doing any number crunching.
If you have a lot of debts and live check by check, you can't call yourself a wealthy person. Don't lie to yourself.
You don’t need a budget if your income is high enough. Same with debt, if you double your income without increasing your lifestyle, you won’t increase your debt. Most Americans can’t increase their income at will though. Dave sets stringent guardrails around your financial life so it can drastically improve.
You always need a budget, no matter your income. Otherwise you could be one of these millionaires who brings in 5 mill a year while spending 10 mill. There are plenty of broke millionaires. They file bankrupt just like W-2 employees.
@@thegodblogger3812 What you talking about even without running the numbers I can guess each money on my monthly expenses. In the past I knew I was spending less than $1,600 a month because I always had money left over each month. Don't need a budget to tell me if something will work all I need to do is buy everything and see what is left over at the end of each month.
@@donaldlyons17 Dumb and dumber. You made no sense. But keep going. Broke and broker too. 😆
5:33 Dave never says to eat "Beans and Rice" for 7 years. You go through Steps 1-3 as quick as possible, "Gazelle Intense and eating beans and rice" for at the most 2 years. Once you are done with Steps 1-3 you can get off gazelle intense and start to enjoy your money. And Dave was not doing his plan when he went bankrupt, that is what caused him to change. I dont think you listened to Dave at all and if you did you didn't learn anything.
Both of you have great points
One hell of a desperate and tacky way of getting clicks by using Dave Ramsey’s name, including a ridiculous thumbnail. How embarrassing. And to top it off, the worst fantasyland advice ever.
Disagreeing with someone is not desperate. There are so many people who disagree with Dave Ramsey. Offering a different perspective.
@@lisachastain I didn’t say disagreeing with someone was desperate. I said using his (popular)name and a ridiculous thumbnail was desperate.
I agree with you @sidnum ! I gave Lisa another listen, and she mentioned Dave's name 15x in about 10 minutes.... I guess Dave lives "rent-free" in Lisa's head.
@@charliemonk3105 With the amount of money he makes vs. what it likely cost him to survive I would 100% say he lives for free..... The ratios are even better than they are for people who live on 50% of their income.
The guy hates bankruptcy, but it's literally biblical. I suffered way too long trying to do it his way, the only thing that worked (and saved my life) was bankruptcy.
Moving on 😂😂😂😂....
This lady sounds like a lot of people I meet at the gym. "I really want and need to lose weight but I still want to eat anything and everything...its not fair." Discipline honey.
I have a money saving mentality it was my exwife and her kids that drained me dry but I have a secret account that helped me out that she never found out
I’d still prefer Dave Ramsey’s approach. Yours is too risky. Anyway your approach in putting Dave’s name in your videos gets you views hahaha
You just made Ramsey more popular with this! Clearly you do not get his approach. Live on beans and rice while paying off debt and building wealth so THEN you can have steak for the rest of your life.! He does not want people to live like broke people but to spend intentionally… wait… I think Rachel Cruze said that? Oopsie… now you are gonna go after her. 🙈 How can you be generous using credit cards? Seriously, I hope you sleep well at night with all those credit card debts. You still have time to change your mind dear.
Why suggest that works when it is possible many will live on beans and rice the rest of their lives even without debt.
Was trying to watch but couldn't hear you over the horrific back ground music.
One thing ive never seen Ramsey knock down other advisors , dont look good period
Just a quick question, how many million dollars do you have??
Have you applied for a job with the federal governments budget bureau? I have a feeling you'd be a natural with a bright future.
Well no having loans is not bad the problem comes with servicing the loans. Also any budget will work even if it is not written down...... I suspect the problem with money is that is has to be made in order to be spent. Lastly I agree Dave Ramsey does not work epically when people don't have an income.
I'm guessing your selling a course ?
Lisa, take this for what it's worth. The tone of your video is very off putting. It's almost like you have a grudge against Dave and that becomes very apparent in the first couple minutes. If you're focus is on alternatives, spend a little more time talking about your method instead of tearing down his. His approach is very rigid and that's the appeal. He helps people who are literally spending themselves into poverty. They don't need empathy or coddling. They need results....like yesterday.
That's all nice but 60% of Americans live paycheck to paycheck. Having a "healthy line of credit" isn't gonna help them out of that. Business debt can absolutely be useful and healthy, but it's a very different concept than personal debt.
The top rung have all sold their souls ; that's why they got there. I had it offered to me ...but the price was my soul. Declined
Most of Daves theories are sound. But you have to be so bad with money or earnings that you have lost friends and families that have been trying to help you, but you just flipped off. But now you are at rock bottom and burned all your bridges and her is dave with the same advice and now you are open to them. It's those people who need this Barbarian approach. One he didn't take. He filed bankruptcy and then built back. Sure, he says after he made his millions again, he paid his discharged debts. Maybe he did. Maybe he didn't. I have to assume he did. Else, it would've bit him by now. Fact is, he didn't even follow his own system but wants you to do it!!!! He makes 10s of millions a year selling you on something he doesn't do hr didnt do when the shite hit his fan.
People who carry credit card balances are DUMB. I was once DUMB, too. There's no getting around it.
You’ve got to be kidding me. She sounds like a politician slamming the #1 candidate so you’ll vote for her. She doesn’t make sense but she’s a rebel 😂😂😂
What’s her net worth again?
You're gonna have to grow up and take some accountability.
So let's see who has the most subscribers!
I'll stick with Dave, its worked for me for over 10 yrs
Well it worked for me.
Dave paid back all his creditors after his filing for bankruptcy
For a few seconds, I thought that you meant that Dave wasn't your employee. You ought to take some speech classes.
Credit card use 😮 .If you can’t afford to pay for it.Dont put on a credit card.
Yet, i rather stay with Ramsey, not budgeting, not tracking your money went and thinking that you can payoff your credit card purchases next month, I tried screwing me every time. 5 % cash back, what in your wallet
Worse advice I have ever heard apart from "experts" on TikTok.
No to you
. Why do you have to put down what someone else does to promote your version. His options work for some and yours my work for some.
KNEW
Never, ever sell your car that has a warrant and then take out a prrsonal loan to buy a clunker that will leave you stranded in the worst possibE time a d you wont have the cash to buy another clunkers.
Click bait😂
What a joke