Ramsey has been a shitbag for a long time. This is no surprise.
My parents gave me a subscription to his financial university program a number of years ago. Some of the basic concepts are great, like the debt snowball. On the other hand, he places the blame for insufficient income on the people; if you simply can’t cut enough expenses, then you need to earn more money, so get a better job you lazy schmuck. …As if that actually worked for most people. It entirely ignores economic realities, where a large number of people have to lose so that a very few people can win.
The snowball method can be helpful in a psychological sense, but it’s less than ideal from a financial standpoint. (You can pay down debt faster with more conventional methods, IF you stick to them.)
Ramsey has been a shitbag for a long time. This is no surprise.
My parents gave me a subscription to his financial university program a number of years ago. Some of the basic concepts are great, like the debt snowball. On the other hand, he places the blame for insufficient income on the people; if you simply can’t cut enough expenses, then you need to earn more money, so get a better job you lazy schmuck. …As if that actually worked for most people. It entirely ignores economic realities, where a large number of people have to lose so that a very few people can win.
The snowball method can be helpful in a psychological sense, but it’s less than ideal from a financial standpoint. (You can pay down debt faster with more conventional methods, IF you stick to them.)