6 Reasons Why I Stopped Following Dave Ramsey (pt. 1)

6 Reasons Why I Stopped Following Dave Ramsey (pt. 1)

The Dave Ramsey Baby Steps have helps many families reach financial freedom and join the debt free community, but it’s not the ONLY way to financial independence. Over the years, the ways I don’t follow Dave Ramsey have grown in budgeting, investing, spending money, using credit cards and more. Plus listen to the Dave Ramsey Show doesn’t always represent The Bible and Jesus Christ, which is why we have to talk about 6 reasons why I don’t follow Dave Ramsey or Financial Peace University as a money coach or in my debt free life.

00:00 Introduction
05:50 Reason 1
11:09 Reason 2
15:25 Reason 3
22:54 Planner Winner
24:12 Final Thoughts

#daveramsey # debtfreecommunity #tianabclewis

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EQUIPMENT

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Microphone: Rode Microphones Wireless GO II Dual Channel Wireless Microphone System

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CREDIT:

- “Daydream Lo-Fi Hip-Hop” by lucafrancini

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[selahmoney]

Hey fam, thanks for tuning in! Congratulations to Vanessa Akeredolu on winning the Clever Fox Budget Planner (You'll hear from me soon)!! So what are your thoughts on this video?

[kathigee]

With ya on this completely! Good friend of mine always said "Eat the chicken and toss the bones!" DR has some good strategies... but we have to be careful not to take what he says as gospel... NOT gospel. Have a great week! (I LOVE the blue blouse with your hair!!). ~k

[MinnieOnCam]

I really dislike when Dave would take calls from other countries, like Canada's financial system is not the same as America so I would hate it when he would give his Dave advice and the financial legal specifics in another country have other options. i.e student loans in Canada can be included in bankruptcy if you've been out of school for 7 years.

[tyresseferguson]

One of the things that I don't agree with is to stop all investment until you're debt free. Compound interest is the BEST and depending on the amount of debt one has it could take 5+ years to pay it off. Also, if one work in government then it's mandatory to contribute to the retirement account. I work for a local government and we have a pension and the City contributes 27% of my gross income per pay while I put in 6% and can't choose to opt-out of this but why would I. Also, while following his first 2 steps one car emergency cost me almost $2, 000 which was double what my starter emergency fund was. So after that I was like yeah naw $1, 000 is not enough.

[richardlee]

Your insight is wonderful. It's a blessing for everyone, not just Christian women.

[kevinlue]

They act like people are so simple minded, we cant possibly do more than one thing at a time. How in the world could i possibly pay off a credit card AND investing in a 401k?! 😱

[NTGreekGal]

Hi I am so glad you mentioned your concern about only a $1, 000 emergency fund. Most emergencies probably are less than $1, 000 but unexpected car problems/ repairs and medical bills can be way higher than $1, 000.

[MinnieOnCam]

in Canada there are two registered investment account types that give you a government match, they are the RESP registered education savings plan and the RDSP - registered disability savings plan.

For 2021 I deposit $3, 500 and got a government match of $11, 500.00, for 2022 I deposit $4, 800 and I'm waiting on my government match of $10, 500. if I followed Dave Ramsey being in Canada. I would lose out on that government match. So Dave Ramsey advice hurts a lot family situations with pause investing.

[NeoSoulCrew]

The stopping the 401k match is the reason I never took his baby steps seriously.

[samanthagarcia]

I love clever fox budget planner. It has helped get on track with my finances. 💕

[NikStar]

Your hair color is very nice, very warm.

[ernestoperezcorona]

After almost 10 years following, I get there some gray areas, but principles work.. if you have some other risks in your life, it is ok to add to your emergency fund because you already know it is a possibility. Dave mentioned that. is up to you. When he suggest to stop 401k is in a really bad scenario where you need cash available, considering is a temporarily.. On the 12% reference.. he also mentioned that only half is true.. you still end in a very good place...

[sarahshanahan]

Check out clark howard. He is the real deal. I used to like dave... and then I started to listen to clark... and I realized how limited and almost dishonest ramsey is

[fsm]

I do agree with paying off the mtg asap the payment to the lender is yours now added with peace of mind, then pay that same payment to your self

[kenmartin]

I think his 10% withdrawal rate in retirement is too aggressive

[hbahena]

This is bad advice too, paying taxes on your 401klater on when taxes are higher and you’re in a higher tax bracket just wipes away that company match …401k is a scam

[fsm]

The employer match contributions on 401 k actually a thing of the past almost non existent actually

[WISHBONEL]

Being debt free is a psycilogical thing . I agree with him, because if f it was a math issue, then you probably would not be in debt in the 1st place .

I disagree wiith the anount hhat he says to have withheld for income taxes . Because if there is ever a need for an extension, the interest and penalties probably won't be a factor .

[zenlife]

I’m finding Ramsey followers to be highly judgemental. Like dogmatic and mean. That’s turning me off even though I follow some of his plan.

[johndefalque]

He spends way too much time talking to and about his imaginairy friend. He also brandished a handgun at a board meeting, sacked a woman for being pregnant out of wedlock.