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Yahoo!Member Opinions:
By: DMKW on 1/3/10
I guess I don't see the relevance or need for the phrase "academic garbage" in this article. There's certainly no respected stream of academic research advocating bad judgment and using debt to buy things you can't afford. I have an MBA in Finance and I can assure you that there was nothing in the curriculum about that. This guy may have been given bad advice about using debt, but I doubt it was derived from real academic research.
I guess I don't see the relevance or need for the phrase "academic garbage" in this article. There's certainly no respected stream of academic research advocating bad judgment and using debt to buy things you can't afford. I have an MBA in Finance and I can assure you that there was nothing in the curriculum about that. This guy may have been given bad advice about using debt, but I doubt it was derived from real academic research.
By: GELewis on 1/4/10
With all due respect, Mr Ramsey is just dead wrong. Most rental car companies cannot qualify you for rental if all you have is a debit card. Responsible users of credit are a much lower risk than someone who quips "I don't believe in credit cards! Those things'll get you into trouble!" Granted, credit card companies have extended credit to many people they shouldn't have & that practice needs to stop, but financial advisor Clark Howard, who makes a lot more sense to me than Mr Ramsey, calls debit cards "fake pieces of trash." I wholeheartedly agree.
With all due respect, Mr Ramsey is just dead wrong. Most rental car companies cannot qualify you for rental if all you have is a debit card. Responsible users of credit are a much lower risk than someone who quips "I don't believe in credit cards! Those things'll get you into trouble!" Granted, credit card companies have extended credit to many people they shouldn't have & that practice needs to stop, but financial advisor Clark Howard, who makes a lot more sense to me than Mr Ramsey, calls debit cards "fake pieces of trash." I wholeheartedly agree.
By: Macgyver on 1/4/10
I've used my debit card for car rentals at Avis, Dollar and Hertz. The only down side to it is they secure a sum of money (deposit) from your account and refund it at a later date. If you read their fine print some places are entitled to hold that money longer than others. I have a Visa logo on my debit card. I still carry a CC for those times my bank locks my card cause of too much activity, that has happened in the worst places on earth for me.
I've used my debit card for car rentals at Avis, Dollar and Hertz. The only down side to it is they secure a sum of money (deposit) from your account and refund it at a later date. If you read their fine print some places are entitled to hold that money longer than others. I have a Visa logo on my debit card. I still carry a CC for those times my bank locks my card cause of too much activity, that has happened in the worst places on earth for me.
By: weeeezzll on 1/4/10
Dave Ramsey's approach to finance is completely juvenile. Can't handle credit with maturity? Don't bother learning, just avoid it like the plague.
Frequently get into accidents? Don't learn how to drive better, just walk everywhere.
Fell off your bike? Don't bother getting back on again, you'll just keep falling. Get rid of your bike and crawl around everywhere you go. You can't fall if your already on the ground.
Dave Ramsey's approach to finance is completely juvenile. Can't handle credit with maturity? Don't bother learning, just avoid it like the plague.
Frequently get into accidents? Don't learn how to drive better, just walk everywhere.
Fell off your bike? Don't bother getting back on again, you'll just keep falling. Get rid of your bike and crawl around everywhere you go. You can't fall if your already on the ground.
By: Trvlace on 1/4/10
Never could go for much of anything this man preaches. He is just another public speaker taking peoples money, no more, no less. I think about half the time his advice is bad, caveat emptor!
Never could go for much of anything this man preaches. He is just another public speaker taking peoples money, no more, no less. I think about half the time his advice is bad, caveat emptor!
By: thankyouforsmoking on 1/8/10
Really folks? I'm a Dave Ramsey fan through and through. I think he teaches common sense, and he makes good money at it, for which I don't fault him. I'm completely debt free thanks to Dave. I have no credit card, and the only debt I ever plan on (maybe) having is a mortgage. I don't make much money, but I guarantee I'm a lot 'wealthier' than a lot of most folks out there because I don't owe anyone a dime! If I'm going to buy something, I have the patience and self control to pay for it in cash. That's not only good financially, but it gives me financial peace! If I get laid off tomorrow, I don't have to make payments on anything other than rent, food, lights, just the basics. And thanks to my fully funded emergency fund, I could not work for about 5 months and be just fine!
@GElewis, just a quick google search showed that both Hertz and Enterprise accept debit cards. And why are debit cards "fake pieces of trash"?
@weeeezzll- I would call his approach simple, and commonsensical. Personal finance doesn't have to be crazy hard. You say to walk instead of drive if you get into accidents, well should an alcoholic go to a bar? Should an obese person go to a buffet? No. Most people can't handle credit, which is why we just had the recession that we did. People were irresponsible and borrowed more than they could afford. So just like alcoholics should avoid even one drink, shopaholics should avoid credit cards. If you play with snakes, eventually you're going to get bit.
@Trvlace- What makes you wary of Dave? Of course he 'takes' peoples money, that's called running a business. McDonald's does the same thing and look what you get. Dave's teachings have changed millions of lives. He has built his business without the use of debt, employs about 300 people, and has been voted the best place to work in Nashville. And, he's worth millions of dollars! I want to get financial advice from millionaires, not broke people!
Really folks? I'm a Dave Ramsey fan through and through. I think he teaches common sense, and he makes good money at it, for which I don't fault him. I'm completely debt free thanks to Dave. I have no credit card, and the only debt I ever plan on (maybe) having is a mortgage. I don't make much money, but I guarantee I'm a lot 'wealthier' than a lot of most folks out there because I don't owe anyone a dime! If I'm going to buy something, I have the patience and self control to pay for it in cash. That's not only good financially, but it gives me financial peace! If I get laid off tomorrow, I don't have to make payments on anything other than rent, food, lights, just the basics. And thanks to my fully funded emergency fund, I could not work for about 5 months and be just fine!
@GElewis, just a quick google search showed that both Hertz and Enterprise accept debit cards. And why are debit cards "fake pieces of trash"?
@weeeezzll- I would call his approach simple, and commonsensical. Personal finance doesn't have to be crazy hard. You say to walk instead of drive if you get into accidents, well should an alcoholic go to a bar? Should an obese person go to a buffet? No. Most people can't handle credit, which is why we just had the recession that we did. People were irresponsible and borrowed more than they could afford. So just like alcoholics should avoid even one drink, shopaholics should avoid credit cards. If you play with snakes, eventually you're going to get bit.
@Trvlace- What makes you wary of Dave? Of course he 'takes' peoples money, that's called running a business. McDonald's does the same thing and look what you get. Dave's teachings have changed millions of lives. He has built his business without the use of debt, employs about 300 people, and has been voted the best place to work in Nashville. And, he's worth millions of dollars! I want to get financial advice from millionaires, not broke people!
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