My Brain Hurts - Dave Ramsey Facebook Group

[Milizard]

My professional work is barbells. I follow the Starting Strength method, which uses low-bar back squats. I often see, "That's squatting... but it's high-bar squat! He's squatting... but not in the right way!" And long arguments ensue.

My hobby is roleplaying games, especially D&D. I often see, "That's D&D... but it's not the right edition!  It's D&D...but not in the right way!" And long arguments ensue.

And now here with finances: "People are getting rid of debt and saving up money... but not in the right way!" And long arguments ensue.

Relax, boys... I was going to say, "and girls", but it's rarely women who engage in this silliness.

Sometimes, if you don't do things "the right way", you can really injure yourself.  Or perhaps you have some special circumstances where one "right way", is very ill advised for you.

So true, but we are not the "right and wrong" police. Let people make their own mistakes. Remove the log from your own eye before removing the speck from your brother's as it were.

I'm not foregoing getting a 100% 401k match so that I can pay off debt at 2%, so I'm good, TYVM. Im not caahing out of an exceptionally good guaranteed return, just because it falls under the label "whole life". Excuse me for trying to help out my brother.

[talltexan]

My professional work is barbells. I follow the Starting Strength method, which uses low-bar back squats. I often see, "That's squatting... but it's high-bar squat! He's squatting... but not in the right way!" And long arguments ensue.

My hobby is roleplaying games, especially D&D. I often see, "That's D&D... but it's not the right edition!  It's D&D...but not in the right way!" And long arguments ensue.

And now here with finances: "People are getting rid of debt and saving up money... but not in the right way!" And long arguments ensue.

Relax, boys... I was going to say, "and girls", but it's rarely women who engage in this silliness.

Sometimes, if you don't do things "the right way", you can really injure yourself.  Or perhaps you have some special circumstances where one "right way", is very ill advised for you.

So true, but we are not the "right and wrong" police. Let people make their own mistakes. Remove the log from your own eye before removing the speck from your brother's as it were.

I'm not foregoing getting a 100% 401k match so that I can pay off debt at 2%, so I'm good, TYVM. Im not caahing out of an exceptionally good guaranteed return, just because it falls under the label "whole life". Excuse me for trying to help out my brother.

Note: when this 2% interest rate applies to mortgage debt, Dave Ramsey advocates making 401(K) contributions along-side paying down the mortgage. Unless your employer matches contributions in excess of the first 15%, which--if they do--I have a resume I'd like to send you.

[Milizard]

My professional work is barbells. I follow the Starting Strength method, which uses low-bar back squats. I often see, "That's squatting... but it's high-bar squat! He's squatting... but not in the right way!" And long arguments ensue.

My hobby is roleplaying games, especially D&D. I often see, "That's D&D... but it's not the right edition!  It's D&D...but not in the right way!" And long arguments ensue.

And now here with finances: "People are getting rid of debt and saving up money... but not in the right way!" And long arguments ensue.

Relax, boys... I was going to say, "and girls", but it's rarely women who engage in this silliness.

Sometimes, if you don't do things "the right way", you can really injure yourself.  Or perhaps you have some special circumstances where one "right way", is very ill advised for you.

So true, but we are not the "right and wrong" police. Let people make their own mistakes. Remove the log from your own eye before removing the speck from your brother's as it were.

I'm not foregoing getting a 100% 401k match so that I can pay off debt at 2%, so I'm good, TYVM. Im not caahing out of an exceptionally good guaranteed return, just because it falls under the label "whole life". Excuse me for trying to help out my brother.

Note: when this 2% interest rate applies to mortgage debt, Dave Ramsey advocates making 401(K) contributions along-side paying down the mortgage. Unless your employer matches contributions in excess of the first 15%, which--if they do--I have a resume I'd like to send you.

This example was for a student loan.  A 100% match on your first 4 or 6% (cant remember this case  exactly) of your pay that you  contribute is like an instant 100% return on that money.

[OurTown]

The "lowest balance first" routine works for them.  There is a comment in one of the audio books, "if you were so good at math, why are you in debt?"  Great question actually. 

I would submit that the psychological payoff of the "lowest balance first" system is probably worth the math compromise EXCEPT for really significant outliers such as a zero percent loan which can easily wait until the end or some ridiculous confiscatory rate at the other extreme, like a 29% penalty rate which should jump to the front of the line.  Otherwise, it feels good to knock out a small debt and snowball that payment up to the next debt.  There is nothing wrong with feeling good about paying off your debts!     

[facepalm]

My professional work is barbells. I follow the Starting Strength method, which uses low-bar back squats. I often see, "That's squatting... but it's high-bar squat! He's squatting... but not in the right way!" And long arguments ensue.

My hobby is roleplaying games, especially D&D. I often see, "That's D&D... but it's not the right edition!  It's D&D...but not in the right way!" And long arguments ensue.

And now here with finances: "People are getting rid of debt and saving up money... but not in the right way!" And long arguments ensue.

Relax, boys... I was going to say, "and girls", but it's rarely women who engage in this silliness.

I love the book and Ripp's methods.

And I agree with you on all points.

I used Ramsey's snowball method to kill off about 10K in debt at one point in my life. Was it the best method? Who knows and who cares. It worked for me, at the time. Do I still listen to him? No, but for someone else, he might say something that clicks, and that might be the one thing that puts another person on the road to financial freedom. That is a win in my book.

The thing I hate most about Facebook and forums like these is all the stupid chatter about what other people are doing or saying. I see this all the time in my keto groups. WTH LOK WTF someone on that other group sez 90% fat they are sooooo wrong blah blah blah.

Who cares? It's all gossip, and ultimately unproductive.