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Veteran Advisor

Something Good on the Airways

Was out spraying soybeans last night, and in the absense of a Twins Broadcast, I found a channel with someone talking things that made some sense. I had never heard of him , but I guess he has some sort of financial counseling business and writes a lot of books. The name of the guy was Dave Ramsey, and he was not rude or crude like the nutjobs on both the far right and far left. In fact, you would not really take his show as political at all, except for the fact that he does come from a Chrisitan background, and he does talk about financial discipline and paying off your debts. Living debt free is a big part of what he talks about.

 

I have my own ideas about it, but would like to hear others tell why they think that when you talk about Christian living and paying off your debts, you usually get painted into one political corner, and when you talk about hedonistic, immoral living, and not paying for what you want to consume, you are usually identifed on the other side of the political spectrum.

31 Replies
Senior Advisor

Re: Something Good on the Airways

Many of us see and hear Dave Ramsey on cable television. Yes he offers good advice about finance and how to break the cycle of debt. The big thing is to discipline your self and focus on retiring your debt. It's really about taking charge of your finances instead of being enslaved by personal debt.

 

I think the churches hire him because they have so many parishioners so deep in hock to credit card companies they have nothing to toss into the offering tray on sunday.  *grins*

Senior Advisor

Re: Something Good on the Airways

Dave Ramsey should be required reading in high school economics class. He makes a ton of sense. Paying 21% interest to a credit card company is idiotic. He philosophy of if you can't pay cash do with out, pay yourself first,  give to charity, and live like no body else so when get older you can live like no body else is excellent advice.

Senior Contributor

Re: not just Christians Red

I think you make a big mistake by trying to equate good money management to 'christians'.

Money management is not tied to religion. It is a mindset, a way of life, a choice that some people make even if they understand the truth about 'gods'.

Talk to some people and you will come to realize they have no concept of the relationship of interest, time and money. They actually believe those ads that say your purchase is 'free' for 6, 12, 18 months.

Try offering cash for the purchase and you find out how 'free' it is.

Senior Contributor

Re: Something Good on the Airways

Strange thinking,

I thought everyone who carried debt made regular payments of principal and interest on that debt, otherwise, face foreclosure. What's wrong with debt as long as you can handle the payments? What is this guy really really preaching? Be a serf all your life?

Re: Something Good on the Airways

Paradox of Thrift

 

was the term that Keynes coined to refer to what happened in the depression- as he said thrift was "a private virtue but a public vice."

 

What he was saying was that the economy was virtually immune to stimulus because individual behvior had changed.

 

Ramsey is onto a good and timely schtick and nothing wrong with that. But I just take a deep breath when I observe the shift in social mood which comes onstage right on script. The debt at all levels cannot be sustained by an economy that is going cold turkey on the heroin.

 

Probably can't be sustained otherwise, either but that is a different discussion.

Senior Advisor

Re: Something Good on the Airways

Don't confuse personal debt with business debt.  One should be prudent with either one. However, there is some justification for borrowing to grow a business while compulsive use of consumer debt may be addictive in that one is using consumer debt to live a standard of living one cannot afford.

 

Hopefully, the business debt will pay dividends that will retire the debt. Consumer debt for the most part does not yield any dividends.

Veteran Advisor

Re: Something Good on the Airways

Glad to hear that so many have listened to this guy, and related to his message. One of the quips that struck my in the right way was that "the status symbol of today is to have a paid off home...this is like a BMW sitting in the driveway used to be, as a symbol of success".

 

Wish we could have a "paid off" country, too. And not in the sense that all of our elected officials are subject to graft and corruption.

 

What does Christianity have to do with any of this message? Maybe nothing, except that it seems to resonate with devout Christians that you do live your life responsibly and looking down the road. Maybe this is a paradox, since Jesus told the story of the birds in the air never worrying about their meals. I think it is part of a responsible life style choice to worry, and to provide.

Senior Contributor

Re: Something Good on the Airways

This talking head has never built and tried to grow a farming business. Maybe never built any kind of business. Prolly had it all give to him with a silver spoon in his mouth.

I am not impressed with such radio yappers. Waste of good oxygen..

Re: Something Good on the Airways

John Wesley's economic principles are similar- there are some limitations but you have to understand they were written before Wealth of Nations.

 

Macaulay wrote that Wesley saved Britain from herself.

 

fwiw, h