What does /pol/ think about Dave Ramsey??

What is the best bank to use?

>>134510169
Economics for retards. He's doing a great service though.

Only thing I learned from him out of highschool was have $1000 set aside for a rainy day and never get in debt. Pretty much common sense but he was super popular at my old church.

>Hi Dave what do I do?
>>Pay debt XD
>Thanks god bless u

>>134510711
I guess there's nothing wrong with getting people not to go into debt. Aside from that, his financial advice is pretty simple. Still he seems to be doing a lot of good.

>>134510587
FPBP. Ramsey is making a good career at the "I'm the Tony Robbins of Finances" schtick.

>>134510891
I wasn't bashing him, I just think if you have that mentality you'll probably know what to do from there.

>>134510169

I think he is subtley trying to free white christians from jewish usury.

>>134510711

It is common sense but the only reason his schtick even has resonance is because of all the debt social programming the jews do to society.

>>134510587

Find a good credit union.

>>134510169
Sounds like a logical plan. I have never had a credit card EVER. The only thing I have bought on credit in the last 20 years was my house. I don't plan on owning it for 30 years, and my payments are low due to large down pay....Somehow my home's value has gone up substantially in the last few years.

The idea is that there is nothing you need that is worth going into debt for. If I cannot afford something, I simply don't need it. I also have a very strong regimen for savings.

Get your paycheck. Pay your bills, than pay your savings. What you have left is "fun money", and at the end of the week there is very little of it....but if you can wrap your brain around the idea that you have money, you just don't spend it....and then it is perfect.

You watch your friends and family totally ruined by credit. You laugh because you may not have the nicest shit, but you can at least prove you actually own it.

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>>134510733
>Hi Dave, I'm calling for some advice. My wife and I are in a pickle and we want to know what we should do?
How old are you
>Well I'm 23 and she's 18
Okay
>Well, we have a lot of debt and we don't know what to do about it.
What kind of debt do you have?
>Well, I have a Truck and my wife has a nice SUV and we currently live in her parents basement.
What do you do for a living?
>I work at the chicken plant on the deboning line, and she stays at home with our 8 kids
How much do you make?
>I bring home about $20k and she makes about $3k babysitting
How much do you owe on your cars?
>I owe $60k on my truck and she has a 1984 Pontiac Fiero that will be paid off by the end of the year
You should sell your stupid fucking truck
>Thanks Dave!!!

>>134510974

Actually no, that's just the basics. Investing is a fucking landmine-infested jungle. Every mutual fund is basically scamming you on the fees and not offering significant returns -- that's why pension funds outperform them.

Every other caller is up to their asshole in student debt. It is insane to me how people just go into crazy debt for a college degree that is often worthless...

>>134510169
if he was smart he would be using credit cards with no fees and paying them off every month for cash back or other bonuses
treat it like a debit card and get 1-5% cash back on everything you purchase

>>134511354
He claims that there is too much risk involved with credit cards even if the balance is paid off in full each month. I guess the temptation he feels is too great for most folks and says never do it.

>>134510711
Fairly it reminds me of CS Lewis in Mere Christianity when he says usually the best teachers aren't teaching something new they're just reminding people of what's always worked.

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>>134510733

>>134511354
I have the CC for that and for Flex Spending. If we have some time off we go on a vacation, just wing it. I'll pick up a bunch of overtime next month and pay it off. The secret is not being a retard and actually doing the overtime to pay it off. Credit cards aren't necessarily bad, they're just bad when fools get a hold of them.

>>134511484
I guess that's the risk free way to do it if you're giving advice to retards with no self control

>>134511172
Mutual funds are retarded. Making $1000 over 3 years is fucking worthless and I'll never let my coworker convince me that they're good for retirement. I mean come the fuck on. You think that mutual fund app you use will be relevant in 30 years? Fuck you, Jake. You're stupid.

>>134511515
As much of Mere Christianity is sort of WW2 propaganda to keep the Brits from giving up hope, I should probably re-read it eventually.

>>134511685
>Mutual funds are retarded
Relative to what?

>>134511685
Trading stocks when you don't know what you're doing is stupid too. Hire a financial advisor to manage your investments. That's the smartest move I've ever had.

>>134512024
>Hire a financial advisor to manage your investments.
Don't mutual funds almost always outperform financial advisers over the long term?

>>134511103
Like fucking clockwork. I love my $2000 1994 Corolla that was my first car that I bought cash after working a full summer when I was 16. Fuck cars.

Hey /o/, my car has 3 bumper stickers that the California sun has completely burned of. Feeling triggered?

>>134512147
you got jewed for paying that much for a 1994 corolla.

Feeling triggered?

>>134511985
When you're using the app Betterment, started out with $1000, deposit $200 a month and have only $1000 gained after 3 years no including the $200 a month, you're fucking stupid. Jake, you're fucking stupid.

>>134512240
It was 2009 when I bought it, underage.

>>134512435
http://www.investopedia.com/terms/e/exponential-growth.asp

Don't blow it
Keep it simple
Count your money

>>134512133
I don't know, I'm not retired yet. My mutual funds have done pretty well by so has the market. Financial Advisors hedge your bets when the market tanks? IDK, I didn't have enough in savings to worry about in '08.
>>134512147
I have a ten year old Civic. I almost bought a fancy new car last year and realized how much money I was talking about at the dealership. Politely said goodbye. I'd imagine most people in my position would be tooling around town in a $60k money burner. The only thing I feel like I'm missing out on are power locks.

>>134512802
Essentially with a mutual fund, it shouldn't matter if the market tanks, that won't really damage your returns over the long term.

>>134511066
Credit cards are great if you pay your bill off at the end of the month. You get nice things like cash back or airplane rides.

>>134512802
Roll those old cars. They do the job as long as you change the oil and do tune ups. The modern car industry is such a fucking joke. Most car payments cost more than I pay for rent.

>>134513022
I always assumed that the 'uber' financial advisor types managed the mutual funds. I don't know. I'm kind of a retard when it comes to playing the market. I'm up 30% in my brokerage account, but I just bought mutual funds and the market has been good. I'm assuming they must have some value to convince people to pay them a 1% commission or whatever they charge.

>>134513171
Fuck, I live like 2 miles from work, so my 10 year old Honda only has 25k on it. I figure I'll drive that car until I die.

>>134513181
To an extent yes, but a mutual fund is not managed as intensively as other types of investments. Any single investment held within a mutual fund will only represent a very small percent of that overall fund. It effectively takes the average of all markets, so while there will be short term declines, the long term average is positive (or at least has been until now).

>>134510169
I listen to Dave Ramsey every night. He makes a lot of sense. The only thing I don't like about him is he's not a fan of silver or gold and puts too much faith in fiat currency. Other than that, he's /ourguy/
>don't give your hard earned dollars to the debt Jews
>save moment and be responsible
>have high morals and make white babies

This is a better /o/ and /biz/ thread than they can have. I hate you, /pol/.

>>134512133
Most investing advice is just memes. Many financial advisors just wind up selling people mutual funds. A good advisor can help protect wealth and formulate a strategy, but that's about it. It's very rare for a mutual fund to consistently do better than the market. Usually that just means the fund has gotten lucky. You can create your own mutual fund by picking 20 different random stocks and buying shares in each of them. With enough diversification, you avoid individual stock risk and are approximating market risk.

>>134511172
Ever heard of Vanguard Investors online? My Classic, Roth, and SEP IRAs are there. Very very low expense ratios, typ'lly 1/10 of industry average. John Bogle created the company. Index funds, baby...

>>134513378
I understand that, but doesn't the guy who manages the fund need to know his shit. I always looked at the fund ratings and assumed they were evaluating the person in charge of picking stocks for the mutual fund.

>>134513526
I hate that we will be pruned any minute now. /pol/ brings the best of everything together.

>>134513243
>2 miles from work

Buy a bike you lazy fuck

>>134513728
I live in the South. it's 100 with 100% humidity right now. I don't want to be drenched with sweat when I show up faggot. This isn't Portland.

>>134513667
No. /a/ and /k/ are the only good boards.

>>134512147

I only buy used cars, I use carcomplaints.com for research and its just been great.

>>134510169
There is nothing wrong with credit cards if you know how to manage them. I'm a college student and my credit card is invaluable. Just make sure to always pay as much as you possibly can each month and never less than two to three times the minimum repayment (depending on what your bank's minimum is).

Also don't be a fucking retard and rack up a ten thousand dollar revolving balance.

>>134514127
/a/ is awful and /k/ is well, it's /k/.

>>134512024
>>134512133

Financial advisors don't do much and charge you fees that sap your returns. Some financial advisors are fucking rip-off artists.

>>134514609
So what's the best choice, just buying mutual funds like I do now?

>>134513022

Fucking false. Mutual funds tank with the market. Depends on the fund you buy how much risk exposure you've taken on. You're thinking of a hedge fund, they hedge their bets, hence, hedge fund.

Late nineties/early 2000s proved mutual funds are just marketing junk with high fees and they don't do shit, they perform worse than a simple index fund almost always.

>>134513554

I will check it out.

>>134512147
>>134514129

Good on you. Never pay the automobile Jew.

>In Janus Venture mutual fund for over 10 years
>to date returns: less than inflation
What the fuck am I paying these people for?

>>134513430

I like how Dave dumbs it down for the white christians and but also celebrates them getting married and having white babies. I love when losers call in and he's just exasperated and trying to not show his contempt. "Well the main part of this equation is you need to increase your income ($25K) if you want to be able to retire at 50."

>>134511354
>get 1-5% cash back on everything you purchase
>if he was smart

Why do you think merchants put up with the bullshit fees visa charges them?.... Because you spend more with credit. Maybe you are not as smart as you think you are? Maybe you are who Dave is trying to reach?

>>134515428

Merchants just pass the cost of those fees onto the consumer. The cashback credit card holder is maybe breaking even in reality.

It's not his advice as much as it is the people that call him.
>Hi Dave, we're looking for advice.
>"How much do you and your wife make?"
>We make a combined income of 180k.

HOW FUCKING STUPID CAN YOU BE?

>>134514129
I'd consider buying a new car, but it would need to be like 10% of my yearly income. Fucking ridiculous how people buy new cars for MORE than their yearly income.

So until then I'll be like you and buy used, where I'm not afraid to work on it myself.

M U T U A L
U
T
U
A
L

F U N D S
U
N
D
S

>>134516830
Next time you're at a traffic light look around. It's amazing how many $50k+ cars you see. You know that all of those people aren't making $200k+, you know they aren't.
My favorite thing in the world is to sit a that light, in the shittiest car, knowing that I statistically make more than almost everyone there.

>>134516979
Old and used cars don't need to be shit tho.

>>134517108
I meant shittiest in the context of least flashy and expensive. I get what you mean though.

>>134517108
I'd still give my left nut for a left hand drive Ute though.

>>134510169
IF YOU CAN'T BUY IT YOU CAN'T AFFORD IT
I like him. Called in a few times way way way back when.

>>134517390
Don't forget to frame 'BUY' in the context of write a check, not look in to financing.

>>134517335
You and I both. Used utes (technically its a different thing here) are expensive tho so I've been looking for a while.

>>134517475
At least it's a thing there. Utes literally don't exist here. The "Pontiac GTO" (Holden Monaro) was the last Holden you could buy here. Long gone.

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>>134510587

USAA if you can get in. Otherwise, another credit union. Lots of good ones, but USAA is the best.

>>134516319

Yeah that one always infuriates me. I've lived off of 10k and people who make 18 times that can't get their shit together.

>>134517653
I hate to say it anon, but I really hate credit unions. Their website usually sucks, they never support Android Pay, they have very few branches, and they have a lot of strange rules. I actually use the brokerage that administers my 401(k) and retirement fund because they do everything they can to make up for a lack for physical branches.

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>>134517550
They might not exist here for much longer either because car manufacturing has completely ended here after 70 years. That's why I'm keen to get a used one before they all get thrashed and have 400k on the clock (most are already like that tho).

I don't see why utes couldn't become super popular in America, someone needs to introduce them.

>>134510169
Being scared of debt is stupid. When you swear of leverage, you leave all the advantage to the jews to make all the money meanwhile you barely scrape by.

Poor people take on debt when they are desperate, to make ends meat. Rich people take on debt to make more money.

don't ever be scared of taking on debt correctly. this is the only way you can make real money - leverage your debt into more gain.

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Dave Ramsey gets paid to give the exact same advice the morons who call him get from other people every day. They listen to him because he's famous and their pastor kisses his ass.

Every single call is
>Don't buy trucks and suv's - you can't afford them
>Credit cards aren't magic free money cards
>Live within your means

His advice is only profound if your IQ would be a nice room temperature.

>>134517888
Pontiac/GM was trying something with Holden right before the "financial meltdown" I even remember the rumors of a reintroduced El Camino (Our version of the Ute from the '70s). It would have happened if not for the GM bailout and reorganization. I want a car but I need a truck bed. I like an 8 Cylinder and a 6 speed. The Ute is my car. I think I must be the only one.
The El Camino is legendary, though, so there must be a target consumer here for the Ute.

>>134517936

They're saying to avoid CONSUMER debt like the plague. If you can't afford to pay cash you can't afford it.

You don't need the 100 inch flatscreen for 10000 dollars put on a 20% apr credit card when you're working at Taco Bell.

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Young anon here. (Just turned 20)
About to move out of my parents house.
You people here seem to know what your talking about. Do you have any advice for me?
Like how should I spend my money, live in an apartment, pay gas, work, get a girlfriend, etc.
Does anybody here have advice? Have the basics somewhat figured out but do you have any useful tips or things you regret not doing?
Help me out.

>>134518101
Luckily I'm a fry cook at Wendy's, have a 9 inch cock and make $35/hr.

>>134518184
Save every penny anon. Don't buy that fancy TV, don't waste your money on that Xbox. Honestly, I lived with my parents and saved enough money to make a down payment on my first house. Skipped the rent jew.

>>134518270
Is it a pain paying for the electricity, phone, etc bills?
How do you even sort that out?

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>>134512147
>tfw fell for the new car every year meme for a few years because my parents always did and I thought it was normal
I think back on how much I could save if I never did it and it's agony. At least I know now

>>134518184
>get a girlfriend
Don't do that till you are out of collage and have a job. Women suck money out of your pockets fester than the jews.

>>134518501
Are you trolling? Is this about the arrangement that I had when I lived with them as an adult?
I bought my own food and did my own thing, we'd have dinner a few nights a week, but when we went to restaurants I'd pay. They had a lot of property and I maintained it for them for free, bought the tools to do it, and left them with them when I bought my house.
Basically I'd take them out to dinner, buy my own smokes and booze, and keep their 5 acres nice for no charge. I'd say it was equivalent of rent, but it helped my Mom and Dad.
>>134518646
This guy knows the truth.

>>134518568
Were they at least cool cars?

>>134518748
I can tell you they weren't Utes!

>>134518688
That is not what I am asking at all. Now that you have your own house is it a pain to organize and pay the bills in your house while also maintaining a budget on how much you spend to eat, get gas, etc.
It seems complicated.

>>134518184
24anon reporting in. Get a credit card, pay it off every month. Only use it for regular expenses you can pay for with money you already have.
It's extremely difficult to find a place to live or get a loan if you don't have a credit score. Just don't go buying a bunch of shit you can't pay for. PAY IT OFF EVERY MONTH.

>>134518184
The key is to spend less than you make. Get a bank account and set up everyone on auto pay.

Work direct deposits. Every expense auto withdrawals.

Like clockwork.

>>134518938
Assuming you are paid twice a month, make sure your mortgage is die shortly after one pay period and the utilities are all paid out of the other check.

>>134510169
>dont get into debt
is too broad a statement, but I get that most retards wont be able to memorize a rule over 5 words. The real rule, which was common sense 20 years ago, is to not buy things that don't generate income on dept, for example dont go on vacation with your credit card (whcih surprisingly lots of people do now)

Some thing you CAN do on credit is buying a new car, IF you need a car to generate income, for example need it to drive to work, thats fine as long as you dont buy one above what you need to just go to work. its also fine if a new car will save you more in terms of fuel and repairs over your current one than the interest will be on the new one

I recently replaced my 40 year old fridge with a new one, and the money saved on electricity was more than the credit card payment was over the 6 months i payed it back.

The whole point of lending money is that money is taken from someone who has it and given to someone who can use it better, and in exchange they get a bit of the profit, theres nothing inherently bad about it.

>>134513147
Yeah I use my credit card like a debit card and get all sorts of freebies with no interest.

>>134519826
I'm impressed that your fridge lasted 40 years

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>>134510169
Some rich guy at my church payed for every bodies classes so I went for free around half a year ago. I would recommend it to most people considering they probably know as much as I know (nothing) about finance stuff

>>134510169
Nothing, never heard of him.