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If you're having money trouble ...

Discussion in 'Anything goes' started by HejiraHenry, Jun 1, 2007.

  1. HejiraHenry

    HejiraHenry Well-Known Member

    ... I always would recommend taking a look at Dave Ramsey.

    The Nashville Scene gives a pretty good snapshot:

  2. Freelance Hack

    Freelance Hack Active Member

    This is one man who became insanely rich by preaching common sense. He just added a little faith to it and now his grandkids' heirs probably won't have to worry about their finances.
  3. funky_mountain

    funky_mountain Active Member

    i like dave's advice and used to listen regularly. after you listen for a while, you get the message: don't buy on credit (except for the house), pay off your debts, build an emergency fund of 3-6 months living expenses, contribute 15% to your 401k and then get into mutual funds.

    a lot of it is common sense, and for the most part, he does not go overboard with his message of faith. it's really about living within your means though he can be a bit militant about it.
  4. three_bags_full

    three_bags_full Well-Known Member

  5. funky_mountain

    funky_mountain Active Member

    oh, and another reason i don't listen so much anymore is that are way too many people with sad financial tales, and it gets depressing.
  6. three_bags_full

    three_bags_full Well-Known Member

    But that's part of the reason for listening. "Hey, I'm not doing so bad, after all."
  7. Born to Run

    Born to Run Member

    There's almost nothing in Ramsey's lessons that couldn't be described as "common sense" methodology, but that doesn't make it less worthwhile.
    One thing he pitches that only made sense after I thought about it: Pay off your smaller debts first, not necessarily your high-interest rate ones. Then apply your extra payments to the larger debts.

    I also recommend David Bach's "Automatic Millionaire" if only because it shows up how much cutting a few dollars here and there can add up in the long haul.
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