Dave Ramsey on CNN

[cookmatthewr]

Anyone who needs Ramsey to tell them how to handle their finances are probably already pretty stupid.

[cheeriosinabowl]

Dave Ramsey and his ilk (aka financial gurus) like to complicate things and make us feel that we need them for advice. That's where and how they get rich, dear populace.

Keep your life simple. Keep the debt down, live simple, resist the urge to impulse buy. Not an easy fix to be disciplined, but (big) debt is immoralizing.

[MPaulHolmes]

@cheeriosinabowl haha, you have obviously never read his books. He keeps things very very very simple.

[MPaulHolmes]

@cheeriosinabowl The "steps" he says to use are: Make a budget. Save $1000 emergency fund. Debt snowball to pay off all debt. Save 15% for retirement. What's complicated about that?

[cheeriosinabowl]

@MPaulHolmes

... you basically just reiterated my post! LOL.

Btw, saving 15% for retirement is not an easy task for the average working stiff. High inflation, high taxes and zero pay raises see to that.

[MPaulHolmes]

@cheeriosinabowl It's a very very very easy task when you have only your mortgage. It happens after the debt is paid off. In my case, it took 18 months to get the debt paid off, and now 15% is trivial. I reiterated your post that you should keep it simple, but you also said that he likes to complicate things. That is just not true at all.

[ir10031981]

I want to do better than I deserve! just like Dave, I wish we could all be debt free America. I first listened to his radio show Friday July 3, 2009, the eve of 4th of July. I stumbled upon his show as I drove a rental car west on I-10 outside of Fort Stockton, Texas. Every time he says "talk radio that matters" I really take that message to heart. It really does matter. It's a show about my life and money, not about politics, not what goes on in the White House but at "my house".

[ir10031981]

I want to be debt free, including the house, but I don't want to go it alone, I want to do it like those families I see in the pictures of the Dave Ramsey books I read, Total Money Makeover and Financial Peace. When I'm debt free including the house, and in a highly committed relationship (children or no children) I make a promise and a vow to Mr. Ramsey that I will go to Brentwood, Tennessee and see him in person and celebrate. No matter where I live, I just want to be a success story.

[hotwirehenry]

hmmmm, so where do these non qualifiing folks go??? they can't rent because rent is just as high as housing. They can't buy cuz they dont qualify even tho they work hard, probly much harder than you do. Having creative mortgage financing handled by congress is utter corruption and criminal. Does anyone understand that housing costs are easily 3 times what it should be??? Having a secure decent residence is not a right, it just makes really good citizens out of people that are willing to work.

[sferris33]

The first two speakers, one being Dave Ramsey, make total sense that these people should not have qualified for loans that they got. And now we have a mess that all of the American people have to accept and hopefully not repeat this awful mistake again.

[AssemblyMass]

Dave Ramsey spewing surface drivel once again. He doesn't know the inside of his own asshole, where his heads been for a loooong time, save the true workings of the economy, capitalism etc... and its all masked at the top of his pyramid under charity. A few obvious ideas and a shit ton of conservative antiquated bullshit to boot.

[VetteKiller2002]

whats best is the commercials on the radio " Did the bank put you in a mortgage you cant afford?" hell no ! you did when your fat fingers signed the note with your skinny wallet ! People better start saving, all this mess is fixin to tumble down like a one wing airplane!

[MetalEvangelion777]

Hey!Kim Kiosaki! Robert&Kim are awesome.Saw them speak in '08.Robert said 3 most dangeous words ever are FRB-Federal Reserve Bank!Not even a branch of the Federal Government.We need to cut them off! 7 TRILLION "Mysteriously dissapears" &they've never been audited once in their existence!Cut 'em off,cut off any&all foreign dependances,slowly pay them back,drill in Alaska,so if there's a spill it'll freeze&let's be a self-producing/manufacturing country so we save money&create jobs here at home!

[tttdub]

Wow! Individual's were responsible to "some" degree. why just some? What the heck. CNN is filled with morons!

[FairTaxfan2009]

CNN is Corrupt News Network.

[ABWorsham4]

CNN is a joke.

[98ZJKE28]

CNN demonstrates its biased liberal hate poking blame game corrupt views every time I see it. UGHH......

Btw.....Ramsey you are the man!

[PrincessAnnaliese1]

HAHAHAHAHAHAHAHAHAHAHA!!!! I LOVE how CNN puts things. "How much blame can we put on the president?" WTF? These were people buying on credit and getting approved for loans from PRIVATE COMPANIES. The last time I checked, the PRESIDENT does not control what private companies do. Oh WAIT...can anyone say "Obama Bailouts?"

[herbs814]

It is not true that there were inadequate regulations. There were excessive regulations requiring lenders to lend to poorly qualifying borrowers. Carter's Community Reinvestment Act, exacerbated by Clinton's regulatory changes, enforced by ACORN and (private citizen) Obama, demonizing and suing banks for not making enough risky loans, and excused by Democrats' refusal to investigate Fannie and Freddie's cooked books.

[douiopl]

Man Dave should run 4 prestdent

[herbs814]

Dave's too honest to win a presidential election.

[lacon007]

I'd like to slap this guy with an open palm repeatedly for calling Peter Schiff an idiot. Schiff has been correctly predicting trends for years, and this a-hole has the nerve to shit talk him for saying we would have a crash in 08. This guy is NOT a financial guru. He clearly doesn't even understand basic economics.

[Denvernate]

just to clarify, how many millions do you have, because dave is a millionaire many times over......

[mvfmusic1]

Yep he's making millions because people for some reason need someone to say "hey don't buy so much shit!" He just puts it in a few books that basically say pay off your credit cards people. Damn I wish I would have thought of doing that. Haha it's like telling an alcoholic, hey pay 100 dollars and follow my program and you won't be an alcoholic. For that 100 dollars I will tell you for 12 hours not to buy what you don't need and then pay off your credit card and pay your bills. Awesome!

[frackle123]

Funny you mention alcoholics. We're talking about a paradigmatic shift in peoples perception of spending and debt. Dave's books are, in a sense, like the big book alcoholics use to keep them focused and on the right path.

Ive learned in my time that most people have problems, addictions or compulsions that interfere with their life in some form or fashion. Only a few strive to genuinely abate them.

Dave deserves his millions by reducing the defunct mortgages my taxes will pay for.

[mdr45325]

@frackle123 Yeah! Then we could go back to the cowboy days. He should stick to running his own business. Let Barack get things back in shape like the Democrats have to do every time the republicans leave office. By the way, why don't the republicans ever change the laws on abortion when they are in control of congress? They sure talk about it when running for office, don't they? They need "abortion" so they can get votes. That's all.

[frackle123]

@mdr45325 Democrats fix Republicans mess BUWAHAHAHAHHAHAHAHA!

Enjoy the kool-aid.

Both parties suck.

[crodgers100]

@frackle123 I totally agree,they're flipsides of the same coin. If the two parties ever came together for the common good they could do great things but they're too busy trying to get re-elected and make political pundints rich. They truely believe in their own greatness. Give me a break!

[AssemblyMass]

@frackle123 Using the notion of 'kool-aid' is the first sip of 'kool aid' itself. And of course, since both parties suck, there is probably one utopian essential party that could fix it all which stands for original american values right? hahaha. And capitalism has nothing to do with it? hahaha.

[dthompson214]

No, it didn't happen during the Bush admin, it happened during the Clinton admin. That is when my wife and I were buying a house and the mortgage company kept making up income that didn't exist under Fannie Mae. We didn't fall for it thankfully. It just took 10 years for it to come to a head. Look, I am no Bush fan, I am conservative, but let's place the blame where it belongs. This albatros was born in 1998 and died in 2008.

[tueulator]

Thanks for the summery Dave!!!!

Nice Job!!

[Rekcin]

So, let's see, did Bush go out and say hey let's start giving people loans who can't even make their rent payments? I don't think so. This is completely the mortgage industry's fault. And it's the people's fault. Listen closely people! IF YOU CAN'T AFFORD IT DON'T TRY TO BUY IT! It's not the government's job to babysit everybody. And I HATE that my tax dollars are going to bail out these idiots! It's just crazy. People have GOT to learn to save monay again! Listen to Dave Ramsey he knows! UGHHH!

[julianlile]

Totally agreed! We shouldn't have to pay for peoples stupidity!

[pztvleeir8]

Don't forget about most of the libs and some reps saying that it is everyone's right to own a home; therefore, pushing lenders to loosen constraints. There were flaws at all levels, but mostly at the douche bag level for not figuring out if a home is more than what you can afford.

[Paladin1warrior]

@Rekcin Actually sub-prime was a socialist move first under Bill Clinton's administration. THen socialist conservatives like Bush let it go on to try and encourage poor deadbeats to be more responsible. Obama supported this until it colapsed. Now he is still supporting it by throwing money at the collapse of it.

[Brainwave68]

What ever happened to taking responsibility for your own actions? When did that disappear?

[jesuslover037]

Not enough regulations? Ridiculous. That's not the problem here. The problem was the federal reserve acting like idiots by keeping interest rates at ridiculous levels for so many years.

[mrblujet]

Larry King was hell-bent to blame Bush. Love Bush or hate him, no one can place complete blame for the mortage crisis on him.

Maybe someone forgot to change Larry King's diaper!

[bo2403]

Actually I believe that The JR Senator from Illinois and Tony Rescoe are to blame.

[ChaseGustafson]

Yea, President Bush twisted your arm personally to go to a junk lender and get into an adjustable subprime loan. Again, welcome to the McDonalds society, I want it fast and now, no patience or maturity.

[dlatreset]

Patience or maturity? What I heard them say was that these people didn't qualify to rent, and they shouldn't have qualified to buy. What options do they have?

[ChaseGustafson]

Theres almost alway a place to rent, assistance or help out there that doesnt involve horible loans.

[dlatreset]

Not necessarily. These people aren't destitutue -- just not creditworthy. It's kind of a shame that everything in our society revolves around how you manage debt. It's one thing to be denied a credit card because of your credit. It's another thing to not be able to find housing. That's not a luxury. Many people sucked in by these predatory loans simply did not have any other option. It's a sad thing that these corporations are laying in wait to take advantage of people like that.

[ChaseGustafson]

I couldnt agree with you more on the predatory lenders part, its pretty evil and if the government bails out the institutions that have these loans in part or full, thats a moral shame. These companies needs to be accountable.

[wrn1979]

Typical Larry King and CNN Democratic BS. Trying to push the panelist into saying President Bush is responsible. Heaven forbid the losers that took out the subprime mortgages and the predatory snakes that sold them have to take responsibility for their own actions.

[DrumKey38]

Yep!