Ramsey debt viewpoint explained

[SAJ-99]

Which makes things different for people getting a 7% mortgage today. For them it might make most sense to get that mortgage paid off ASAP.

And hence why our housing market is a train wreck. Low mortgage-rate holders are locked in. Great for them, bad for new buyers. Owners are not upsizing, boomers with a paid-off house are as firmly rooted in that house the trees in the front yard.

Having the cash flow from not paying on a mortgage is even better.

I have done both too, so I get the mental aspect of it. But the math is the math. That "extra cash flow" is not valuable if you are following Ramsey. Extra cash flow saved is the same as the net value (value - mtg) of your house increasing by the principal amount each month as you reduce the mortgage. It also prevents you from spending it, ie. forced savings. In the end, in the world today, not having debt is practically impossible. The way to get "comfortable" (hate the words rich or wealthy) is to borrow cheaply and invest wisely.

It's still dick measuring since everyone's piece of mind has a different price tag.

Ramsey will be adding a "financial dick-measuring" program to his website soon. He sells everything else.

 

[Nick87]

Im

And hence why our housing market is a train wreck. Low mortgage-rate holders are locked in. Great for them, bad for new buyers. Owners are not upsizing, boomers with a paid-off house are as firmly rooted in that house the trees in the front yard.


I have done both too, so I get the mental aspect of it. But the math is the math. That "extra cash flow" is not valuable if you are following Ramsey. Extra cash flow saved is the same as the net value (value - mtg) of your house increasing by the principal amount each month as you reduce the mortgage. It also prevents you from spending it, ie. forced savings. In the end, in the world today, not having debt is practically impossible. The way to get "comfortable" (hate the words rich or wealthy) is to borrow cheaply and invest wisely.


Ramsey will be adding a "financial dick-measuring" program to his website soon. He sells everything else.

View attachment 312916

I'm not sure I'd mix dick measuring and kids games unless you want to meet Chris Hansen.

 

[VikingsGuy]

Scary part about that is regardless, what someone is peddling on youtube or whatever no matter how wrong they may be someone is going to take there advice whether it's ten or 10,000 people.

Hunttalk influencers, however, should always be listened to.

 

[cgasner1]

Im
I'm not sure I'd mix dick measuring and kids games unless you want to meet Chris Hansen.

Or Jared from subway

 

[TOGIE]

And like has also been said, some will lose instead of "winning" and that is the difference between having a d*ck to measure and being d*ckless. And no one size fits all is exactly the point of those of us who question youtube influecers tendency to sell the "only way".

See I view this as the very essence of the dick meauring i refer to.

Losing by who's standards?

losing here is pretty subjective and if we’re gonna consider the Christian ethos we’re overlooking the incredibly important concept of contentment. And if we’re honest what the Bible really teaches about money is that is that its powers as an idol are about seductive as they come. That leads to the dick measuring of how smart we all are and how the Ramsey sheeple need to wake up because those that don't follow ramsey are therefore smarter, able to have more money, make more money, get more education, or whatever crap people use to feel superior and smarter and stroke that ego that is fed by money and everything else.

At the end of the day Ramsey preaches rather sound personal finance from everything i've seen/heard thus far - and i've never read his books or attended his seminars; i honestly dont' even subscibe to or share some of his beliefs on money that i've heard. But it seems that just like the fad diets you spoke of people cherry pick a few things he has a contentious opinion on and decide to throw out the baby with the bath water. and it all carries such a pretentious air of superiority.

i have a feeling some of the loudest, most ardent, anti ramsey voices have really never even heard his opinions beyond sound bites or second hand; that includes me, but most of what i've heard and have seen on youtube seems like some pretty basic and sound financial management and a lot of hard truths that many people need to hear.

 

[np307]

See I view this as the very essence of the dick meauring i refer to.

Losing by who's standards?

losing here is pretty subjective and if we’re gonna consider the Christian ethos we’re overlooking the incredibly important concept of contentment. And if we’re honest what the Bible really teaches about money is that is that its powers as an idol are about seductive as they come. That leads to the dick measuring of how smart we all are and how the Ramsey sheeple need to wake up because those that don't follow ramsey are therefore smarter, able to have more money, make more money, get more education, or whatever crap people use to feel superior and smarter and stroke that ego that is fed by money and everything else.

At the end of the day Ramsey preaches rather sound personal finance from everything i've seen/heard thus far - and i've never read his books or attended his seminars; i honestly dont' even subscibe to or share some of his beliefs on money that i've heard. But it seems that just like the fad diets you spoke of people cherry pick a few things he has a contentious opinion on and decide to throw out the baby with the bath water. and it all carries such a pretentious air of superiority.

i have a feeling some of the loudest, most ardent, anti ramsey voices have really never even heard his opinions beyond sound bites or second hand; that includes me, but most of what i've heard and have seen on youtube seems like some pretty basic and sound financial management and a lot of hard truths that many people need to hear.

I've read some of his stuff and listened to a fair bit of his advice. I also know several people who parrot everything he says. There is easily as much of a "pretentious air of superiority" from hard-core Ramsey followers as from anti-Ramsey people.

 

[BigHornRam]

Maybe the US should take debt serious?

JPMorgan CEO Jamie Dimon warns US driving toward a cliff as debt snowballs

JPMorgan Chase CEO Jamie Dimon warned Friday that America is headed toward a cliff with its soaring debt, saying it must be addressed before it causes a crisis.

www.foxbusiness.com

"Dimon began his response by recalling how the economy looked back in 1982, with inflation around 12%, the prime rate around 21.5% and unemployment somewhere around 10%, and the debt was around 35% of gross domestic product. He noted that today, the debt-to-GDP ratio is above 100%, and said it is projected to reach 130% by 2035."

 

[Steiny77]

And hence why our housing market is a train wreck. Low mortgage-rate holders are locked in. Great for them, bad for new buyers. Owners are not upsizing, boomers with a paid-off house are as firmly rooted in that house the trees in the front yard.

Go back in history a little bit and todays interest rates are nothing out of the ordinary. We paid 9.9% for a mortgage in 1990.
The low +/- 3% rates for several years were unusual.

 

[Nick87]

Go back in history a little bit and todays interest rates are nothing out of the ordinary. We paid 9.9% for a mortgage in 1990.
The low +/- 3% rates for several years were unusual.

And that's why nobody is selling, don't what to give up their OIL rate.

 

[VikingsGuy]

Maybe the US should take debt serious?

JPMorgan CEO Jamie Dimon warns US driving toward a cliff as debt snowballs

JPMorgan Chase CEO Jamie Dimon warned Friday that America is headed toward a cliff with its soaring debt, saying it must be addressed before it causes a crisis.

www.foxbusiness.com

"Dimon began his response by recalling how the economy looked back in 1982, with inflation around 12%, the prime rate around 21.5% and unemployment somewhere around 10%, and the debt was around 35% of gross domestic product. He noted that today, the debt-to-GDP ratio is above 100%, and said it is projected to reach 130% by 2035."

Before you get too nostalgic, that low debt ratio was driven by high individual tax rates.

 

[BigHornRam]

Before you get too nostalgic, that low debt ratio was driven by high individual tax rates.

High tax rates with a ton of loopholes and exemtions that where used to limit.

 

[cgasner1]

And that's why nobody is selling, don't what to give up their OIL rate.

What’s crazy to me is the rental air bnb thing. My groundman is renting an apartment right now for 60 bucks less than the mortgage on my house.

 

[Nick87]

What’s crazy to me is the rental air bnb thing. My groundman is renting an apartment right now for 60 bucks less than the mortgage on my house.

Yah that too.

 

[BigHornRam]

Actually inventory is trending up.

 

[Nick87]

Yah that too.

Talked to a guy the other day who rents $1800 a month for his apartment. He was talking how good of a deal it was since they had a gym amd everything at the complex.

 

[220yotekiller]

Getting a mortgage with no credit isn’t difficult with a strong down payment (bad credit is another issue) but you can’t go to one of the big commercial banks. It requires manual underwriting (how loans used to be made, when they analyzed your whole situation and not just a number that is generated by debt). Mine was through a local credit union, Dave has a recommended mortgage company that specializes in it too.

We had to go through 3 banks to get the mortgage that we were able to get. We have never had a credit card, namely because yours truly would have driven us to the poor house if I had one. But it really wassn't a huge deal.

 

[Deleted member 28227]

Try flipping the ruler the other way to the mm side for greater satisfaction.

commie

 

[Nick87]

commie

I do everything in tenths.

 

[cgasner1]

commie

I was thinking it but if you’re gonna say it. I mean there is only 2 types of countries ones that use a metric system and ones that have won a world war

 

[VikingsGuy]

I was thinking it but if you’re gonna say it. I mean there is only 2 types of countries ones that use a metric system and ones that have won a world war

There are only 10 kinds of people in the world, those who understand binary and those who don't