Is Dave Ramsey Wrong?

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**Disclaimer: neither this video, nor any content produced by Caleb Hammer should ever be considered investing advice or official financial advice. All content is made for entertainment and educational purposes**

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Let me start off by saying that I personally have nothing against Dave Ramsey.

I don’t judge people based on their financial viewpoint or personal politics. I judge people based on their everyday actions.

And let’s be honest, Dave Ramey has helped millions of people get ahold of their personal finances and get to a point where they can retire comfortably… which is not the average American story we hear about today.

I’ve had the same conversation with my friends who are into personal finance multiple times, and the concussion we always have is “Dave Ramsey is perfect for the average American, but not the rare few who are able to be disciplined with money and spend time daily care about finances.

But again, to be clear, what Dave Ramey is teaching is the perfect message and lesson for the average American.

Why is that?

Well, the average American has:

An average new car payment of $575 a month or an average used car payment of $397… both with a 70-month loan repayment… kill me now

An average credit debt of $6,194

An average monthly mortgage of $1,487

An average net worth of $121,760

All while 56% of Americans cannot afford a $1,000 emergency if one were to pop up right now.

All those terrifying statistics aside, Dave Ramsey and his team have led thousands of people to become millionaires by the time of retirement.

Simply put, even if you don’t agree with his politics or stances on everything, he has turned the lives of millions of people around… and that’s always something to celebrate.

But you saw the title of the video, you want me to get into the good stuff. What do I disagree with from a personal financial standpoint with Dave Ramsey?

1) Credit Cards

2) Paying off Student Loans Early

3) Leverage on Rental Properties.

So, I said it before and I’ll say it again… his financial advice works for the vast majority of Americans who are living pay check to pay check and can never seem to get out of consumer debt…

And I am not against his education or philosophy on that…

But if you are watching this video, you are likely in a place where you are in financial education or at least trying to become so, and maybe his one size fits all approach does not work for you, which is not a diss on Dave Ramsey in the slightest.

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