Financial guru Dave Ramsey says debt is the reason for low financial literacy

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  • luv2organize Gainesville, VA
    May 12, 2012 4:20 p.m.

    Dave Ramsey says it like it is! The LDS church teaches to stay out of debt but what I like about Dave's advice is that he has specific steps to follow for long term financial peace. I think most people could benefit from learning his program. It changed my life.

  • cjb Bountiful, UT
    May 12, 2012 11:06 a.m.

    Everything Dava Ramsey preaches I know instinctively since I was young. I guess it was a gift. I've always lived on less than I made and saved or invested the rest.

    Its 'common' sense that if you get into debt now, for things that are consumed now, such as going out to eat or for vacation, quality of life in the future will be degraded. I've seen people so far in debt they don't have any disgressionary spending. Often they don't have money to make a payment and their credit gets hurt, so when they need to use credit for something legitimate they can't or can only at a higher interest rate.

    Dave Ramsen didn't instinctively know how bad debt was, he had to learn the hard way. He went through a bankrupsy. Now he makes it his life's mission to help people avoide and recover from what he went through. My hat is off to him.

  • Riverton Cougar Riverton, UT
    May 11, 2012 5:45 p.m.

    Isn't low financial literacy the reason for debt? I suppose it could go both ways.

  • Jeanie b. Orem, UT
    May 11, 2012 4:10 p.m.

    I hope it was a wake up call for most people. It most certainly was not for Wall Street or the Big banks thanks to our paying the bill for their foolishness - for generations.