How much money do you save a month and how to save money OTR

But many don't know how to achieve that without guidance.

 

I have only a general idea who this person is. I have heard the name and that is about all. However after reading your comment and noticing your use of several "buzz" words in your attempt to discredit him I am tempted to give him a listen. The hate and venom in that comment I can still see running off those words. Jeez

 

I agree and I also disagree. This is a way complicated issue to be trying to discuss in a truckers forum. I will repeat something I have said many times. Let "common sense" guide you.

 

The point he tries to make is; The credit reporting isn’t credit reporting. It’s credit manipulation. To them, to have good credit. You must have a home and car loan. And that’s all. All the time. It’s ridiculous. Because you don’t keep getting these loans over and over. You don’t have good credit.
Ever go without a car loan? I did with a good Toyota that lasted. Loved that vehicle. Saved me a ton of money. But the day came I needed to buy another. They said I had a problem with my credit. Hadn’t had a car loan. So I had to pay higher interest. Bunch of BS!

On eating. I found good food at Chinese buffets. Good price too. Saving money.

 

I have rented and driven a paid for car (I never finance) and had a credit score of 750. I have owned homes and been debt free and been over 800. The old wive's tale that you have to be in debt to have credit is just that.

 

I agree with you, you don't have to be in debt to have good credit. However, Dave Ramsey doesn't see it that way. He doesn't want people using credit at all. He has advised callers to pay off their debts using the "snowball" method in which you pay off small debts first. Ramsey has a lot of bravado about collection agencies. The first debts paid, should be those that are either heading towards default or in default--not the smallest amount.

 

I understand his thinking. He calls it "baby steps". He's trying to create a positive idea in your head about getting out of debt. Some get so overwhelmed they feel hopeless. By accomplishing even the smallest thing it helps. Knock of the easiest first, then the next.

 

Hate and venom are a little strong. Perhaps a bit too sarcastic. I understand Ramsey is a born again and so are the majority of his audience. His advice is actually pretty solid, and I'm with him 80% of the time on his financial advice. However, he absolutely is wrong about a couple of things (not keeping up a credit score being one big one). One of the best ways for people to go broke, is to get involved in multi-level marketing. Dave refuses to tell his audience to run away from these organizations, as they have an Evangelical Christian veneer to them. If you have ever spent time with someone involved with AmWay or a similar organization, you will know what I mean. One of the selling points of these organizations is that they are using their "business" as a way of promoting their personal "ministry".

 

The idea is that you still pay minimums on ALL debts, but your pay all extra money towards the smallest balance.

 

He doesn't want you getting further in debt. Also, many collection agencies will settle for far less owed. Now if your home is being foreclosed on you fix that, but anything else is just a liability and can be replaced.