Money Talk, Bad credit & being on the road

Except no he's not wrong, and yes it is god advise.

Once you achieve 100% financial freedom, your credit score and access to credit may not matter. Until that point, it does.

Ramsey says "rent a home until you can buy outright". Try getting a reasonable rental with bad credit. Repairing/building credit will make it easier to rent, and eventually buy a house.

Ramesy says "you can't control spending when you use a credit card". That is like saying you can't control how much you eat when you go to a buffet. If a person acts responsibly, then it is possible to use a credit card in the same way you use cash.

Ramsey says "using a debit card online is just as safe". Please, get serious.

There is a lot about Ramsey's program that makes sense, but complete avoidence of all debt and not caring about your credit score does not.

Is Dave Ramsey Wrong About Credit Cards? - The Simple Dollar

 

And he made those millions charging people with no money to tell them they had no money.

 

Now your wrong to.
He says he doesn't borrow money and he would/does pay cash for a house.
But also says that a mortgage with 20% down 15 year fixed is fine.

 

Actually he made millions telling people how to make changes that allow them to have a better life and not be broke.

 

I have a older tahoe that survived the Junkers for Cash run some years ago. It was a originally a 6 liter diesel truck converted with a third engine crate 350 dropped into it by the previous owner. Don't ask me what else they had to do to it. Im still finding out as I go...

Spent approximately 1400 this year on a variety of really cool stuff that was wrong with it. Oxygen sensors and coolant temperature sensor comes to mind. Computer requires those three inputs to come up with a fuel mix. She's running adequately now. But frankly it will be a while before it's doing well when I consider another 1500 to 2500 dollars to put into it in the years to come.

It is probably the last truck or vehicle of it's kind before too long, however in this area we are not a emissions or inspections state etc. So there are many tahoes and surburbans from that time period still running about. Partly because they are pretty easy to fix. Just have to have the money.

One of the best purchasing was a code reader able to capture live data from the vehicle in real time. So when she throws a code, I plug in and a mile later understand whatsdamatta and maybe have a workaround.

 

I had a driver get evicted last year (title dispute on the mobile home he owned). No credit. He had a NICE rental in a pretty nice neighborhood in four days. Some landlords use credit score as their gauge, some use it as one factor, others don't use it at all. But you are right, a poor credit score (and no credit score) does eliminate some rental opportunities. Making it sound like it's impossible to rent without a credit score is being dramatic.

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I've never heard him say that. The point Ramsey makes is that marketing research shows that the average size of the transaction goes up substantially when people pay with a credit card. Maybe you are the exception. I've learned over time that it's better to assume I'm NOT the special one to whom the rules don't apply.

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Ramsey is right IF YOU USE YOUR DEBIT CARD THROUGH THE VISA (or mastercard, discover or AMEX) SYSTEM. All the protections apply with respect to fraudulent use. The only difference is that you will have to wait until the credit card system refunds the money, which, I agree, can be a major concern depending on how close to the edge you live.

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I've never heard him say to NOT care about your credit score. He does make the point that if you have money, you don't need credit, and that you can go through the manual underwriting process to obtain a mortgage if you have no credit score. He advocates for either a zero score (no open accounts), or a high score, in the context of mortgage application.

Personally, I carry mostly cash and debit cards for my personal and business accounts. I do carry a credit card, primarily because I travel a good bit overseas, and I've had my debit cards shut off by the bank too many times. And yes, car rentals and such have occasionally frowned on debit cards. One time, the insurance option for the rental (international) was over $100 per day -- so I let the credit card cover that. They have their uses, but I think it is very wise to heed the research and use cash where practical. I know it has changed my spending habits, both personally and in the business.

 

He markets his "product" to low income, undereducated people, he's a modern day snake oil salesman.

 

Gotta click the expand button to see my story above. Forgot to add my age in there since that was part of your ? Im 47 be 48 in Feb. Anything I missed or you like to know let me know and Ill try to answer.

 

Wow sounds like you really stuck with it.And a supportive Wife to boot. I like the Tn idea. Great place to live IMO.Fathers side from Cookville/ Crossville area , can’t go wrong lots of good places to live in middle and east Tn