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Dave Ramsey is Wrong - Don't Blindly Follow if You're From The UK bsocially 4 Views • 3 years ago

Dave Ramsey is an American radio show host, author and businessman. If you’ve ever been on YouTube before and looked up anything remotely related to money, no doubt you have come across him. He has 1.4 million subscribers and is seen as a personal financial expert.

His advice is generally good and certainly entertaining. For those that have never seen it, it is essentially a radio show where financially inept people call up and get shouted at for running up huge amounts of unnecessary debt and in return he quickly tells them what they need to do to solve their money problems.

As one of the main guys in the personal finance space, Dave Ramsey has a lot of support but he also gets his fair share of criticism as does anyone who achieves success.

For anyone outside of the US, a major problem with YouTube and the Internet for that that matter is that much of the information that we are fed is based on a different market that is often unsuitable.

Here in the UK if you do a Google search or regularly watch your favourite money YouTube channels the information that is regularly served is US specific and so is either irrelevant for the UK market or worse extremely dangerous should you follow it.

This is really concerning, which is one of the reasons why we started our own YouTube channel.

In this video, we’re going to talk about some of the key areas where Dave Ramsey is potentially wrong from a UK perspective. Let’s check it out…

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T&Cs: These videos are provided for information and entertainment purposes only. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this video may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. - bsocially

Why I Don't Follow Dave Ramsey Anymore bsocially 4 Views • 3 years ago

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Videos mentioned: ?
?The Pros and Cons of Dave Ramsey: https://youtu.be/KFRJtFRKeIM
?How I Built 7 Streams of Income By Age 30 Making $10,000 a Month: https://youtu.be/f33VyJ0ukVI
?The Dave Ramsey Baby Steps VS The FIRE Community: https://youtu.be/9M81k7pp8-I
?Should You Invest or Pay Off Debt?: https://youtu.be/tcgw5BM_prA
?How To Increase Your Credit Score: https://youtu.be/uwewA69T6tc
?Why $1,000 Is NOT An Emergency Fund: https://youtu.be/BGsZf5ccjwg
? Our $20,000 Pay Cut... Preparing For A Financial Crisis: https://youtu.be/vL40jcQyABk

Why I Don't Follow Dave Ramsey Anymore
Today I'm sharing why I don't follow Dave Ramsey anymore....
I learned about Dave Ramsey about 5 years ago, it was actually an old mentor of mine that introduced me to him, she was moving and gave me her workbook and DVD series from YEARS prior.
At this time I was living paycheck to paycheck, most months I was in the red but I didn’t know how in the red I was because I wasn’t tracking my spending. My student loans were in default and I was just a mess financially. Most of my friends were doing really fun things, going out to eat a lot, camping, and Disney trips. I was embarrassed and tried to live that same lifestyle.
When I found Dave Ramsey, I went HARD. 100% all-in. He is the one that taught me how to budget, how to pay off debt and get right with my money.
Now that I am debt free I’ve learned how to manage our money and I’ve also learned other forms of budgeting and ways to build wealth.
Am I at the point of saying Cancel Dave Ramsey? We shall find out!
I followed Dave Ramsey for several years, I’ve been to his studio, I’ve met him twice but today we are talking about why I don’t follow Dave Ramsey anymore!

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DISCLOSURE: Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe.
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only. - bsocially

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