I don’t normally cover financial advice, but I wanted to pass along a tidbit I recently came across. A lot of people are big fans of Dave Ramsey. He has a strong personality, and a lot of people like listening to that sort of person. I think that explains his popularity more than anything – kind of a Rush Limbaugh for personal finances.
I don’t listen to his show, but I have met people who do and are big fans. One thing that has always troubled me is: here is a multimillionaire who sells expensive “get out of debt” materials to those who are in the greatest financial need. On top of that, he claims to be a Christian. I guess he never read the part of the Bible where it condemns those who profit by taking advantage of the poor. He could give the basic materials away for free and still be quite rich, but he doesn’t. He prefers to profit off the backs of the poor and needy.
Evidently, I am not only alone in this opinion. Gary North has recently published a scathing piece on this man and his financial advice. It is called How Dave Ramsey … Read the rest