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View Full Version : Do Financial Advisors follow Dave Ramsey principles with their clients?



ShannonS
06-12-2018, 05:56 AM
Hey all,
This is my first time on this site, so bare with me if I do something frowned upon.
I am attending a community college in the Fall for Finance to be a Financial Advisor.
My question is, are there any Financial Advisors here to verify whether Dave Ramsey principles are frowned upon in the college world, or if you as an Advisor have strayed away from his principles.
I want to get a full picture going in so I know that I'm not being mislead by a biased teacher who doesn't agree with his foundation.

Thank you

EvilGreebo
06-12-2018, 07:44 AM
Welcome, ShannonS. Good question. May I suggest that you go ahead and register (https://www.debtfreefanatics.com/register.php) for an account here, which will give you access to our full site. This is the visitor information forum which is intended to allow people to ask questions about registration and the site in general, and your question really deserves to be in a more active area. :)

Dorothy
06-12-2018, 08:41 AM
Welcome! I agree with registering so that you can see the rest of the content here.

in answer to your questions:
1) Some disagree with Dave's "debt snowball" because you actually can pay a little less interest by paying off the highest interest rate first. However, paying off debt in Dave's debt snowball order does an awesome job in helping a person stay motivated and making great progress. Debt will actually be paid off faster if you are motivated to keep killing the next debt.

2) There is always the argument that some debt is "good" - Dave and the majority of those who follow him disagree and like the reduced risk of no debt.

3) Some disagree with the "no credit card usage" that Dave promotes.

4) Finally, many disagree with Dave's investing philosophy.

Overall, Dave does an awesome job of keeping people motivated, helping them pay off debt, and getting them on a firm financial foundation.