Young people push back against Dave Ramsey advice

[PoetPhilosopher]

‘I’d rather be caffeinated than depressed with $6’: Young Americans are rejecting Dave Ramsey’s financial advice — here’s why they say they’re ‘not willing to do anything to get out of debt'

Beans and rice? No bueno.

finance.yahoo.com

I'm familiar with some of Dave Ramsey's advice, and I just thought it interesting that younger people are pushing back on some of his statements.

I might agree with a statement in the article (not by Dave Ramsey) - that the economy is to blame for a lot of woes, and not (necessarily) bad spending habits.

On the other hand, the statement by someone from the younger generation [in the article] that a $6 coffee will make one happier, doesn't really very much resonate with me either (personally).

I feel a lot of Dave Ramsey's advice can be pretty good, but that some of it quickly breaks down past surface level. As an example, one of Dave Ramsey's statements was that when focusing on getting rid of debt, one should eliminate the "smallest bills first" until all debt is gone.

 

[bobhikes]

‘I’d rather be caffeinated than depressed with $6’: Young Americans are rejecting Dave Ramsey’s financial advice — here’s why they say they’re ‘not willing to do anything to get out of debt'

Beans and rice? No bueno.

finance.yahoo.com

I'm familiar with some of Dave Ramsey's advice, and I just thought it interesting that younger people are pushing back on some of his statements.

I might agree with a statement in the article (not by Dave Ramsey) - that the economy is to blame for a lot of woes, and not (necessarily) bad spending habits.

On the other hand, the statement by someone from the younger generation [in the article] that a $6 coffee will make one happier, doesn't really very much resonate with me either (personally).

I feel a lot of Dave Ramsey's advice can be pretty good, but that some of it quickly breaks down past surface level. As an example, one of Dave Ramsey's statements was that when focusing on getting rid of debt, one should eliminate the "smallest bills first" until all debt it gone.

I don't agree whole heartly with the younger generation in the article but I'm closer to them then Dave Ramsey. I have tried to be financially stable my whole life but as I get close stuff happens. Just this year, January was a month of unexpected bills. February is a month of major sicknesses. Sometimes I just need a relaxing break and I will go to my favorite Cigar bar and blow 50 to 100 dollars, yes I feel a little guilty about doing it but my stress levels drop significantly for several days after. Stress will kill me faster then debt.

 

[Sand Dancer]

‘I’d rather be caffeinated than depressed with $6’: Young Americans are rejecting Dave Ramsey’s financial advice — here’s why they say they’re ‘not willing to do anything to get out of debt'

Beans and rice? No bueno.

finance.yahoo.com

As an example, one of Dave Ramsey's statements was that when focusing on getting rid of debt, one should eliminate the "smallest bills first" until all debt it gone.

I think it's that as one debt is eliminated, it motivates you to keep eliminating. IMO, it's smart.

 

[Quintessence]

I dunno who that guy is, but the current generation of college students putting an emphasis on self-care is a direct result of what they've been taught going through the system, so to speak. We talk about it all the time. We do at the university I work at, anyway, because mental health is the major challenge students face these days alongside financial health. The two are interconnected. But there's another sad factor to consider.

These kids were raised up in a heavily materialistic and consumeristic environment. They've more or less been brainwashed into being good little consumers to feed the capitalist machine. They reach for instant gratification instead of more frugal and sensible alternatives that would save them a lot of money and get them the same result because they're conditioned to look for the quick fix.

 

[Debater Slayer]

February is a month of major sicknesses.

Wishing good health for you and yours.

 

[lewisnotmiller]

I dunno who that guy is, but the current generation of college students putting an emphasis on self-care is a direct result of what they've been taught going through the system, so to speak. We talk about it all the time. We do at the university I work at, anyway, because mental health is the major challenge students face these days alongside financial health. The two are interconnected. But there's another sad factor to consider.

These kids were raised up in a heavily materialistic and consumeristic environment. They've more or less been brainwashed into being good little consumers to feed the capitalist machine. They reach for instant gratification instead of more frugal and sensible alternatives that would save them a lot of money and get them the same result because they're conditioned to look for the quick fix.

I think this is a valuable point. An emphasis on self care is a good thing. Material consumption and the quick hit it provides is not tied to this in the way some seem to assume.