I do appreciate all the on-topic replies, and will use some of the
suggestions.

Y'all are a good bunch.

Pierre

Brent D. Gardner, ChFC wrote:

- quote -

"Nashville Pete" <poremski[at]comcast.net> wrote in message news:<jqGdnchCVLYgRzGiRVn-sw[at]comcast.com> ...
- quote -

I'll chime in here: Dave Ramsey is in the same genre as Chucky Givens,
Dacey, Quinn, Ormon...ALL are about 1% right and 99% urban legend,
mythology, misinformation, and downright lies.

They are great at self-promotion, but thoroughly UNDERwhelming when it
comes to giving good financial advice on ANY subject. Out of this
exremely poor bunch, Ramsey is near the bottom. Having listened to his
radio show and read his books, I cannot in good conscience recommend
him under any circumstance, except as a really mean, thoughtless, and
inconsiderate joke.

If you have cash on hand for emergencies, then pay off the car. When
the car is paid off, don't go buy another one right away, but keep
putting the payments into savings. This is how you can get into a
position to pay cash for cars and not overpay for a depreciating
asset.

1. Save up an emergency fund of 3 to 6 months living expenses
2. List all debts from smallest to largest.
3. Start paying off debts smallest first, snowballing payments smallest to
largest untill all debts are paid.
4 Stay debt free paying cash for used cars.
5. Save for retirement through matching 401k's 403b's and IRA's first to the
max. of matching if possible.
6. Save to purchase high ticket items i.e. new cars, etc. for cash.
7. Buy house on 15 year fixed mortgage and make every effort to prepay.

The book covers many other good things and provides explanation and
justification for the approach. I have followed his advice and have been
debt free for over 10 years and it has made a big difference in my financial
affairs, options, and flexibility. I don't agree in his investment asset mix
suggestions because he downplays the necessity for diversity by foreign
currency exposure.

"HW "Skip" Weldon" <skip5700removethis[at]hotmail.com> wrote in message
news:buppqv4n1u4qme5h8rvdvoe5sd0emlu5rq[at]4ax.com...
- quote -

"Nashville Pete" <poremski[at]comcast.net> wrote in message
news:jqGdnchCVLYgRzGiRVn-sw[at]comcast.com...
- quote -

You appear to be denigrating the original poster's ability to have a small
amount of discretionary income as if it were too small for anyone to bother
about. Why is a modest amount not worthy of discussion?

Elizabeth Richardson

In article <buppqv4n1u4qme5h8rvdvoe5sd0emlu5rq[at]4ax.com> , HW \"Skip\"
Weldon <skip5700removethis[at]hotmail.com> wrote:

- quote -

I listen to Dave Ramsey once in a while on Sirius satellite radio.
Since he is on at the same time as Coast to Coast AM on the XM
satellite, I only listen to Dave Ramsey when there is a Coast to
Coast that I don't like (I hate the ones on ghosts and spirits).

Dave Ramsey has a christian outlook on money, and follows rules of
money that he claims he finds in the bible. This includes paying
your bills and taking care of your family. His platform includes:

1) pay off all of your debt (other than your house)
2) once #1 is done, pay off your house and be totally debt free
3) if you are in money trouble, sell of the things that are costing
you money, like the expensive cars.
4) if you are in debt, pay off the smallest debt first (not the
highest interest rate). While this is not the best option from
a mathematical sense, it gives people quick and easy wins, and
the extra cashflow builds momenthum in paying off debt.
5) tithe 10%, or god will pay you back with financial troubles
6) no credit cards, of any kind, ever (but debit cards are OK)
7) once you are cash flow positive, then you can start buying
the luxuries, giving more to charity, and building your savings
8) keep your savings in safe investments, at least the core holdings

Most of the callers to the show are in very bad credit card bill
trouble. Most are beyond help, but Dave gives them advice on how
to attempt to get out of debt. He doesn't belive in bankruptcy,
and I have never heard him suggest that.

All in all, I really don't disagree with anything he says, other
than having to involve mythical invisible beings like gods.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ==================

On Sat, 8 Nov 2003 06:49:28 CST, "Nashville Pete"
<poremski[at]comcast.net> wrote:


- quote -

Since this is a discussion group, how about a paragraph or two on what
the author suggests?

-HW "Skip" Weldon
Columbia, SC

Did you mean $100? Or did you mean $1,000 or $10,000?

If you actually meant $100 than you need to buy the book "Financial Peace"
by Dave Ramsey. Read it and do what it says and you will start on a good
financial track. Come back in a couple of years.



"Pierre" <cowguy[at]NNOOSSPPAAMMnetscape.net> wrote in message
news:2OUqb.141994$e01.475371[at]attbi_s02...
- quote -

In article <2OUqb.141994$e01.475371[at]attbi_s02> , Pierre
<cowguy[at]NNOOSSPPAAMMnetscape.net> wrote:

- quote -

The key question is if there is any place that you can invest the
$100 a month in a place that gives you an after tax return of
4.99%? For most people, today, the answer is no. If you look
out a few years, you might be able to do that in the stock market.
But keep in mind that the market is risky, and you can lose your
money, but paying down the car loan is a garanteed investment.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ==================

Got a 10,800.00 balance on my auto loan. . .otherwise debt free.

Also, have an extra 100.00 to do whatever with.

The question is, should I pay down the auto loan which is a fixed 4.99%
APR with the extra hundred , or take that 100.00 and invest it.
Its a 1999 vehicle, and I'll keep it for 3-4 more years.

TIA for any thoughts.
Peter