Dave Ramsey 101
- Born September 3, 1960
- Host of The Ramsey Show, The Second-Largest Talk Radio Show in America
- Eight-Time National Best Selling Author
- Motivational Speaker and Respected Teacher... you get the idea.
He gained national notoriety for his straightforward, practical advice on budgeting, saving, investing, and getting out of debt. Dave's approach to financial freedom emphasizes living within one's means, avoiding debt, and building wealth through disciplined saving and investing.
His radio show reaches millions of listeners worldwide, offering guidance on achieving financial independence and security. Through his books, podcasts, live events, and various resources, Dave Ramsey has inspired countless individuals and families to take control of their finances and pursue a path to financial peace.
That's What She Said
"My husband and I are following your plan, and we’re on Baby Step 2. We just learned that the person who has done our taxes for the last three years made mistakes on all our returns. They were really nice and did our taxes for free, but now we owe back taxes in the amount of $18,000. Since we’re still paying off debt, the only savings we have is the $1,000 in our beginner emergency fund. Should we take out a personal loan to take care of this, or set up payments with the IRS? - Laura"
If you have consumed Dave Ramsey's content at all, you've probably heard him use certain phrases over and over until they are permanently ingrained into your brain. That is his goal. What may come off as mean or non-caring is indeed the opposite. The guy really wants to help people.
A few of his famous statements are, "If you will live like no one else, later you can live like no one else." "Credit is an 'I love debt' score." "Those who don't manage their money will always work for those who do" and "A budget is telling your money where to go instead of wondering where it went."
That's What He Said
Although Dave sometimes takes criticism for sticking to his financial guns, his response to Laura left some surprised. He said "Take out a personal loan. Period. Let this sink in for a minute. How often does Dave Ramsey tell people to borrow money? Almost never. 
Why am I doing it now, in this situation? Because the IRS is the worst creditor on the planet. They have almost unlimited power, which they use and abuse, and they have ridiculously high penalties and interest rates. With a personal loan from a local bank or credit union, you’ll at least have more input and flexibility in deciding the terms of the agreement."
That makes so much sense, and proves that Dave is both resolute to his financial philosophy and has real world flexibility. After giving specific steps to help her, he went on to say, "I hate debt, Laura, and I’m sorry you guys are in this situation. But 100% of the time, I’d rather have personal loan debt than IRS debt. In my mind, it’s the lesser of two evils."
The Takeaway
Although a little surprising to some, Dave Ramsey once again showed his compassion and ability to help people in a tough situations.
QUESTION
What would you have done if you were in Laura's position?
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