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Dave Ramsey

March 20th, 2007 at 11:45 pm

I've started listening to his show on XM. I don't always agree with what he says, but its definately interesting. He also offers the shows online for free. If anyone's interested, just go to this website for the links.

Today was interesting, he had this one guy who was up to his eyeballs in personal AND business debt and the guy was talking about after he sells some assets, he'll owe about 200k to business vendors and about 200k to family. The man clearly stated that the family is going to need the money back relatively soon, but Dave tells him don't worry about them. They'll get paid when he's ready to get paid. Let them wait.

I dont' agree with that. Obviously, the family shouldn't have lent money they can't afford to lose, but these people are in need of some of the money and he should make it a priority. Because he told them he would. And now Dave's telling him to tell them to wait.

I feel bad for both parties here. The man is lying to family and his wife about the situation and if he isn't going to honor his family loans in a timely manner, their relationship is only going to get worse.

My sister is bad with money and I worry about my parents situation. IF it comes to having to lend them money... its only going to be what I can afford as a gift. If I get the money back, thats great, but if not, I haven't put myself into any financial stress.

4 Responses to “Dave Ramsey”

  1. Amber Says:
    1174437065

    I agree I think you should make an effort to pay every one back including your family. And your are right you should lend money only that you can afford to loose

  2. YOUCANDOIT Says:
    1174444383

    Family loans should be first and foremost and should be paid back with interest. Whatever that person could have gotten if they had not lent you the money.
    I think just giving money to someone only enhances the other persons financial problems by giving them a crutch they will never learn how to manage money.

  3. baselle Says:
    1174448092

    There's so much we don't know here. "Business vendors" covers a lot of ground.

    If its a choice between family and the guy who will break your kneecaps, well, guy with broken kneecaps isn't going to help the family any.

    I agree that family should be paid, but which members and how much? Its a timing/family politics issue.

  4. HouseHopeful Says:
    1174505950

    Basalle, I"m definately not saying pay the family first & forget the vendors, but the guy should be working out payment plans with all parties, not just ignoring the family for the sake of the business vendors. Unfortunately, it sounds like the guy isn't going to be able to pay everyone though.

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