I am former Dave Ramsey enthusiast. I fell in love with his plan, or what he calls his “baby steps” towards financial wellness. They’re sound, they work, and they make sense. I’ve read all the books and previously listened to his radio show devotedly.
Even before is February 11th Fox News interview, I recently developed some serious resentment towards him.
Just like an Instagram influencer tells you his or her workout plan will be life-changing, Ramsey tells you his baby steps will do the same. He insinuates his baby steps will fix your marriage and the whole shebang. Speaking from personal experience, it does not work that way.
He invites people on his show to do their “debt free scream.” Most of the time when there is a married couple doing the scream, they rave about how working through the baby steps made their marriage so much stronger.
The irony here is how many times he says on his show “money is always the product of another problem, not THE problem.”
This brings me to the Fox News interview.
Ramsey has so many great principals. However, his fatal flaw that keeps so many people from listening to what he has to say is his habit of overgeneralizing.
In his Fox interview, he says another round stimulus checks won’t fix our economy (well, I think everyone can agree here), but then, as usual, he goes on like he does to most of the people that call his radio show:
He explains that if $600 changes your life, you’re screwed anyway. He says that you either have a career problem, relationship problem, debt problem, mental health problem, or something of the sort. He says things like this on his show all the time. He blames people for being in tight spots, no matter how they ended up there.
I’m a Republican. I work for a conservative think tank. I’m not even sure how I feel about another round of stimulus checks. What I do feel strongly about is someone who is one of the most influential finance personalities in the country saying you’re “screwed” if $600 is a big deal to you.
There’s plenty of times $600 was life changing for me. It didn’t mean I was bad with money. It was my life’s circumstances in that moment. Just to name a few:
- Being broke in college, while working FIVE jobs.
- Being a newly single mom with legal fees and medical bills stacked to the kitchen ceiling.
There are many people in the country that have been traumatically impacted by the pandemic. Small businesses are struggling, restaurants are struggling, personal trainers don’t have gyms to train at, plant workers are getting laid off right after being hired … the list goes on.
Ramsey’s insensitive comment has me officially jumping off the Dave train. Here is a list of some of the financial resources I’ve been diving into instead:
- David Bach
- Clever Girl Finance
- The Financial Diet
- The Finance Twins
- The Finance Bar
- Boss of My Money
- The Wealth Wale