Dave Ramsey fans, which book...........

I can't say I'd recommend any of his books. Contrary to what he teaches, she needs to BUILD credit in order to purchase a home some day.

 

Grasshopper,

I've read a couple of Dave Ramsey's books. I just recently read a book by David Bach called "The Automatic Millionaire". In fact, I started a thread on it here.

Though I learned a lot from Dave Ramsey's books, I would first give your daughter The Automatic Millionaire. You can get a used copy for about $6.00 (including shipping) at Amazon.com

If only I had read this book when I was 19 years old!

Brian

 

As a Dave Ramsey fan...I'd say that I think his position would be that you don't need to build credit if you have cash. Nobody is interested in your credit report if you have $$; which is what his plan gets you.

 

exactly--he's about going to a cash basis

he saved our finances--love his materials

 

Here's a good way to look at it. Think about what a credit report is. It is people basically wanting to know how consistent you are in paying bills when you're broke.

If you're not broke....no need to worry about how consistent you'll be because you have money.

 

I have to agree with Webdog on this one. I am not saying that Ramsey doesn't help many people, but he is far from being the best choice for a young person to first learn from.

 

How does one get cash? A job. Many employers hire based on credit score and history.

I agree with much of his advice...to those in debt over their eyeballs. All credit is not evil as he implys, though. Like anything in life, it is a tool that can be abused, but can also be quite valuable and convenient when used responsibly. Keeping the alcohol away from the alcoholic is not the way to cure his problem. You deal with the heart. Same applies to debt, as you deal with the spending, not the credit.

Fact is, we are moving away from a cashless society very fast. Anyone who puts all of their eggs in Mr. Ramsey's basket may be quite surprised one day.

9 out of 10 millionaires own real estate. I would venture 90% or more put down the 10 - 20% minimum (or less) on their properties, and finance the remainder

 

I don't know.....I know quite a bit of people who have their eggs in his basket, plus you can listen to them on the radio. Nothing to be surprised about when you have millions in mutual funds....plus thousands in the bank.