this post was submitted on 03 Jul 2024
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A Boring Dystopia

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[โ€“] HelixDab2@lemm.ee 61 points 4 months ago (1 children)

Ramsey has been a shitbag for a long time. This is no surprise.

My parents gave me a subscription to his financial university program a number of years ago. Some of the basic concepts are great, like the debt snowball. On the other hand, he places the blame for insufficient income on the people; if you simply can't cut enough expenses, then you need to earn more money, so get a better job you lazy schmuck. ...As if that actually worked for most people. It entirely ignores economic realities, where a large number of people have to lose so that a very few people can win.

[โ€“] gnate@lemmy.world 5 points 4 months ago

The snowball method can be helpful in a psychological sense, but it's less than ideal from a financial standpoint. (You can pay down debt faster with more conventional methods, IF you stick to them.)