Oddbean new post about login | logout Dave Ramsey wrecked a lot of people with his debt free propoganda.
How so? Just curious. Seeing more criticism of him lately. I've known people who have done his thing and been happy with it. And the people I know who do criticize him haven't tried it. What is the basis for criticizing his program?
The denominator is going to zero.
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His advice works well in an era of high interest rates and low money printing. 30 years ago, Ramsey had good advice. If you spent 7 years paying off your debt before buying a house when interest rates were less than 3%, and then the interest more than doubles, you would have been better off buying the house before paying off the debt. Ask me how I know.