Dave Ramsey Vs ???

I am most of the way through one of the Rich Dad audio books called Rich Dad’s Guide to Becoming Rich…Without Cutting Up Your Credit Cards and this is where I got the idea for creating this blog. The title of the book by Richard Kiyosaki and Sharon L Lechter seems to poke fun of Dave Ramsey in that he goes with a no debt approach advising his students to cut up all their credit cards and never go into debt except maybe for a mortgage. Richard Kiyosaki in his Rich Dad Poor Dad series and especially this book would take another approach. Debt is divided into good and bad debt. Good debt being debt you take on that is paid for by others. The best example of this is buying a rental property that cash flows so your renter pays the debt and you get some profit as cash flow. Bad debt would be where you pay the debt from your earned income when you get your paycheck, thus it’s not an asset you’ve taken on debt to pay for a liability like maybe a car.

A twist on this line of thought however and this certainly deviates from anything you’d hear Dave Ramsey teach is taking on debt for liabilities but creating an asset that will pay for the debt on the liability. The thought is that for every liability you take on and owe debt on you should not be using your existing income but should create a new asset that pays the debt and when the debt is paid eventually adds to your assets. This blog is a good example of that. I pay alot of money to buy books like Rich Dad’s Guide to Becoming Rich…Without Cutting Up Your Credit Cards or Dave Ramsey’s books and other authors. So by creating a blog I can put advertising on it like Amazon.Com and Google Adsense and hopefully if I do my job well writing i’ll get visitors who help generate revenue to fund my hobby of buying books on money management and investing.

Ok so this is my opening post of this new blog. I called the blog Dave Ramsey Vs because I found myself comparing the thoughts and teachings of Dave Ramsey from his Total Money Makeover book to other financial planners and authors. Some of these authors like Richard Kiyosaki of the Rich Dad Poor Dad series are often compared with Dave Ramsey and even sometimes put up as having competing teachings. In this I disagree so I thought i’d build this blog as a forum for making observations about Dave Ramsey and The Total Money Makeover and how it relates to other financial authors. Aside from my interest in good financial health I also needed to create an asset that would pay for my hobby of reading financial books, investing and working my own Total Money Makeover. You see this is not an anti Dave Ramsey blog. Dave Ramsey has changed my life after reading The Total Money Makeover and listening to his podcast. Six months ago I began my own Total Money Makeover, I make good money but felt broke all the time and could not explain where the money all went. By working my own Total Money Makeover i’ve managed to get to where in about six months I should be debt free except for my mortgage (on a 15 year fixed), and a rental property which cashflows a couple hundred each month. But as i’ve read other authors besided Dave Ramsey i’m beginning to make some observations in regards to the teachings , methods and opinions of other financial authors. So in future posts i’ll be comparing these teachings and providing my own commentary and opinon. Hopefully any visitors to this blog will find it as interesting as I will be in writing it.