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Young workers are pushing back against Dave Ramsey's financial advice on TikTok. You’ll spend $22,995 over the course of 30 years,” Ramsey’s financial advice company, Ramsey Solutions, writes in a post on its website. But younger workers say buying a home in cash isn’t feasible when home prices are skyrocketing nationwide. AdvertisementYounger generations began questioning Ramsey’s advice on homebuying even before the anti-Ramsay rhetoric began trending on TikTok. Sarah Martinez Shaw, who grew up on Ramsey’s advice, told BI his tips left her in a tough spot .

Persons: Dave, —, Dave Ramsey, Gen Z, “, “ You’ll, You’ll, ”, ” Jarrod Benson, Ravin, Mercer, Gen, Ramsey, ” Josh Benson, Ramsay, Sarah Martinez Shaw, Ramsey “ Organizations: Service, Wall Street, Ramsey Solutions, Orlando, Business, America Locations: TikTok, ”, West, United States, Dallas

Ramsey asked Travis why he hadn't gotten on a "tight, tight, tight, tight budget" to get his debts down. Ramsey said Travis should meet his basic obligations then throw everything else at his "stupid credit card debt until it's gone." "But you're not going out to eat, and you're not going on vacation," Ramsey said. Ramsey said Travis had to look at his finances like "every dollar has a mission:" necessities or his debt. "You will go, 'Where is all this freaking money going?'"

Persons: Dave Ramsey's, Travis, Ramsey, Benjamin Franklin, hadn't, it's, I've, Ramsey's cohost, John Delony, You've, Delony Locations: Michigan, Grand Rapids , Michigan, American

A man on Dave Ramsey's show seven years ago said half his income was going towards his car loan. He is now debt free after following Ramsey's advice, and helps others with their own finances. A man who appeared on Dave Ramsey's show seven years ago said the harsh advice he got helped turn his finances around — and that he's now debt free. Ramsey is an American radio host and evangelical Christian who is known for his financial advice. But Amirfarzaneh, who does not have any part in the lawsuit, said he appreciated Ramsey's advice because it was simple.

Persons: Dave Ramsey's, Faraz Amirfarzaneh, Ramsey, Amirfarzaneh, It's, he's, he'd Organizations: BMW, Toyota Avalon, Avalon, Toyota Locations: —, Los Angeles, American, Texas

In it Feraz, 27, said he was spending $600 a month — half his income — servicing a loan for his BMW. TikTok viewers were shocked by a resurrected clip of a man calling in to Dave Ramsey's radio show to ask for help with his car loan, which was eating half of his income. Feraz, 27 from Los Angeles, said he was using up half his $1,200 monthly income in car payments — $600 per month for his BMW. In the clip, Feraz said he was also in $15,000 of debt from his last BMW. Two out of 13 people are making monthly car payments of $1,000 or more, according to Bloomberg.

Persons: Dave Ramsey, Ramsey, Feraz, Dave Ramsey's, We've, Ramsey didn't, I'm, Feraz's, You'll, you've, Caleb Hammer Organizations: BMW, Bloomberg, Financial Locations: Los Angeles, American, TikTok

Ramsey's listeners call in and, after describing how they paid off their debt by following Ramsey's advice, scream, "WE'RE DEBT-FREE." With a non-existent credit score, I couldn't even get approved for a normal credit card. One family member mentioned that Ramsey's advice is to save longer and pay for a house in cash. Meanwhile, he stigmatizes legitimate paths forward, such as having a credit score built on years of responsible credit use. In my own journey to buy a home, I saw clearly that Ramsey's advice is not given with my circumstances — or my success — in mind.

☆ Dave Ramsey's money advice served my family well, but I finally had to ignore it to take control of my finances
▼ + stars: | 2022-10-04 | by ( Kara Detwiller | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Growing up, Dave Ramsey's financial advice helped my parents get out of debt. He especially warns people about the evils of auto loans and credit card debt. I also felt I was losing out on potential credit card perks like rewards points, airline miles, and cash back. I'm using my credit card responsibly and racking up rewardsI have been using my credit card for several months now, and I'm very happy with it.

Persons: Dave, —, Dave Ramsey's, Ramsey, I'm Organizations: Business Insider, U.S, Service, Dave Ramsey's Financial Peace, US Bank, Financial Peace University Locations: USA, Canada

☆ How a teacher and a salesman in Arizona paid off $52,000 in debt in 18 months
▼ + stars: | 2021-12-23 | by ( Gili Malinsky | ) www.cnbc.com time to read: +5 min

In 2008, Deacon Hayes and his wife, Kim, "were newly married" and "living paycheck to paycheck" in Phoenix, Arizona, he says. She was a teacher and he was selling wood floors, and, "between credit card debt, student loans, and car loans, we had about $52,000 in consumer debt," he says. But by tackling each debt a little differently and paying off between $500 and $6,800 per month, the couple achieved their goal. Here's how Deacon and Kim Hayes, now 38 and 40, respectively, and living in Scottsdale, Arizona, paid off their debt. Deacon ended up getting a job at Long Wong's, a local Arizona eatery, and working there for six months.

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