Some people don’t like him because he is kind of a blow hard and has been bankrupt several times like Suzie has. He does not shy away from his experience and how he got there. He is big on eliminating all debts and becoming debt free. I don’t agree with everything he pushes like buying an old car to save $400 a month on car payments, or stretching to buy a house. He pushes a baby step program starting with paying off small debts and on to accumulating a hefty cash balance.
His is Christian based though so that might upset people. I have had coursework in accounting, banking, business, etc. and there is nothing wrong with the program he pushes. Not for everyone but there is nothing wrong with having cash, low or no debts, and being on the same page as your spouse. I do believe there is a place for well managed low interest loans where it makes sense for building wealth.
Thanks Bing
I really did not want to burden some one with a religious based scheme. He went bankrupt a few times ? Does not sound like he would be the one I would look up to. I am keeping my fingers crossed on this one.
One last gasp then I will shut up. You can listen to him on the radio with his callers and judge for yourself. My biggest issue
is selling a reasonable vehicle (which may not be easy) and buying a rattle trap that may not be dependable at all. Done.
Luckily no worries about gas prices, retired and low miles, but don’t forget “59% of Americans are Just One Paycheck Away from Homelessness” Like I said before Jessie Jqcksons ham and egg politics, for a rich person it is like a chicken giving up an egg vs a pig giving up a ham.
The high price for used vehicles would be an incentive for people to sell their trucks. When the car lots are loaded with 4WD trucks, what will happen to the resale values? At least a half dozen of my coworkers have purchased 4 door pickup trucks in the last two years, one of them told me the monthly payment is $780. Another gave up a Volkswagen Jetta for a $60,000 Silverado. These are the people who will overreact to the rise in fuel costs, they will lose thousands in the next vehicle purchase inspired in the need for lower fuel costs.
We have experienced the first week of the gasoline price panic, time will tell how people react. Saturday at Costco I found that the gasoline line had been rerouted around to the rear of the building because the back-up was blocking the street. The people entering this line must have never driven around the building to know the distance involved, I measured the length of the line using Google arial view, 1600 feet. Rational people would not wait in a gas line of this length to save 20 cents per gallon.
we used the Dave Ramsey system to get us out of some pretty massive debt. and then we modified his system to work better for us: We use credit cards now, but only those that give cash back. Dave wouldn’t be a fan of that (very anti-credit card, and I understand why,) but here we are sitting on basically $500 free money after last year, and since we use his system to keep track of our spending and pay off our credit cards before any interest hits- its essentially free money.
With a nod to the various financial “Miracle in a Bottles” , as the OP I was wondering if we were seeing any similarities between our reaction to past “Fuel Shocks” and the current one.
“Mile long fuel lines” (OMG gas is going to hit $1 a gallon), “Torch the fuel gussling V8 SUV”, “blame the Government” or if things are different and we’ve actually learned something.
From my perspective, unlike in prior Crisis, since we’re domesitcally producing sufficient supply, there’s no change in the supply of gas and no shortage so I’m wondering how our response has changed and what it means for the future?
For myself Costco lines are a little bit longer, “wasted” trips to save a buck have been curtailed (including a 3 hour trip to see my brother in law YEA!), the probability of purchasing an EV has significantly increased but there’s no way I’m dumping my current 6 cyl cars (love that torque) and would actually consider a V8 at the right price and my opinion of politicians in general as a group of self serving twits instead of Leaders hasn’t changed a whit…
So what’s happening in your neck of the woods and let me know if anyone is dumping their V12 or V8 GTO, Mach1, MB, Jaguar, Lambo or Ferrari. Hey, it’s a Gas Hog, will give you $5,000 and take it off your hands
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