This week over at, Len did a great post entitled “Debt Elimination: The Pros and Cons of Dave Ramsey’s Baby Steps.” Basically, he went step by step through Ramsey’s plan explaining what he agreed and disagreed with, and why.

We found it very interesting. Working in financial planning, we often hear people say something along the lines of “But that’s not what Dave Ramsey says…” Honestly, it can sometimes get frustrating. Not to say that Ramsey’s plan doesn’t work. He’s helped many people get in control of their finances and out of debt, so obviously his plan works. However, we definitely agree with Len that the plan works for anyone who is committed to it (which is the same with any sound financial plan).

The problem with some people who follow Dave Ramsey is that they believe he is the end all of financial advice. Any ideas outside of the realm of his advice can’t possible be right (we’ve personally seen people like this). But there are always new ideas and new ways of doing things that are better than before. Your personally situation is going to change, making one plan that you were following completely inappropriate for your life. We think it’s fine to follow his plan if it’s going to help you in your personal financial situation, but it’s not the only way to successfully handle things.

Next week, we’re going to go through Dave Ramsey’s Baby Steps and discuss what we agree and disagree with and why (and touch on what we agree and disagree with Len as well).


  • Disclaimer: The information on this blog is not meant for specific financial advice. The ideas/opinions stated are not suited for everyone, and readers should use their own judgment in applying them in their financial lives.