05-04-2008, 03:29 PM
Dave Ramsey has espoused (the times I've heard him), that one of the VERY FEW things to carry debt on is a mortgage...
Of course, he's also of the opinion that you should have a pretty good sized down payment, and 6 months of payments in the bank for an emergency fund (which is NOT a bad idea).
I think his rules change when you're talking about property as "investment" vs buying a place to live.
The first couple times you listen to Dave Ramsey and his "NO CREDIT CARDS" rants, he sounds crazy. Keep listening, and he starts making a LOT of good sense.
I'm using credit less and less, and keeping more "real dollars" and budgeting things.
I'm finding that I have a surprising amount of money left at the end of the month, rather than wondering where my money went. (OK, it's not much in absolute dollars, but the point is it doesn't evaporate into a credit card payment!).
I'd listen to Dave Ramsay on Mortgages.
Of course, he's also of the opinion that you should have a pretty good sized down payment, and 6 months of payments in the bank for an emergency fund (which is NOT a bad idea).
I think his rules change when you're talking about property as "investment" vs buying a place to live.
The first couple times you listen to Dave Ramsey and his "NO CREDIT CARDS" rants, he sounds crazy. Keep listening, and he starts making a LOT of good sense.
I'm using credit less and less, and keeping more "real dollars" and budgeting things.
I'm finding that I have a surprising amount of money left at the end of the month, rather than wondering where my money went. (OK, it's not much in absolute dollars, but the point is it doesn't evaporate into a credit card payment!).
I'd listen to Dave Ramsay on Mortgages.