Dave Ramsey-Cash only system

[71chevellejohn]

Oh and if you wanted to even one up my system, put all the bills on a credit card and use the "bills" account to pay it off every month. Build credit up too. I would do that but I HATE credit cards and refuse to have one, and yes I have the credit to prove that lol.

I was doing something similar just for the reward points from my credit card and my bank. Pay the bills with the cc and pay the cc with the debit card (run as credit) = points earned from both.

[71chevellejohn]

Having had just one debit card stolen and canceling it not even 2 hours after noticing that it was stolen, and then having to wait 6 weeks for Wamu to return the $600 to our account after proving it was stolen and they were fraudulent charges. I would then have to disagree with you.

That sounds like a wamu problem. Chase called me 3hrs. after suspicious charges were posted to my account(4 charges totaling ~$500 to xboxlive). The cash was put back within the hour and all i had to do was stop by a branch for a temp debit card. They emailed me an affidavit to fill out and sent me hard copies of everything 2 weeks later, after the investigation was complete.

Bank of Hamlin is not open to the public

There actually is a Hamlin Bank out here in Abilene and it is open to the public.

[fordracing19]

I make to much money off my cash back rewards cards to pay in cash.

[Lason]

Oh and if you wanted to even one up my system, put all the bills on a credit card and use the "bills" account to pay it off every month. Build credit up too. I would do that but I HATE credit cards and refuse to have one, and yes I have the credit to prove that lol.

[GrayStangGT]

Having had just one debit card stolen and canceling it not even 2 hours after noticing that it was stolen, and then having to wait 6 weeks for Wamu to return the $600 to our account after proving it was stolen and they were fraudulent charges. I would then have to disagree with you.

Sounds more like a shitty bank, I had some fraudulent purchases on my credit card, Chase called me canceled the card and refunded the money that day. I didn't have to prove anything just verify which charges weren't mine. In fact I had to call them up because they refunded a legit charge too.

[Lason]

I like everything about it except for the carrying cash part. I would hate to get caught not carrying enough and on the flip side I would hate carrying any kind of large amount.

What I have done, and has worked very well, is set up 3 accounts. One for me, one for my wife and one that is "bills". We each have a certain amount (bills + 10%) direct deposited into the bill account and the rest go into our individual accounts. Bills always get paid, money gets saved and we each are responsible for our own money for whatever we want/need.

[2K2 LS1]

So can I go ahead and get $1k?

Bank of Hamlin is not open to the public

[2K2 LS1]

I'll save my complete opinion of Dave Ramsey, but if you are unable to budget your money and control your spending then go for it.

His views on debt are moronic... I think he is pretty damn full of himself to believe that his "style" is one size fits all.

Not leveraging your credit can be just as evil. I'm not talking about going out and running up a credit card to buy things that you think you need. I'm talking about borrowing cheap money to remain liquid, and understanding the opportunity cost of using liquid assets over cheap interest.

If you are asking about using cash vs plastic on day to day spending, then do what ever you prefer. I prefer carrying as little cash as possible for safety, and if my wallet is stolen I just make a few calls, and I'm out nothing. Just don't go out and drink the Ramsey coolaide.

Having had just one debit card stolen and canceling it not even 2 hours after noticing that it was stolen, and then having to wait 6 weeks for Wamu to return the $600 to our account after proving it was stolen and they were fraudulent charges. I would then have to disagree with you.

[David]

My dad has carried hundreds of dollars on him since I was a little kid. He traveled to New york City, Chicago, etc for business and never once got robbed. I see people everyday at walmart, restaurants even gas stations pull out wads of cash and never get robbed. I don't know about you but I am not a small guy and don't feel intimidated by someone looking over my shoulder at what cash I may or may not have. But I also know that if someone wants to mug/rob me for whatever money I have on me at the time; it is theirs because I have a wife and kids to go home to, and no cash amount would make me give that up!

So can I go ahead and get $1k?

[2K2 LS1]

Sounds like a good way to set yourself up to be robbed when someone sees you pulling out cash from an envelope/multiple envelopes.

My dad has carried hundreds of dollars on him since I was a little kid. He traveled to New york City, Chicago, etc for business and never once got robbed. I see people everyday at walmart, restaurants even gas stations pull out wads of cash and never get robbed. I don't know about you but I am not a small guy and don't feel intimidated by someone looking over my shoulder at what cash I may or may not have. But I also know that if someone wants to mug/rob me for whatever money I have on me at the time; it is theirs because I have a wife and kids to go home to, and no cash amount would make me give that up!

[Denny]

Sounds like a good way to set yourself up to be robbed when someone sees you pulling out cash from an envelope/multiple envelopes.

You don't carry all of it with you. LOL

[jakesford]

I'll save my complete opinion of Dave Ramsey, but if you are unable to budget your money and control your spending then go for it.

His views on debt are moronic... I think he is pretty damn full of himself to believe that his "style" is one size fits all.

Not leveraging your credit can be just as evil. I'm not talking about going out and running up a credit card to buy things that you think you need. I'm talking about borrowing cheap money to remain liquid, and understanding the opportunity cost of using liquid assets over cheap interest.

If you are asking about using cash vs plastic on day to day spending, then do what ever you prefer. I prefer carrying as little cash as possible for safety, and if my wallet is stolen I just make a few calls, and I'm out nothing. Just don't go out and drink the Ramsey coolaide.

[Vertnut]

Our church (and apparently a lot of others) put on this seminar for free. Pretty neat course, but not for everyone. He's hardcore, and feels like until you are RICH, you should not ever buy a new car. We follow several of his idea's (I don't buy new cars and I pay cash for what I buy), and we're down to one small credit card balance. We've put both kids through college out of pocket, except for one year of student loans due to my business not being great. I recommend using at least some of his idea's. For other's, it may not be realistic to do at first.

[Lone Sailor]

Sounds like a good way to set yourself up to be robbed when someone sees you pulling out cash from an envelope/multiple envelopes.

[Denny]

Sounds like a hassle for something anyone could be capable of just by managing their account.

Some people need a little more help than others. make it a hassle and it might make you think twice about spending frivolously.