Dave Ramsey

His show is run via tape delay in Lakeland, Florida, on WKLF(1430). WLKF uses his show as program filler. A few nights ago, I heard Ramsey tell a caller Pre- Paid legal was a good MLM business to get involved with. WTF....I thought Ramsey wanted his audience to be debt free? Ramsey didn't tell this caller that MLM businesses want a lot of money upfront. I have no respect for Dave Ramsey. This guy just wants to sell his books and DVD's. I've been told his financial plan works, however he sounds like a radio version of Jim Jones. Anyone else remember that nut?

Remember? He's still on quite a few stations.

And you can get into an MLM business without going into debt. Obviously this one is a sponsor. I wouldn't touch it with a ten foot pole, but it isn't inconsistent with his gimmick.

I don't know the partiuclars of what it costs to be involved with Pre-Paid Legal, but if I were inclined to get involved with an MLM, that would be one of the few I'd consider since it is a legitimate product.

That said, if they are a sponsor, it does raise an ethical red flag. Not knowing the context of the call and exactly what the caller asked, it's really hard to have a good discussion on this point. Dave's basic advice to match your lifestyle to your available funds after budgeting enough to get out of debt is sound. I like his show, although I don't get to listen very often.

Financial types run the range on radio. This fool just got convicted for bilking a lot of good people of their money. Comparatively, Dave is a godsend.

http://www.arcamax.com/currentnews/newsheadlines/s-1357620?fs

Here's another:

http://www.reuters.com/article/2013/07/09/radio-adviser-fined-idUSL1N0FF1QW20130709

Dave Ramsey is a fraud. It will take time (as it did with the late Sonny Bloch) for the truth to surface, but it will. If he hasn't done anything illegal yet, he will. His as his show gains more gullible followers and therefore more affiliates, he'll become emboldened and the SEC will take notice. I have a good BS detector!

wadio said:

Dave Ramsey is a fraud. It will take time (as it did with the late Sonny Bloch) for the truth to surface, but it will.

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Do you have any specifics? If so, please share them. Until then, telling people to not go into debt seems like a pretty good idea.

I didn't know Ramsey had picked up a pre-paid legal sponsor. I know he has a legal forms sponsor, but now pre-paid legal?

del_griffith said:

I didn't know Ramsey had picked up a pre-paid legal sponsor. I know he has a legal forms sponsor, but now pre-paid legal?

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US Legal Forms dot com is the only legal type sponsor Dave has right now.

I always chuckle at those who criticize Dave as they are usually the ones up to their eyeballs in debt.
(not speaking specifically about anyone on this board)
Dave's plan works plain and simple- and you can do it for FREE just by listening to his show.

Mark Bohach- debt free since 1998 and owner/operator of a debt free radio station.

Thanks for the clarification. I don't listen over the air often anymore. I sometimes will listen to some of the podcasts, but even then it's with less frequency. I've never heard him have a pre-paid legal firm as a sponsor, and generally he's been negative about pre-paid legal. That's why it would have surprised me if he had picked up one.

It surprised me to, so I'm glad it was clarified.

I have to agree, Dave gives out some good, common sense advice. The radio spectrum is better with him on it.

I don't listen over the air often anymore. I sometimes will listen to some of the podcasts, but even then it's with less frequency.

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From an entertainment standpoint that's the problem with Dave's show -- it's the same thing over and over and over.

If you listen to Clark Howard you'll get useful information about how to save money, the latest trends in technology and travel, and all kinds of other useful stuff. You can actually LEARN something from listening to his show. If there's an economic event in the news he talks about it. The show is not subject to burnout.

Ramsey, OTOH in his "evergreen" show, does nothing but spew the same tired mantra about becoming debt free. I can say it in two sentences, "Don't spend more money than you have. If you're already in debt, spend less than you have and pay off your debts." That's how to live debt free. It's that simple. It doesn't take 2 hours a day, 5 days a week to explain it. (BTW, I, for one, am debt free, Mr. Bohach, so don't make assumptions.)

Ramsey is not in business to "teach." He has identified a segment of people who can't solve their own financial problems and suckered them into becoming "followers." They buy his books, attend his seminars and contact his "certified providers" (or whatever he calls them.) It's a great gig. Too bad it has to clog up the airwaves. But then, radio has always had its share of financial and relationship gurus who specialize in navel gazing instead of focusing on the big picture. If people listen I guess they get what they deserve.

Actually the reason I don't listen as often is not the perceived repetitiveness of the show. I enjoy hearing people become debt free and sharing their stories. I enjoy listening when Dave is dispensing sound advice.

I don't listen as often because I don't enjoy Dave's rants or digging on people when they aren't on the air to defend themselves. And while some will disagree, I agree with someone above who said it's a matter of time before something will surface that will not be the Dave that his brand has presented. He's always been fiesty, but he's become more defensive and self absorbed in the last few years.

I'd really like to hear what this magical bombshell is going to be.

Dave's show is filler for radio folks, but the people who listen really listen. And his audience skews a LOT more female than most talk. All the people wringing their hands over no female listeners, this is what you're going to have to do to get them. Hollywood gossip radio shows aren't going to work. Liberal political talk absolutely won't work. Money shows like Dave and Clark Howard do work.

The specific bombshell? Can't say. Did anyone predict Limbaugh's situation with prescription drugs? Or the viagra obtained under a fake name? I just believe that he's going to get careless or too full of himself and make the some key mistake that will tarnish the brand for many.

One thing Dave has done well is that he's created a tribe that will rally around him virtually despite anything he could do. Within that tribe, he'll still be ok. Remember, even Jim and Tammy Bakker had tribe members who returned to the flock after their fall. It will be with the P2's that he will suffer if it occurs.

del_griffith said:

The specific bombshell? Can't say. Did anyone predict Limbaugh's situation with prescription drugs? Or the viagra obtained under a fake name? I just believe that he's going to get careless or too full of himself and make the some key mistake that will tarnish the brand for many.

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Those things really didn't even make a dent. Hell, the guy went deaf and still does radio.

It is just a hillbilly finance show for barely educated gomers.

You could take any one of his shows and replay it 20 times and the listeners would never notice.

Boring boring boring radio.

At lest with Clark Howard, you don't get biblical nonsense.

Howard has a first rate show, but his topics deal more with an investment strategy where Ramsey touches on changing your lifestyle to fit your budget. Both shows can be informative to the same listener.

umfan said:

Howard has a first rate show, but his topics deal more with an investment strategy where Ramsey touches on changing your lifestyle to fit your budget. Both shows can be informative to the same listener.

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Ramsey does offer some useful advice and yes, he does repeat it day after day. He has his own set of 10 (give or take) personal finance commandments. People keep calling with the same problems and keep getting the same advice. What he offers may be based in common sense but apparently some people won't pay attention unless he claims his advice comes from god. Since many of his callers say they are not first time listeners, apparently even god can't get them to pay attention. The equivalent of Dave Ramsey would be a health advice show which keeps telling people to eat less and exercise more over and over (with Bible verses to back it up). And, oh yes, then sell them your own weight loss products.

I see Clark as more a consumer advocate and getting the most bang for your buck.

I think Ramsey has an overall good show. As noted, I don't care for the rants and I don't care for the times he sometimes bullies people or tears them a new rear end when either he's dumped them or gets an email, tweet or whatever. But I do believe in what he does as far as the steps to begin building wealth goes. And let's face it, he now screens for drama.

To me, I don't need the bible verse stuff. But for some people, it makes all the difference. I met someone a few years ago who trusted Ramsey because he injects faith into his program but didn't trust Clark Howard because he didn't. To be honest, I think Howard is the more honest person. But scripture trumped common sense.

Quoting scripture is a good way to gain followers. Dave Ramsey and Glenn Beck both know that and use it to their advantage.

ProducerGuy said:

Dave's show is filler for radio folks, but the people who listen really listen. And his audience skews a LOT more female than most talk. All the people wringing their hands over no female listeners, this is what you're going to have to do to get them. Hollywood gossip radio shows aren't going to work. Liberal political talk absolutely won't work. Money shows like Dave and Clark Howard do work.

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I almost missed this: Who is wringing their hands over no female listeners? There are formats that deliver female listeners. Any hand-wringing is over no young listeners.

In any market, there is usually one blow-torch, heritage talker that has Rush locked up (usually along with Hannity and Beck) and takes the lions share of the talk audience. What options does another AM station have? Ramsey and Howard do better than the other "also ran" talkers.

Taking a syndicated show (or not) is a business/programming decision and has nothing to do with what I (or any programming decision maker) happens to like. Conservations on this board (and elsewhere) often are ruled by the following logic: What I like is good. What is good is good programming. If I ran a radio station, I'd program what I like (and the world would beat a path to my door). Real world programmers have made some dumb decisions but they program based on what they think an audience will like and not for their own amusement (which they expect an audience will share).

People, especially people on the right, decry government spending and massive deficits. Politicians, especially on the right, come along and say government should act more like business and get it's finances in order like real people. Problem is business runs on debt and most "real people" are deeply in debt - as much or more than the government. College loans. Mortgages. Car loans. Credit cards. So, let Rush rant about government spending. If Ramsey gets "real people" to be "fiscally responsible" and avoid personal "deficit spending," he may be doing some good.