THBT the Ramsey school of thought has done more harm than good in low and moderate income communities
According to Dave Ramsey, all people can achieve financial peace regardless of any structural disadvantages they may face, so long as they work hard and strictly adhere to Ramsey’s methods. For the purposes of this debate, the Ramsey methods consist of commitments in three areas. First, paying off low balance debt before high interest debt and strictly avoiding new debt such as credit cards and student loans. Second, extreme thriftiness to enable substantial contributions to savings, investments, and personal emergency funds. Third, giving generously to charitable causes.