Larry Burkett vs. Dave Ramsey?

[ChrisOR]

This may fly in the face of popular opinion, but I'm curious if others here prefer Larry Burkett over Dave Ramsey.

 

(And I'm new here, but have always loved reading the discussions on so many topics here, so I hope its okay that a newbie post something that could bring up differing opinions! :))

 

DH and I have a few reasons for this preference ---

 

1. Larry Burkett's suggested budget percentages were more realistic for our area and size of family. We downloaded his guidelines and were much more encouraged to follow these over Dave Ramsey's allowances, which seemed unrealistically low especially in the areas of medical costs, utilities, and car costs.

 

2. We read Larry Burkett's old book Your Finances in Changing Times, as well as listened to an interview on Focus on the Family recorded in the early 1990s, and we believe as he did, that the economy is not healthy.

.

 

3. We used to listen to Burkett on the radio, just his short five minute spot, and always appreciated his humble and helpful attitude. Granted, we don't have Dave Ramsey's radio program broadcast locally, so I don't know his usual demeanor, but his

for the health of the economy was really opposite of Larry Burkett's personality.

 

However, I've read that Dave Ramsey was greatly influenced by Larry Burkett, especially in the areas of debt reduction and getting a budget under control ... great things! We are beginning to use the envelope system for cash purchases. So I'm not saying Dave Ramsey's advice is bad; much of it is good common sense mixed with the practice how-to-accomplish advice. We just prefer Larry Burkett ... he seemed more realistic about personal and national finance, as well as being a genuinely kind man.

Edited July 17, 2010 by ChrisOR
too many commas in one sentence

[Rosy]

My only issue with Larry Burkett (and it's been *years* since I've read his materials, and haven't listened to him on the radio ever) is that he seems to imply certain Biblical mandates with regards to debt, spending, etc. Most are great principles that a wise person would be glad to live by, but crossing the line from "this is a good idea" to "the Bible says you have to" is a sensitive area for me. I do appreciate that he shares the Scriptures that support his points, though. Dave's principles are consistent with Scripture, but he doesn't share them as being the only way. It's more of a prescription for debt reduction and wealth building. You don't have to be a Christian to follow his methods.

 

Granted, Dave is abrasive. And I don't agree with him on everything. In the Seattle area, buying one's first home with 20% down is pretty unrealistic unless you can live with family while you're saving the down payment. But I think following either one will help most people's financial situation.

[tex-mex]

I loved listening to Larry Burkett on the radio. I cannot stand Dave Ramsey. :glare: I don't know why. Perhaps it is his blunt, abrasive manners compared to the kindness of Larry Burkett? No clue. Except that I cannot stand to listen or watch his show due to his personality. He really has no gifts of grace and mercy, to be honest. Just legalism.

[chiguirre]

I prefer Suze Orman. She's usually nice to people, even when she's telling them to shape up. She's encouraging and keeps you focused on long-term goals, but also knows that a little splurge makes life much more pleasant if you can afford it.

[Cinder]

We've done both the Larry Burkett study and Dave Ramsey's. I like Burkett's biblical foundations for his study--he helps you consider money and debt from a biblical viewpoint. And as the OP mentioned above, his budget categories are a better fit for us. And he didn't bash the use of credit cards.

 

Dave is the kick in the pants that a lot of people need to get out of debt. It was what we needed to get better control over our budget. We didn't have debt besides our mortgage. But we used our credit card for everything (just paid it off at the end of the month), and didn't keep good track of how our spending fit into our budget.

 

I feel like we're done with Dave, but we're still with Larry. And since we use his Money Matters software with his face up in the corner of the home page, I feel like he's still with us. :001_smile:

 

Cinder

[praisefor3]

I agree with every thing said about Larry Burkett. His demeanor, kind spirit, etc. made him a welcome advisor to many who were hurting and seeking. And I think I agree that Dave Ramsey is perhaps the "kick in the pants" that many need. We did have our oldest do his highschool study and I think that was a good program. We started using Mvelopes last February and it has drastically changed our lives. It came out of Crown Ministries (Larry was the CEO) but it is now a separate company (if I understand it right.) It's basically an electronic envelope system. Physical envelopes are just not feasible for us since we do so much online so it just was not a good fit for us - trying to do some online, some in envelopes, etc. Mvelopes is an envelope system that is managed online. It was truly an answer to prayer. We are still learning how to make it work best for us but I feel like we have such a better handle on our finances now. We went ahead and signed up for the 2 year plan and I would say it's already paid for itself in just the peace of mind knowing that we are keeping up and more aware. We plan to take it to the next step to use it to help us aggressively grow savings.

[Rebecca VA]

It's true Dave Ramsey is abrasive, but he has a real heart for people. I've heard his voice break with empathy many times. He's always thrilled when he hears stories of people who have gained control of their finances. His products are reasonably priced and usually on sale so that people can afford them easily. I was once taken a bit aback by Dave, but now I'm one of his biggest fans.

[Mom22ns]

I really don't think you can go wrong with either one. They are both teaching sound money principles. The biggest difference is personality. We didn't have trouble handling money and were never in debt. However, Dave was funny enough and inspiring enough to get us to listen and gave some good advice on the amounts we were saving and where. I'm afraid Larry just puts me to sleep.

 

Different strokes for different folks.

[Peela]

Ive only just read Total Money Makeover and it has been the kick in the butt I needed. I feel a lot of compassion through his words. He doesnt come across as heartless at all. He is that "tough love" we all need in some area of our lives!

 

However, I downoaded a podcast of his radio show and couldnt bare to listen past the first few minutes. I couldnt stand his speaking style and can really understand what people mean whent they say he is brash.

 

He does seem to me to be a man of integrity, though. Not sure if I will get past my cringing at his radio voice, though, to actually listen to him. I will probably just recommend his book.

[kathkath]

DR just built himself an enooooooooooooooormous house. I wonder if he paid cash?

[Daisy]

Oh never mind. Hubby told me to stay out of it.

 

I don't care for Dave Ramsey and have always preferred listening to Burkett. I'll just leave it at that.

Edited July 17, 2010 by Daisy

[lynn]

Some young adults may not know who Burkett was. We had the privilege of hearing his broadcasts every day when we were in our early 20's applied his financial principles to our every day life. We are 100% debt free today. someone did give us his books for married couples but we got most everything we needed through the daily broadcasts. I was so sad when he passed away.

Edited July 17, 2010 by lynn

[Impish]

As a Canadian, I find some of DR's advice to be n/a...basically all advice about stock market/investing...even some of the budgeting, b/c we don't have some expenses, and others are higher than he allows for.

 

Some things just work differently this side of the border, but he's a good overall foundation. I use the generator available online via Gail Vaz Oxlade for budgeting, since its Canadian, but don't like some of her advice.

 

I think reading a few different financial advice books, and taking what works for your family to be the best way to go. What I don't like about DR is the assumption that there'll always be a 'later'...you never know what may come, and never doing anything special as a family, assuming there would be a tomorrow can cause some heartache. I'm not talking about spending $1000s on credit, but not always doing without either. I like a bit of flexibility, and find that sometimes ppl get very hard line and rabid about things, and forget to find fun along the way.

[Scarlett]

It's true Dave Ramsey is abrasive, but he has a real heart for people. I've heard his voice break with empathy many times. He's always thrilled when he hears stories of people who have gained control of their finances. His products are reasonably priced and usually on sale so that people can afford them easily. I was once taken a bit aback by Dave, but now I'm one of his biggest fans.

 

Me too. He is sort of 'in your face', but he is also kind and does have empahty for people. And he doesn't believe people should stick small kids in daycare to further his plan...he helps them brainstorm ways to reduce spending or make money at home. He is about family....

[Scarlett]

DR just built himself an enooooooooooooooormous house. I wonder if he paid cash?

 

Yes. He did.

[creekland]

What I don't like about DR is the assumption that there'll always be a 'later'...you never know what may come, and never doing anything special as a family, assuming there would be a tomorrow can cause some heartache. I'm not talking about spending $1000s on credit, but not always doing without either. I like a bit of flexibility, and find that sometimes ppl get very hard line and rabid about things, and forget to find fun along the way.

 

:iagree:

 

I like DR and I have my boys do his high school course, but I also talk it through with them in areas where we disagree.

 

We are absolutely against worrying about tomorrow. I know from family history that tomorrow doesn't always come. As for us, we've decided some debt is ok - not for continual new toys, expensive coffee, or whatnot, but for family vacations and experiences. I'd rather enjoy the family today, when we have it, and pay off debt tomorrow when they are gone even if it means hubby and I work till we're 80 if need be. That said, there's a limit... Besides, money we did the "right" thing with and invested is over 50% gone now due to the economy. Who knows if we'll get it back. We could have done family month-long trips to Asia and Africa with that money (or less) and had great memories. I wish we had. More than once I've kicked myself for choosing to invest instead.

 

My grandparents and in-laws saved for tomorrow all the time. My grandpa died at age 61 never getting to use his $$. My MIL has Alzheimers. They could have done so much more when she was "all there" IMO. My FIL and my grandmother both wished they had chosen some things differently.

[tex-mex]

I prefer Suze Orman. She's usually nice to people, even when she's telling them to shape up. She's encouraging and keeps you focused on long-term goals, but also knows that a little splurge makes life much more pleasant if you can afford it.

:iagree: I love Suze!!

[Moxie]

DR just built himself an enooooooooooooooormous house. I wonder if he paid cash?

 

 

Of course he did. He wouldn't have much integrity if he had borrowed money. Plus, he is a multi-millionaire, why would he borrow money??

[Irene Lynn]

We like Larry Burkett better for our family, but we didn't really need a lot of financial advice. We were pretty much doing everything that Larry and Dave talk about. We found the Bible study part very beneficial. One can do the right things with the wrong attitudes and it was a good check on our attitudes.

 

We have led groups using both materials and have found that Dave's program was more effective at producing change and basic mathematical understanding for the financially clueless. He emphasizes the mechanics, whereas Larry emphasizes the philosophy behind it. I prefer the philisophy. For someone who is sinking financially, I think they need to be thrown a life preserver (Dave's program) first, before they can even think about the attitudes behind it in most cases.

 

Everyone who took Larry's course found it very helpful at helping us to examine our own hearts and attitudes, BUT some of the people just did NOT seem to get the financial terminology and the practical side of how to make wise financial decisions. Now the material says to go to wise people , too, but some of them don't seem to know who is wise. Okay, we have worked with some REALLY financially clueless people. LOL The Dave R. program produced more financial results, though we still found some people who thought they were operating on a budget for a few weeks, who still had NOT really started. The financial/budgeting mindset can be so new that it is truly like going to a foreign country for some.

[ChrisOR]

Everyone, thank you for sharing! I appreciate knowing your opinions and how others view the programs and personalities.

[sassenach]

Of course he did. He wouldn't have much integrity if he had borrowed money. Plus, he is a multi-millionaire, why would he borrow money??

 

Especially for a house that is only 1.5m. Not like I have that kind of money, but it doesn't seem like all that much compared to what he is probably worth. Maybe I'm just jaded because I live in the land of multi-million dollar homes.

[Ginevra]

I think they are both good, but I did prefer Larry's demeanor.

 

Ultimately, I don't agree with Dave's complete non-use of credit cards. i could not make envelopes work for me. It was a fumbly mess! And there are benefits and purposes to having a credit card. I would only recommend against credit cards for people who have psychological spending problems, i.e, "If it's available, I'll spend."

[Scarlett]

Especially for a house that is only 1.5m. Not like I have that kind of money, but it doesn't seem like all that much compared to what he is probably worth. Maybe I'm just jaded because I live in the land of multi-million dollar homes.

 

Is that all he spent? Wow. I am impressed. I know that is a mega house, but DR is MEGA rich.

[rlowetx]

I've never found DR brash at all, just to the point honest. His Total Money Makeover saved our finances and our marriage. It was easy to follow and clearly laid out - I like that I don't have to spend to much time figuring out a way to make the plan work in my life. That being said, we haven't cut up all our credit cards, but live (now) debt free.

 

With all these people, they aren't our parents, they just give advice. We found his the easiest for us and modified it to meet our needs (i.e. we still have an AMEX and use it - its just built into our budget). He doesn't look at my budget and I don't need his approval. I listen to his show regularly and have attended his entreleadership course. He is incredibly compassionate to those who need help not excuses - his people help the military and widows free of charge. But if someone is looking for justification of living outside their means, yeah, well they shouldn't call his show (it does amaze me that these people call in).

 

Me and my family needed a kick in the butt. I also love his mantra, if you want to have money, do things that people who have money do.

 

He has talked alot about his house - he negotiated on everything and got great deals on everything - because the economy was down and he was paying with cash.

[TXMary2]

I like Dave Ramsey because he isn't an enabler. He gives a no nonsense way to get yourself out of the trouble you got yourself in to. It's painful and rightly so. When it is over, it's over and you never want to do it again. I don't need any one softballing me or telling me what I did was OK. Slow debt reduction by trying to maintain lifestyle that got one into a bad way to begin with is like torture in my opinion. I like short term sacrifice for long term gain. That's my .02

[Peela]

What I don't like about DR is the assumption that there'll always be a 'later'...you never know what may come, and never doing anything special as a family, assuming there would be a tomorrow can cause some heartache. I'm not talking about spending $1000s on credit, but not always doing without either. I like a bit of flexibility, and find that sometimes ppl get very hard line and rabid about things, and forget to find fun along the way.

 

This part also strikes me, but I was thinking that from his perspective, if he makes too many "exceptions" to the simplicity of his system, the system becomes no longer simple, and people give themselves too many excuses.

Its a bit like Flylady allowing someone to whine and get away with it cause they really have a difficult life...you can't pick and choose.

Yes, there may never be a later and some of us will compromise for that, to take our kids on a holiday etc. But I think "living for the moment" is what gets many of us into trouble in the first place.

But I dont need to tell DR what i am doing :) and thats really my business and my priority. I am glad his system is simple and straightforward...I think thats why it works for so many. Just like you can keep a credit card and still do his system...as long as you are actually able to use it only wisely....you can adapt the system for yourself.

 

We won't be investing in shares. We intend to pay off an investment property instead.