Listening to Money Morons: Dave Ramsey

Dave Ramsey has long been considered "the man" when it comes to financial advice—especially if you want to get out of debt.

In recent years, though, controversy has dogged Dave's heels. He had to settle a discrimination lawsuit for his employment practices, and he's facing a $150 million lawsuit from disgruntled followers who took his advice to use a company now being investigated for fraud.

So, should you listen to Dave Ramsey? Let's discuss what Ramsey does right, what he does wrong, and whether you should follow his advice at all.

Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Today's special guest is Tori Dunlap, founder of Her First $100K and the Financial Feminist podcast.

Before we start, remember: We're not offering financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.

You can listen to the podcast with the player at the top of this page, or download it wherever you get your podcasts:

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Where are you getting your financial advice?

One of the first names that pops up when you think of "financial gurus" is Dave Ramsey. But is Dave really the best place to get ALL of your financial information? And what about all these other financial gurus? (Stacy has an article about why he doesn't trust Suze Orman.)

It's hard to say. Our guest, Tori Dunlap, takes us through some of the issues with relying too heavily on Dave Ramsey—especially when other financial educators and professionals might provide you with better information for your circumstances.

Money Talks News offers plenty of information on vetting your financial advice sources—and provides helpful insights and tools for making better money choices.

• Few Big Banks Offer Good Financial Advice, Customers Say
• 25 Pieces of Popular Financial Advice You Should Ignore
• 7 Pieces of Common Money Advice That Can Cost You
• When to Pay for Financial Advice and How to Find the Right Adviser
• 11 Tips to Help You Figure Out if You Need to Pay for Financial Advice
• What Do Financial Advisers Actually Do?
• 5 Things to Know When Choosing a Financial Adviser
• How Much Does a Fee-Only Financial Adviser Cost?
• Financial Therapy: What It Is and Why You Might Benefit From It
• The Best Sources to Help You Make Great Financial Decisions
• Become an Overnight Financial Whiz With These 5 Simple Tools

Start with free, reputable financial resources

Eventually, it might make sense to seek help from a financial professional. Starting with free financial resources can make a big difference—and Dave Ramsey might not be the best place. There are plenty of other ways to get reputable information from a variety of viewpoints. You can even get this money help without the big heaping side serving of shame that Dave Ramsey dishes up.

Here are some of our best financial resources on Money Talks News, covering everything from reducing costs to paying down debt to saving money to investing and planning for retirement:

• 21 Products That Will Help You Save Money
• 11 Ways To Save Money on Food Without Using Coupons
• 10 Depression Era Hacks and Frugal Living Ideas To Save Money Now
• 10 Sure-Fire Ways to Beat Inflation
• Debt Consolidation vs. Debt Settlement: 5 Things You Need To Know
• 5 Things You Need to Know About Paying Off Debt This Year
• How to Destroy Your Debt and 3 Things to Do Next
• How Much Should You Have in Emergency Savings?
• Start Building Serious Savings With a Pay-Yourself-First Strategy
• 9 Tips for Sane and Successful Stock Investing
• The Lazy Person's Guide to Flawless Investing
• 7 Things You Should Know Before Investing in I Bonds
• Your Guide to Alternative Investments
• Why Index Fund Investing Is Good for Your Retirement
• The Final Stretch: 6 Ways To Boost Savings As Retirement Nears
• 5 Tips to Reduce Your Retirement Savings Anxiety
• 5 Fast Ways to Turbocharge Your Retirement Savings

Meet this week's guest, Tori Dunlap

Tori Dunlap is an internationally recognized money and career expert and podcast host. After saving $100,000 at age 25, Tori quit her corporate job in marketing and founded Her First $100K to fight financial inequality by giving women actionable resources to better their money. She has helped over four million women negotiate salary, pay off debt, build savings and invest.

Author of the instant New York Times bestselling book "Financial Feminist"; host of the #1 Business Podcast, Financial Feminist; a Forbes 30 Under 30 honoree; and co-creator of Treasury, an investing education platform that has over $50M invested (featured on New York Times Business front page), Tori's work has been featured on Good Morning America, the Today Show, the New York Times, CNN, BBC and more.

Tori now travels the world writing and speaking about personal finance, online businesses, and confidence for women.

• Book
• Website
• Podcast
• Instagram
• Twitter
• Facebook

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He's a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She's been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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