Money talks
Dave Ramsey
Well known radio host, author and motivational speaker Dave Ramsey doesn’t want to sit back and watch the recession take over people’s lives anymore. Ramsey is holding a “Town Hall for Hope” tonight to discuss “what’s happening with the economy, how we got here, and where we’re going.”
His live presentation will be broadcast to several host locations, mostly churches, through live video streaming. You can find a host location near you by visiting www.townhallforhope.com and clicking on “Attend the Event.”
Event details
Dave Ramsey for years has motivated audiences to get out of credit card debt and become proactive about debt reduction and credit repair. The event tonight begins at 8 p.m. ET. Ramsey will be speaking at a church in Oklahoma, and other churches that have already signed up to be hosts will show the presentation live.
Ramsey’s Town Hall for Hope web site says he will talk about foreclosures, recession and whatever audience members ask about. He’ll be taking questions throughout the event.
Ramsey’s wisdom
Ramsey’s well-known and sometimes controversial approach to getting out of debt is called the “debt snowball.” He advocates paying off bills with the smallest balances first, knocking them out one by one.
Followers and fans say the debt snowball is a motivational, emotionally satisfying way to get out of debt. Critics point out that paying off bills with the highest interest rates first would save money in the long run.
Bigger picture
Ramsey’s “debt snowball” method is part of a larger program called Baby Steps. The program is explained in detail at CashMoneyLife, and these are the seven Baby Steps:
- Start a $1,000 emergency fund
- Pay off debt using the debt snowball
- Have three to six months of expenses in savings
- Invest 15 percent of household income into Roth IRAs and pre-tax retirement
- Create a college fund for your children
- Pay off your home early
- Build wealth, give and invest
Ramsey calls his series of classes and motivation speeches on financial independence “Financial Peace University.” You can find out whether he is giving a seminar in your area at DaveRamsey.com.
Spreading hope
In a video on his Town Hall for Hope web site, Ramsey talks about the fear Americans feel regarding the economy and the recession. He says “most things that are fear-based decision making cause you to make the wrong decision.”
The site is filled with testimonials from people who have benefited from Ramsey’s common-sense approach to finances. He advocates that people live within their means and “use a system our grandparents used.”
Widespread anti-panic
Ramsey’s Town Hall for Hope is being hosted at more than 5,000 venues across the country. Although his focus is financial advice, eliminating debt and controlling spending, he does preach faith in God at the same time.
