Great subject! My first thought as I started reading this is that Dave Ramsey would so completely disapprove of your crypto investments. :)
I love listening to the Dave Ramsey radio show here in LA on AM1150 when I'm in the car. I haven't taken his class and don't need it, but I enjoy listening because (terrible I know) I love hearing about other people's financial situations. It's such a taboo subject that we're always raised and told is not an appropriate conversation to have with people. I think that's why so many people have problems with their money because nobody teaches them and they think it's inappropriate to ask someone about it.
I think Dave Ramsey is a great tool for people who really want to reign in their spending and eliminate debt in their lives. Some of the stories people tell are very inspiring. But where I diverge from Dave are things like mortgages. As long as it's not an overwhelming cost, I don't think carrying a mortgage is terrible. I also use a credit card for everything but pay the balance every month, mostly because I love getting the airline miles. Credit is a powerful tool and plenty misuse it, but I just can't see getting out of having a credit score altogether which he almost encourages with his methods.
But where Dave shines is making your money work for you. Putting money into mutual funds/stocks still has proven to be more successful than anything else over a long period of time. I'm still a believer in it. But like you, I think there's value in crypto and think it's worth putting a small percentage of investment in it.
But to your overall point, having a budget is a great thing. When you get lazy and stop paying attention, little expenses you're ignoring start adding up and can be very costly over time. That's money that could be used somewhere else.
Great topic for people to think about!
Great points and thoughts. You are exactly right that Dave would not approve of the crypto investments! I enjoy listening to the radio show too and like hearing others financial situations and his proposed solutions. Thanks for posting.
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