Three things Ramsey overlooks, based on my listening to his radio show but not doing his programs:

1) “Credit doesn’t matter if you don’t borrow money.” 100% false! Try getting insurance with a defective credit score! Also, how many prospective employers look at your credit profile? I’m sure there’s a lot more that hinges in credit, but Dave is insane on this issue alone.

2) “Credit cards are bad - cut them all up.” Whaaaat? Pay it off every month and enjoy the benefits of whatever points program you choose.

3) “Taxes don’t exist.” He does not actually say that, but he does not acknowledge taxes either. Following Dave’s line of thinking, a couple making $100,000 a year can live on half their income and pay off $150,000 debt in exactly 3 years. I don’t think so. Federal income tax, FICA and Medicare diminish a lot of that debt-attack power.

Another thing Dave overlooks is how the hell do you buy a house today by just saving and avoiding a mortgage? Understood that once you get the ball rolling with one house, there’s some leverage to be had. But that first home may never happen via disciplined savings in most US markets.

Ramsey seems like a level-headed, nice guy, devoid of malevolence. If you follow his program, you’ll probably do well versus just coasting along. But their seem to be some holes in his philosophy. Rice and beans, beans and rice has its place, but there are more pieces to the puzzle.