5 Reasons I Believe Dave Ramsey is Not a Financial Coach -The Financial Coach Academy Podcast EP. 20
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- เผยแพร่เมื่อ 29 มี.ค. 2023
- If you read the title of this episode and had an immediate reaction, you’re not alone. Dave is a marketing GENIUS, but he’s not a financial or money coach. In this episode, I’m going to break down the reasons that I believe Mr. Ramsey is not a financial coach, though you’re welcome to disagree with me - it’s your opinion that matters! All that being said, I recognize that Dave Ramsey has helped thousands of people…as a financial educator. So today, I’m going to break down what the differences are between financial coaching and financial education (and why that matters in the first place).
#financialcoaching #financialcoach #financialadvising #financialadvisors #financialcoachacademy #kelsadickey #financialcoachtraining - แนวปฏิบัติและการใช้ชีวิต
I watched this video in its entirety. I think all of the points you made are valid. I think there is at least some nuance to this since the Ramsey Show does not claim to be financial coaching (specifically the show itself). It is a podcast/radio show that only has short segments allotted to each caller and scenario. Dave's mannerisms certainly come off as cold or black/white a lot of the time, however the purpose of a podcast or radio show is to be entertaining and engaging to an audience first, and possibly educational or helpful second. The way he speaks engages his audience, the same way that you engage yours. Ramsey often recommends financial coaches or advisors as an action for after these calls, which further drives my opinion that he isn't trying to fill the role of a coach, at least not during the show.
This was my first time watching one of your videos. I came here searching for new perspective, and I am glad that I stumbled onto yours! I like your production quality and I have no doubt that you will continue to help many and be successful!
Thank you for watching and commenting! I hope you’ll enjoy a few others. I agree with much of what you added and appreciate you taking the time to share your thoughts!
Dave Ramsey does always say that he approaches callers’ questions from the perspective of “What would I do if I woke up in your shoes?” So yes he just tells people what to do. I would imagine if it was more one-on-one, there would be more dialogue/conversation, not just saying what he would do/what the caller should do.
Kelsa, I agree with you. The problem with his show is that each phone call is no longer than 5-7 minutes. The introductory sessions I do with my clients for 20-30 minutes aren't nearly enough to solve one problem. I met Dave's personalities last year in Nashville, and I got to talk to them about their approach with their phone calls. They just simply don't have time to talk to everyone for more than 5 minutes. I look at Dave's show from a different perspective. I listen to his clips almost daily because my clients ask me questions about what I think. I hope everyone else can form their own opinions like Kelsa did in this episode. Good stuff
Yeah, I don't know ANYTHING about the other DR personalities. I am just not in touch with the show enough these days, which is why this was more focused on his responses. Other personalities of his show may take a more coaching approach, I truly do not know one way or the other because I don't tune in enough to know. I'm glad you've found a way to take advantage of the benefits his show offers for you and the people you serve.
Also, thank you for commenting and sharing your thoughts/perspective- always appreciated!
It’s a radio show? I don’t think you know what it’s like to be an entertainer.
I agree that Dave has helped thousands BUT some of the methods are not coaching. Great episode!!!!!!!!!!!!!!!!
Exactly! Thanks for sharing your thoughts and for commenting Anthony!
Congratulations on an episode that is so provocative, fun, and educational all at the same time. #moreplease I'm a graduate & facilitator of FPU & Legacy Journey and will be forever grateful for the transformation the Baby Steps helped bring to me & my family. And I agree with the contents of your episode. When I was drowning in debt I wasn't looking for a coach, I was looking for a plan to follow. And it worked out great. Now I'm an aspiring financial coach & counselor and really appreciate how you demonstrated the power of the coaching model while at the same time underscoring the powerful role that worldview/values play in coaching engagements.
Love this Travis! Thank you for sharing your thoughts after listening to the ep. I can totally relate to so much of what you said. I, too, am grateful to DR and the work he's doing to help people in his way.... AND.... that's not the same as coaching. One is not BETTER than the other necessarily (some people want the DR way as you said), but they ARE different and it is important to know that. Thank you for being open to the nuance I was trying to explore in this ep.
Dave Ramsey always wants to answer questions where he is right, he hates saying he does not know, then he has to answer the question as if he knows.
I'm only half way in Kelsa and I am loving your passion! So many great points! And I'm feeling all fired up over here thinking of these people who need help but are settling for 2 mins of Dave advice when so many FC are ready and willing to help them create an approach that works for them. So great that we have so a great mentor whose able to guide us to be better coaches!
YES! I am so glad this got you fired up! People don't need general advice, they need personalized advice. That's where the REAL value comes from!
Kelsa I’m only halfway through but I already agreed with this when I clicked. Although I got debt free and certified through Dave & FPU, he is definitely not a coach. One piece of evidence of this is how much trouble people have creating their budget while enrolled in FPU. There isn’t even a lesson on it! We have to add a week to FPU when we do it because the budget is the number one thing that makes every other baby step possible! Add to that how every single budget is so unique and needs hands on work. He is great, but the help on the budgeting and implementing things like what he teaches is what coaching is. Also, one of our hooks is “Do you want to get out of debt but you don’t want to live on rice and beans?” 😂
"Do you want to get out of debt but you don't want to live on rice and beans" --> I love it! And you're right, every single budget is so unique and requires hands on help. It's why we're so needed as financial coaches!
I found Dave Ramsey in 2017, Listen almost daily. I found with Dave Ramsey, he has no business answering Canadian financial questions, because Canada has a entire different financial system, Canadians credit scores are 100% tied to what type of mortgage they get. Plus I hate it when Dave answers callers who are on SSI-Disability. He comes from a 100% able body perspective. He doesn't have to worry about a government social assistance programs does to someone who is daily living with their disability and have to still achieve life and financial milestones.
Personally I altered my baby steps plan to adjust my life as a disabled person, single and a Canadian resident. Also Canadian credit bureaus do not operate the same as it does in the USA. So the more I got my financial house in order the more I realized Dave Ramsey is in it for Dave Ramsey.
That makes sense Minnie! Thank you for taking the time to share your thoughts and perspective after listening to the ep!
One of the most mundane examples is his dogma that credit cards and paying them off monthly is bad because studies show more is spent that way..Thatis flawed ,sayong that the lowest level of spending is desirable and also assuming the client has no discipline or free will
I completely agree. In my opinion, his dogma is based on the idea that people are stupid, make stupid decisions, can't spend and still make smart decisions and overall can't be trusted with money. It is simply not the way I view people and their potential personally.
🔥💥THIS episode!!!🔥💥
Thanks Jaclyn! So glad you enjoyed it!!
He uses a hammer of an answer when nuance is needed. He embraces insults which is contrary to his Christian shtick and it is a schtik.
So true
Amazing...and agree with it all! I'm so glad I'm not alone on this. What is that you truly want, how fast do you want to get there and why?
Powerful question right there!! 🙌
Dave Ramsey has an entertaining show. He or his team wouldn’t say he is coaching during the show. Your views would be better if based on how actual coaching occurs within the Ramsey framework. The Financial Coach Master Training (FCMT) that they give that teaches coaches how to give coaching is flexible and very focused on the client. The key to coaching is to dig deep and understand what the client actually needs. Listening to his episodes is not representative of what he and the overall program consider coaching.
Thanks for sharing your thoughts Nick. I've taken FCMT myself so know what he teaches inside the course. I hope he’s improved it since I took it years ago. But at that time I found it rudimentary and significantly missing any specific coaching methods, models or modalities besides asking questions and listening. I hope you'll check out some of my other episodes as well! Thanks for taking the time to listen and share your thoughts!
@@FinancialCoachAcademy I will. At the end of the day my goal is to become as well rounded as possible. Have a great day!
@@nickperiat9427 that’s a perfect goal to have! We’re all always students of this craft. Episode 69 won’t drop until mid-June but I provide a hot sheet of dozens of different coaching methods and frameworks that can be applied in different situations. I think you’ll love it! I’ll try to remember to pop back here when it drops but I’m case I forget, make sure you subscribe!
I went to listen to his videos after watching this one. He talks about becoming a millionaire in 12 years with the 7 baby steps. One of the steps is to save 15% of your salary.. if one makes 50K, saving 15% (not even counting the tax deductions) that's 90K in 12 years. His show is such BS! People love hearing easy things and don't even do the math. Becoming a millionaire sounds great, and every video out there with that title has millions of views. But people don't realize it's all BS. If it was that easy, we all would be billionaire! I am saving 50% of my net paycheck since I started working after college. That was 7 years ago and I still don't even have 500K in my savings account. It all depends on your salary, someone making 200K might be able to become a millionaire in 12 years but not someone making 50K.
Oh interesting... never even considered that or really did the math on it!
Why is $500k in a savings account?Every financial advisor and guru I've ever heard says that it's investing over time, not saving, that gets you to millionaire status. Dave is fully in the mainstream on that.
Ramsey gives terrible investment and mortgage advice. Good on getting out of credit card debt, but lousy on coaching. It's malpractice. If I had followed his stupid advice on managing debt and mortgages, I wouldn't have my current six-figure retirement account. Even his baby steps are flawed.
It sounds like we share some similar viewpoints and that this video resonates with you, we're glad that you were able to watch. Also congratulations on your wonderful retirement accomplishment!
He obviously is and I got outta debt cause of him. Jealousy isn’t a good trait to have
I agree- I’ve actually designed a full coaching concept around jealousy, it’s impact on your financial progress, how to help a client self-identify these traits and work through feelings of jealousy. It’s one of the over 100 financial coaching concepts I’ve created over the past decade. I hope you’ll watch the video!