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     2 months ago  

    Problems with Personal Finance Shows

    • 🚨 There's little to learn from these shows, and they can cause financial stress.
    • 📊 The hosts are often wrong about basic financial information and give confidently incorrect advice.
    • 🚫 The shows don't provide practical solutions to financial problems and instead focus on ridiculing guests for their financial decisions.

    Issues with Dave Ramsey's Advice

    • 🤦‍♂️ Ramsey advises paying off debt using the "debt snowball" method, which prioritizes paying off smaller debts first, regardless of interest rates.
    • 📈 He recommends investing while paying off debt, even if the interest rates on the debt are higher than potential investment returns.
    • 📊 Ramsey suggests living on 8% of retirement savings, which is higher than the recommended 3-5% by financial professionals.
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       2 months ago  

      Consequences of Trusting Fin-fluencers

      • 🚨 People who trust finfluencers like Dave Ramsey may follow their advice blindly, leading to financial harm.
      • 📊 The confidence of finfluencers can be damaging to their audience, as people may not question their advice.
      • 🚫 The promotion of fraudulent businesses, such as timeshare exit companies, can lead to significant financial losses for viewers.
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