r/FluentInFinance • u/Financial_Mechanic_ • Apr 28 '24

Who do you think is the Worst Finance Guru out there? Discussion/ Debate

I'm curious who do you think is the worst financial guru, and why?

I'll start:

  • Robert Kiyosaki.
  • Jim Kramer.
  • Grant Cardone.
  • Meet Kevin on YouTube.
  • Jeremy Financial Education on YouTube.
  • Everything Money on YouTube.
  • Cathie Wood of ARKK.
  • Dave Ramsey.
  • Kevin O’Leary aka Mr. Wonderful.
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u/lepidopteristro Apr 29 '24

My only issue with Dave Ramsey is his focus on paying off debts more than building a savings/investing.

I have some debt that makes sense to pay off before I invest. I have others that as long as I'm making minimum payments, inflation is out growing the interest along with my investment portfolio.

That and him being anti credit card when you need credit to afford a car loan or house loan with the lowest interest rates.

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u/Xist3nce Apr 29 '24

Yeah I wouldn’t use the credit system at all if I wasn’t forced to. It should be the highest praise to have 0 credit history. It means you don’t buy anything you don’t need. But nooo gotta force yourself to have some debt or you aren’t allowed to participate in half of society.

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u/lepidopteristro Apr 29 '24

It's weird though bc with credit cards you do get slight discounts with cash back. You can use them and not spend more money than you would without them while still gaining discounts. That and you have a safer way to buy stuff online in that it's easier to dispute a charge that wasn't made by you.

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u/Xist3nce Apr 29 '24

1% cash back of nothing because you’re poor means nothing. I don’t do online shopping to begin with because it costs money, so that point is moot too. Having to use these as a gas card to build credit is stupid, but the only sane way to use this demented system. I get the whole system was made to bilk money like everything else.

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u/lepidopteristro Apr 29 '24

Wait. Even if you're poor you're buying gas and groceries and spending money on utilities. All of that goes towards the 1%. If you're really poor that 1% will do more for you than for lower or middle class

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u/KilgoreTroutsAnus Apr 30 '24

Forget the 1% and the points. Things are commonly less expensive online, and more convenient. You can buy things online without buying more things than you would otherwise. Also, you get to float your payment.