Unless the copyright status of the text of this page or section is clarified and determined to be compatible with Wikipedia's content license, the problematic text and revisions or the entire page may be deleted one week after the time of its listing.
What can I do to resolve the issue?
If you hold the copyright to this text, you can license it in a manner that allows its use on Wikipedia.
To confirm your permission, you can either display a notice to this effect at the site of original publication or send an e-mail from an address associated with the original publication to permissions-enwikimedia.org or a postal letter to the Wikimedia Foundation. These messages must explicitly permit use under CC BY-SA and the GFDL. See Wikipedia:Donating copyrighted materials.
Note that articles on Wikipedia must be written from a neutral point of view and must be verifiable in published third-party sources; consider whether, copyright issues aside, your text is appropriate for inclusion in Wikipedia.
Otherwise, you may rewrite this page without copyright-infringing material. Your rewrite should be placed on this page, where it will be available for an administrator or clerk to review it at the end of the listing period. Follow this link to create the temporary subpage. Please mention the rewrite upon completion on this article's discussion page.
Simply modifying copyrighted text is not sufficient to avoid copyright infringement—if the original copyright violation cannot be cleanly removed or the article reverted to a prior version, it is best to write the article from scratch. (See Wikipedia:Close paraphrasing.)
For license compliance, any content used from the original article must be properly attributed; if you use content from the original, please leave a note at the top of your rewrite saying as much. You may duplicate non-infringing text that you had contributed yourself.
It is always a good idea, if rewriting, to identify the point where the copyrighted content was imported to Wikipedia and to check to make sure that the contributor did not add content imported from other sources. When closing investigations, clerks and administrators may find other copyright problems than the one identified. If this material is in the proposed rewrite and cannot be easily removed, the rewrite may not be usable.
Add the following template to the talk page of the contributor of the material: {{subst:Nothanks-web|pg=Dave Ramsey|url=ISBN 0-7852-6326-8}} ~~~~
Place {{copyvio/bottom}} at the end of the portion you want to blank. If nominating the entire page, please place this template at the top of the page and set the "fullpage" parameter to "yes".
[[Category:Wikipedia pages tagged for copyright problems|]]
Dave Ramsey (b. 1960) is a Christian United States nationally syndicated talk radio host and New York Times best selling author[1]. His syndicated radio program, The Dave Ramsey Show is promoted with a tagline that it is about "Life and Money" and is heard on over 300 radio stations throughout the United States and also on XM and Sirius satellite radio, as of July 2006.[2] Ramsey's current company, The Lampo Group, operates out of Brentwood, Tennessee and oversees three divisions geared towards financial counseling. He has written over fourteen books, three of which have been on the New York Times Best Seller list. He is also the creator of a 13-week video training series known as Financial Peace University, and a school program known as Financial Peace for the Next Generation that has been offered in more than 1,200 schools in 46 states.[3] A revised edition of The Total Money Makeover was released on February 6, 2007.[1] He has been featured on many media outlets including The Oprah Winfrey Show, 60 Minutes, and The Early Show on CBS. Currently he is involved in a development deal with CBS.[4]
Background
David L. Ramsey, III was born in Antioch, a city in Tennessee and raised in Nashville, also inm Tennessee. Ramsey received a Bachelor of Sciences degree with double majors in Finance and Real Estate at the University of Tennessee in 1982[2], shortly thereafter finding a niche market in foreclosure real estate. At the age of 26, through his brokerage firm Ramsey Investments, Inc. he had built a rental real estate portfolio worth more than $4 million. He became one of Tennessee's youngest brokers to be admitted to the Graduate Realtors Institute.[5]
Dave's debt-fueled success soon came to an end as the Tax Reform Act of 1986 began to negatively impact the real estate business. One of Ramsey's largest investors was sold to a larger bank, who began to take a harder look at Ramsey's borrowing habits. The bank demanded he pay $1.2 million worth of short-term notes within 90 days, forcing him into bankruptcy court.[5]
After years of hardship through determination never again to return to debt Ramsey began to recover. People began coming to him asking how he made it through, and Ramsey eventually began counseling couples at his local church. Soon after offering private counseling services, Ramsey began attending every workshop and seminar on consumer financial problems that he could find. He developed a simple set of lessons and materials based partially on his own experience, and after many requests from his clients, in 1992 wrote his first book Financial Peace.[5]
Dave Ramsey has been married to his wife Sharon, for over twenty four years, and has three children, Denise, Rachel, and Daniel. The family resides in Nashville.[5] Ramsey's protestant Christian beliefs have formed a fundamental influence in his life and, over the years, a growing presence on his radio show.
The Lampo Group, Inc.
Ramsey founded the Lampo Group in 1991[6], initially helping people one on one who were struggling with financial issues. In 1994 he hired Russ Carroll, Ramsey's lead financial counselor, and together they began teaching the first Financial Peace University classes on overhead projectors.[6] Between 1999 and 2004, The Lampo Group grew from 18 to 105 team members.
Ramsey claims to run his business completely debt free, an accomplishment he states was critical to the success of his company.[7]
The Dave Ramsey Show
The Dave Ramsey Show is a three-hour, self-syndicated radio program and podcast that airs Monday through Friday, from 2-5 EST. It is primarily broadcast from Brentwood, Tennessee, though during the summer it is broadcast via remote from Ramsey's lake house.[2]
Ramsey takes numerous calls on the theme of finance and, occasionally, money-related Christian philosophy as it pertains to tithing, etc. During the show, Ramsey discusses various life and money-related issues with callers. One notable difference between his and other financial shows was that Ramsey attempts to go beyond the mathematical mechanics and reach his callers through an emotional and spiritual level.[8]
The program began in 1992 when Ramsey, while selling copies of Financial Peace out of the trunk of his car, was a guest on 99.7 WWTN.[6] The station had recently filed Chapter Eleven bankruptcy and one of its hosts had quit after not getting paid, leaving the station scrambling to fill the hole in its lineup. Ramsey offered to do a one-hour show for free for one month, not entirely expecting to be successful. "The Money Game" went on the air with Ramsey co-hosting, along with a friend of his[9], presumably either Hal Wilson[10], or Roy Matlock[11]. The program was quite popular in Nashville. Reportedly, when WWTN asked Ramsey who would be syndicating his show, Ramsey simply pointed to Blake Thompson, who continues as executive producer of the show to this day. As Bill Hampton, Vice President of The Lampo Group stated, "they learned syndication from the ground up."[7]
"The Money Game" changed its name to "The Dave Ramsey Show" in mid 1996.[5] As of 2006, the show is heard in over 300 markets.[12] In 2006, the show received two nominations for the 2006 Radio & Records News/Talk Industry Achievement Awards. It is the fifth year in a row for Dave Ramsey in the "Syndicated Personality of the Year" category, and the second year in a row for Bill Hampton in the "Executive of the Year" category.[12]
On the success of the show, Bill Hampton has stated that the show did $2.5 million in network sales in 2005, while MyTMMO.com did $1.2 million. He also stated the show would bring in an estimated $3.7 million from advertisers.[7]
Publications
Additionally, The Total Money Makeover, Financial Peace Revisited, and More than Enough are available in Spanish.
Financial advice
The Total Money Makeover: A Proven Plan For Financial Fitness
Hardcover: 224 pages
Publisher: Nelson Books (September 11, 2003)
ISBN 0-7852-6326-8
Total Money Makeover Workbook
Paperback: 240 pages
Publisher: Nelson Impact (January 21, 2004)
ISBN 0-7852-6327-6
Financial Peace Revisited
Hardcover: 352 pages
Publisher: Viking Adult (December 30, 2002)
ISBN 0-670-03208-5
The Financial Peace Planner: A step-by step guide to restoring your family's financial health
How to Have More than Enough: A Step-by-Step Guide to Creating Abundance
Paperback: 336 pages
Publisher: Penguin (Non-Classics) (April 1, 2000)
ISBN 0-14-028193-2
The Money Answer Book: Quick Answers to Everyday Financial Questions
Paperback: 160 pages
ISBN 0-8499-9619-8
Kids' books
The Super Red Racer: Junior Discovers Work
Hardcover: 32 pages
Publisher: Lampo Press (January 2003)
ISBN 0-9726323-0-1
Careless At The Carnival: Junior Discovers Spending
Hardcover: 26 pages
Publisher: Lampo Press (October 2003)
ISBN 0-9726323-1-X
The Big Birthday Surprise: Junior Discovers Giving
Hardcover: 26 pages
Publisher: Lampo Press (October 2003)
ISBN 0-9726323-2-8
My Fantastic Fieldtrip: Junior Discovers Saving
Hardcover: 26 pages
Publisher: Lampo Press (October 2003)
ISBN 0-9726323-3-6
A Special Thank You: Junior Discovers Integrity
Hardcover: 32 pages
Publisher: Lampo Press (August 2005)
ISBN 0-9769630-0-0
Battle of the Chores: Junior Discovers Debt
Hardcover: 32 pages
Publisher: Lampo Press (August 2005)
ISBN 0-9769630-1-9
Contributions
48 Days To The Work You Love by Dan Miller, Forward by Dave Ramsey
Hardcover: 224 pages
Publisher: B&H Publishing Group (January 2005)
ISBN 0-8054-3188-8
Other Ramsey programs
Live events
Dave Ramsey' five-hour live events and are largely based on the Total Money Makeover, incorporating humor and financial advice. [13] Beginning in 2007 a prerecorded video stream of a live event was also offered online at Ramsey's website.
Endorsed Local Providers (ELP)
ELPs are financial professionals who are essentially fans of "The Dave Ramsey Show", and for the endorsement of his program help local area Ramsey listeners with advice on investing, accounting, health insurance, real estate, and marriage issues. Part of the requirements of becoming an ELP is that the advisor "have the heart of a teacher," in that they are willing to explain products and how they work as opposed to selling products that simply make the most profit.[13]
Share It!
"Share It!" is a foundation created by Dave and Sharon Ramsey for the purpose of working with other nonprofit organizations such as housing initiatives, welfare-to-work projects, domestic violence shelters, drug and alcohol recovery programs, crisis pregnancy centers, youth outreachs, and high schools to help others become financially literate.[14] One of products sold on Dave Ramsey's website for which proceeds go entirely to this charity is the "Freedom" wristband.[3]
Financial Peace for the Next Generation
Ramsey created this program as a high school curriculum designed to make students financially literate.[13] Ramsey has stated on his radio program and during his Financial Peace classes that he created this program to directly combat curricula that were now being offered to high schools by the credit card industry.
Financial Peace University
Financial Peace University (FPU) is, as Ramsey refers to it, a "12-step program" of finance.[15] It is a 13-week series developed by Ramsey, involving DVD lessons and a discussion group. The intent of the group dynamic is to create accountability amongst members to help assist in the debt elimination process. As of January 2007, over 350,000 families have been through the course.[16] The program is available for churches, companies, military bases, financial literacy programs, Spanish-speaking organizations and community groups.[16] Ramsey began teaching the class in 1994, and in 1997 FPU was made available on video across the country.[16] The 13 DVD lessons include:[17]
Super Savers: About the importance of saving money.
Cash Flow Planning: Largely about creating and maintaining a budget.
Relating with Money: Mainly about marriage and family topics involving money.
Buying only Big, Big Bargains: A lesson in bargaining.
Dumping Debt: The longest lesson in the series, primarily focused on recognizing the reasons why a person should get out of debt and the methods used to do so.
Understanding Investments: Teaches the difference between various investments.
Understanding Insurance: Teaches the types of coverage needed when it comes to health insurance, homeowner and car insurance, life insurance, and disability insurance.
Retirement and College Planning: Expands on the investment lesson by explaining how to use various investments for retirement and college planning.
Buyer Beware: Explains the techniques used by the sales industry to get customers to spend more than they intend.
Real Estate and Mortgages: Explains how to buy and sell a home and discusses the different mortgage options available.
Careers and Extra Jobs: Places importance upon building worthwhile careers and gives suggestions on additional jobs for extra cash flow.
Collection Practice and Credit Bureaus: Primarily discusses tactics used by collection agencies, how to deal with them, and also how to clean up discrepancies on a credit report.
The Great Misunderstanding: Largely a discussion of Christian philanthropy, this lesson covers biblical concepts such as tithing and stewardship.
Trivia
After the death of Crocodile HunterSteve Irwin, Ramsey began editing out a reference to the conservationist from the "Super Savers" DVD portion of his Financial Peace University program. The edit was prompted by his commonly used phrase "When you play with snakes, you get bitten."
In 2004 Dave Ramsey's column was dropped from The Tennessean and four other newspapers owned by Gannett, Co. after it was discovered that the identities of those seeking help were falsified in several of his columns. Ramsey accepted responsibility for the error and offered refunds to the newspapers affected by the error.[18]
Ramsey's show is one of very few national radio shows to be self-syndicated. The program is not connected to any national network or programming service, and is distributed directly to local stations.
On August 10, 2006 "The Dave Ramsey Show" cut ties with Salem Communications, ending communication of the Dave Ramsey show on 21 of Salem's stations. Negotiations had broken down over "affiliate clears," which Ramsey felt was unfair.[8] A message on the KNUS2 website in Denver, Colorado, one of the Salem stations affected, states that "the long run of the Dave Ramsey show has come to an end,"[4] leading some to believe that the show was cancelled outright. A query from Ramsey's website however states the show is still carried through an AM Station in Brush, Colorado and both AM and FM stations in Colorado Springs.
Criticism
Criticism
Ramsey has been criticized in financial circles for offering simplistic solutions to financial issues. [19]
Ramsey is often criticized for stating that the stock market has a track record of 12% gains. Critics say this number is misleading as it refers to a 78-year period (few investors will stay in stocks for that long). Ramsey only recommends mutual funds as 5-year or longer investments, and only ones with a long track record of success.[20]
^ abcdeRamsey, Dave (2003). Financial Peace Revisited. Harmondsworth, Middlesex, England: Viking Penguin. p. 325. 0-670-03208-5. {{cite book}}: Unknown parameter |coauthors= ignored (|author= suggested) (help)Cite error: The named reference "GRI" was defined multiple times with different content (see the help page).
^Jan Duke. "The Money Game". About Nashville, TN. Retrieved 2006-12-03.
^ abBeth Tallent (2006). ""THE DAVE RAMSEY SHOW" ADDS 300TH STATION". daveramsey.com. Retrieved 2007-03-21. Cite error: The named reference "Ramsey Media Relations" was defined multiple times with different content (see the help page).