[ericcope]

I strongly recommend Dave Ramsey's approach to credit scores. Credit scores are a measure of much much debt you can carry. If you carry a load of debt and pay it off, your score goes up so people can lend you more debt. That's the wrong question. The proper question is how can you remain out of debt and build your wealth? You don't need a credit score for that. As a 30something looking back at 10 years of debt, I totally regret it. Carrying debt is heavy on the soul and limits your options. Debt free living really is liberating.

http://www.daveramsey.com/article/the-truth-about-your-credi... http://www.daveramsey.com/new/baby-steps/

[Loughla]

So, having worked with Ramsey trainers and Ramsey disciples, and having worked (in a very cursory manner) with the program myself, most of what he teaches falls into three categories: 1. I lack self-control or 2. I lack basic math skills.

I've also noticed that without Dave, those that strictly adhere to his program have an incredibly difficult time making money and budget decisions on their own.

A credit score can save you money in the long run. Very few people can pay cash for a vehicle or a home. Better credit scores allow you to reduce these payments and interest in small fashions.

Also, while a credit score is a measure of how well you handle debt, why not get a good one? Charge gas, groceries and regular incidentals, pay it off every month. Get a card with cash-back, and earn free money for spending you would already be doing.

Credit isn't a devil out to destroy your life. Like anything else, it's a tool to be used appropriately.

[obelos]

Dave Ramsey's sledge hammer method is geared for those tending toward the innumerate end of math skills and the low end of self-control. They are simple, unqualified “baby steps” and rules that don't require one to understand any nuance to personal finance. They are not an optimum and don't really pretend to be. There are several rules he offers as non-negotiable that, for those who have even marginally above average money skills and self-discipline, end up costing their practitioners more money in the long run. It's a good program for those who suddenly find themselves buried in debt and don't understand how they got there; it's less suited for those who are already doing well or have a clean slate.

[waterfowl]

Yeah, you shouldn't need credit for anything but a house(or if you're in a REALLY tight situation and need to finance a cheap used car to avoid endangering your livelihood).

People like to trash on Dave because he's religious(and very vocal about it) but I view it like AA/NA/etc(i.e. whether or not you believe the religious part seems to be unrelated to the positive effects of "working the program").

I think he's great.