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Joe-Bob posted:I'm curious, what's so bad about his practices for his practitioners? I don't know a whole lot about him, but I suppose that his "debt snowball" approach is not always optimal since your smallest balance may not be your most expensive balance. Is it the 10% tithing thing that's ruinous? Or is there something else going on here? His advice is kind of harmless if you already have money and you literally just need somebody to tell you, "hey pay off your CC instead of buying that new jet ski." If you're someone who's not making a living wage(a lot of people) or are like one health crisis away from bankruptcy(probably most of the US) then it's harmful because it starts from the false premise that you actually have control over your financial life. Most people in the US are not actually in any position to control their financial future due to factors outside their control(falling wages for decades, no universal healthcare system, healthcare costs through the roof). So he's just convincing a bunch of people who just literally don't have enough money to cut any "luxury," and then also reduce their income by 10% by giving it away to religious institutions. Neither of these things are going to prevent any kind of bankruptcy or actually lead to savings leading to wealth. It's just-world stoic-poor personal-austerity-plan bootstrap bullshit. ErIog fucked around with this message at 01:16 on Jul 21, 2017 |
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Jul 21, 2017 01:14
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