Monday, March 31, 2008

Money Management

Crown Financial vs Dave Ramsey

Both are Christ centered trying to get people to use money better. Why should someone choose one or the other?

Sick and tired of being in debt, not being financially free, not having enough money? Both

Have too much money and don't know how to use it? Both

Are you very conservative? Crown.

Do you need a cheerleader with lots of energy? Ramsey.

Do you make each choice through verses in the Bible? Crown

Do you try to not take the Bible so literally but as a general guide? Ramsey

Since i graduated college I have listened to crown's half hour radio show. Applied the theories in my life, saving much, spending less than I earn paying off my debts. All in a conservative way. Great stuff, it has allowed us to fix up a house and sell it at a loss and feel no worry. It has given us more than a years living expenses so we could prep and return from a year volunteering in India.

But still when I would talk about Crown and financial management with friends many of them would respond about Dave Ramsey. Seeing how I have studied to be a coach for people to follow crown's principals I thought I would take the time to understand Dave. For the past month I have downloaded his 39 minute free podcast and listened to it with Nancy.

So much of the foundations and steps are the same between Crown and Dave. But as Dave has a 3 hour / 15 hour a week talk show... six times as long as Crowns 1/2 hour daily he can cover many more topics, he can afford to be looser and less organized.

Yet at the same time he cuts deeper... reached crisis and have the house being repossessed and credit and medical bills chasing you? Pay the house and let the dogs cry in the night. Set priorities "if you can only pay for one thing this month what will it be? -basic food" Next shelter next... next... last vacation. Dave encourages people to drop everything when in debt and fight it off until it is gone gone gone. Don't worry if people are not happy in the process, keep them informed that they will be paid... just not first.

I have even learned something from the way the two companies are organized. Dave and financial peace is based so much on his personality and him. When he dies so will his coaching and energy. Crown is less dependant on a single person... they have already survived the loss of a leader. The loss hurt but they go on. If I am involved in an organization I will set it up like Crown. I am key but not THE key, Christ is.

The truth is as a Crown Money Map Coach there will be times that I will tell people they should look at Dave (financially a competitor because both sell products that are the same) But with good reason, if someone needs the energy to stick with the program all the way to step six or seven then so be it... why let them fail because of my selfishness?

Dave has done one other thing of great value to our family... read about that in the next post.

No comments: