I had heard of Dave Ramsey after the SLA flash survey on financial literacy when a few respondents talked about his program in glowing terms. I found out more about Dave Ramsey after reading this article in the Atlantic Monthly "Lead Us Not Into Debt":
Here is an excerpt:
One of his most popular recommendations involves stuffing cash in envelopes:
As for education debt, Ramsey remains unwavering in his disdain for all forms of debt:
There’s some evidence that he’s right about this; a study by the economists Stacy Berg Dale and Alan Krueger famously found that students who were accepted by schools with high average SAT scores, but chose to go somewhere else, earn about the same as those who actually attend the higher-ranked school. But there is also evidence to the contrary; and what nice upper-middle-class family is willing to, well, gamble with their child’s financial future?"
With growing evidence that more shoppers are putting away the credit cards and paying with cash, it appears that Ramsey's message is getting across to some.