![]() Stamps alleges that her departure from the company was further expedited once the United States Supreme Court June 15, 2020, ruling in Bostock v. Company policies regarding marriage, sex and homosexuality Īccording to a September 2021 lawsuit, when Julie Anne Stamps, a Ramsey Solutions employee on the customer care team, approached her supervisor regarding coming out as a lesbian in May 2020, the supervisor explained that company policy would not allow Stamps to continue to be employed at Ramsey Solutions. The incident prompted increased backlash, a meeting Ramsey set up to confront alleged critics, and the eventual deletion of several of the critical Twitter accounts. At company staff meetings, Ramsey allegedly recounted conversations from a private Facebook group of former employees that he had infiltrated, eventually offering cash rewards for the identities of some members who took to anonymous Twitter accounts once they realized Ramsey had joined the private group. In 2014, The Daily Beast reported that Ramsey had lashed out against former employees he claimed were discussing working conditions at the company on Facebook and Twitter. Ramsey's investing advice has also drawn criticism over its reliance on stock investment, as opposed to bonds, using mutual funds with load fees, and its frequent claim of 12% annual returns on investments. The debt snowball method is frequently debated, and studies have returned results that both support and oppose its efficacy. Criticism Ĭritics of Ramsey's core teachings point out that they are often a "one-size-fits-all" approach that both disregards income disparities and ignores financial emergencies. Ramsey encourages people not to take on student loan debt and calls the idea that student loans are required for college "a myth". Ramsey encourages the use of cash and advises families to utilize an envelope system, putting a cash allocation for each month's food, entertainment, etc., in separate envelopes and then spending only what is in the envelope. At live shows, he sometimes takes out his wallet to show audiences the "only four pieces of plastic" he carries: A business debit card, a personal debit card, a driver's license, and a concealed-carry permit. Ramsey adamantly opposes the use of credit cards. Ramsey advises listeners to first reduce debt using the debt snowball method, where debtors pay off their lowest balances first. He was inducted into the National Radio Hall of Fame in 2015. Ramsey has written five books for adults, three of which were New York Times bestsellers, and six children's books. The company's headquarters are located in Franklin, Tennessee, and a new 47-acre campus opened there in 2019. The Dave Ramsey Show aired on the Fox Business Network from 2007 to 2010. The Gannett newspaper group ran his financial column, though it was dropped when they realized that Ramsey had changed the names on the letters to which he was responding. įinancial Peace University, Ramsey's nine-lesson, $129.99 video-based personal finance course, debuted in 1994. The show eventually became The Dave Ramsey Show, Ramsey's daily three-hour call-in financial advice talk show. Ramsey began as one of three alternating hosts of The Money Game on radio station WWTN/Nashville in 1992. In 1988 he founded the Lampo Group, a financial counseling service, and in 1992 he wrote and self-published his first book, Financial Peace. Ramsey experienced several years of financial recovery and began offering financial advice to couples at his local church. Ramsey was unable to pay and filed for bankruptcy in 1988. However, when the Competitive Equality Banking Act of 1987 took effect, several banks changed ownership and recalled his $1.2 million in loans and lines of credit because he was over-leveraged. īy 1986, Ramsey had amassed a significant portfolio worth over $4 million. At age 18, Ramsey took the real estate exam and began selling property, working through college at The University of Tennessee, Knoxville, where he earned a Bachelor of Science degree in Finance and Real Estate. He attended Antioch High School where he played ice hockey. Ramsey was born in Antioch, Tennessee, to real estate developers. 2.2.1 Company policies regarding marriage, sex and homosexuality. ![]()
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