Abstract
Author and radio host Dave Ramsey advises millions of people on personal finance. Starting from the assumption that people are not good at maximizing their own utility, he recommends a rules-based approach that often directly contradicts conventional instruction in personal finance. This article shows how Ramsey’s recommendations follow from his behavioral assumptions and highlights some of his specific recommendations about financial products and services that are at odds with traditional personal finance. After making these contrasts, the article outlines implications for educators who, whether they agree with Ramsey’s approach or not, should understand the strengths and limitations of his approach.
Recommended Citation
(2026)
"Dave Ramsey’s Personal Finance: A Primer and Critique,"
Journal of Economics and Finance Education: Vol. 19:
Iss.
2, Article 4.
Available at:
https://scholarship.rollins.edu/jefe/vol19/iss2/4
