Some Financial Advisors out there are so focused on debt reduction, that they can hamper your ability to make money. Why? Because they’re people. And like anybody, their behavior can be conditioned by experience. But when that experience is irrelevant to your financial situation, it can condition some to be inefficient.
Take the example of well known radio host Dave Ramsey, who’s financial advice show takes a Christian angle. It’s common knowledge that Ramsey got himself into horrible debt. And while he very admirably clawed his way out of it, this made such a huge impact on him that it colored everything else in his life.
Dave Ramsey’s advice can be detrimental to some people, because it is focused on debt instead of focusing on building wealth. For some people, his programs are perfect for getting back to square one. However, for others, they advise exactly what not to do.
Kingdom Calling can actually show the indebted how to get out of “debt” far quicker than often prescribed methods. For those who aren’t in serious debt, such advice is really not of much value. Much of what is called for falls right in line with other financial advice and has all the latent problems I’ve been discussing in my last few posts.
It’s not just Dave Ramsey. Many others giving Christian financial planning advice have suffered the same wound of indebtedness, and are giving advice from a the perspective of someone who survived the wound – instead of as someone who is building wealth. Two very different perspectives which make all the difference in the outcomes we accomplish.
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