Head to head with Dave!
Rhonda asks why Dave blasts the United First Financial software. Dave thinks Rhonda can't do math. Rhonda thinks Dave doesn't know what he's talking about. Things get REALLY heated on this one!
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Head to head with Dave!Rhonda asks why Dave blasts the United First Financial software. Dave thinks Rhonda can't do math. Rhonda thinks Dave doesn't know what he's talking about. Things get REALLY heated on this one! |
Keep doing what your doing and pray for her and those she those she helps to dupe.
And gee, Rhomda, they used to calculate
amoritiztion by hand, for decades and decades.
While I agree that Rhonda was a bit loony, I'd ask you, where was your 'heart of a teacher'?
That's the sign of someone who doesn't have an answer. Great job Dave!
I love your passion, enthusiasm and "poop or get off the pot" attitude in regard to dealing with people's problems with handling their financial mistakes. I've learned so much from your show over the years. I'm one of those folks who need to listen to you over and over until it sinks in.
I must agree with Brian's earlier comment about where is your "heart of a teacher?" You did come off a bit rough and defensive. I think you are so intelligent that you have little patience for those of us less fortunate! You could've made your point in a somewhat calmer demeanor. That said, I hope you take more calls like Rhonda's, people who want to have a spirited debate about financial topics who may have a different point than you. In the end you will always be right (insert smile here) but I think it's interesting to hear a debate like that.
in the first year? 5.5% rate for $100K loan,
1st Month Interest
100K*(6.5%/12months)= $542 paid to interest
or
100K*(580%/12months)= $48,300 paid to interest
WOW! Sometimes it just hurts the mind to hear
people talk and argue nonsense.
awarded the Ernst & Young 2008 Entrepreneur of
the Year award (Utah Division) for Financial
Services. They are in the running for the National
award. Perhaps you and your listeners ought
to call E&Y and ask them why?
This concept is so new that it is going through
the typical incredulity that "far out" concepts
usually do when first launched. Don't knock it
if you don't know it. It works great!
Oh that's right I have morals
interest the first year of a loan that the interest percentage is higher. Interest is calculated on the
total amount borrowed, not on the amount of principle paid within a certain year. This is a total scam.
Does anybody realize that they want you to take a home equity line of credit out to do this? This completely
violates the idea of paying down debt! The reason Dave tore into her, I believe is that she was not
just some lady calling. She was a salesperson for this product. I'm glad he tore into her.
My understanding is that the software lets you better leverage your monthly excess cash to minimize interest payments using a second mortgage or (other debt instrument)and following the software. So obviously this software only works for people who are already spending less than they earn and have decent credit. It's admirable that Dave is trying to get people to that level but he still needs to prove - mathematically - that UFirst isn't worth $3500 to someone in their target market.
I know amortization schedules are easy Dave, but do us peons a favor and go through one, and then show how UFirst fails to save interest on it. (Oh and maybe mention how much interest is paid over the lifetime of a standard mortgage.) And yes, this software is rocket science...a GE engineer wrote it.
BTW, if we decide not to use our heads or look at the math, I'd easily take Ernst and Young's opinion over Dave Ramsey's. They have much more at stake and by the nature of their business have much more financial brainpower working for them. No offense. I <3 anyone who makes it his business to look out for the average consumer. Let's just make sure we're doing a good job. I'm going to humbly go research and crunch more numbers.
Dave’s point about this is that if you will just discipline yourself, you can do this yourself. Discipline doesn’t cost $3500, it’s FREE and here is a real cool ancillary benefit, discipline makes a real difference in not just your mortgage, not just your finances but in your life as a whole.
And for those of you questioning Dave and the cost of his program, you can read his books for free from the library, listening to his radio show is free, watching his TV show is basically free, doing a budget only takes a piece of paper and a pencil. If you’re “rich” and want to buy his book it’s on Amazon for $16 brand new and used for $8.
I’ll bet that those of you fighting for your right to be stupid are also cheering every time you hear a politician talking about taxing the rich because it’s not fair that you don’t have what they have.
Please do the world a favor ----read a book, get a clue, become productive or disappear.
We are now back on the plan and daves plan works. we were approached by one of the UFF sales men and now he
won't leave us alone. Thank you so much for the information. My husband and I were considering it and now
I am NOT going to do it and keep plugging away at our debt a little at a time. I was a little affraid of the
HELOC and using it as our primary account. You can just use the HELOC for something else big you want to buy.
If you are already in debt why do you need to go even deeper in debt.
Truth is truth, and the question of whether the program is beneficial and worth the investment to a qualified client would be a matter of fact rather than emotion.
Mr. Ramsey,
I would suggest that a good test would be to have a sample case (imaginary or real, but certainly with realistic, typical numbers for a homeowner or someone with debt to pay off) and have a sample plan or roadmap for what would be considered a sound financial course of action. Actually, doing this with multiple scenarios would be even more illustrative. Then I would respectfully suggest that you find a UFirst agent or (given your position of public stature and recognition ) corporate leader that you feel comfortable with, in a non-adversarial environment and have the representative run comparative analyses. Each case would show the results using the conventionally accepted approach alongside the results of utilizing the UFirst system.
I mean no disrespect when I say, that to voice a strong opinion against UFirst, its products, or its agents, without having a clear, calm explanation of how and why the products are beneficial, and without an analysis quantifying the potential benefit to the client (including return on investment) is to do a great disservice to the company and its agents. Perhaps most importantly it would be a great disservice to wrongly dissuade a prospective customer (who gives great weight to your opinion) from looking at the program if the program would be of benefit to that prospective customer. I know that you know assuming a position of greater respect, such as you hold, demands a higher level of responsibility, but even at the risk of sounding preachy, I am willing to emphasize it here.
I, too, was skeptical the first time (no, actually few times) I heard about the system and the results it promised. After having some analysis shown to me and still having a lot of questions, I was open enough that I was willing to come back another day and learn more about it. I had some more analysis examples shown to me. When I began to understand how it works, and was able to see outcomes, I realized that I could not argue with the math or the strategy (as long as the system included the software to optimize outcome for the client). I also saw that clients are protected by a guarantee of performance.
I must admit that I am not a frequent listener to your show (sorry), so for all I know, you may have already done some of the due diligence suggested by other bloggers and I, and you may even be singing praises for UFirst. If this is the case, I apologize for ‘beating a dead horse.’ In either case, I look forward to learning more about your experience once you have learned more about the company and its products on a factual basis.
Respectfully,
Mat
1. Rhonda is an idiot and United First Financial needs to terminate her contract immediately for contacting the media and misrepresenting information she was not qualified to provide
2. Dave is right! The software is no magic pill. Paying extra money on debt owed decreases your total future debt obligation.
3. Is United First Financial Multilevel? If you look at the version of the compensation plan on an earlier blog on this page plan you can see that there are different levels one can be commissioned per each sale. Once a person sells a certain amount he or she can become part of bonus pools that are split amongst the sales field that qualifies. Now Rhonda is completely wrong about the recruiting! YES! United First Financials’ agents can recruit agents to market the software. Do they need to recruit in order to make money…? No, they can earn money by individual sales only. However if you look at the comp. plan it pushes the benefit of recruiting other agents that sell the software so that they can accelerate their effort in qualifying for the bonus pools and such. The comp. plan looks like a hybrid of the insurance industry and real estate…. I hope you are reading Rhonda… there are multi commissionable levels and payouts making it “multilevel”
4. Question to thing about: Why in the world did these guys in Utah create software to help people pay down their mortgage and debt? We all know that it is up to ourselves to have the discipline to get out of debt and to invest for the future. It is just that simple. Too think that a software program will do it all for you is just ludicrous! Now they do have some credibility in the market with Ernst and Young, Broker Banker Magazine, Mortgage Planner, and Personal Real Estate Investors Magazine so there has to be a reason why they are getting this recognition. I think it is because the intention of the software is to help people more efficiently manage their debt. Whether or not this financial tool is worth its hefty price is up to you and will always be something people will be bantering about on the net. I guess another way to put why these guys possible created the software, besides making $$$$, is to provide an electronic financial coach. We know that we all don’t need a personal trainer to get in shape but will working with a personal trainer help keep us motivated and loose weight more efficiently…? Let’s see if Dave is right about these guys going out of business in a couple of years as they only just begun a few years ago or will they make a sizeable difference for its users...?
Keep up the debates guys:>
God bless you Dave! You are saving families every day! We love you, man!
The problem so many of todays mlm's are not that they are mlm but that they don't have a decent product. If all the money is made from enlisting than yes it will collapse and the very top make millions. But companies like Toyota and dare I say Amway have great products and are willing to pay their sales and marketing staff (IBO's, distributors, downline)for their hard work. Key being hard work.
MLM is not get rich quick and easy. It is a business and like any business you must treat it as such. Expect some setbacks but persevere and you will find success. Get educated, not by getting "the tapes" but by finding successful business owners in other fields perhaps who may be willing to help you along the way. The list goes on but you get the point. It is work ethic not business model which is the leading cause of failure.
interest payments using a second mortgage or (other debt instrument)" What deos that mean? If seems simple
to me. For every dollar you pay on principle that is a dollar you don't pay interest on anymore. Thats like
giving yourself a bonus. Sorry Rhonda I'll stick with Dave's KISS plan. Thanks anyway.
People are not trying to stereotype MLM companies. I do agree that most MLM companies are not pyramid schemes. However, I do believe that Amway/Quixtar is a pyramid scheme. If you simply look at the business model and outline the sales teams, from the top to the bottom, you will notice that you have created a pyramid. Now I know it is not technically a scheme I believe they are legally a "legitimate" business, but they are about one inch away from being legally classified as a scheme. And of course you have to have to invest in any job... obviously you can't go to work naked. What people don't understand about Quixtar is that they promote themselves as a company you can make millions with like others have done. However, those others that have made millions have done so preying off the naive. The majority of the money made by the big players is through motivational tape, CDs, DVDs, and seminars, which cost around $400 per seminar. I have watched my roommate lose all his money and quit college to pursue a career in a company that is built on the empty promise of wealth. In 2006, Quixtar announced that the average monthly income of an active IBO was $115. That is the income only, not net profit. Meaning that those who who spent $400 on a seminar have a monthly net loss of $285. As far a morale and spiritual grounds the company is wrong as well. I am not an overly religious man, but I do believe the Bible, which Quixtar pushes on members immensely, says something like... those you strive for quick wealth will not go unpunished.
Most of the above comments, I believe, have been focused on the wrong thing. First of all, we as consumers buy all kinds of "things" to HELP us
be better and more efficient. I'm a believer of Ramsey's program and guess what...I PAID FOR IT. Technically, according to Dave, I'm an idiot because
I wasted my money since I should be able to do this myself.
The primary aspect of the UFirst tool is to act as a BANKING MANAGER. It helps you manage free money with credit cards, cheap money with a HELOC, all
while making HUGE payments on the closed-end mortgage. Could I do it myself...of course. Could I do it as good as the software...NO. So what I looked
at was what does ONE missed large payment mean to my overall payoff if I were to do it on my own and not do it as efficient? It means thousands of dollars.
Therefore, like Jeff, I use it. And to my amazement, I also ran my numbers according to Dave and using the UFirst. UFirst won by 15 months. Keep in mind
my mortgage payment is $2,500. $2,500 times 15 = $37,500. Minus $3,500 = $34,000. Dave CANNOT deny this data if he were to see my spreadsheets with HIS
program and my UFirst program. Dave, UFirst didn't DO it for but either did you. But UFirst just so happens to beat you by $34,000.
Multi-level marketing or not, and really could give a crap, it's the only Multi-level marketing program that offers a guaranty and it works.
The principle they sell WORKS! You don't need the program. It is just simple addition and subtraction. Personally, I use the Microsoft Money program to manage my finances and I am going to pay off my mortgage in 4 years from now. I have it mapped out to zeros.
I tell everyone who will listen not to buy the program but to learn the principle. Good luck to those who are trying to pay off the mortgage. It is truly empowering to me that this is within my grasp.
I would rather have a new HD TV! I don't own Daves program so don't go three.
At best and being 'kind', they've created an automated method to pay down on principle so it is something you don't have to 'think' about. But if you go thru the effort of writing one or two extra checks per month toward principle with the 'extra' you happen to have each month, other than the 'convenience' of their program doing it for you how is this any different than the $3500 plus the HELOC annual fees you'd spend for their program.
Always reduce "your problem", in this case your mortgage, to the simplest way of understanding it (see my example) and compare it to what is being pitched to you. Remember the 'old saying' - 'Liars figure and figures lie'.
Anybody can use any thing to get out of debt, but the thing is they have to stick to it! (discipline)
Some people need to have something in their face to look at on a regular basis to remind them and show them how to use their money wisely. The Money Merge Account software is an Great piece of software. Also it will show you how to save money and cancel interest with a click of the mouse. I understand we should use our brains more, well this helps people to see the visual impact of what they can do when they use their money correctly. I agree with Dave about debt IT IS BAD. But some people need to see their situation every day .We have demo software to show the client different scenarios.
We also give a free analysis to see what we can do for the client, they can compare that with what they are doing now.